• Journal of Electrical Engineering and Technology
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• v.7 no.5
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• pp.681-688
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• 2012

This paper presents the application of Differential Evolution (DE) algorithm to obtain a solution for Bid Based Dynamic Economic Dispatch (BBDED) problem including the transmission losses and to maximize the social profit in a deregulated power system. The IEEE-30 bus test system with six generators, two customers and two trading periods are considered under various bidding strategies in a day-ahead electricity market. By matching the bids received from supplying and distributing entities, the Independent System Operator (ISO) maximize the social profit, (with the choices available). The simulation results of DE are compared with the results of Particle swarm optimization (PSO). The results demonstrate the potential of DE algorithm and show its effectiveness to solve BBDED.

• Korean Management Science Review
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• v.25 no.1
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• pp.43-53
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• 2008

This paper considers a profit-based unit commitment problem with fuel consumption constraint and maintenance cost, which is one of the key decision problems in electricity industry. The nature of non-linearity inherent in the constraints and objective functions makes the problem intractable which have led many researches to focus on Lagrangian based heuristics. To solve the problem more effectively, we propose mixed integer programming based solution algorithm linearizing the complex non-linear constraints and objectives functions. The computational experiments using the real-world operation data taken from a domestic electricity power generator show that the proposed algorithm solves the given problem effectively.

• Journal of Korean Institute of Industrial Engineers
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• v.27 no.4
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• pp.424-431
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• 2001

This paper is concerned with the unconstrained two-dimensional cutting problem of cutting small rectangles (products), each of which has its own profit and size, from a large rectangle (material) to maximize the profit-sum of products. Since this problem is used as a sub-problem to generate a cutting pattern in the algorithms for the two-dimensional cutting stock problem, most of researches for the two-dimensional cutting stock problem have been concentrated on solving this sub-problem more efficiently. This paper improves Hifi and Zissimopoulos's recursive algorithm, which is known as the most efficient exact algorithm, by applying newly proposed upper bound and searching strategy. The experimental results show that the proposed algorithm has been improved significantly in the computational amount of time as compared with the Hifi and Zissimopulos's algorithm.

• ETRI Journal
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• v.37 no.5
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• pp.917-921
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• 2015

We consider a multiserver system with two classes of customers with preemption, which is a widely used system in the analysis of cognitive radio networks. It is known that the optimal admission control for this system is of threshold type. We express the expected total discounted profit using the total number of customers, thus reducing the stochastic optimization problem with a two-dimensional state space to a problem with a one-dimensional birth-and-death structure. An efficient algorithm is proposed for the calculation of the expected total discounted profit.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.28 no.10
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• pp.381-386
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• 2016

An optimization algorithm is developed based on a simulation case of a single family house model equipped with PV arrays. To increase the nationwide use of PV power generation facilities, a market-competitive electricity price needs to be introduced, which is determined based on the time of use. In this study, quadratic programming optimization was applied to minimize the electricity bill while maintaining the indoor temperature within allowable error bounds. For optimization, it is assumed that the weather and electricity demand are predicted. An EnergyPlus-based house model was approximated by using an equivalent RC circuit model for application as a linear constraint to the optimization. Based on the RC model, model predictive control was applied to the management of the cooling load and electricity for the first week of August. The result shows that more than 25% of electricity consumed for cooling can be saved by allowing excursions of temperature error within an affordable range. In addition, profit can be made by reselling electricity to the main grid energy supplier during peak hours.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.243-251
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• 2013

Cash management is a major concern for all contractors in the construction industry. It is arguable that cash is the most critical resource of all. A contractor needs to secure sufficient funds to navigate the project to the end, while keeping an eye on maximizing profits along the way. Past research attempted to address such topic via developing models to tackle the time-cost tradeoff problem, cash flow forecasting, and cash flow management. Yet, little was done to integrate the three aspects of cash management together. This paper, as such, presents a comprehensive model that integrates the time-cost tradeoff problem, cash flow management, and cash flow forecasting. First, the model determines the project optimal completion time by considering the different alternative construction methods available for executing project activities. Second, it investigates different funding alternatives and proposes a project-level cash management plan. Two funding alternatives are considered; they are borrowing and company own financing. The model was built as a combinatorial optimization model that utilizes ant colony search capabilities. The model also utilizes Microsoft Project software and spreadsheets to maintain an environment that incorporates activities, their durations, and other project data, in order to estimate project completion time and cost. Ant Colony Optimization algorithm was coded as a Macro program using VBA. Finally, an example project was used to test the developed model, where it acted reliably in maximizing the contractor's profit in the test project.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.23 no.5
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• pp.151-158
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• 2023

