• Title/Summary/Keyword: Economic loss

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Determination of Optimum Process Mean and Screening Limits under a Taguchi's Loss Function (다구찌 손실함수 하에서 최적 공정평균 및 스크리닝 한계선의 결정)

  • Hong, Sung-Hoon
    • Journal of Korean Society for Quality Management
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    • v.28 no.2
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    • pp.161-175
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    • 2000
  • The problem of jointly determining the optimum process mem and screening limits for each market is considered in situations where there are several markets with different price/cost structures. Two inspection procedures are considered; an inspection based on the quality characteristic of interest, and an inspection based on a surrogate variable which is highly correlated with the quality characteristic. The quality characteristic is assumed to be a normal distribution with unknown mean and known variance. A Taguchi's quadratic loss function is utilized for developing the economic model for determining the optimum process mean and screening limits. A numerical example is given.

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Correlation Coefficient Studies on Certain Quantitative Traits in the Silkworm, Bombyx mori L.

  • Begum, A.Naseema;Yamamoto, T.
    • International Journal of Industrial Entomology and Biomaterials
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    • v.5 no.1
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    • pp.44-52
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    • 2002
  • To understand the relationship among different quantitative traits, correlation studies were performed by utilizing eighty-eight inbred strains of silkworm, Bombyx mori L. on twelve economic characters. Analysis resulted in correlation of 5th instar period with total larval period (r = 0.7882), cocoon weight with shell weight (r = 0.8326), shell weight with shell ratio (r = 0.5067), shell ratio with raw silk % (r = 0.7570), raw silk % with filament length (r = 0.3490), filament size (denier) with reelability (r = 0.3193) and boil-off loss % (r = 0.2792). Negative correlation was observed among filament length with filament size (r = 0.7582) and reelability with boil-off loss % (r = -0.3236). Correlation of different quantitative characters for quality silk production is discussed.

Transmission Pricing Methodology for Korean Wholesale Electricity Market (도매경쟁 전력시장에서의 송전요금 산정방식)

  • Lee, K.D.;Rhee, C.H.;Oh, T.K.;Park, B.Y.;Kim, Y.W.;Kim, Y.C.
    • Proceedings of the KIEE Conference
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    • 2001.11b
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    • pp.192-194
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    • 2001
  • The Transmission network provides physical transport, network security, and connection services. The five principles of Transmission pricing are economic efficiency, cost recovery, efficient regulation, simplicity and transparency, non-discrimination. The Transmission Charges are made up of transmission connection charge and transmission charge of network. The Transmission Losses will be considered through Marginal Transmission Loss Factors in the market operation. The transmission loss rentals are used for the reduction of the annual revenue requirement of the transmission network for the purpose of derivation of transmission use of network charge.

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The Framework Development of Cloud Computing-based Integrated EHS Management System for Small and Medium Construction Companies (중소건설사를 위한 클라우드 컴퓨팅 기반 EHS 통합관리시스템 프레임워크 개발)

  • Seo, Kwang-Kyu
    • Journal of the Korea Safety Management & Science
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    • v.12 no.4
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    • pp.139-143
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    • 2010
  • The small and medium construction companies are facing potential EHS(Environment, Health & Safety) of major accidents to cause casualties or a financial loss and increasing social responsibility. So, they have to voluntarily accomplish the EHS management system rather than passively with regard to EHS regulation. In this study, the framework of integrated EHS management system is developed based on cloud computing, and construction companies are to materialize self-regulation EHS process of construction workplace and to standardize the total EHS business process using the developed system. The proposed system also provides risk analysis, education/control and continuous improvement for EHS tasks and users can easily access the system on the web at a low price through cloud computing service. Eventually, the integrated system contributes to the managerial improvement by minimizing economic and physical loss caused by construction accidents.

Flexible Process Performance Measures by Quadratic Loss Function (이차손실함수를 이용한 유동적인 공정수행척도)

  • 정영배
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.18 no.36
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    • pp.275-285
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    • 1995
  • In recent years there has been increasing interest in the issue of process centering in manufacturing process, The traditional process capability indices Cp, Cpk and Cpu are used to provide measure of process performance, but these indices do not represent the issue of process centering. A new measure of the process capability index Cpm is proposed that takes into account the proximity to the target value as well as the process variation when assessing process performance. However, Cpm only considers acceptance cost for deviation from target value within specification limits, do not includes economic consideration for rejected items. This paper proposes flexible process performance measures that considered quadratic loss function caused by quality deviation within specification limits, rejection cost associated with the disposition of rejected items, and inspection cost. In this model disposition of rejected items are considered under perfect corrective procedures and the absence of perfect corrective procedures.

