• Journal of the Korean Operations Research and Management Science Society
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• v.39 no.4
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• pp.153-165
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• 2014

We present a new framework for rental capacity management in which rental capacity is dynamically managed by means of temporary inventory addition/return. While serving customers with its own (native) capacity, the rental firm rents additional rental capacity from an upper echelon rental company so that it can avoid lost sales which may occur when stock is not sufficient, and returns it when stock becomes sufficiently large enough to cope with demands. Formulating the model as a Markov decision process, we investigate a flexible capacity addition/return policy that maximizes the firm's profit with respect to system costs. Numerical study indicates that rental operation with capacity addition/return can be economically favorable over rental operation without capacity expansion/return and can contribute the reduction in the size of native rental capacity.

• Journal of agriculture & life science
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• v.44 no.6
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• pp.191-199
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• 2010

How to determine rental rates of agricultural machinery operation is the most important factor for economic units which are consigned to practice agricultural operations. Economic units as consigner for agricultural operations include agricultural cooperatives, local government, and farm operators, and so on. Thus the methods to set a rental rate of agricultural machinery operation are different across these economic units. This study describes benefits and problems associated with the model of cost accounting which is used as a method to determine a rental rate of agricultural machinery operation, and suggests a theoretical desirability of the rental pricing method, based on an accounting system and information on costs.

• Journal of the Korean Operations Research and Management Science Society
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• v.31 no.3
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• pp.81-96
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• 2006

We consider a rental company that dynamically manages Its capacity level through capacity addition and return While serving customer with its own capacity, the company expands its capacity by renting items from an outside source so that it can avoid lost opportunities of rental which occur when stock is not sufficient. If stock becomes sufficiently large enough to cope with demands, the company returns expanded capacity to the outside source. Formulating the model into a Markov decision problem, we identify an optimal capacity management Policy which states when the company should expand its capacity and when it should return expanded capacity after capacity addition. Since it is intractable to analytically find the optimal capacity management policy and the optimal size of capacity expansion, we present a numerical procedure that finds these optimal values based on the value iteration method. Numerical analysis is implemented and we observe monotonic properties of the optimal performance measures by system parameters, which are meaningful in developing effective heuristic policies.

• Journal of the Korean Operations Research and Management Science Society
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• v.34 no.3
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• pp.55-69
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• 2009

It is often to apply revenue sharing models in rental industries which consist of a retailer and a wholesaler. This research analyzed the influences to profit of the supply chain if we adopt the revenue sharing model when the demand is uncertain and price sensitive. We found the conditions of the revenue sharing model to maximize the profit of the supply chain, and identified incentive compatible conditions for revenue sharing. It is proved that vertical integration guarantees maximization of profit for the supply chain. Also we found that it is possible to derive Incentive compatible schemes by controlling ranges of revenue sharing ratios.

• Korean journal of food and cookery science
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• v.14 no.5
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• pp.482-491
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• 1998

The objectives of this study were to characterize the food service managements in university food services. In a survey involving university food service centers throughout the country, the importance, performance scores and policies for food service management were investigated. Of the total 40 institutions surveyed, 23 were run directly by the institution, eight by contract, and nine by rental. Data were analyzed by t-test, ANOVA using the SPSS program. Management system was evaluated separately for organization, human resources, finance, nutrition education, purchasing, quality control, sanitation and safety, and marketing for their relative importance, degree of performance, and policy establishment. It was found that the relative importance scored higher than the degree of performance and policy establishment. When rhe relative importance for the direct, contract and rental operations was compared, the rental operation scored the highest. Performance score of direct was the highest in direct operation. The findings of this research suggest that the university food service should be creative through systematic management, and further research is needed to evaluate various variables that influence productivity, such as employee morale, pleasant working environment, customer satisfaction, and introduction of TOM for university food services.

• Journal of Biosystems Engineering
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• v.39 no.4
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• pp.267-273
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• 2014

Purpose: This study was conducted to develop a web-based business management system to ensure the efficient operation and transparent management of government-subsidized agricultural machinery rental businesses. Methods: An MS_SQL2000 database management system (DBMS) solution was utilized in the system for high system compatibility and integrated management. This system was targeted to be compatible with Internet Explorer 6.0 or later and to ensure security and seamless web operations. The system administrator is able to manage a fleet of agricultural machinery, including various inventory codes, release and return, fleet registry, and business performance. Users (farmers) may search the database of rental machinery and reserve them. Results: With respect to rental reservations, the system administrator can manage the fleet by setting the rental status to Approved, Released, or Returned. Through the web, the administrator can also create a database that includes machinery specifications, features, and rental rates. In addition, business performance data can be analyzed using a diverse array of tools to streamline the rental business. Without having to go to the rental office, users can save time and money by searching for and renting agricultural machinery through the information available on the website, including availability, specifications, and rental fees. After deploying the system, the time required to analyze monthly performance and create reports was dramatically reduced from 20 days per person to one day per person. Conclusions: Since 2014, AMRB has been installed and is operating in agricultural machinery rental businesses in 31 cities and counties in South Korea. This study recommends continued expansion and dissemination of AMRB for the systematic and efficient management of agricultural machinery rental businesses.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2000.10a
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• pp.302-305
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• 2000

