• Journal of Electrical Engineering and Technology
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• v.12 no.6
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• pp.2196-2207
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• 2017

This paper presents a two-stage market auction model in a pool-based electricity market, which explicitly takes into account the system network security. The security network-constrained market auction model considers the use of corrective control to yield economically efficient actions in the post-contingency state, while ensuring a certain security level. Under this framework, the proposed model shows not only for quantifying the correlation between secure system operation and efficient market operation, but also for providing transparent information on the pricing system security for market participants. The two-stage market auction procedure is formulated using Benders decomposition (BD). In the first stage, the market participants bid in the market for maximizing their profit, and the independent system operator (ISO) clears the market based on social welfare maximization. System network constraints incorporating post-contingency control actions are described in the second stage of the market auction procedure. The market solutions, along with the BD, yield nodal spot prices (NSPs) and nodal congestion prices (NCPs) as byproducts of the proposed two-stage market auction model. Two benchmark systems are used to test and demonstrate the effectiveness of the proposed model.

• Architectural research
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• v.8 no.1
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• pp.9-16
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• 2006

Maximizing profit is the most significant object of commercial places. Especially for some places where its atmosphere is main concern of customers like $Caf{\acute{e}}s$, interior design is crucial. Thus it needs to evaluate human emotion and preference. Human Sensibility Ergonomics which is recently signified in various fields is an attempt to quantitatively analyze factors of human sensibility and apply it to design operation. This study attempted to infuse human sensibility ergonomics into $Caf{\acute{e}}$ interior design and analyzed preferable $Caf{\acute{e}}$ interior design factors. Because most $Caf{\acute{e}}s$ have their own target customers, so we assumed four different target customer groups divided by their age and gender groups in each age group. As a result, the difference of each group could be examined. Middle-aged group and males have main interest in the intensity of luminance, i.e. the brightness, whereas youths and females attach importance to both quality of light and color. In addition, there is a tendency for middle-aged group and males to see $Caf{\acute{e}}$ as a public place while young people and females recognize $Caf{\acute{e}}$ as a place for entertainment. Taking the result of this study into consideration can lead to successful $Caf{\acute{e}}$ interior design for specific target customers.

• Journal of Korean Institute of Industrial Engineers
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• v.33 no.2
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• pp.282-289
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• 2007

While demands for express couriers service are rapidly increasing due to recent progress of electronic commerce, express courier service companies are struggling to take a larger market share through ongoing improvement in their service processes. Cut-off time is the time limit that all orders delivered before the limit are guaranteed for the delivery within the very next day. Extending cut-off time for express service centers can provide the express company with increase of total sales, but it may also cause increasing the possibility not to satisfy customer needs due to work delay in the consolidation terminal. We develop a design model for express courier service network based on a recursive optimization/simulation procedure. With the optimization model, we seek key design parameters such as the cut-off time for express service centers and the capacity of the consolidation terminal maximizing total sales profit while satisfying the desired level of performances. With the simulation model, we consider the dynamic nature of the network and obtain relationships between the design parameters and the performance measures with the multiple linear regression. The validity of the model is examined with an example.

• The Journal of the Korea Contents Association
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• v.6 no.1
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• pp.102-113
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• 2006

This article presents the results of empirical studies on the Quality of F&B parts in Hotel services. The main aim is to describe and analyze service breakdown from the customer's point of view and thus create a basis for quality management. The aim is also to find out maximizing factors of sales volume with profit in hotel F&B parts based on the serving systems of F&B items, quality control, change and innovation. The results of the study show statistically significant differences between the each F&B parts in term of quality of foods, location of restaurant, service inconvenience condition, variety of menu, teamwork of empolyees, educational programme, hotel internal culture, etc. Marketing and management implications for effective targeting the market segments are discussed.

• Journal of Korean Institute of Industrial Engineers
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• v.28 no.3
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• pp.264-273
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• 2002

This paper focuses on disassembly sequencing, which is the problem of determining the optimum disassembly level and the corresponding disassembly sequence for a product at its end-of-life with the objective of maximizing the overall profit. In particular, sequence-dependent operation times, which frequently occur in practice due to tool-changeover, part reorientation, etc, are considered in the parallel disassembly environment. To represent the problem, a modified directed graph of assembly states is suggested as an extension of the existing extended process graph. Based on the directed graph, the problem is transformed into the shortest path problem and formulated as a linear programming model that can be solved straightforwardly with standard techniques. A case study on a photocopier was done and the results are reported.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.33 no.2
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• pp.33-38
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• 2010

