• Title/Summary/Keyword: Efficiency of Financial Operations

Search Result 58, Processing Time 0.022 seconds

An analysis of the operational efficiency of the major airports worldwide using DEA and Malmquist productivity indices (세계 주요 공항 운영 효율성 분석: DEA와 Malmquist 생산성 지수 분석을 중심으로)

  • Kim, Hong-Seop;Park, Jeong-Rim
    • Journal of Distribution Science
    • /
    • v.11 no.8
    • /
    • pp.5-14
    • /
    • 2013
  • Purpose - We live in a world of constant change and competition. Many airports have specific competitiveness goals and strategies for achieving and maintaining them. The global economic recession, financial crises, and rising oil prices have resulted in an increasingly important role for facility investment and renewal and the implementation of appropriate policies in ensuring the competitive advantage for airports. It is thus important to analyze the factors that enhance efficiency and productivity for an airport. This study aims to determine the efficiency levels of 20 major airports in East Asia, Europe, and North America. Further, this study also suggests suitable policies and strategies for their development. Research design, data, and methodology - This paper employs the DEA-CCR, DEA-BCC, and DEA-Malmquist production index analysis models to determine airport efficiency. The study uses data on the efficiency and productivity of the world's leading airports between 2006 and 2010. The input variables include the airport size, the number of runways, the size of passenger terminals, and the size of cargo terminals. The output variables include the annual number of passengers and the annual cargo volume. The study uses basic data from the 2010 World Airport Traffic Report (ACI). The world's top 20 airports (as rated by the ACI report) are investigated. The study uses the expanded DEA Model and the Super Efficiency Model to identify the most effective airports among the top 20. The Malmquist productivity index analysis is used to measure airport effectiveness. Results - This study analyzes longitudinal and cross-sectional data on the world's top 20 airports covering 2006 to 2010. A CCR analysis shows that the most efficient airports in 2010 were Gatwick Airport (LGW), Zurich Airport (ZRH), Vienna Airport (VIE), Leonardo da Vinci Fiumicino Airport (FCO), Los Angeles International Airport (LAX), Seattle-Tacoma Airport (SEA), San Francisco Airport (SFO), HongKong Airport (HKG), Beijing Capital International Airport (PEK), and Shanghai Pudong Airport (PVG). We find that changes in airport productivity are affected more by technical factors than by airport efficiency. Conclusions - Based on the study results, we offer four airport development proposals. First, a benchmark airport needs to be identified. Second, inefficiency must be reduced and high-cost factors need to be managed. Third, airport operations should be enhanced through technical innovation. Finally, scientific demand forecasting and facility preparation must become the focus of attention. This paper has some limitations. Because the Malmquist productivity index is based on the hypothesis of the, the identified production change could be over- or under-estimated. Further, as DEA estimates the relative efficiency. It also cannot generalize to include all airport conditions because the variables are limited. To measure airport productivity more accurately, other input variables and environmental variables such as financial and policy factors should be included.

Streamlining ERP Deployment in Nepal's Oil and Gas Industry: A Case Analysis

  • Dipa Adhikari;Bhanu Shrestha;Surendra Shrestha;Rajan Nepal
    • International Journal of Advanced Culture Technology
    • /
    • v.12 no.3
    • /
    • pp.140-147
    • /
    • 2024
  • Oil and gas industry is a unique sector with complex activities, long supply chains and strict rules for the business. It is important to use enterprise resource planning (ERP) systems to address these challenges as it helps in simplifying operations, improving efficiency and facilitating evidence-based decision making. Nonetheless, successful integration of ERP systems in this industry involves careful planning, customization and alignment with specific business processes including regulatory requirements. Several critical factors, such as strong change management, support of top managers and training that works have been identified in the study. Amongst the hurdles are employee resistance towards the changes, data migration complications and integration with existing systems. Nonetheless, NOCL's ERP implementation resulted in significant improvements in operating efficiency, better data visibility and compliance management. It also led to a decrease in financial reporting timeframes, more accurate inventory tracking and improved decision-making capabilities. The study provides useful insights on how to optimize oil and gas sector ERP implementations; key among them is practical advice including strengthening change management strategies, prioritizing data security and collaborating with ERP vendors. The research highlights the importance of tailoring ERP solutions to specific industry needs as well as emphasizes the strategic role of ongoing monitoring/feedback for future benefits sustainability.

