• Industrial Engineering and Management Systems
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• v.9 no.3
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• pp.204-214
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• 2010

A manufacturing/remanufacturing system is investigated with the consideration of required minimum quality of end-of-used products. A constant demand is satisfied by remanufacturing end-of-used products and manufacturing raw materials outsourced from outside. It is assumed in this system that the buyback price and remanufacturing cost are related to the different quality level of end-of-used products. For remanufacturing, only the used products that satisfy a required minimum quality level will be recycled. Thus, the returning rate is a function of the required minimum quality level. Functions of returning rate, buyback price and remanufacturing cost, which are closely connected to the quality level of end-of-used products, are investigated here. Treating the required minimum quality level of end-of-used products, the length of a cycle, the number of manufacturing lots and remanufacturing lots in a cycle as decision variables, the mathematical models with the objective of minimizing the average total cost are constructed. Through construction of a solution process based on Tabu Search algorithm and calculating examples, the validity of the models is illustrated.

• Asia-Pacific Journal of Business
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• v.6 no.2
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• pp.1-17
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• 2015

This study compares the most widely used parametric and non-parametric techniques to measure cost and profit efficiency of banks, namely the Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA). We formulate the specification form of both stochastic cost and profit frontier models and constant return to scale Cost DEA and Profit DEA models and provide an empirical assessment of the cost and profit frontiers based on a panel dataset of National Commercial Banks (NCBs) and Private Banks (PBs) in Bangladesh over the 2001-2010 period. The cost inefficiency and profit efficiency are slightly higher for PBs than NCBs in case of both SFA and DEA. The coefficients of advance and off-balance sheet items are significant that positively influence the banks in stochastic cost frontier model while the advance, other earning assets, price of borrowed fund are significant and negative effects on the banks in stochastic profit frontier model. The average cost inefficiency and average profit efficiency are recorded with 16.3% and 91% respectively. The highest and lowest cost inefficiency are observed for Janata Bank and United Commercial Bank Limited whilst the highest and lowest profit efficiency are recorded for Eastern Bank Limited and Janata Bank respectively. The average technical and allocative efficiency are 68.8% and 35.9%, respectively in case of CRS cost-DEA model whereas they are 70.3% and 31.8% in case of CRS profit-DEA model. The average cost inefficiency is recorded 6.3% by SFA whereas it is 24.5% by DEA. The average profit efficiency is found 91% by SFA while it is 22.1% by DEA, and SFA method shows better bank efficiency than DEA.

• Science of Emotion and Sensibility
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• v.23 no.1
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• pp.3-16
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• 2020

Recently, as the fashion e-commerce market has expanded, the proportion of online shops that are growing rapidly has increased and with them so too has competition. Most retailers operating online shops need their own competitiveness, and accordingly, the need to develop their logistics service quality components is increasing. This study investigated the quality of the logistics services, which is a factor of the logistics service quality of the internet shop. It influences customer satisfaction and repurchase intention by collecting samples from the customers using online fashion shops. Two hundred customers who shop online were surveyed to extract the data. The sample was subjected to basic statistical analysis using the SPSS 25.0 package, and factor analysis, t-test, ANOVA, and correlation analysis were performed. The results of this study showed that the information quality of proactive return, promptness of the return process, and reliability of the return cost had a positive impact on customer satisfaction, and it had a significant influence on the customer's repurchase intention to the online store. A selection of shops showed high amounts of return reasons, high customer satisfaction, and high repurchase, whereas, in general, many others scored poorly across these criteria. This suggests that a retailer operating online should consider pages for receiving information plus sales content in addition to the quality and constituent factors of its logistics services for returns that influence repurchase and satisfaction.

• Asian-Australasian Journal of Animal Sciences
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• v.14 no.9
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• pp.1326-1330
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• 2001

This study analyzed the lowest production cost and the greatest profit to be obtained from marketing hogs to determine the optimal operation scale for family-owned farrow-to-finish farms. Data were collected from 39 farrow-to-finish farms with 500 to 5,000 inventories for two consecutive years, and treated with GLM and quadratic regression models using the REG procedure. Analysis results indicated that farms capable of marketing 2,933 and 3,286 hogs annually had the lowest production cost and the greatest profit, respectively. Further analysis attributed the lowest production cost or the highest return in farms with an optimal scale of 3,000 to a higher survival rate of the herd, as well as lower expenses in veterinary medicine, labor, utilities and fuel, transportation, and depreciation. A similar feed conversion efficiency was observed for all the farms studied. Obviously, the cost efficiencies were associated with the economy of the operation scale of hog production until it reached 3,000 hogs marketed annually for a family-run unit. Beyond the optimal scale of 3,000 hogs, good stockmanship was more difficult to maintain and the herd management deteriorated as increasing mortality confirms. It is conclude that, unless advanced management is applied, the operation scale should not expand beyond 3,000 hogs.