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Risk Perceived by Consumers in Apparel Buying Situation ( I ) - Risk Types and Their Relationships with Consumers' Demographic Variables- (의복구매시 소비자가 지각하는 위험에 관한 연구( I ) -위험의 유형분류, 소비자 인구변인과의 관련을 중심으로-)

  • Kim Chanjn
    • Journal of the Korean Society of Clothing and Textiles
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    • v.15 no.4 s.40
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    • pp.405-416
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    • 1991
  • This paper examined the risks perceived by consumers in apparel buying situation by 1) measuring the contents and perception level of risk, 2) categorizing each risk into meaningful factors (risk types), 3) analyzing the relationships between risk types and consumers' demo-graphic variables. 224 respondents deliberately selected to include each level of S demographic variables were contacted with 37-item question3.ire. Factor analysis showed that 32-item perceived risk could be categorized into 6 risk types: psychological. social, economic, time/convenience loss, fashionability loss, performance risk. Psychological risk were perceived highest in terms of perception level while social and performance risk showed relatively low perception level. 4 of 5 demographic variables including sex, education level, income, occupa-tion showed partial relationship with each risk type after ANOVA and Duncan test. Sex had the greatest influence on risk perception level and each age level (20's, 30's, 40's) showed different risk structure.

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Why the Prescribing-Dispensing Services Are Not Separated in Korea\ulcorner -An Economic Approach- (의.약분업 왜 안 되나\ulcorner -경제학적 일고-)

  • 변재환
    • Health Policy and Management
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    • v.2 no.2
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    • pp.179-193
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    • 1992
  • This paper attempts to explain why the prescribing-dispensing services are not seperated in Korea. The main reason why physicians and pharmacists do not compromise, even though the two parties support the seperation policy in public, is contended to be that both parties would lose their interests if the policy were implemented. Physicians' loss from giving up their vested rights to dispensing would be larger than their gain from an increase in the number of prescriptions. Pharmacists' loww from being forced not to to sell medicines without prescriptions would also be larger than their gain from prohibiting physicians from dispensing. The net ganier form the seperation policy would be the patients. Therefore, the seperation policy would not be implemented unless political pressure from general public surpasses that from physicians and pharmacists.

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Insights from existing earthquake loss assessment research in Croatia

  • Hadzima-Nyarko, Marijana;Sipos, Tanja Kalman
    • Earthquakes and Structures
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    • v.13 no.4
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    • pp.365-375
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    • 2017
  • Seismic risk management has two main technical aspects: to recommend the construction of high-performance buildings and other structures using earthquake-resistant designs or evaluate existing ones, and to prepare emergency plans using realistic seismic scenarios. An overview of seismic risk assessment methodologies in Croatia is provided with details regarding the components of the assessment procedures: hazard, vulnerability and exposure. For Croatia, hazard is presented with two maps and it is expressed in terms of the peak horizontal ground acceleration during an earthquake, with the return period of 95 or 475 years. A standard building typology catalogue for Croatia has not been prepared yet, but a database for the fourth largest city in Croatia is currently in its initial stage. Two methods for earthquake vulnerability assessment are applied and compared. The first is a relatively simple and fast analysis of potential seismic vulnerability proposed by Croatian researchers using damage index (DI) as a numerical value indicating the level of structural damage, while the second is the Macroseismic method.

A Study on Policy Execution Analysis of Industrial Safety Health Criteria (산업안전보건기준의 정책집행분석에 관한 연구)

  • 전운기;송수정;강경식
    • Journal of the Korea Safety Management & Science
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    • v.3 no.4
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    • pp.11-18
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    • 2001
  • We have endured a lot of social and economic loss due to the industrial calamities. A study for the government policies to reduce the loss in the field of industrial safety and health leaves much to be desired. The practical one on the government policies industrial safety and health policies, however, hasn't been accomplished as much expected. The purpose of this study is to suggest a research framework fir the execution process analysis, which is needed to find out the desirable or undesirable elements of industrial safety and health policies. The focus of the analysis lays on a policy problem of the industrial safety and health criteria. And based on this paper, it will proceed to the practical research for the industrial safety and health policies.

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A Causal Analysis of Conglomerate Bankruptcies

  • KU, Sang-Wuk;WHANG, Yun-Oh
    • The Journal of Economics, Marketing and Management
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    • v.8 no.1
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    • pp.12-19
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    • 2020
  • Purpose - Strategic causes for the failure include unrealistic growth, overexpansion, unfamiliar new markets, volume obsession, unrealistic promises and poor project selection. Organizational causes are insufficient capital and profits, lack of business knowledge, poor financial management, poor sales skills, inadequate marketing, poor leadership, poor leadership transfer, project losses, poor field performance and owner bankruptcy. Uncontrollable causes include industry and economic weakness and banking and surety changes. While helpful, the list provides insufficient clarity regarding the causal roots of failure. Research design, data and methodology - The research framework to organize the information involved with many of the recent and large failures in the industry. Results - This research then identified five dominant root causes - excessive egoism, poor strategic leadership, too much change, loss of discipline and inadequate capitalization. Conclusion - Finally, additional input from external forces may accelerate the firm's pace to failure. It is important on the development of diagnostic tools that are based on this model and that will provide new ways to assess a conglomerate's level of risk for incurring a financial crisis.