Need for internal control of public sector

  • Mohammadi, Shaban
    • The Journal of Economics, Marketing and Management
    • /
    • v.3 no.1
    • /
    • pp.33-39
    • /
    • 2015
  • Managers are always trying to be the best internal controls in their organizations copper approximate because they know that be effective internal control over previous systems, to fulfill the mission of the organization and minimize unexpected events will be extremely difficult. On the other hand, the existence of internal controls to increase efficiency, reduce head loss, assets and achieving a reasonable assurance of the reliability of financial statements and compliance with laws and regulations will be. Internal control, not an event, but a series of operations and activities on the basis of output. Internal controls help to achieve the goal of minimizing the problems of implementing appropriate internal controls. Internal control is an integral component of corporate governance that will provide reasonable assurance of achieving the organization's objectives. preventing, detecting errors and fraud goes to work. Responsibility for the prevention and detection of fraud and error in the public sector is the responsibility of managers. Managers of internal control and consistently applying appropriate accounting systems, this responsibility will play (Lin et al., 2011). Since the public sector organizations differ from each other, thus establishing internal controls cant be the same for all organizations and agencies of the public sector. Establish specific controls on each system to factors such as size, type of operation and organizational goals that the system is designed, it depends. On the other hand, rapid advances in information technology, the need to update internal control guidelines in relation to Create a new computer system so as to ensure that the activities of managers and effective control Should be updated if necessary.

Technological Contribution, Capital Structure, and Firm Performance: An Empirical Study in Vietnam

  • LUONG, Thu Thuy
    • The Journal of Asian Finance, Economics and Business
    • /
    • v.9 no.9
    • /
    • pp.309-316
    • /
    • 2022
  • In 2011, the 4th industrial revolution officially occurred and developed in most countries. The fourth industrial revolution has given organizations numerous business opportunities, enabling them to optimize their manufacturing processes, cut costs, and thereby improve their operations. The development of enterprises is a decisive factor in increasing national productivity, thereby improving economic growth and per capita income. Therefore, it is necessary to grasp the digital transformation plan and apply science and technology to domestic enterprises and improve the operational efficiency of the economy. Research on small and medium enterprises in Hanoi, Vietnam, which is considered a successful country in economic development and digital transformation and has become a middle-income economy and a highly open economy, the research results suggest that the ability to apply technology in businesses is capable of improving corporate financial performance. The choice of capital structure favoring debt has a negative effect on the financial performance of the enterprise; that is, enterprises in Vietnam should limit the choice of financing investment projects with debt, on the contrary, enterprises should choose to finance with equity. Finally, the study also discusses managerial implications for improving business performance in the context of the rapidly evolving 4.0 technology revolution.

Cultivation Marketing and Effect Measurement for Improving Sale and Retention of Additional Service Product of A Mobile Telephone Company (이동통신사의 부가서비스 상품 판매와 유지 증대를 위한 Cultivation 마케팅과 성과측정)

  • Chun, Heui-Ju
    • Korean Management Science Review
    • /
    • v.26 no.3
    • /
    • pp.11-21
    • /
    • 2009
  • In this paper, we proposed some valuable analysis results of cultivation campaign marketing in A mobile telephone company. The cultivation campaign marketing is a new outbound TM campaign strategy composed of 4 steps for new subscribers. During the analyses, attrition rate of A mobile company, outbound TM rejection rate, contact rate/call success rate and additional service attrition rate after subscription are measured as an effect of cultivation campaign. The results showed that there were no statistical significance in improving retention rate between customers experienced 4 step cultivation campaign and control group. However, the cultivation campaign had a better effect on improving response rate and success of selling additional service product of mobile company compared to general selling campaign. This is because cultivation campaign group had been taking care of from subscription time. It is suggested that cultivation campaign had better confined customers more likely to buy additional service to outbound TM for the sake of financial efficiency.

A study on the Planning of Ubiquitous System for Instrumentation management of Retaining wall in Building Construction (건축공사 흙막이 계측관리를 위한 유비쿼터스 시스템 구축 방안에 관한 연구)

  • Lee Ung-Kyun;Jo Ho-Kyoo;Kim Gwang-Hee;Kang Kyung-In
    • Proceedings of the Korean Institute of Building Construction Conference
    • /
    • v.y2004m10
    • /
    • pp.67-70
    • /
    • 2004
  • The ubiquitous computing environment is widely expanded in almost all industries such as transportation. physical distribution, manufacturing, communication, tourist industry, financial business, and so on. But the construction industry is not well applied yet. Thus this study investigate the ubiquitous computing environment and propose a way for applying this technology to the construction industry. To achieve this aim, this study consider about a instrumentation management of retaining wall system in earthmoving operations, and suggest the ubiquitous system configuration to measure the variance of retaining wall. Through this system, the efficiency of the instrumentation management of retaining wall will be improved.

  • PDF

Online Channel Strategies of Hybrid Firms and Social Cost

  • Cho, Su-Mi;Lee, Sang-Ho
    • Management Science and Financial Engineering
    • /
    • v.13 no.1
    • /
    • pp.55-72
    • /
    • 2007
  • We consider the product differentiation model of online channel competition and examine the strategies of hybrid firms in terms of efficiency. After measuring the social cost of online business strategies, we show that (i) online channel of hybrid firm under blockaded entry may increase the social cost if the firms' delivery cost is sufficiently smaller than the consumer's transportation cost, and (ii) online competition under free entry may increase the social cost if the firms' delivery cost is sufficiently larger than the consumer's transportation cost. Finally, we discuss the strategic incentive of hybrid firms to reduce delivery cost and investigate the effect of the Internet maturity on the social cost.

