A new generation of the optimization techniques offers higher profits, visibility and faster reaction to market conditions

International Nuclear Information System (INIS)

Woolstencroft, W.

2004-01-01

The pace of change in the energy utility world is accelerating. The new political, environmental, and competitive pressures in all European countries mandate new ways to operate and find efficiencies. We are proposing a lot broader use of optimization technologies as they are starting to be practiced by lead edge energy companies. We will present a holistic case for optimization techniques at the global and local level that are integrated with distributed control systems and each other. They yield a very high degree of transparency, high speed optimization and fast reaction capability with complete profit understanding. This case deals with most of the pressures facing modern utility companies. It is most appropriate for companies that operate a wider variety of generating technologies and which support the central processes like asset management, portfolio optimization, and utilities production planning. We will present best practice examples from industry and give indications of the gains made by those already practicing these techniques. Gains of 3 to 5 % of variable operating costs are standard for fairly small IT and organizational behaviour adjustments. (author)

EP BASED PSO METHOD FOR SOLVING PROFIT BASED MULTI AREA UNIT COMMITMENT PROBLEM

Directory of Open Access Journals (Sweden)

K. VENKATESAN

2015-04-01

Full Text Available This paper presents a new approach to solve the profit based multi area unit commitment problem (PBMAUCP using an evolutionary programming based particle swarm optimization (EPPSO method. The objective of this paper is to maximize the profit of generation companies (GENCOs with considering system social benefit. The proposed method helps GENCOs to make a decision, how much power and reserve should be sold in markets, and how to schedule generators in order to receive the maximum profit. Joint operation of generation resources can result in significant operational cost savings. Power transfer between the areas through the tie lines depends upon the operating cost of generation at each hour and tie line transfer limits. The tie line transfer limits were considered as a set of constraints during optimization process to ensure the system security and reliability. The overall algorithm can be implemented on an IBM PC, which can process a fairly large system in a reasonable period of time. Case study of four areas with different load pattern each containing 7 units (NTPS and 26 units connected via tie lines have been taken for analysis. Numerical results showed comparing the profit of evolutionary programming-based particle swarm optimization method (EPPSO with conventional dynamic programming (DP, evolutionary programming (EP, and particle swarm optimization (PSO method. Experimental results shows that the application of this evolutionary programming based particle swarm optimization method have the potential to solve profit based multi area unit commitment problem with lesser computation time.

Improving CLOPE’s Profit Value and Stability with an Optimized Agglomerative Approach

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Yefeng Li

2015-06-01

Full Text Available CLOPE (Clustering with sLOPE is a simple and fast histogram-based clustering algorithm for categorical data. However, given the same data set with the same input parameter, the clustering results by this algorithm would possibly be different if the transactions are input in a different sequence. In this paper, a hierarchical clustering framework is proposed as an extension of CLOPE to generate stable and satisfactory clustering results based on an optimized agglomerative merge process. The new clustering profit is defined as the merge criteria and the cluster graph structure is proposed to optimize the merge iteration process. The experiments conducted on two datasets both demonstrate that the agglomerative approach achieves stable clustering results with a better profit value, but costs much more time due to the worse complexity.

Optimal offering and operating strategies for wind-storage systems with linear decision rules

DEFF Research Database (Denmark)

Ding, Huajie; Pinson, Pierre; Hu, Zechun

2016-01-01

The participation of wind farm-energy storage systems (WF-ESS) in electricity markets calls for an integrated view of day-ahead offering strategies and real-time operation policies. Such an integrated strategy is proposed here by co-optimizing offering at the day-ahead stage and operation policy...... to be used at the balancing stage. Linear decision rules are seen as a natural approach to model and optimize the real-time operation policy. These allow enhancing profits from balancing markets based on updated information on prices and wind power generation. Our integrated strategies for WF...

The effects of Medicare Health Management Organizations on hospital operating profit in Florida.

Science.gov (United States)

Large, John T; Sear, Alan M

2005-02-01

Between 1992 and 1997, the number of members enrolled in Medicare Health Management Organizations (HMOs) nationwide in the USA more than doubled. During this period, managed care organizations wielded considerable influence over the health care of a large segment of the Medicare population in Florida. This study examined the impact on operational profit of 148 short-term, acute-care Florida hospitals in this period from Medicare HMO patients, as part of a hospital's payer mix. Three measures of hospital profitability were used: operating profit per actual bed, total operating profit with no adjustment for bed size, and operating margins. The multivariate statistical model employed in this study was a linear mixed model with an autoregressive order one (AR[1]) parametric structure on the covariance matrix. The results of the study indicate that Florida hospitals experienced greater profit pressures from Medicare HMO inpatients than from traditional Medicare inpatients. Further, these hospitals could have experienced positive profit effects with greater traditional Medicare participation and negative financial effects with greater Medicare HMO participation. Additionally, Medicare HMO patients appear to have been admitted to hospitals in worse health condition than those in traditional Medicare. Medicare HMO patients were more likely to have used emergency rooms as the source of admission than traditional Medicare patients. Also, Medicare HMO patients were more likely to have been admitted as emergent cases than traditional Medicare patients. Other research has shown that Medicare HMO patients, at the time of enrolment, are probably healthier than traditional Medicare enrollees, but here they appear to have been admitted to hospitals with higher levels of severity of illness. Explanations are offered for these findings.

Optimal Operation of Energy Storage in Power Transmission and Distribution

Science.gov (United States)

Akhavan Hejazi, Seyed Hossein

uncertainty from various elements, such as solar photovoltaic , electric vehicle chargers, and residential baseloads, in the form of discrete probability functions. In the last part of this thesis we address some other resources and concepts for enhancing the operation of power distribution and transmission systems. In particular, we proposed a new framework to determine the best sites, sizes, and optimal payment incentives under special contracts for committed-type DG projects to offset distribution network investment costs. In this framework, the aim is to allocate DGs such that the profit gained by the distribution company is maximized while each DG unit's individual profit is also taken into account to assure that private DG investment remains economical.

