• International Journal of Advanced Culture Technology
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• 제8권1호
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• pp.62-70
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• 2020

As an effective means of price discrimination, some suppliers offer trade credit to the distributors in order to stimulate the demand for the product they produce. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. Since the distributor's lot-size is affected by the demand for the customer, the distributor's lot-size and the selling price determination problem is interdependent and must be solved at the same time. Also, in many common business transactions, the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. In this regard, we deal with the joint lot-size and price determination problem when the supplier allows delay in payments for an order of a product. The positive effects of credit transactions can be integrated into the EOQ (economic order quantity) model through the consideration of retailing situations, where the customer's demand is a function of the distributor's selling price. It is also assumed that the distributor's order cost consists of a fixed ordering cost and the variable shipping cost. We formulate the distributor's mathematical model from which the solution algorithm is derived based on properties of an optimal solution. A numerical example is presented to illustrate the algorithm developed.

• 무역상무연구
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• 제48권
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• pp.3-23
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• 2010

In letter of credit arrangements, the issuing bank nominate a reimbursing bank which serves as a source of funds payment to the beneficiary. The reimbursing bank could be 3rd party bank or the issuing bank itself. In view of working capital requirements, most beneficiary want to get export proceeds in advance through nominated banks and therefore letter of credit usually permit the beneficiary to negotiate drafts, accompanied by required documents, to nominated bank. If the credit is available with the nominated bank, there must be a reimbursement instruction in the credit, because in this method of availability the issuing bank is obliged to reimburse the nominated bank if that bank acts on its nomination There are legal relationship among issuing bank, nominated bank and reimbursing bank with regard to reimbursement activities. Related rules are UCP and URR and UCC (in case of USA). Korean exporters and bankers do not appear to know well the role of reimbursement and usage. 3 cases (court case + ICC Opinion + bad practices) were employed to study the reimbursement mechanism and suggest better usages. The beneficiary is strongly recommended to know the benefit of reimbursement claim from independent reimbursing bank. The benefits include speed payment (thereby saving finance costs) and safe funds (in case of stop payment by the issuing bank right after the proceeds are reimbursed). And further the beneficiary banks (being nominated or claim banks) are also recommended to take advantage of the 3rd party reimbursement in view of the cases illustrated.

• International Journal of Advanced Culture Technology
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• 제6권3호
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• pp.151-162
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• 2018

In deriving the economic order quantity (EOQ) formula, it is tacitly assumed that the buyer has to pay product price while receiving the product from the supplier. However, as a marketing policy, some suppliers permit a delay in payments to the buyers to increase demand for the product they made. Credit transactions would have a positive effect on both suppliers and buyers. For a supplier who offers trade credit, it is an effective means of price differentiation to increase the demand for the product. Availability of opportunity to delay the payment in buyer effectively reduces the cost of holding stocks and therefore, the buyer has a lot of price options to choose his sales price for a customer. Since the buyer's order is affected by the customer's demand, the problems of determining the sales price and EOQ are interdependent and must be solved simultaneously. From this perspective, this paper evaluates the problem of determining the optimal sales price and EOQ for the buyer at the same time when the supplier allows a delay in payments for the product whose demand is represented as a function that decreases linearly with the sales price. For the analysis, it is also assumed that inventory is exhausted not only by customer's but also by decay.

• 전기학회논문지
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• 제65권6호
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• pp.923-933
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• 2016

This paper proposes a new method for evaluating Effective Load Carrying Capability(ELCC) and capacity credit(C.C.) of power system including Wind Turbine Generator(WTG) combined with Battery Energy Storage System(BESS). WTG can only generate electricity power when the fuel(wind) is available. Because of fluctuation of wind speed, WTG generates intermittent power. In view point of reliability of power system, intermittent power of WTG is similar with probabilistic characteristics based on power on-off due to mechanical availability of conventional generator. Therefore, high penetration of WTG will occur difficulties in power operation. The high penetration of numerous and large capacity WTG can make risk to power system adequacy, quality and stability. Therefore, the penetration of WTG is limited in the world. In recent, it is expected that BESS installed at wind farms may smooth the wind power fluctuation. This study develops a new method to assess how much is penetration of WTG able to extended when Wind Turbine Generator(WTG) is combined with Battery Energy Storage System(BESS). In this paper, the assessment equation of capacity credit of WTG combined with BESS is formulated newly. The simulation program, is called GNRL_ESS, is developed in this study. This paper demonstrates a various case studies of ELCC and capacity credit(C.C.) of power system containing WTG combined with BESS using model system as similar as Jeju island power system. The case studies demonstrate that not only reasonable BESS capacity for a WTG but also permissible penetration percent of WTG combined with BESS and reasonable WTG capacity for a BESS can be decided.

• The Journal of Asian Finance, Economics and Business
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• 제7권2호
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• pp.281-289
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• 2020

This research analyses the challenges facing SMEs in Oman in their quest for internationalization. The study is based on the OECD Model of Internationalization put forward in the report titled "How to Foster the Internationalization of SMEs through the Pacific Alliance Integration Process" which focuses on four factors namely finance, business environment, firm capabilities and market access, which are appropriate for an emerging economy like Oman. This study used a descriptive and quantitative research design in attempting to analyze the challenges being faced by Omani SMEs in their endeavors to internationalize. The research investigates causal relationship between variables using positivist and deductive approach. Data collected from 102 respondents was analysed by Structural Equation Modeling(SEM) using AMOS. It was found that finance availability was the most significant predictor of internationalization challenges followed by market access and business environment, while firm capabilities had no impact. Thus SMEs need easier access to credit and have to develop their international business networks and their marketing capabilities in order to grow internationally. Keeping in mind the contribution made by SMEs the government has to intervene by opening up easy lines of credit to SME exporters and allowing them relaxations in customs and other duties.

