• Korean System Dynamics Review
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• v.7 no.1
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• pp.67-90
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• 2006

A series of system dynamics model was developed for forecasting demand and supply of human resource in the electricity industry. To forecast demand of human resource in the electric power industry, BLS (Bureau of Labor Statistics) methodology was used. To forecast supply of human resource in the electric power industry, forecasting on the population of our country and the number of students in the department of electrical engineering were performed. After performing computer simulation with developed system dynamics model, it is discovered that the shortage of human resource in the electric power industry will be 3,000 persons per year from 2006 to 2015, and more than a double of current budget is required to overcome this shortage of human resource.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.9
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• pp.1581-1586
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• 2010

Korea Power Exchange has successfully performed the Long-term Electricity Demand Forecasting. Recently there is a lot of change in electricity industry sector; the national master-plan for green gas emission reducing, rise of smart-grid, and new trend of electricity consumption, and it is becoming painful challenging for demand forecasting. In new circumstance the demand forecasting is required more flexible and more accurate.

• Environmental and Resource Economics Review
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• v.9 no.2
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• pp.333-347
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• 2000

We employed various econometic methods to estimate the production index elasticity and the price elasticity of elecricity demand in Korea and compared the forecasting power of those methods. Cointegration models (ADL model, Engle-Granger model, Full Informtion Maximum Likelihood method by Johansen and Juselius) and Dynamic OLS by Stock and Watson were considered. The forecasting power test shows that Dynamic OLS has the best forecasting power. According to Dynamic OLS, the production index elasticity and the price elasticity of electricity demand in Korea are 0.13 and -0.40, respectively.

• Environmental and Resource Economics Review
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• v.14 no.1
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• pp.201-220
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• 2005

Recently, we have been witnessing new records of crude oil price hikes. One question which naturally arises would be the possibility and accuracy of forecasting crude oil prices. This study tries to answer the relative predictability of futures prices compared to the forecasts based on experts system. Using WTI crude oil spot and futures prices, this study performs simple statistical comparisons in forecasting accuracy and a formal test of differences in forecasting errors. According to statistical results, WTI crude oil futures market turns out to be equally efficient relative to EIA experts system. Consequently, WTI crude oil futures market could be utilized as a market-based tool for price forecasting and/or resource allocation for both of petroleum producers and consumers.

• IE interfaces
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• v.12 no.2
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• pp.222-236
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• 1999

This paper presents a design and implementation of an intelligent-integrated production-logistics systems. The situation considered here is that there are multiple manufacturing plants and multiple distribution centers. Effective distribution resource and production planning are required to reduce inventory cost and to avoid inventory shortage. We propose an intelligent forecasting scheme of each distribution centers, adaptive inventory replenishment planning, distribution resource planning, and integrated production planning system. In forecasting a huge number of on-line model identification is performed using neural network approximation capability. An efficient adaptive replenishment planning and distribution resource planning are also presented in connection with forecasting scheme. An appropriate production is also requested based on production lead-time and the results of distribution planning. Experimental simulations are presented to verify the proposed approach using real data.

• Journal of Information Technology Applications and Management
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• v.13 no.1
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• pp.77-94
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• 2006

Case-based Reasoning (CBR) is widely used in business and industry prediction. It is suitable to solve complex and unstructured business problems. Recently, the prediction accuracy of CBR has been enhanced by not only various machine learning algorithms such as genetic algorithms, relative weighting of Artificial Neural Network (ANN) input variable but also data mining technique such as feature selection, feature weighting, feature transformation, and instance selection As a result, CBR is even more widely used today in business area. In this study, we investigated the usefulness of the CBR method in forecasting success in implementing ERP systems. We used a CBR method based on the feature weighting technique to compare the performance of three different models : MDA (Multiple Discriminant Analysis), GECBR (GEneral CBR), FWCBR (CBR with Feature Weighting supported by Analytic Hierarchy Process). The study suggests that the FWCBR approach is a promising method for forecasting of successful ERP implementation in Small and Medium sized Enterprises.

• Proceedings of the Korean System Dynamics Society
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• 2006.04a
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• pp.101-122
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• 2006

A series of system dynamics model was developed for forecasting demand and supply of human resource in the electricity industry. To forecast demand of human resource in the electric power industry, BLS (Bureau of Labor Statistics) methodology was used. To forecast supply of human resource in the electric power industry, forecasting on the population of our country and the number of students in the department of electrical engineering were performed. After performing computer simulation with developed system dynamics model, it is discovered that the shortage of human resource in the electric power industry will be 3,000 persons per year from 2006 to 2015, and more than a double of current budget is required to overcome this shortage of human resource.

• Journal of the Korean Solar Energy Society
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• v.39 no.4
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• pp.41-54
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• 2019

The proportion of solar photovoltaic power generation has steadily increased in the power trade market. Solar energy forecast is highly important for the stable trade of volatile solar energy in the existing power trade market, and it is necessary to identify accurately any forecast error according to the forecast lead time. This paper analyzes the latest study trend in solar energy forecast overseas and presents a consistent comparative assessment by adopting a single statistical variable (nRMSE) for forecast errors according to lead time and forecast technology.

• Economic and Environmental Geology
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• v.23 no.3
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• pp.323-328
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• 1990

This study explores that learning model that has been employed for many years in the description of and projection of system or process performance promises to be very useful in long-term forecasting, especially of technology or related productivity measures, in mineral and energy industries. This study also provides some empirical results on the measurement of the learning curve in U. S. petroleum resource assessment and demonstrates how the learning system can be used as an economic forecasting tool.

• Korean System Dynamics Review
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• v.9 no.1
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• pp.125-141
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• 2008

It is very difficult to predict future demand/supply, price for resources with acceptable accuracy using regression analysis. We try to use system dynamics to forecast the demand/supply and price for nickel. Nickel is very expensive mineral resource used for stainless production or other industrial production like battery, alloy making. Recent nickel price trend showed non-linear pattern and we anticipated the system dynamic method will catch this non-linear pattern better than the regression analysis. Our model has been calibrated for the past 6 year quarterly data (2002-2007) and tested for next 5 year quarterly data(2008-2012). The results were acceptable and showed higher accuracy than the results obtained from the regression analysis. And we ran the simulations for scenarios made by possible future changes in demand or supply related variables. This simulations implied some meaningful price change patterns.