The Depreciation Impact of the Profit and Activity Development Carried out by an Economic Operator

OpenAIRE

Dobrota, Gabriela; Chirculescu, Felicia Maria

2008-01-01

It's interesting how an economic operator decides to depreciate its depreciable fixed assets, because depreciation is an expense input from the taxable profit in accordance with the laws in force, thus contributing to diminishing the operating profit/loss and implicitly the gross and net earnings, without real impact on profitability and especially without any impact on the self-funding capacity. But the impact given by the depreciation expenses may be influenced by the organization policy...

The effects of for-profit multihospital system ownership on hospital financial and operating performance.

Science.gov (United States)

Lynch, J R; McCue, M J

1990-11-01

The financial and operating performance of independent not-for-profit hospitals acquired by US for-profit multi-hospital systems in 10 Southern states between the years 1978 and 1982 was explored. The impact of system ownership on acquired hospitals was investigated by comparing the average financial performance of hospitals in the two years immediately prior to acquisition to the average for 1984 and 1985 and by comparing changes in the performance of acquired hospitals with changes in matched independent facilities. Findings suggest that for-profit multi-hospital systems were able to improve many of the financial and operating problems of acquired facilities. In comparison to independent not-for-profit hospitals, acquired hospitals were found to increase access to long-term debt, make improvements to plant and equipment, improve profitability, and increase efficiency to a greater extent. Prices in acquired hospitals rose more than those in independents and liquidity decreased to a greater extent.

Reference Tracking and Profit Optimization of a Power Plant

DEFF Research Database (Denmark)

Kragelund, Martin Nygaard; Leth, John-Josef; Wisniewski, Rafal

2010-01-01

In this paper we discuss two different methods for implementing reference tracking intro a profit optimization problem of a power plant. It is shown that tracking included as a side constraint results in an significant tracking error only when the reference gradient is large. When tracking...... is included in the cost function, as a quadratic term, the reference is tracked with a small accumulated error. Finally, the two methods are compared both in terms of tracking performance and computational burden....

Investigating the Nonlinear Relationship between Working Capital and Profitability: a Case of Pakistan Textile Firms

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Ashfaq Habib

2018-03-01

Full Text Available This study analyzes the impact of working capital (WCR on operating profit of Pakistan textile firms from 2009 to 2016. The nonlinear relationship has been found between working capital and operating profit, which indicates that an optimal level of working capital exists in the textile firms of Pakistan. The firms are seeking the optimal working capital, where WCR (4.78% of sales in generalized method of movement is used. Further, the study reveals that in the firms which maintain the positive working capital, it has a significant negative infl uence on the profitability, while in the firms with negative working capital, it has a significant positive infl uence on their profitability. The study also ascertains that cash holding level is an important factor for efficient working capital management.

Investigating the Nonlinear Relationship between Working Capital and Profitability: a Case of Pakistan Textile Firms

OpenAIRE

Ashfaq Habib; Xiaoxia Huang

2018-01-01

This study analyzes the impact of working capital (WCR) on operating profit of Pakistan textile firms from 2009 to 2016. The nonlinear relationship has been found between working capital and operating profit, which indicates that an optimal level of working capital exists in the textile firms of Pakistan. The firms are seeking the optimal working capital, where WCR (4.78%) of sales in generalized method of movement is used. Further, the study reveals that in the firms which maintain the posit...

Optimization of information properties of NAA with respect to information content and profitability of results

International Nuclear Information System (INIS)

Obrusnik, I.; Eckschlager, K.

1986-01-01

Information properties of analytical results together with other important parameters especially economic ones can be used for the optimization of analytical procedures. Therefore, we have proposed a computational technique for the optimization of multielement neutron activation analysis (NAA) based on the information content and profitability. The optimization starts with the prediction of the γ-ray spectra to be expected during analysis under given experimental conditions (sample size, irradiation, decay and counting times etc.) and with the calculation of detection and determination limits. In the next step, the information contents for the determination of particular elements and for the simultaneous determination of element groups are computed. The information content depends or is closely connected with such properties of the method as selectivity, snesitivity, precision, accuracy and, as in the other cases of trace analysis, also with the detection limit. Then, the information profitability (IP) taking into account the information content and relevance (appreciation of specific information according to its contribution to the solution of a given problem) together wit economic aspects can be calculated. This function can be used for the optimization of a particular NAA procedure, for the mutual comparison of different variants of NAA and also for the comparison with other analytical methods. The use of information profitability for the optimization of NAA is shown on a practical example of the INAA analysis of urban particulate matter SRN 1648 produced by NBS (USA). (author)

Capital Structure and Profitability of Quoted Companies in Nigeria

Directory of Open Access Journals (Sweden)

AMOS O. AROWOSHEGBE. Ph.D; ACA.

2013-07-01

Full Text Available The study examined the relationship of capital structure to profitability of quoted firms in Nigeria. The study was based on a panel data set from 1996 to 2010 comprising sixty non – financial companies. The study specified two panel regression models. Two profitability measures: Net Profit Margin (NPM and Operating Profit Margin (OPM were taken as the dependent variables respectively. The principal explanatory variable for each of the models was Debt Ratio (DR. The results of the study indicated that there was a significant negative relationship between capital structure and profitability of quoted companies in Nigeria. Indeed, the results the Pecking order theory that profitable firms do not target an optimal level of leverage to balance the benefits and costs of debt financing. Rather, firms use retained earnings first, then debts and finally equity. Such firms would actually be paying high tax charges and also high operating costs arising from over dependence on the money market for their funds requirements. It was recommended that appropriate fiscal policies, relevant capital market institutional and legal framework should be put in place. These measures, we believe, will ensure better access to funds and reduce the cost of doing business.

Operating Profitability of For-Profit and Not-for-Profit Florida Community Hospitals During Medicare Policy Changes, 2000 to 2010.