The researchers entirely focused on meta-heuristic method for generalized assignment problem(GAP) that is known as NP-hard problem because of the optimal solution within polynomial time algorithm is unknown yet. On the other hand, this paper proposes a heuristic greedy algorithm with rules for finding solutions. Firstly, this paper reduces the weight matrix of original data to w_ij ≤ b_i/l in order to n jobs(items) pack m machines(bins) with l = n/m. The maximum profit of each job was assigned to the machine for the reduced data. Secondly, the allocation was adjusted so that the sum of the weights assigned to each machine did not exceed the machine capacity. Finally, the k-opt swap optimization was performed to maximize the profit. The proposed algorithm is applied to 50 benchmarking data, and the best known solution for about 1/3 data is to solve the problem. The remaining 2/3 data showed comparable results to metaheuristic techniques. Therefore, the proposed algorithm shows the possibility that rules for finding solutions in polynomial time exist for GAP. Experiments demonstrate that it can be a P-problem from an NP-hard.

• Journal of Korean Institute of Industrial Engineers
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• v.33 no.2
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• pp.282-289
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• 2007

While demands for express couriers service are rapidly increasing due to recent progress of electronic commerce, express courier service companies are struggling to take a larger market share through ongoing improvement in their service processes. Cut-off time is the time limit that all orders delivered before the limit are guaranteed for the delivery within the very next day. Extending cut-off time for express service centers can provide the express company with increase of total sales, but it may also cause increasing the possibility not to satisfy customer needs due to work delay in the consolidation terminal. We develop a design model for express courier service network based on a recursive optimization/simulation procedure. With the optimization model, we seek key design parameters such as the cut-off time for express service centers and the capacity of the consolidation terminal maximizing total sales profit while satisfying the desired level of performances. With the simulation model, we consider the dynamic nature of the network and obtain relationships between the design parameters and the performance measures with the multiple linear regression. The validity of the model is examined with an example.

• Journal of Distribution Science
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• v.17 no.4
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• pp.51-57
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• 2019

Purpose - This study aims to improve the distribution structure of the OLED market and develop cost-effective optimization techniques. Specifically, it is a study on the optimization of ferric chloride to improve the etch of SUS MASK for OLED. Research design, data, and methodology - Applying the optimal conditions of the experiment, the final confirmation was evaluated for improvement by the Process Capability Index (Cpk). It is possible to derive social performance such as improvement of precision of SUS MASK manufacturing, economic performance such as defect rate, reduction of waste generation and treatment cost, technological achievement such as SUS MASK production technology, improvement of profit structure of technology development and process improvement do. Results - The improvement of the Cpk before the improvement was made was confirmed to be 0.57% with a defect estimate of 25.07% with a failure estimate of 0.57% after the improvement, and 8.84% with a failure estimate of 0.57% level after the improvement. Conclusions - If the conclusions obtained from the specimen experiment are applied to the manufacturing process of SUS MASK, it will be possible to expect excellent cost-effective competitiveness due to the improvement of precision and reduction of defect rate to enhance the OLED market penetration.

• Nuclear Engineering and Technology
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• v.56 no.5
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• pp.1654-1666
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• 2024

The goal of this research is to propose a way to maximize small modular reactor (SMR) utilization to gain better market feasibility in support of carbon neutrality. For that purpose, a comprehensive tool was developed, combining off-design thermohydraulic models, economic objective models (levelized cost of electricity, annual profit), non-economic models (saved CO2), a parameter input sampling method (Latin hypercube sampling, LHS), and a multi-objective evolutionary algorithm (Non-dominated Sorting Algorithm-2, NSGA2 method) for optimizing a SMR-combined heat and power cycle (CHP) system design. Considering multiple objectives, it was shown that NSGA2+LHS method can find better optimal solution sets with similar computational costs compared to a conventional weighted sum (WS) method. Out of multiple multi-objective optimal design configurations for a 105 MWe design generation rating, a chosen reference SMR-CHP system resulted in its levelized cost of electricity (LCOE) below $60/MWh for various heat prices, showing economic competitiveness for energy market conditions similar to South Korea. Examined economic feasibility may vary significantly based on CHP heat prices, and extensive consideration of the regional heat market may be required for SMR-CHP regional optimization. Nonetheless, with reasonable heat market prices (e.g. district heating prices comparable to those in Europe and Korea), SMR can still become highly competitive in the energy market if coupled with a CHP system.