• 한국GIS학회:학술대회논문집
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• 한국GIS학회 2003년도 추계학술대회논문집
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• pp.9-14
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• 2003

The major reason that spatial data warehousing has attracted a great deal of attention in business GIS in recent years is due to the wide availability of huge amounts of spatial data and the imminent need for turning such data into useful geographic information. Therefore, this research has been focused on designing and implementing the pilot tested system for spatial decision making. The purpose of the system is to predict targeted marketing area by discriminating the customers by using both transaction quantity and the number of customer using credit card in department store. Focused on the analysis methodology, the case study is aiming to use GIS and clustering for knowledge discovery. The system is a key section of the research of multi-dimensional and spatio-temporal analysis in the internet environment.

• 문화기술의 융합
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• 제6권2호
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• pp.191-197
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• 2020

본 연구에서 우리는 공급자(supplier), 중간유통자(distributor) 그리고 최종 고객(customer)으로 구성되는 2 단계 공급망에서 중간유통자 입장의 재고 모형을 분석하였다. 공급자는 고객의 수요 증대를 목적으로 판매 제품에 대한 대금을 일정한 기간 동안 신용 거래를 허용하고, 중간유통자의 주문비용은 고정비 성격의 주문 비용과 운송량(주문량)에 따라 종속적으로 운송비용이 발생하는 상황을 고려하였다. 일반적으로 중간유통자 입장에서 볼 때 신용 거래를 통하여 공급자로부터 제품 대금에 대한 지불이 유예되면, 재고에 대한 투자 비용이 절감되는 효과가 발생하게 된다. 최종 고객의 수요는 중간유통자의 판매 가격에 따라 영향을 받게 되므로 중간유통자는 최종 고객의 수요를 증대 시킬 목적으로 판매 가격의 조정이 가능하게 된다. 본 연구에서는 공급자가 중간유통자에게 제품 판매 대금에 대하여 일정한 기간 동안 신용 거래를 허용하는 상황 하에서 중간유통자의 주문 비용이 고정 주문 비용과 함께 주문량에 따라 종속적으로 발생하는 운송비용을 포함한다는 가정 하에 중간유통자 측면의 경제적 주문량과 판매 가격 결정 문제를 분석하였다. 또한 문제 분석을 위하여 중간유통자의 재고는 시간이 지나감에 따라 일정한 비율로 퇴화한다는 가정 하에 중간유통자의 연간 총 이익에 대한 수리 모형을 수립하였고, 총이익을 최대화하는 경제적 주문량과 판매 가격 결정을 위한 해법을 개발하였다.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.869-875
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• 2020

As a basic element for sustainable development, the residential housing industry is vital and fundamental for every country in the world. Therefore, this study examines the impacts of financial considerations on house purchase decisions by housing investors in Auckland, New Zealand. 110 completed questionnaires were statistically analyzed. For testing the proposed hypotheses, Structural Equation Modelling (SEM) was used. The results show that house prices, income, and credit accessibility significantly influence housing investors' purchase decisions in a positive direction. It appears that more expensive houses offer more promising returns such that housing investors having higher levels of income and access to loans are brave enough to invest in such houses. This study aims to present the key factors influencing house purchase decisions from the viewpoint of housing investors as fundamental groups of stakeholders in the property market, which is rarely examined in previous studies. The implication of this study is to provide guidelines for housing regulators in New Zealand to develop affordable housing prices through the availability of land banks. This study also offers practical contributions to housing investors, particularly by providing key guidelines to make effective investment decisions.

• Journal of Information Processing Systems
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• 제12권1호
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• pp.57-72
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• 2016

To provide effective communication in the wireless mesh network (WMN), several algorithms have been proposed. Since the possibilities of numerous failures always exist during communication, resiliency has been proven to be an important aspect for WMN to recover from these failures. In general, resiliency is the diligence of the reliability and availability in network. Several types of resiliency based routing algorithms have been proposed (i.e., Resilient Multicast, ROMER, etc.). Resilient Multicast establishes a two-node disjoint path and ROMER uses a credit-based approach to provide resiliency in the network. However, these proposed approaches have some disadvantages in terms of network throughput and network congestion. Previously, the buffer based routing (BBR) approach has been proposed to overcome these disadvantages. We proved earlier that BBR is more efficient in regards to w.r.t throughput, network performance, and reliability. In this paper, we consider the node/link failure issues and analogous performance of BBR. For these items we have proposed a resilient packet transmission (RPT) algorithm as a remedy for BBR during these types of failures. We also share the comparative performance analysis of previous approaches as compared to our proposed approach. Network throughput, network congestion, and resiliency against node/link failure are particular performance metrics that are examined over different sized WMNs.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.239-247
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• 2021

Conventional banks are often considered more efficient than Islamic banks because they have been operating for decades, but Islamic banks have shown rapid development recently. Therefore, this study mainly aims to compare the level of efficiency of conventional banks and Islamic banks and which ones have the best level of efficiency. This study employs panel data using Stochastic Frontier Analysis (SFA) as the data analysis technique. The data used is annual data from 13 conventional banks and 13 Islamic banks in Indonesia during the 2014-2019 period. The result shows no significant difference in the efficiency of conventional banks and Islamic banks. This result is presumably influenced by the small size of the bank and the total number of banks used in the study. The data used in the study is limited to the period from 2014 to 2019. The variables utilized are also limited to the availability of financial report data which is publicly published. This study provides additional empirical evidence regarding conventional banks' and Islamic banks' efficiency in Indonesian banking by using the latest data. While theoretically, Islamic banks are expected to be more efficient than conventional banks, this study did not find any strong support for the case in Indonesia during the observation period.