Science.gov (United States)

Langland-Orban, Barbara; Large, John T; Sear, Alan M; Zhang, Hanze; Zhang, Nanhua

2015-01-01

Medicare Advantage was implemented in 2004 and the Recovery Audit Contractor (RAC) program was implemented in Florida during 2005. Both increase surveillance of medical necessity and deny payments for improper admissions. The purpose of the present study was to determine their potential impact on for-profit (FP) and not-for-profit (NFP) hospital operating margins in Florida. FP hospitals were expected to be more adversely affected as admissions growth has been one strategy to improve stock performance, which is not a consideration at NFPs. This study analyzed Florida community hospitals from 2000 through 2010, assessing changes in pre-tax operating margin (PTOM). Florida Agency for Health Care Administration data were analyzed for 104 community hospitals (62 FPs and 42 NFPs). Academic, public, and small hospitals were excluded. A mixed-effects model was used to assess the association of RAC implementation, organizational and payer type variables, and ownership interaction effects on PTOM. FP hospitals began the period with a higher average PTOM, but converged with NFPs during the study period. The average Medicare Advantage effect was not significant for either ownership type. The magnitude of the RAC variable was significantly negative for average PTOM at FPs (-4.68) and positive at NFPs (0.08), meaning RAC was associated with decreasing PTOM at FP hospitals only. RAC complements other Medicare surveillance systems that detect medically unnecessary admissions, coding errors, fraud, and abuse. Since its implementation in Florida, average FP and NFP operating margins have been similar, such that the higher margins reported for FP hospitals in the 1990s are no longer evident. © The Author(s) 2015.

Is profitability a good proxy for efficiency? Evidence from the subsector of tour operators

Directory of Open Access Journals (Sweden)

Hedija Veronika

2017-12-01

Full Text Available The goal of the paper is to evaluate the economic efficiency of tour operators in the Czech Republic in the period 2007-2014 using data envelopment analysis (DEA models and prove the link between economic efficiency and profitability and to find out if profitability is a good proxy for economic efficiency. Data was exported from the database Albertina CZ Gold Edition. We calculated the efficiency score using CCR (Charnes, Cooper and Rhodes and BCC (Banker, Charnes and Cooper models based on 3 inputs and 1 output. In the years 2007 to 2010, the efficiency score of almost all the companies was higher than 0.5; however, in years since 2011, we revealed significant differences in the efficiency of individual firms and only about 40 percent of tour operators achieved an efficiency score higher than 0.5. Using Pearson and Spearman correlation coefficients, our findings show that, in the case of the Czech tour operator market, profitability ratios do not correspond with firm efficiency. Profitability ratios are not a good proxy for economic efficiency and should not be used as the only firm criterion of performance.

Mapping the Profit Motive: The Distinct Geography and Demography of For-Profit Charter Schools

Science.gov (United States)

Robertson, W. Brett

2015-01-01

For-profit charter schools represent a controversial new market-based education reform (Garcia, Barber, & Molnar, 2009; Conn, 2002). This essay explores how schools operated by for-profit corporations differ from those operated by non-profit organizations. Specifically, do for-profit charter schools locate in demographically distinct areas and…

In California, not-for-profit hospitals spent more operating expenses on charity care than for-profit hospitals spent.

Science.gov (United States)

Valdovinos, Erica; Le, Sidney; Hsia, Renee Y

2015-08-01

In exchange for sizable tax exemptions, not-for-profit hospitals must engage in activities that meet the Internal Revenue Service's community benefit standard. The provision of charity care-free care to those unable to pay-can help meet that standard. Bad debt, the other form of uncompensated care, cannot be used to meet the standard, although Medicaid shortfalls can. However, the ACA lacks guidelines for providing charity care, and federal law sets no minimum requirements for community benefit activities. Using data from California, we examined whether the levels of charity and uncompensated care provided differed across general acute care hospitals by profit status and other characteristics during 2011-13. The mean proportion of total operating expenses spent on charity care differed significantly between not-for-profit (1.9 percent) and for-profit hospitals (1.4 percent), in contrast to the mean proportion spent on uncompensated care. Both types of spending varied widely across hospitals. Policy makers should consider measures that remove disincentives to meeting the persistent considerable need for charity care-for example, increasing supports to offset rising Medicaid shortfalls resulting from program expansion-and facilitate the tracking of ACA impacts on the distribution of charity care and uncompensated care delivery. Project HOPE—The People-to-People Health Foundation, Inc.

«Neutral» Profit Taxation, Risk Taking and Optimal Profit Taxation

OpenAIRE

Jack M. MINTZ

1982-01-01

The object of this study is to answer two questions related to the design of profit taxes when taking into account riskiness of firms. The first question is the following: leaving aside general equilibrium effects of taxation on the interest rate and risk premia faced by firms, would a cash flow tax be neutral with respect to the investment decisions made by firms. The second question to be considered is whether profit tax rates should vary across industries because of different degrees of ri...

Study on profits and the financial position of regional grid operators 2006-2009

International Nuclear Information System (INIS)

2010-11-01

Grid operators have a distribution duty and a legal task to take care of a reliable energy network. To carry out the legal tasks it is important that grid operators have sufficient financial means. On the other hand, it is also important that users of energy networks do not pay too much. Chapter 1 addresses the research approach. The results of the first research question on regulated profits are discussed in chapter 2. The findings on the impact of the economic profit on the financial position are described in chapter 3. And finally, the findings on the financial position are described in chapter 4. [nl

Optimal solutions for routing problems with profits

NARCIS (Netherlands)

Archetti, C.; Bianchessi, N.; Speranza, M. G.

