• Journal of Korean Society for Quality Management
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• v.19 no.1
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• pp.95-102
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• 1991

This paper is concerned with the production-distribution problem with multiple conflicting objectives. In reality business firms should take account not only of the profit maximization but of various environmental criteria, namely customer services, in order to improve the business logistics. A production-distribution model of goal porgramming type considering the lead time and distribution cost by products is constructed, the solution algorithm is developed, which is based on the Ignizio's method. A numerical example is given to demonstrate the applicability of goal programming for production-distribution problem.

• The Journal of the Korea Contents Association
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• v.6 no.7
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• pp.22-30
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• 2006

The goal of the company and profit maximization can be achieved by creating revenue or reducing costs. What can be done by the effort of the firm itself is possible through cost-reduction rather than through revenue-creation. Under this economic situation, one of the best way for cost-reduction is to reduce cost of logistics. But logistics costs of a firm is continually increased because of the various customer-satisfaction, competition. This study considers that logistics cost management system be able to apply business practice through to used only a merit of CVP(Cost - Volume Profit) analysis method for effective decision making. To conclude, this study depicts that logistics cost management according to used a merit of CVP analysis method can provide information useful for making strategy of logistics. In short, It is reduce to more costs of logistics investment than are necessary. and, I will expect a man who charge logistics to improvement, adaptation, and application.

• Journal of Distribution Science
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• v.15 no.11
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• pp.73-82
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• 2017

Purpose - This paper aims to investigate a profit maximizing incentive of foreign traders in distributing the KOSPI 200 Futures. Such an incentive may induce unsophisticated retail traders to suffer loss from speculative trading. Since Korean government increased the entry barriers of the market to protect unsophisticated traders, the market size has been decreasing while the proportion of the contract held by foreign traders has been increasing. These on going changes make the market imperfectly competitive, where a profit maximization incentives of foreign traders are expected to grow. In this paper, we attempt to find any evidence of such behavior, thereby providing implications regarding market policy and market efficiency. Research design, data, and methodology - According to Kyle(1985), an informed trader exploits his/her monopoly power optimally in a dynamic context so that he/she makes positive profit, where he/she could conceal his/her trading utilizing noise trading as camouflage. We apply the KOSPI 200 Futures market to the Kyle's model: foreign traders who take into account the effect of his/her trading to maximize expected profits as an informed trader, retail investors as noise traders, and financial institutions as market makers. To find any evidence of monopolistic behavior, we test the variants of trading volume and price data of the KOSPI 200 Futures over the period of 2009 and 2017. Results - First, we find that the price of the KOSPI 200 Futures are more volatile than the price of underlying asset. Second, we find that monopolistic foreign trader's trading order flows are consistent with exploiting his/her monopoly power to maximize profit. Finally, we find that retail investors' trading order flows are inversely consistent with maximizing profit, that is, uninformed retail investors suffer loss continuously in speculative trading against informed traders. Conclusions - Our results show that the quantity of strategic order flows may have a large effect on the price, therefore, resulting the market inefficiency. The results also imply that, in implementing regulations, the depth of the market must be considered to maintain market liquidity, and suggesting interesting research topics regarding the market structure.

• The Journal of Fisheries Business Administration
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• v.14 no.1
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• pp.1-18
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• 1983

This study has examined the principle of rationalization as a guiding principle in fisheries management. Generally speaking, the guiding principle of business management is the principle of profitability which is oriented to the profit maximization, but it has been insisted by Dr, Mohri that the principle of profitability should be translated into the maximization of ratio of added value on gross capital, According to Dr. Durcker, added value (contributed value) can be used to analyze productivity only if the allocation of costs which together make up the figures is economically meaningful. Therefore, the rationalization of fisheries management can be measured as a result of economic allocation of costs, The analysis of economic allocation of costs divides into macro-allocation of costs and micro-allocation of costs. In fisheries management, the former makes use of the analysis of break-even point, and the latter analyzes the efficiency of individual cost respectively and the state of division of costs which allocate into above-the-line expenses of lay system and management's burden expenses. In macro-allocation of costs, it is advisable that fixed costs be converted into variable costs. This is characteristically possible in fisheries management, because wages belong to variable costs in fisheries management while they are regarde as fixed cost in the other industires. Because we could find that all costs would belong to above-the-line expenses, in micro-allocation analysis, the very costs which are directly related to fisherman's poduction activity should be classified into above-the-line expenses, and the other costs into management's burden expenses. This is a central problem in the rationalization of fisheries management.

