• Proceedings of the KIEE Conference
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• 2000.11a
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• pp.3-5
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• 2000

It has been the paradigm of game theory that more than two utilities compete and determine the price and amount of dispatch. In order for this theory to be available on real power system, it is necessary to consider the transmission costs as well as the generation costs. In addition Independent System Operator(ISO) should be able to mitigate the congestion, recover the transmission costs and provide information for long-term capacity investment by devising reasonable pricing schemes for the transmission services. Generators also have to take the transmission costs into account when building the bidding strategies. This paper proposes an approach to analyzing the profit maximizing game considering the transmission cost in a competitive electricity market.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.35 no.2
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• pp.45-51
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• 2012

이 논문은 물류배송의 불확실성하에서의 생산자의 배송전략 문제를 다루고 있다. 즉 생산자의 배송수량이 전량 온전한 상태로 소매업체의 창고에 배송되지 못하는 상황을 고려한 것이다. 물류배송의 불확실성을 묘사하기 위해 물류배송을 위해 사용되는 개개의 트럭 또는 선박으로부터 발생되는 파손 제품의 수가 가각 독립적이며 동일한 확률분포를 따른다는 가정이 사용되었다. 또한, 최초 배송수량과 배송을 위해 사용된 전체 트럭 또는 선박의 대수를 기존의 단일구간 신문팔이 소년 문제에 적용하여 생산자의 이익함수를 구성하였다. 구성된 생산자의 이익함수를 이용하여 생산자의 기대 이익을 최대화하는 최적의 최초 배송수량 및 배송시 필요한 최적의 트럭 또는 선박의 대수를 계산해 내기 위한 최적해를 제시하였다. 마지막으로 이익함수 모델에서 사용된 다양한 파라미터 값의 조합에 따른 최적해의 움직임을 시뮬레이션을 통해 알아보았다．

• Journal of Korean Society for Quality Management
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• v.28 no.2
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• pp.1-16
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• 2000

This paper considers the problem of determining the optimal process mean and screening specification limits of a surrogate variable associated with product quality under two-stage screening procedure. In two-stage screening, the surrogate variable is inspected first to decide whether an item should be accepted, rejected or additional observations should be taken. If additional observations are required, the performance variable of interest is then observed to classify the undecided items. Assuming that the performance variable and the surrogate variable are jointly normally distributed, the optimal process mean and the screening limits are obtained by maximizing the expected profit which includes selling price, production, reprocessing, inspection and penalty costs. A numerical example is presented and numerical studies are performed to compare the proposed two-stage screening procedure with single-stage screening procedures.

• Proceedings of the KIEE Conference
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• 2001.11b
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• pp.411-413
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• 2001

This paper discusses on an optimal bidding strategy of a generator in a competitive electricity spot market using the information of predicted spot price with some assumptions. Optimal bidding strategy of a generator is derived by solving a profit-maximizing optimization problem with a constraint where the forecasted spot price is treated as a constant value. The main advantage of this methodology is that the optimal bidding strategy of each generator can be obtained independently where the gaming characteristics of generators are merged into the forecasted spot price.

• Industrial Engineering and Management Systems
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• v.15 no.4
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• pp.354-363
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• 2016

Due to uncertain environment, various parameters such as price, queuing length, warranty, and so on influence on inventory models. In this paper, an inventory-queuing-pricing problem with continuous review inventory control policy and batch arrival queuing approach, is presented. To best of our knowledge, (I) demand function is stochastic and price dependent; (II) due to the uncertainty in real-world situations, a fuzzy programming approach is applied. Therefore, the presented model with goal of maximizing total profit of system analyzes the price and order quantity decision variables. Since the proposed model belongs to NP-hard problems, Pareto-based approaches based on non-dominated ranking and sorting genetic algorithm are proposed and justified to solve the model. Several numerical illustrations are generated to demonstrate the model validity and algorithms performance. The results showed the applicability and robustness of the proposed soft-computing-based approaches to analyze the problem.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.7
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• pp.311-316
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• 2002

It has been a basic model for the present electric power industry that more than two generators compete, and thereby the market clearing price and the generation schedules are determined through the bid process. In order for this paradigm to be applicable to real electric power systems and markets, it is necessary to reflect many physical and economic constraints related to frequency and transmission in the dispatching schedule. The paper presents an approach to deriving a Nash bargaining solution in a competitive electricity market where multiple generators are playing with the system operator who mitigates the transmission congestion to minimize the total transaction cost. In this study, we take the effect of the line flows and the role of system operator into the Game. Finally, a case study has been demonstrated to verify the proposed cooperative game.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.32 no.4
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• pp.192-202
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• 2009

Disassembly of products at their end-of-life (EOL) is a prerequisite for recycling or remanufacturing, since most products should be disassembled before being recycled or remanufactured as secondary parts or materials. In disassembly sequence planning of EOL products, considered are the uncertainty issues, i.e., defective parts or joints in an incoming product, disassembly damage, and imprecise net profits and costs. The paper deals with the problem of determining the disassembly level and corresponding sequence, with the objective of maximizing the overall profit under uncertainties in disassembly cost and/or revenue. The solution is represented as the longest path on a directed acyclic graph where parameter (arc length) uncertainties are modeled in the form of intervals. And, a heuristic algorithm is developed to find a path with the minimum worst case regret, since the problem is NP-hard. Computational experiments are carried out to show the performance of the proposed algorithm compared with the mixed integer programming model and Conde's heuristic algorithm.

• IE interfaces
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• v.19 no.1
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• pp.53-61
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• 2006

We propose a new supply chain planning methodology for both a manufacturer and a distributor in order to find a global supply chain plan for functional product markets. Functional products as opposed to innovative products include the staples that people buy regularly from their nearby places to satisfy basic needs. In the functional product market, the distributor has an initiative of supply chain control and planning with a freedom to request any profit maximizing order quantities until the manufacturer refuses, whereas the manufacturer may not provide more than requested. In this paper, two independent agents on behalf of the manufacturer and the distributor are introduced, and supply chain planning can be conducted by collaboration between them. In addition, mathematical models and a numerical example are presented to show the possibility of the proposed methodology.

• International Journal of Computer Science & Network Security
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• v.21 no.2
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• pp.193-197
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• 2021

Customers are increasingly attracted towards different e-commerce websites and applications for the purchase of products significantly. This is the reason the sellers are moving to different internet based services to sell their products online. The growth of customers in this sector has resulted in the use of big data analytics to understand customers' behavior in predicting the demand of items. It uses a complex process of examining large amount of data to uncover hidden patterns in the information. It is established on the basis of finding correlation between various parameters that are recorded, understanding purchase patterns and applying statistical measures on collected data. This paper is a document of the bottom-up strategy used to manage the selling price of a first-time product for maximizing profit while selling it online. It summarizes how existing customers' expectations can be used to increase the sale of product and attract the attention of the new customer for buying the new product.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.418-425
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• 2022

For a commercial building, property managers play an important role in maximizing the benefit by reducing cost and increasing revenue in the operation and maintenance phase of the building. However, most of property managers are spending their time in monitoring facility managers who have little impact on cost reduction and maximization of operating profit. The industry practitioners have difficutlty in increasing the efficiency of thier work due to this work environment. In addition, both property managers(PMr) and facility managers(FMr) are dependent on the paper drawings and manuals, which can worsen the inefficiency and human errors are inevitable. This study aims to contribute to improvement of the current practice by developing a novel algorithm that autmatically links the facility information with 3D model, which can provide an efficient property management for commercial buildings.