2013-01-01

In this paper, we present a branch-and-price algorithm to solve two well-known vehicle routing problems with profits, the Capacitated Team Orienteering Problem and the Capacitated Profitable Tour Problem. A restricted master heuristic is applied at each node of the branch-and-bound tree in order to

Pricing Resources in LTE Networks through Multiobjective Optimization

Science.gov (United States)

Lai, Yung-Liang; Jiang, Jehn-Ruey

2014-01-01

The LTE technology offers versatile mobile services that use different numbers of resources. This enables operators to provide subscribers or users with differential quality of service (QoS) to boost their satisfaction. On one hand, LTE operators need to price the resources high for maximizing their profits. On the other hand, pricing also needs to consider user satisfaction with allocated resources and prices to avoid “user churn,” which means subscribers will unsubscribe services due to dissatisfaction with allocated resources or prices. In this paper, we study the pricing resources with profits and satisfaction optimization (PRPSO) problem in the LTE networks, considering the operator profit and subscribers' satisfaction at the same time. The problem is modelled as nonlinear multiobjective optimization with two optimal objectives: (1) maximizing operator profit and (2) maximizing user satisfaction. We propose to solve the problem based on the framework of the NSGA-II. Simulations are conducted for evaluating the proposed solution. PMID:24526889

Pricing resources in LTE networks through multiobjective optimization.

Science.gov (United States)

Lai, Yung-Liang; Jiang, Jehn-Ruey

2014-01-01

The LTE technology offers versatile mobile services that use different numbers of resources. This enables operators to provide subscribers or users with differential quality of service (QoS) to boost their satisfaction. On one hand, LTE operators need to price the resources high for maximizing their profits. On the other hand, pricing also needs to consider user satisfaction with allocated resources and prices to avoid "user churn," which means subscribers will unsubscribe services due to dissatisfaction with allocated resources or prices. In this paper, we study the pricing resources with profits and satisfaction optimization (PRPSO) problem in the LTE networks, considering the operator profit and subscribers' satisfaction at the same time. The problem is modelled as nonlinear multiobjective optimization with two optimal objectives: (1) maximizing operator profit and (2) maximizing user satisfaction. We propose to solve the problem based on the framework of the NSGA-II. Simulations are conducted for evaluating the proposed solution.

Pricing Resources in LTE Networks through Multiobjective Optimization

Directory of Open Access Journals (Sweden)

Yung-Liang Lai

2014-01-01

Full Text Available The LTE technology offers versatile mobile services that use different numbers of resources. This enables operators to provide subscribers or users with differential quality of service (QoS to boost their satisfaction. On one hand, LTE operators need to price the resources high for maximizing their profits. On the other hand, pricing also needs to consider user satisfaction with allocated resources and prices to avoid “user churn,” which means subscribers will unsubscribe services due to dissatisfaction with allocated resources or prices. In this paper, we study the pricing resources with profits and satisfaction optimization (PRPSO problem in the LTE networks, considering the operator profit and subscribers' satisfaction at the same time. The problem is modelled as nonlinear multiobjective optimization with two optimal objectives: (1 maximizing operator profit and (2 maximizing user satisfaction. We propose to solve the problem based on the framework of the NSGA-II. Simulations are conducted for evaluating the proposed solution.

Integrated Optimization of Bus Line Fare and Operational Strategies Using Elastic Demand

Directory of Open Access Journals (Sweden)

Chunyan Tang

2017-01-01

Full Text Available An optimization approach for designing a transit service system is proposed. Its objective would be the maximization of total social welfare, by providing a profitable fare structure and tailoring operational strategies to passenger demand. These operational strategies include full route operation (FRO, limited stop, short turn, and a mix of the latter two strategies. The demand function is formulated to reflect the attributes of these strategies, in-vehicle crowding, and fare effects on demand variation. The fare is either a flat fare or a differential fare structure; the latter is based on trip distance and achieved service levels. This proposed methodology is applied to a case study of Dalian, China. The optimal results indicate that an optimal combination of operational strategies integrated with a differential fare structure results in the highest potential for increasing total social welfare, if the value of parameter ε related to additional service fee is low. When this value increases up to more than a threshold, strategies with a flat fare show greater benefits. If this value increases beyond yet another threshold, the use of skipped stop strategies is not recommended.

Intrinsic dynamics of successful mixing technology in chemical and bioreactors. Product and profit optimization. Eigendynamik von Chemie- und Bioreaktoren. Produkt- und Gewinnoptimierung

Energy Technology Data Exchange (ETDEWEB)

Eisenmann, A

1989-11-01

The economic success of a product is crucially dependent on the extent to which product quality and output can already be achieved in a mixing vessel. To reach that goal, efforts should focus on attaining the perfectly mixed reactor as well as its ideal operating range. The degree to which a mixing system is able to meet these requirements is of critical importance. The article also shows that considerable profit can be derived from an optimized reactor. (orig.).

Optimal operation strategies of compressed air energy storage (CAES) on electricity spot markets with fluctuating prices

DEFF Research Database (Denmark)

Lund, Henrik; Salgi, Georges; Elmegaard, Brian

2009-01-01

on electricity spot markets by storing energy when electricity prices are low and producing electricity when prices are high. In order to make a profit on such markets, CAES plant operators have to identify proper strategies to decide when to sell and when to buy electricity. This paper describes three...... plants will not be able to achieve such optimal operation, since the fluctuations of spot market prices in the coming hours and days are not known. Consequently, two simple practical strategies have been identified and compared to the results of the optimal strategy. This comparison shows that...... independent computer-based methodologies which may be used for identifying the optimal operation strategy for a given CAES plant, on a given spot market and in a given year. The optimal strategy is identified as the one which provides the best business-economic net earnings for the plant. In practice, CAES...

Does Capital Structure Influence Company Profitability?

Directory of Open Access Journals (Sweden)

Herciu Mihaela

2017-12-01

Full Text Available Every company has a different structure of balance sheet. Some of the companies have more liabilities than equity. Considering the industry or debt-to-equity ratio, the balance sheet structure affects the company profitability measured by DuPont system. The main objective of the paper is to analyze the structure of balance sheet and to identify some optimal levels in order to increase company profitability. The DuPont returns like ROA (return on assets and ROE (return on equity will be used to measure the company profitability, while the debt-to-equity ratio will be used as a measure (reflection of capital structure. The samples consist on the most profitable non-financial companies ranked in Fortune Global 500. The companies will be grouped in clusters (based on industry or debt-to-equity ratio in order to identify the signification of the correlation between the profit and the balance sheet structure. The main results of the paper refer to the company profitability that can be increased by using an optimal structure of liabilities and equity.