• Journal of Arbitration Studies
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• v.10 no.1
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• pp.115-133
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• 2000

All kinds of commerces are begun from the contract and the claims are frequently raised by the problem in the contracts. Therefore, the negotiation is very important to make a contract and resolve the claim. This article analyzed the negotiation practice of Chinese in order to render help to negotiators who enter into negotiations with Chinese business people so that they can enhance their chance for success. Based on this examination on the negotiating style, this paper also provides the some guidelines in working-level negotiating with Chinese. For the purpose this study applies "global negotiation flowchart" and twelve important factors suggested by stephen & stripp to analyze the characteristics of Chinese business negotiating style. The results suggest some useful criteria for negotiators First, In the preparation, the negotiator need a thorough study about the Chinese negotiating style and counter party. Second, In the negotiation with the Chinese, making the personal relationship and, if possible, frequent contact with the person who is the most powerful negotiator in decision-making. Third, since the Chinese has a sense of value that money is very important, it is very necessary that the negotiator persuade him by mutual profits. Finally, negotiators must aim at long-term profit maximization not at short-term.

• The Journal of Industrial Distribution & Business
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• v.14 no.6
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• pp.17-25
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• 2023

Purpose: This study observes how the consignment performs over time and proposes the proper way to operate the consignment to bring its best benefit to the supply chain system. Research design, data, and methodology: The supply chain system is represented as the mathematical model where a manufacturer and a retailer trade one type of products to maximize their own profits. In the numerical examples of the proposed models, the consignment is compared with the fully coordinated system as well as the traditional system, and both advantages and limitations of the consignment are detected. Results: The consignment makes greater profit than the traditional system after a certain time period. The consignment is still outperformed by the fully coordinated system. The numerical examples also show that the performance of the consignment is sensitive to the consignment ratio. Conclusions: This study finds out that a certain time period must be spent until the consignment brings the benefit to the supply chain system. The numerical outcomes also imply that the consignment requires additional features to be a completely effective supply chain collaboration program. To obtain the best result from the consignment, the supply chain members are recommended to decide the appropriate consignment ratio by consent.

• The Journal of the Korea Contents Association
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• v.19 no.4
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• pp.79-90
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• 2019

As an increasing number of cloud service providers begin to provide cloud computing services, they form a competitive market to compete for users. Due to different resource configurations and service workloads, users may observe different response times for their service requests and experience different levels of service quality. To compete for cloud users, it is crucial for each cloud service provider to determine an optimal price that best corresponds to their service qualities while also guaranteeing maximum profit. To achieve this goal, the underlying rationale and characteristics in this competitive market must be clarified. In this paper, we analyze price competition in the multimedia cloud service market with two service providers. We characterize the nature of non-cooperative games in a duopoly multimedia cloud service market with the goal of capturing how each cloud service provider determines its optimal price to compete with the other and maximize its own profit. To do this, we introduce a queueing model to characterize the service process in a multimedia cloud data center. Based on performance measures of the proposed queueing model, we suggest a price competition problem in a duopoly multimedia cloud service market. By solving this problem, we can obtain the optimal equilibrium prices.

• Journal of Technology Innovation
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• v.14 no.1
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• pp.101-118
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• 2006

The relationship between R&D Polices(R&D subsidy, tax incentives) and firm R&D expenditures is analyzed through firm's profit maximization function. As a result, the relationship between R&D policies and fmn R&D expenditures is determined by the relationship between firm R&D expenditures and market price. In case of major innovation which cause the fall of market price, the elasticity R&D subsidy and firm R&D expenditures is negative(substitution). In case of minor innovation which cause the rise of market price, the elasticity R&D subsidy and firm R&D expenditures is positive(complement). Tax incentives is bring about the increase of firm R&D expenditures. R&D subsidy and tax incentives are substitutively influenced at firm R&D expenditures.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.7
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• pp.352-357
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• 2005

In competitive electricity markets, the System Operator (SO) coordinates the overall maintenance schedules when the collective maintenance schedule reported to 50 by Gencos not satisfy the specified operating criteria, such as system reliability or supply adequacy. This paper presented a method that divides generator maintenance scheduling of the 50 into a master-problem and a sub-problem. Master-problem is schedule coordination and sub-problem is DC-optimal power flow. If sub-problem is infeasible, we use the algorithm of modifying operating criteria of master-problem. And, the 50 should use the open information only, because the information such as cost function of a generator and bidding Price is highly crucial for the strategies of profit maximization.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.9
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• pp.521-528
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• 2004

The demise of the native franchise markets and the emergence of competitive markets in electricity generation service is substantially altering the way that operation and planning activity is conducted and is making it increasingly difficult for market participants such as generation firms to prospect the future electricity markets. Traditional generation expansion planning (GEP) problems which centrally determine the least-cost capacity addition plan that meets forecasted demand within pre-specified reliability criteria over a planning horizon (typically 10 to 20 years) is becoming no more valid in competitive market environments. Therefore, it requires to develop a new methodology for generation investments, which is applicable to the changed electric industry business environments and is able to address the post-privatization situation where individual generation firms seek to maximize their return on generation investments against uncertain market revenues. This paper formulates a new generation expansion planning problem and solve it in a market-oriented manner.