• Journal of Korean Society of Water and Wastewater
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• v.10 no.3
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• pp.100-114
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• 1996

Besides insufficient water, water contamination confronts us with 'water crises' of both quantity and quality. However, the daily water consumption per capita of Korea is greater than that of other developed countries. Because of the current low water price, which is lower than a half of production cost, not only does it become difficult to cope promptly with rapidly increasing water demand and water contamination, but it also causes waste of water. We should, therefore, switch over from supply side management-oriented policy to demand side management-oriented policy through a raise of the water rate. This study carries out a cost analysis based on fair return method which is the principle of water pricing in Korea, and it estimates, through equilibrium analysis, long run marginal cost(LRMC), which satisfies allocative efficiency and reflects true social cost to additional one-unit water supply. Based on the results, this study proposes that the estimated LRMC is the optimal price level in water pricing, which is the most important of the demand side management policies. In the end, water conservation effect, price pervasive effect, and social welfare effect are analyzed.

• Korean Journal of Agricultural Science
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• v.10 no.2
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• pp.371-381
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• 1983

This study is aimed at identifying the economic effects of drainage improvement projects. The total area of poor drainage is equivalent to 170,000ha, 13% of the total area of paddy field in Korea. The development of poor drained paddy is an urgent problem considering the low rate of self-sufficiency of food grain and the limitation of farmer's income increase. Rapid development of Korean economy has brought labor shoriage in rural farming sector. Accordingly farm mechanization is an important agricultural policy to hike labor productivity and to save production costs of rice farming. The expected economic benefits of the drainage improvement project are derived from increasing land productivity, expanding double cropped area and farming the farm mechanization base in paddy fields. The economic and financial rate of return of the project are considered very important decision making criteria for project implementation by resource allocation. Therefore this study covered benefit and cost analysis of the sampled area, the estimated financial rate of returns in $Buy{\check{o}}$ and Jinsung are represented 15% and 51% respectively and the economic rate of returns in both project area are also showing 1% and 26% respectively. The rate of return of the projects has showed an outstanding variance according to the locational and natural characteristics of the project area. As showing the above economic rate of return, $Buy{\check{o}}$ is very low Jinsung is very high. But the financial rate of return of both projects are considered comparatively high. Cosequently, the drainage improvement projects should be promoted from the view point of farm income increase to make narrow the income gap between rural and urban incomes and farm mechanization to solve labor shortage in the rural area.

• 한국디지털정책학회:학술대회논문집
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• 2003.12a
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• pp.251-261
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• 2003

최근 정보보호의 중요성에 대한 인식이 확산되고 있음에도 불구하고 정보보호에 관한 적절한 투자가 이루어지지 않아, 효과적인 정보보호 시스템 구현이 지연되고 있다. 이는 전 세계적인 경제불황이라는 원인도 있겠지만, 정보보호 투자에 대한 정당화 논리가 부족하여 최고 경영자의 의사결정에 적절히 반영되지 않은 이유가 더 크다고 할 수 있다. 정보보호는 조직의 업무 수행에 수반되는 부대비용 개념으로 인식되어 왔으며 이 결과 ROI 와 같은 정보보호 투자에 대 한 정당화 논리를 제공하지 못해 적절한 투자가 적절히 수행되지 못하였다. 따라서 최근에는 정보보호 투자에 대한 수익과 지출간의 관계를 통한 ROSI(Return on Security Investment) 분석을 통한 정당화 논리 전개에 대한 필요성이 대두되고 있다. 본 논문에서는 ROSI 산출에 대한 접근방법을 비교 분석하고 TCO(Total Cost of Ownership)를 이용한 ROSI 방법을 제시하고자 한다. TCO는 하드웨어 가격뿐만 아니라 기술지원 및 유지 지원 인력 등을 모두 고려한 총 소유비용이다. 즉 정보보호에 대한 정확한 총 비용을 구하는데 매우 적합하다고 할 수 있다. 본 연구의 결과는 기업들로 하여금 좀 더 효과적인 정보보호 투자 정당화 수단으로서 활용될 수 있을 것이다.