Derivation of optimal joint operating rules for multi-purpose multi-reservoir water-supply system

Science.gov (United States)

Tan, Qiao-feng; Wang, Xu; Wang, Hao; Wang, Chao; Lei, Xiao-hui; Xiong, Yi-song; Zhang, Wei

2017-08-01

The derivation of joint operating policy is a challenging task for a multi-purpose multi-reservoir system. This study proposed an aggregation-decomposition model to guide the joint operation of multi-purpose multi-reservoir system, including: (1) an aggregated model based on the improved hedging rule to ensure the long-term water-supply operating benefit; (2) a decomposed model to allocate the limited release to individual reservoirs for the purpose of maximizing the total profit of the facing period; and (3) a double-layer simulation-based optimization model to obtain the optimal time-varying hedging rules using the non-dominated sorting genetic algorithm II, whose objectives were to minimize maximum water deficit and maximize water supply reliability. The water-supply system of Li River in Guangxi Province, China, was selected for the case study. The results show that the operating policy proposed in this study is better than conventional operating rules and aggregated standard operating policy for both water supply and hydropower generation due to the use of hedging mechanism and effective coordination among multiple objectives.

Practical operation strategies for pumped hydroelectric energy storage (PHES) utilising electricity price arbitrage

International Nuclear Information System (INIS)

Connolly, D.; Lund, H.; Finn, P.; Mathiesen, B.V.; Leahy, M.

2011-01-01

In this paper, three practical operation strategies (24Optimal, 24Prognostic, and 24Hsitrocial) are compared to the optimum profit feasible for a PHES facility with a 360 MW pump, 300 MW turbine, and a 2 GWh storage utilising price arbitrage on 13 electricity spot markets. The results indicate that almost all (∼97%) of the profits can be obtained by a PHES facility when it is optimised using the 24Optimal strategy developed, which optimises the energy storage based on the day-ahead electricity prices. However, to maximise profits with the 24Optimal strategy, the day-ahead electricity prices must be the actual prices which the PHES facility is charged or the PHES operator must have very accurate price predictions. Otherwise, the predicted profit could be significantly reduced and even become a loss. Finally, using the 24Optimal strategy, the PHES profit can surpass the annual investment repayments required. However, over the 5-year period investigated (2005-2009) the annual profit from the PHES facility varied by more than 50% on five out of six electricity markets considered. Considering the 40-year lifetime of PHES, even with low investment costs, a low interest rate, and a suitable electricity market, PHES is a risky investment without a more predictable profit. - Highlights: → Electricity generators typically operate on a market, including energy storage. → This paper assesses how energy storage can maximise its profits on a market. → Four operating strategies are assessed on 13 markets using a case study.→ One operating strategy achieves 97% of the profits feasible.→ However, the profit varies a lot depending on the market and capital costs.

The Effects of Abandonment Options on Investment Timing and Profit Sharing of FDI

Directory of Open Access Journals (Sweden)

Weiwei Zhang

2017-01-01

Full Text Available The paper incorporates cooperative game theory into a real option method in a foreign direct investment setting and examines the operational decisions of a multinational corporation in a cooperative framework, where the corporation is endowed with an abandonment option and shares its profit with the host country. In particular, we investigate how the abandonment options affect the optimal investment timing and the optimal profit share of a foreign direct investment using a real option game method. We show that the flexibility of the abandonment option induces the corporation to investment earlier, which indicates the negative effects on investment trigger. The result is consistent with intuition since the abandonment option provides insurance and thus reduces the overall risk of the project. We also find that the introduction of the abandonment option reduces the optimal profit share in a cooperative framework and in turn the lower profit share increases the investment trigger, thereby having a positive effect on the investment threshold to hinder the investment. By numerical analysis, we find that the overall effect of the abandonment options is inversely related to the investment trigger. These findings provide quantitative analysis about the decisions regarding cooperation in international investment extraction projects.

A short-term scheduling for the optimal operation of biorefineries

International Nuclear Information System (INIS)

Grisi, E.F.; Yusta, J.M.; Khodr, H.M.

2011-01-01

This work presents an analysis of the inherent potentialities and characteristics of the sugarcane industries that produce sugar, bioethanol, biogas and bioelectricity and that are being described as ''Biorefineries''. These Biorefineries are capable of producing bio-energy under diverse forms, intended for their own internal consumption and for external sales and marketing. A complex model and simulation are carried out of the processes of a sugarcane industry, with the data characteristic as well as the production costs, prices of products and considerations on the energy demand by basic processes. A Mixed-Integer Linear Programming (MILP) optimization problem formulation and an analysis of optimal solutions in short-term operation are described, taking into account the production cost functions of each commodity and the incomes obtained from selling electricity and other products. The objective is to maximize the hourly plant economic profit in the different scenarios considered in a real case study. (author)

Optimized green operation of LTE networks in the presence of multiple electricity providers

KAUST Repository

Ghazzai, Hakim; Yaacoub, Elias E.; Alouini, Mohamed-Slim; Abu-Dayya, Adnan A.

2012-01-01

Energy efficiency aspects in cellular networks can significantly contribute to the reduction of greenhouse gas emissions and help to save the environment. The base station (BS) sleeping strategy has become a well-known technique to achieve energy savings by switching off redundant BSs mainly for lightly loaded networks. Besides, introducing renewable energies as alternative power sources becomes a real challenge to network operators. In this paper, we propose a method that reduces the energy consumption of BSs by not only shutting down underutilized BSs but also by optimizing the amounts of energy procured from different retailers (Renewable energy and electricity retailers). We formulate an optimization problem that leads to the maximization of the profit of a Long-Term Evolution (LTE) cellular operator, and at the same time to the minimization of CO2 emissions in green wireless cellular networks without affecting the desired Quality of Service. © 2012 IEEE.