The operation of a networked computing system (NCS), such as Internet, can be viewed as a resource allocation problem, and can be analyzed using the techniques of mathematical modeling. We define a general NCS and translate that setup into a model of an economy. The preferences of users are taken as primitives, and servers in the network are viewed as productive firms with priority input queues. Each sewer charges a rental price for its services by priority class. We characterize optimal system allocation, and derive formulae for supporting rental prices and priority premia such that the aggregated individual user demands do not exceed optimal levels and waiting-time expectations are correct. Our economic approach has the added benefit of providing a sound basis for evaluating NCS investment alternatives, using a process analogous to free entry and exit in free-enterprise economies.

• Journal of the Korean Operations Research and Management Science Society
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• v.41 no.1
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• pp.41-53
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• 2016

Static repositioning is a well-known and commonly used strategy to maximize customer satisfaction in public bike-sharing systems. Repositioning is performed by trucks at night when no customers are in the system. In models that represent the static repositioning problem, the decision variables are truck routes and the number of bikes to pick up and deliver at each rental station. To simplify the problem, the decision on the number of bikes to pick up and deliver is implicitly included in the truck routes. Two relocation-based local search algorithms (1-relocate and 2-relocate) with the best-accept strategy are incorporated into a variable neighborhood search (VNS) to obtain high-quality solutions for the problem. The performances of the VNS algorithm with the effect of local search algorithms and shaking strength are evaluated with data on Tashu public bike-sharing system operating in Daejeon, Korea. Experiments show that VNS based on the sequential execution of two local search algorithms generates good, reliable solutions.

• Journal of the Korean Institute of Landscape Architecture
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• v.48 no.1
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• pp.1-14
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• 2020

Various policies and studies regarding use of PBSS (Public Bike Sharing System) and Programs (PBSP) have been conducted worldwide as the number systems or programs has increased. Although various phenomena and demands have been generated by the use of PBSS in everyday life, the majority of research and the policies in South Korea have been implemented focused on commuting life. The purpose of this study aimed to understand various PBSS demands using PBSS usage data in 2018 in the Yeouido districts through classifying usage patterns and analyzing features. The rental stations were classified into three types based on weekday/weekend usage rates. The usage of Yeouido's PBSS accounted for 4.3% of the total usage in Seoul Metropolitan City, while the number of PBSS rental stations accounted for 2% of all rental stations in the Seoul urban areas. Rental stations with a higher weekday utilization rates showed high utilization rates in all four seasons and were mainly distributed in work and residential areas. Other stations showed a concentrated usage pattern in spring (April-May) and autumn (September-October) seasons, and their locations were close to the entrance of nearby parks. Besides, renting and returning were often concentrated at certain rental stations for high weekend utilization as compared to the pattern of high weekday usage. Therefore, PBSS management and programs should be operated to reflect various usage demands rather than uniform PBSS operations. The result of this study is meaningful to provide basic data for effective PBSS operation by monitoring the demand for PBSS usage in spatio-temporal terms.

• Journal of Distribution Science
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• v.11 no.2
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• pp.11-21
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• 2013

Purpose - The purpose of the study is to promote the adoption of traditional liquor product contents in order to revitalize the market and to increase consumer awareness of traditional liquor. Research design, data, methodology - In this study, the 4P relationship model was evaluated that included the self-supporting business of traditional liquor, continuous business, diversification of the types of the liquor, and discovery of preliminary social enterprises for the distribution of the liquor. Results - The study suggested a 4P relationship model that consisted of traditional liquor as the product, traditional market as the place, promotion within traditional market, and payment of labor costs. In other words, selection of the traditional liquor product, place, rental supports, distribution and delivery strategies, operations, public relations and training, foundation of social enterprises, and discussion between departments. Conclusions - The central government, local governments, and merchants (the market association) should actively cooperate with each other to revitalize the market for traditional liquor. Social enterprises that rely on a non-profit business model are likely to revitalize the traditional liquor market.