• Fisheries and Aquatic Sciences
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• v.1 no.2
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• pp.255-259
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• 1998

This study was designed to evaluate the economic analysis of channel catfish production in 1998 based on fish value and total feed cost. Catfish received higher protein feeds with lesser amount based on the dietary protein levels, but received the constant total protein input for all treatments. Weight gain per pond for treatment 1 $(28\%\;protein,\;100\%\;of\;satiation)$ was higher (P<0.10) than for treatment 3 $(36\%\;protein,\;77.8\%\;of\;satiation)$, but not significantly higher than for treatment 2 $(32\%\;protein,\;87.5\%\;of\;satiation)$ at constant DE. At constant DE/P (treatments 4, 2 and 5), weight gain per pond for treatment 5 $(36\%\;protein,\;77.8\%\;of\;satiation)$ was lower (P<0.10) than for treatment 2, but not significantly lower than for treatment 4 $(28\%\;protein,\;100\%\;of\;satiation)$. At constant DE, feed conversion slightly improved as dietary protein level increased from $28\%\;to\;32\%$ and feed allowance decreased by $12.5\%$, but did not improve further as dietary protein level increased from $28\%\;to\;36\%$ and feed allowance decreased by $22.2\%$. At constant DE/P, feed conversion improved as dietary protein level increased from $28\%\;to\;32\%$ increased and feed allowance decreased by $12.5\%$, but did not improve as dietary protein level increased from $28\%\;to\;36\%$ and feed allowance decreased by $22.2\%$ Total feed cost for treatment 1 was slightly, but not significantly higher than for treatments 2 and 3 at constant DE. At constant DE/P, total feed cost for treatment 5 was higher (P<0.05) than for treatment 2, but not significantly higher than for treatment 4. Total value of fish ($ /ha) produced for treatment 1 was highest and lowest was for treatment 5. Return above feed cost was highest for treatment 1 and nearly the same as treatment 2. Return over feed cost for treatments 3 and 4 were slightly lower than for treatments 1 and 2. Economic analysis showed that feeding fish the diet containing $28\%$ protein and 3.08 kcal/g DE to satiation and the diet containing $32\%$ protein and 3.08 kcal/g DE to $87.5\%$ of satiation produced the highest profit to farmer.

• Journal of Navigation and Port Research
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• v.39 no.1
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• pp.69-75
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• 2015

The concrete purpose of this study is to suggest actually a debt ratio to optimize the capital structure providing a kind of approach to estimate the proper debt ratio with an analytical model and empirical data in Korean shipping industry. The mathematical and analytical model is started from the first equation about ROE, return of net operating income on equity, with an independent variable, debt ratio. It is constructed with several parameters, ROS(return of operating income on sales), TAT(total assets turnover), and NFCL(net finance cost to liabilities). There could not be a certain relationship between debt ratio and ROS or TAT, while some correlation or causality between debt ratio and NFCL. In other words, most of firms with high debt ratio is likely to burden higher finance cost than others with low one. In this case, there is a linearity relationship between debt ratio and NFCL, so then the second equation considering this relation could be included within the analytical approach of this paper. To be short, if the criteria of adequate debt ratio has to be defined as some level of debt ratio to optimize ROE, the ROE could be illustrated as a quadratic equation to debt ratio from two equations. Next, this research estimated those parameters' numbers through the single regression method with data over 12 years of Korean shipping industry, and identified empirically the fact that optimal debt ratio would be approximately 400%. To conclude, if that industry's sales and operating incomes are stable, the debt ratio could be accepted until twice of 200% had forced in order to guarantee its financial safety in past time.

• Journal of the Korea Society of Computer and Information
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• v.25 no.2
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• pp.221-229
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• 2020

As the cosmetics beauty industry grows into a key next-generation industry, the establishment of an industrialization center is needed, but failure to verify the adequacy and feasibility of the investment could lead to financial burdens. In this study, the project costs and facilities of an industrial center are reviewed to analyze its economic feasibility based on the cost estimates, revenue estimates, estimated profit or loss calculations, and estimated operating cash flows. The profit estimation criteria were analyzed by applying 90 per cent of expected orders for research projects (24 billion won) and 12 per cent of rental rates for testing equipment (4.5 billion won for construction), and the benefit/cost ratio is higher than 1.02 per cent and the net present value is higher than '0' won, and the internal rate of return is also more than 5.06 per cent for all three analytical methods. Therefore, in order for the construction of a cosmetics beauty industrialization center to be economically feasible, it is necessary to maintain research project orders of more than 90 percent and return on equipment rent of more than 12 percent, and a strategic approach is needed to diversify business profits.