Optimized green operation of LTE networks in the presence of multiple electricity providers

KAUST Repository

Ghazzai, Hakim

2012-12-01

Energy efficiency aspects in cellular networks can significantly contribute to the reduction of greenhouse gas emissions and help to save the environment. The base station (BS) sleeping strategy has become a well-known technique to achieve energy savings by switching off redundant BSs mainly for lightly loaded networks. Besides, introducing renewable energies as alternative power sources becomes a real challenge to network operators. In this paper, we propose a method that reduces the energy consumption of BSs by not only shutting down underutilized BSs but also by optimizing the amounts of energy procured from different retailers (Renewable energy and electricity retailers). We formulate an optimization problem that leads to the maximization of the profit of a Long-Term Evolution (LTE) cellular operator, and at the same time to the minimization of CO2 emissions in green wireless cellular networks without affecting the desired Quality of Service. © 2012 IEEE.

Cost related sensitivity analysis for optimal operation of a grid-parallel PEM fuel cell power plant

Science.gov (United States)

El-Sharkh, M. Y.; Tanrioven, M.; Rahman, A.; Alam, M. S.

Fuel cell power plants (FCPP) as a combined source of heat, power and hydrogen (CHP&H) can be considered as a potential option to supply both thermal and electrical loads. Hydrogen produced from the FCPP can be stored for future use of the FCPP or can be sold for profit. In such a system, tariff rates for purchasing or selling electricity, the fuel cost for the FCPP/thermal load, and hydrogen selling price are the main factors that affect the operational strategy. This paper presents a hybrid evolutionary programming and Hill-Climbing based approach to evaluate the impact of change of the above mentioned cost parameters on the optimal operational strategy of the FCPP. The optimal operational strategy of the FCPP for different tariffs is achieved through the estimation of the following: hourly generated power, the amount of thermal power recovered, power trade with the local grid, and the quantity of hydrogen that can be produced. Results show the importance of optimizing system cost parameters in order to minimize overall operating cost.

Fractal profit landscape of the stock market.

Science.gov (United States)

Grönlund, Andreas; Yi, Il Gu; Kim, Beom Jun

2012-01-01

We investigate the structure of the profit landscape obtained from the most basic, fluctuation based, trading strategy applied for the daily stock price data. The strategy is parameterized by only two variables, p and q Stocks are sold and bought if the log return is bigger than p and less than -q, respectively. Repetition of this simple strategy for a long time gives the profit defined in the underlying two-dimensional parameter space of p and q. It is revealed that the local maxima in the profit landscape are spread in the form of a fractal structure. The fractal structure implies that successful strategies are not localized to any region of the profit landscape and are neither spaced evenly throughout the profit landscape, which makes the optimization notoriously hard and hypersensitive for partial or limited information. The concrete implication of this property is demonstrated by showing that optimization of one stock for future values or other stocks renders worse profit than a strategy that ignores fluctuations, i.e., a long-term buy-and-hold strategy.

Practical operation strategies for pumped hydroelectric energy storage (PHES) utilising electricity price arbitrage

DEFF Research Database (Denmark)

Connolly, David; Lund, Henrik; Finn, P.

2011-01-01

In this paper, three practical operation strategies (24Optimal, 24Prognostic, and 24Hsitrocial) are compared to the optimum profit feasible for a PHES facility with a 360 MW pump, 300 MW turbine, and a 2 GWh storage utilising price arbitrage on 13 electricity spot markets. The results indicate...... that almost all (not, vert, similar97%) of the profits can be obtained by a PHES facility when it is optimised using the 24Optimal strategy developed, which optimises the energy storage based on the day-ahead electricity prices. However, to maximise profits with the 24Optimal strategy, the day......-ahead electricity prices must be the actual prices which the PHES facility is charged or the PHES operator must have very accurate price predictions. Otherwise, the predicted profit could be significantly reduced and even become a loss. Finally, using the 24Optimal strategy, the PHES profit can surpass the annual...

Evaluating Banking Profit Performance in Ghana during and post Profit Decline: A five Step Du-Pont Approach

Directory of Open Access Journals (Sweden)

Baah Aye Kusi

2015-11-01

Full Text Available In this study we aimed at three objectives. First, identify and rank banks based on a composite score comprising of all five du-pont variables. Second, we identify variables in the five step du-pont set up that are most likely to influence bank ROE during and post profit declining periods. And third, we estimate a model to capture the variables that drive bank ROE during and post profit declining periods. We first establish from our rankings that, foreign banks in Ghana performed better during profit declining periods while the local banks performed better in post profit decline periods using the top ten banks as a benchmark in both periods. Employing Pearson correlation coefficients matrix, we recognized that operating profit margin, asset turnover and leverage were most likely to influence bank ROE in both time periods. We further employ OLS regression and find that bank ROE was impacted by operating profit margin and leverage during profit declining periods and post profit decline while tax effect added up in post profit declining periods.

A simple technique to increase profits in wood products marketing

Science.gov (United States)

George B. Harpole

1971-01-01

Mathematical models can be used to solve quickly some simple day-to-day marketing problems. This note explains how a sawmill production manager, who has an essentially fixed-capacity mill, can solve several optimization problems by using pencil and paper, a forecast of market prices, and a simple algorithm. One such problem is to maximize profits in an operating period...

Optimal control of hydroelectric facility incorporating pump storage

International Nuclear Information System (INIS)

Zhao, Guangzhi; Davison, Matt

2009-01-01

We consider a simple model of a pump-assisted hydroelectric facility operating in a market with time-varying but deterministic power prices and constant water inflows. The engineering details of the facility are described by a model containing several parameters. We present an algorithm for optimizing first the energy and then the profit produced by these plants. This algorithm allows us to describe the relationships between control trajectory and time, and between inflow and price. Remarkably, we see that under some reasonable choices of facility parameters and for power prices that are not extremely variable, the optimal profit operation of these facilities is not too different from their optimal energy operation, and the control is less affected by the price as the inflow rate increases. (author)

Plant life extensions for German nuclear power plants? Controversial discussion profit taking of nuclear power plant operators

International Nuclear Information System (INIS)

Matthes, Felix C.

