• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.34
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• pp.61-67
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• 1995

Through the model presented in this paper, we study on the depletion of stock taking place due to random loss of items as well as random demand, under the assumption that the distributions of demand are independent of those of loss, and both of them are identical, and that life time distribution of each item is negative exponential. The steady state probability distribution of the stock level assuming instantaneous delivery of order under (s, S) inventory policy. Also we have derived total expected cost expression with loss cost. The results of sensitive analysis show that the effect of loss rate is substantial on the total cost and optimal value of inventory level.

• Journal of Institute of Control, Robotics and Systems
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• v.16 no.3
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• pp.305-312
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• 2010

The aim of this study is to find an analytic solution to the problem of determining the optimal capacity of a batch-storage network to meet demand for finished products in a system undergoing joint random variations of operating time and batch material loss. The superstructure of the plant considered here consists of a network of serially and/or parallel interlinked batch processes and storage units. The production processes transform a set of feedstock materials into another set of products with constant conversion factors. The final product demand flow is susceptible to joint random variations in the cycle time and batch size. The production processes have also joint random variations in cycle time and product quantity. The spoiled materials are treated through regeneration or waste disposal processes. The objective function of the optimization is minimizing the total cost, which is composed of setup and inventory holding costs as well as the capital costs of constructing processes and storage units. A novel production and inventory analysis the PSW (Periodic Square Wave) model, provides a judicious graphical method to find the upper and lower bounds of random flows. The advantage of this model is that it provides a set of simple analytic solutions while also maintaining a realistic description of the random material flows between processes and storage units; as a consequence of these analytic solutions, the computation burden is significantly reduced. The proposed method has the potential to rapidly provide very useful data on which to base investment decisions during the early plant design stage. It should be of particular use when these decisions must be made in a highly uncertain business environment.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.19 no.37
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• pp.31-40
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• 1996

The amount of safety stock is decided from various information such as the forecasted demand, the lead time, the size of the order quantity and the desired service level. There are two cases to consider the problem of setting safety stock when both the demand in a period and the lead time are characterized as random variables: the first case is the parameters of the demand and lead time distributions are known, the second case is they are unknown and must be estimated. The objective of this study is to present the procedure for setting safety stocks in the case the parameters of the demand and lead time distributions are unknown and must be estimated. In this study, a simple exponential smoothing model is used. to generate the estimates of demand in each period and a discrete distribution of the lead time is developed from historical data, and the optimal service level is used which determined to consider both of a backorder and lost sale.

• Management Science and Financial Engineering
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• v.19 no.1
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• pp.1-10
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• 2013

Hierarchical forecasting strategy does not always outperform direct forecasting strategy. The performance generally depends on demand features. This research guides the use of the alternative forecasting strategies according to demand features. This paper developed and evaluated various classification models such as logistic regression (LR), artificial neural networks (ANN), decision trees (DT), boosted trees (BT), and random forests (RF) for predicting the relative performance of the alternative forecasting strategies for the South Korean navy's spare parts demand which has non-normal characteristics. ANN minimized classification errors and inventory costs, whereas LR minimized the Brier scores and the sum of forecasting errors.

• Journal of the Korea Safety Management & Science
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• v.8 no.3
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• pp.115-123
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• 2006

The main focus of this study is to investigate the performance of a clark-scarf type multi-echelon serial supply chain operating with a base-stock policy and to optimize the inventory levels in the supply chains so as to minimize the systemwide total inventory cost, comprising holding and backorder costs as all the nodes in the supply chain. The source of supply of raw materials to the most upstream node, namely supplier, is assumed to have an infinite raw material availability. Retailer faces random customer demand, which is assumed to be stationary and normally distributed. If the demand exceeds on-hand inventory, the excess demand is backlogged. Using the echelon stock and demand quantile concepts and an efficient simulation technique, we derive near optimal inventory policy. Additionally we discuss the derived results through the extensive experiments for different supply chain settings.

• Journal of the Korean Operations Research and Management Science Society
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• v.12 no.1
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• pp.27-33
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• 1987

A stochastic model for an inventory system in which depletion of stock takes place due to random demand as well as random loss of items is studied under the assumption that the intervals between cussessive unit demands as well as those between cussessive unit losses, are independently and identically distributed random variables having negative exponential distributions with respective parameters .mu. and .lambda. It is further assumed that leadtime for each order is an outstanding-order-dependent random variable. The steady state probability distribution of the net inventory level is derived under the continuous review (S -1, S) inventory policy, from which the total expected coast expression is formulated.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2005.10a
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• pp.365-368
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• 2005

이동중인 단말에게 인터넷 서비스를 제공하고자 하는 WiBro 시스템은, 무선자원의 효율적인 사용을 위해서 전송할 데이터가 있는 단말들에게만 대역폭을 할당하는 demand-based 대역폭 할당 방식을 사용한다. 이때 여러 단말들이 동시에 데이터를 전송하고자할 경우 충돌이 발생하므로 이들의 전송순서를 정해주는 것이 필요하다. 기존의 WiBro 시스템에서는 binary exponential backoff algorithm 에 기초한 random access 기법을 사용하는데, 본 연구에서는 conflict resolution 기법에 기초한 새로운 random access 기법을 제안하고, 새로운 기법의 성능이 보다 우수함을 시뮬레이션을 통해 보였다.

• East Asian Economic Review
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• v.19 no.1
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• pp.3-38
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• 2015

Fama's (1984) volatility relations show that the risk premium in foreign exchange markets is more volatile than, and is negatively correlated with the expected rate of depreciation. This paper studies these relations from the perspective of goods markets frictions. Using a sticky-price general equilibrium model, we show that near-random walk behaviors of both exchange rates and consumption, in response to monetary shocks, can be derived endogenously. Based on this approach, the paper provides quantitative results on Fama's volatility relations.

• Journal of Electrical Engineering and Technology
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• v.11 no.2
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• pp.300-308
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• 2016

Application of demand-side resources to automatic generation control (AGC) has a great significance for improving the dynamic control performance of power system frequency regulation. This paper investigates the possibility of providing regulation services by demand-side energy storage in electric vehicle battery swapping stations (BSS). An interaction framework, namely station-to-grid (S2G), is presented to integrate BSS energy storage into power grid for giving benefits to frequency regulation. The BSS can be regarded as a lumped battery energy storage station through S2G framework. A supplementary AGC method using demand-side BSS energy storage is developed considering the vehicle user demand of battery swapping. The effects to the AGC performance are evaluated through simulations by using a two-area interconnected power grid model with step and random load disturbance. The results show that the demand-side BSS can significantly suppress the frequency deviation and tie-line power fluctuations.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.39A no.11
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• pp.675-681
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• 2014

As the recently soaring wireless traffic, small-cell techniques have been actively studied in order to support such a wireless demand for cellular wireless networks. This paper studies interference mitigation methods for random-access small-cell networks. Although inter-cell interference between small random-access cells is one of the main factors to degrade overall performance, most of the previous works focused on interference mitigation between users in each cell. To address such limitation, dynamic opportunistic interference alignment is proposed exploiting statistical characteristics of random-access. It is demonstrated by simulation that the proposed scheme outperforms the previous approach as the number of cells or the number of users in each cell increases.