Multi-station Fixture Layout Design Using Simulated Annealing

  • Kim, Pansoo;Seun, Ji Ung
    • Management Science and Financial Engineering
    • /
    • v.10 no.2
    • /
    • pp.73-87
    • /
    • 2004
  • Automotive and aircraft assembly process rely on fixtures to support and coordinate parts and subassemblies. Fixture layout in multi-station panel assemblies has a direct dimensional effect on final products and thus presents a quality problem. This paper describes a methodology for fixture layout design in multi -station assembly processes. An optimal fixture layout improves the robustness of a fixture system against environmental noises, reduces product variability, and eventually leads to manufacturing cost reduction. One of the difficulties raised by multi-station fixture layout design is the overwhelmingly large number of design alternatives. This makes it difficult to find a global optimality and, if an inefficient algorithm is used, may require prohibitive computing time. In this paper, simulated annealing is adopted and appropriate parameters are selected to find good fixture layouts. A four-station assembly process for a sport utility vehicle (SUV) side frame is used throughout the paper to illustrate the efficiency and effectiveness of this methodology.

Side Channel Analysis with Low Complexity in the Diffusion Layer of Block Cipher Algorithm SEED (SEED 블록 암호 알고리즘 확산계층에서 낮은 복잡도를 갖는 부채널 분석)

  • Won, Yoo-Seung;Park, Aesun;Han, Dong-Guk
    • Journal of the Korea Institute of Information Security & Cryptology
    • /
    • v.27 no.5
    • /
    • pp.993-1000
    • /
    • 2017
  • When the availability of embedded device is considered, combined countermeasure such as first-order masking and hiding countermeasures is quite attractive because the security and efficiency can be provided at the same time. Especially, combined countermeasure can be applied to the confusion and diffusion layers of the first and last rounds in order to provide the efficiency. Also, the middle rounds only employs first-order masking countermeasure or no countermeasure. In this paper, we suggest a novel side channel analysis with low complexity in the output of diffusion layer. In general, the attack target cannot be set to the output of diffusion layer owing to the high complexity. When the diffusion layer of block cipher is composed of AND operations, we show that the attack complexity can be reduced. Here, we consider that the main algorithm is SEED. Then, the attack complexity with $2^{32}$ can be reduced by $2^{16}$ according to the fact that the correlation between the combination of S-box outputs and that of the outputs of diffusion layer. Moreover, compared to the fact that the main target is the output of S-box in general, we demonstrate that the required number of traces can be reduced by 43~98% in terms of simulated traces. Additionally, we show that only 8,000 traces are enough to retrieve the correct key by suggested scheme, although it fails to reveal the correct key when performing the general approach on 100,000 traces in realistic device.

APPLICATION OF PROJECT MANAGEMENT: LEAN TECHNOLOGIES AND SAVING MANUFACTURING (ASPECTS OF MANAGEMENT AND PUBLIC ADMINISTRATION)

  • Kulinich, Tetiana;Berezina, Liudmyla;Bahan, Nadiia;Vashchenko, Iryna;Huriievska, Valentyna
    • International Journal of Computer Science & Network Security
    • /
    • v.21 no.5
    • /
    • pp.57-68
    • /
    • 2021
  • Successfully adapting to digital and customer-oriented transformation, the concept of lean manufacturing professes the philosophy of creating greater benefit while minimizing losses. These losses are operations that do not add value in the production process to ensure the efficiency, flexibility, and profitability of projects. In the context of broad automation and digitalization of all sectors of the economy, mechanisms for combining automation technologies and lean production are becoming available. Moreover, when it comes to the efficient use of financial, human, or material resources, it is clear that the use of Industry 4.0 technologies can be an effective tool for achieving the goals of lean production, as many of them pursue the same goal. In this context, this article aims to study the effectiveness of the implementation of project management concepts at the global level and identify the main factors influencing its effectiveness to ensure the achievement of lean production through LEAN technologies and Industry 4.0 technologies. To achieve this goal, several statistical indicators were selected and several statistical methods of analysis were used: pairwise correlation, regression analysis, methods of comparison, synthesis, and generalization. Statistical analysis was conducted according to a survey conducted by the Project Management Institute (PMI) in 2020. An economic-mathematical model of dependence of project effectiveness in different regions of the world on the level of implementation of project management approaches is built, which shows that the increase in project effectiveness by 85% is due to financial losses, technical training, and consumer orientation. These results allow project managers to develop appropriate strategies to improve project management approaches at all levels. It is established that LEAN technologies and technologies of Industry 4.0 have several tools that have a positive effect on minimizing losses following the concept of lean production. Besides, given that the technology of Industry 4.0 is focused on the automation of Lean Production technology, a mechanism for the introduction of lean production using these technologies and methods.