To survive head-to-head competition, we should keep our labor productivities above those of other nations. However, our labor productivities are low compared to those of the developed countries. It is the well-known fact that we make up for the productivities with long work hours. Entering the line of developed nations safely and enjoying well-being age freely, we need to achieve high labor productivities without sacrificing work hours. What would be a fine solution? Back to the basics! Although it is important to enforce R&D on high-tech products, we should have so-called bluebird philosophy, being faithful to the basics and trying to find solutions at a stone's throw. Basics of basics may be unceasing improvement, establishing reasonable standard times, and maintaining them. To support going back to the basics, this thesis proposes VITAMAX, a motion and time study software. As VITAMAX stands for "Visual Improvement and Time Analysis for Maximizing Profits", it provides a simple and powerful visual tool which is useful for improving manual works and determining standard times. Since VITAMAX is based on the Microsoft Excel and VBA, it is very cost-effective and easy to use. VITAMAX may contribute to the profit increase of manufacturing companies, especially for the small and medium-sized enterprise.

• Journal of Institute of Control, Robotics and Systems
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• v.12 no.12
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• pp.1215-1219
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• 2006

Scheduling plays an important role in the process management in terms of providing profit-maximizing operation sequence of multiple orders and estimating completion times of them. In order to takes its full potential, varying conditions should be properly reflected in computing the schedule. The adjustment of scheduling decisions has to be made frequently in response to the occurrence of variations. It is often challenging because their model has to be adjusted and their solutions have to be computed within short time period. This paper employs Model Predictive Control(MPC) principles for updating the process condition in the scheduling model. The solutions of the resulting problems considering variations are computed using parametric programming techniques. The key advantage of the proposed framework is that repetition of solving similar programming problems with decreasing dimensionis avoided and all potential schedules are obtained before the execution of the actual processes. Therefore, the proposed framework contributes to constructing a robust decision-support tool in the face of varying environment. An example is solved to illustrate the potential of the proposed framework with remarks on potential wide applications.

• Journal of Fisheries and Marine Sciences Education
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• v.17 no.3
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• pp.340-360
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• 2005

Fishery resource rents(i.e. windfall gains or excess profit), which tend to lead a variety of important economic, social, political problems, have been a fundamental cause of unbalance between fishery resource use and management. Thus, there may exist several sorts of optimal level of resource utilization such as economic maximum sustainable yield, biological maximum sustainable yield, social optimum production, socio-political optimum yield, etc. The fishery resource use level seems to a large extent to be determined by the characteristics of fishermen's rent seeking structure. As well known, fishery resources as common properties have a characteristic of being difficult to establish private property rights. Therefore, their use rights are controlled by the permit and/or the license system. As a result, absolute or differential rents are formed by the changes in institutional arrangements. Rent problems are often transformed into serious socio-political issues when the rent in a given industry is much higher to a socially unacceptable extent than the average of other industries. However, individual fishermen or fishermen's groups tend to behave aggressively to change the existing fishery institutions towards maximizing fishery rents. These rent-seeking behaviors often tend to nullify fishery management schemes. The larger is the relative rent difference between fisheries and other industries, the more aggressive tend to be the rent-seeking behaviors in fisheries.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.52 no.9
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• pp.542-549
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• 2003

In this paper, a novel approach to generator maintenance scheduling strategy in competitive electricity markets based on non-cooperative dynamic game theory is presented. The main contribution of this study can be considered to develop a game-theoretic framework for analyzing strategic behaviors of generating companies (Gencos) from the standpoints of the generator maintenance-scheduling problem (GMP) game. To obtain the equilibrium solution for the GMP game, the GMP problem is formulated as a dynamic non-cooperative game with complete information. In the proposed game, the players correspond to the profit-maximizing individual Gencos, and the payoff of each player is defined as the profits from the energy market. The optimal maintenance schedule is defined by subgame perfect equilibrium of the game. Numerical results for two-Genco system by both proposed method and conventional one are used to demonstrate that 1) the proposed framework can be successfully applied in analyzing the strategic behaviors of each Genco in changed markets and 2) both methods show considerably different results in terms of market stability or system reliability. The result indicates that generator maintenance scheduling strategy is one of the crucial strategic decision-makings whereby Gencos can maximize their profits in a competitive market environment.

• Industrial Engineering and Management Systems
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• v.9 no.2
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• pp.80-87
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• 2010

As express courier market expands rapidly, companies are exposed to fierce competition. To cope with struggle for their survival, they are continuously making efforts to improve their service system. Even if most of service centers are directly linked to a consolidation terminal in courier service network, some of them with regional disadvantages are operated in milk run type from/to the consolidation terminal, which is a traditional PDP (Pick-up and Delivery Problem). This study suggests an approach to solve the PDP with the objective of maximizing the incremental profit, which belongs to PTP (Profitable Tour Problem) class. After the PTP is converted to TSP (Traveling Salesman Problem) with the same objective, a heuristic algorithm based on GA (Genetic Algorithm) is developed and examined through an example problem in practice of a courier service company in Korea.