2009-10-01

The discussion on the plant life extensions for German nuclear power plants beyond the residual quantity of electricity particularly focus on three aspects: Effects for the emission of carbon dioxide as a greenhouse gas; Development of the electricity price for which a reduction or attenuation is postulated due to a plant life extension; Skimming of additional profits at operating companies and their use in the safeguarding of the future (development of renewable energies, support of energy efficiency, promotion of the research, consolidation of the public budget, and so on). Under this aspect, the author of the contribution under consideration reports on the profit taking of nuclear power plant operators. The presented analysis considers three aspects: (a) Specification of the quantity structures for the investigated model of plant life extension; (b) The decisive parameter is the revenue situation and thus the price development for electricity at wholesale markets; (c) Determination and evaluation of the course in time of the profit taking.

UES: an optimization software package for power and energy

International Nuclear Information System (INIS)

Vohryzek, J.; Havlena, V.; Findejs, J.; Jech, J.

2004-01-01

Unified Energy Solutions components are designed to meet specific requirements of the electric utilities, industrial power units, and district heating (combined heat and power) plants. The optimization objective is to operate the plant with maximum process efficiency and operational profit under the constraints imposed by technology and environmental impacts. Software applications for advanced control real-time optimization may provide a low-cost, high return alternative to expensive boiler retrofits for improving operational profit as well as reducing emissions. Unified Energy Solutions (UES) software package is a portfolio of advanced control and optimization components running on top of the standard process regulatory and control system. The objective of the UES is to operate the plant with maximum achievable profit (maximum efficiency) under the constraints imposed by technology (life-time consumption, asset health) and environmental impacts (CO and NO x emissions). Fast responsiveness to varying economic conditions and integration of real-time optimization and operator decision support (off-line) features are critical for operation in real-time economy. Optimization Features are targeted to combustion process, heat and power load allocation to parallel resources, electric power delivery and ancillary services. Optimization Criteria include increased boiler thermal efficiency, maintaining emission limits, economic load allocation of the heat and generation sources. State-of-the-art advanced control algorithms use model based predictive control principles and provide superior response in transient states. Individual software modules support open control platforms and communication protocols. UES can be implemented on a wide range of distributed control systems. Typical achievable benefits include heat and power production costs savings, increased effective boiler operation range, optimized flue gas emissions, optimized production capacity utilization, optimized

Comparison of efficiency and profitability of investor-owned multihospital systems with not-for-profit hospitals.

Science.gov (United States)

Sear, A M

1991-01-01

It is often assumed that investor-owned hospitals are more market driven than are not-for-profit hospitals, and that they will maximize output and minimize inputs, to the exclusion of other management strategies. To resolve the conflicting research evidence, this study analyzed efficiency and profitability measures for approximately 50 investor-owned and 60 not-for-profit hospitals in Florida for the period from 1982 through 1988. The results indicate that the investor-owned hospitals used significantly fewer FTE staff per bed, had significantly fewer manhours per adjusted patient day, and paid significantly less in wages and had significantly higher operating margins (profit) than did the not-for-profit institutions.

Profitability Analysis of Soybean Oil Processes.

Science.gov (United States)

Cheng, Ming-Hsun; Rosentrater, Kurt A

2017-10-07

Soybean oil production is the basic process for soybean applications. Cash flow analysis is used to estimate the profitability of a manufacturing venture. Besides capital investments, operating costs, and revenues, the interest rate is the factor to estimate the net present value (NPV), break-even points, and payback time; which are benchmarks for profitability evaluation. The positive NPV and reasonable payback time represent a profitable process, and provide an acceptable projection for real operating. Additionally, the capacity of the process is another critical factor. The extruding-expelling process and hexane extraction are the two typical approaches used in industry. When the capacities of annual oil production are larger than 12 and 173 million kg respectively, these two processes are profitable. The solvent free approach, known as enzyme assisted aqueous extraction process (EAEP), is profitable when the capacity is larger than 17 million kg of annual oil production.

Profitability Analysis of Soybean Oil Processes

Directory of Open Access Journals (Sweden)

Ming-Hsun Cheng

2017-10-01

Full Text Available Soybean oil production is the basic process for soybean applications. Cash flow analysis is used to estimate the profitability of a manufacturing venture. Besides capital investments, operating costs, and revenues, the interest rate is the factor to estimate the net present value (NPV, break-even points, and payback time; which are benchmarks for profitability evaluation. The positive NPV and reasonable payback time represent a profitable process, and provide an acceptable projection for real operating. Additionally, the capacity of the process is another critical factor. The extruding-expelling process and hexane extraction are the two typical approaches used in industry. When the capacities of annual oil production are larger than 12 and 173 million kg respectively, these two processes are profitable. The solvent free approach, known as enzyme assisted aqueous extraction process (EAEP, is profitable when the capacity is larger than 17 million kg of annual oil production.

Improving productivity and profitability of a bioanalytical business through sales and operation planning.

Science.gov (United States)

Islam, Rafiqul

2013-07-01

Today's bioanalytical CROs face increasing global competition, highly variable demand, high fixed costs, pricing pressure, and increasing demand for quality and speed. Most bioanalytical laboratories have responded to these challenges by implementing automation and by implementing process improvement methodologies (e.g., Six Sigma). These solutions have not resulted in a significant improvement in productivity and profitability since none of them are able to predict the upturn or downturn in demand. High volatility of demand causes long lead times and high costs during peak demand and poor productivity during trough demand. Most bioanalytical laboratories lack the tools to align supply efficiently to meet changing demand. In this paper, sales and operation planning (S&OP) has been investigated as a tool to balance supply and demand. The S&OP process, when executed effectively, can be the single greatest determinant of profitability for a bioanalytical business.

Combined Use of Mathematical Optimization and Design of Experiments for the Maximization of Profit in a Four-Echelon Supply Chain

Directory of Open Access Journals (Sweden)

Daniel Arturo Olivares Vera

2018-01-01

Full Text Available This paper develops a location-allocation model to optimize a four-echelon supply chain network, addressing manufacturing and distribution centers location, supplier selection and flow allocation for raw materials from suppliers to manufacturers, and finished products for end customers, while searching for system profit maximization. A fractional-factorial design of experiments is performed to analyze the effects of capacity, quality, delivery time, and interest rate on profit and system performance. The model is formulated as a mixed-integer linear programming problem and solved by using well-known commercial software. The usage of factorial experiments combined with mathematical optimization is a novel approach to address supply chain network design problems. The application of the proposed model to a case study shows that this combination of techniques yields satisfying results in terms of both its behavior and the obtained managerial insights. An ANOVA analysis is executed to quantify the effects of each factor and their interactions. In the analyzed case study, the transportation cost is the most relevant cost component, and the most relevant opportunity for profit improvement is found in the factor of quality. The proposed combination of methods can be adapted to different problems and industries.

Business analytics of specialized medical biochemistry laboratory using profit and loss acount

Directory of Open Access Journals (Sweden)

Vikica Buljanović

2011-07-01

Full Text Available Introduction. By measuring the actual effectiveness of a medical biochemistry laboratory’s business operations, we can determine the accounting measure of laboratory’s profitability, where operating expenses of the laboratory are covered by the income generated from the services. A laboratory’s financial report can be based on a profit and loss account, which shows whether or not a business entity, i.e., the laboratory, is making a profit during a particular business period. Methods. Profitability of the Specialized Medical Biochemical Laboratory (Laboratory of the General County Hospital in Našice, Croatia, was determined using the profit and loss account for 2007. Business success was expressed using the accounting measures of marginal contribution, gross income, and operating income, which could show whether or not the laboratory was operating profitably. This procedure allowed us to identify indicators of successful or unsuccessful business operations of the Laboratory. Results. According to the profit and loss account, the operating profit was 719,926 HRK, i.e., the operating margin was 11.7%, indicating that the Laboratory was operating positively. After subtracting all operating expenses per 100 income units, 11.7 units profit remained from the Laboratory’s core business. Conclusion. The Specialized Medical Biochemical Laboratory of the General County Hospital in Našice generated income, i.e., it operated at a profit. The purpose of profit and loss account was to determine the Laboratory operations that had impact on its business effectiveness and could increase the actual profitability. If the laboratory operates at a loss, and no activities are undertaken that would reverse the business toward positive, the analysis may provide information on the cost for the society as a whole of the studied laboratory within the existing healthcare system.

Taxes, bankruptcy costs, and capital structure in for-profit and not-for-profit hospitals.

Science.gov (United States)

Huang, Sean S; Yang, Jie; Carroll, Nathan

2018-02-01

About 60% of the US hospitals are not-for-profit and it is not clear how traditional theories of capital structure should be adapted to understand the borrowing behavior of not-for-profit hospitals. This paper identifies important determinants of capital structure taken from theories describing for-profit firms as well as prior literature on not-for-profit hospitals. We examine the differential effects these factors have on the capital structure of for-profit and not-for-profit hospitals. Specifically, we use a difference-in-differences regression framework to study how differences in leverage between for-profit and not-for-profit hospitals change in response to key explanatory variables (i.e. tax rates and bankruptcy costs). The sample in this study includes most US short-term general acute hospitals from 2000 to 2012. We find that personal and corporate income taxes and bankruptcy costs have significant and distinct effects on the capital structure of for-profit and not-for-profit hospitals. Specifically, relative to not-for-profit hospitals: (1) higher corporate income tax encourages for-profit hospitals to increase their debt usage; (2) higher personal income tax discourages for-profit hospitals to use debt; and (3) higher expected bankruptcy costs lead for-profit hospitals to use less debt. Over the past decade, the capital structure of for-profit hospitals has been more flexible as compared to that of not-for-profit hospitals. This may suggest that not-for-profit hospitals are more constrained by external financing resources. Particularly, our analysis suggests that not-for-profit hospitals operating in states with high corporate taxes but low personal income taxes may face particular challenges of borrowing funds relative to their for-profit competitors.

Operation and profits of energy boards. A study of the basis of municipal business activities and the equitableness of the profits of municipal energy boards

International Nuclear Information System (INIS)

Karhu, V.; Nissinen, T.; Valkama, P.

1999-01-01

The objective of the empirical part of the study (Chapter 6) is to evaluate the equitableness of profits on capital invested of the 16 municipal energy boards selected for this study and, at the same time, to create a general evaluation basis for equity decisions made by the authorities case by case. In this part of the study, answers are sought for the following questions: (1) how has the economic situation of the energy boards studied been recently developing based on various economic parameters? (2) have there been differences in the returns and profitability of energy boards operating as public utilities or energy boards operating in company form? (3) what kind of a price level the energy boards studied have maintained in relation to the national averages of this field? (4) is a city in a weaker economic position more tempted to require higher profits on capital invested than a city with a sound economic basis? (5) how high profits on capital invested can be considered reasonable for the whole energy board and particularly for a network business holding a monopoly? The structure of the study is as follows. Chapter 2 contains a brief description of the energy boards selected for this study and of the economic situation of the cities owning them. The theoretical part of the study is included in Chapter 3 'Municipal Self-Government and Business'. It analyses rather deeply the terminology of the municipal business, norm basis, steering of actions, restructuring of companies into business profit centres and privatisation, as well as application of the Act on Restrictions on Competition from the standpoint of a municipal self-government. Chapter 4 deals with the establishment of energy board activity, the legal basis and the criteria for pricing electricity, network services and district heat. Chapter 5 examines the Act on Restrictions on Competition as a regulator of the energy board activities. After this, there are the presentations of the research results of the

Management of Enterprise Profit: Theory and Methodology

Directory of Open Access Journals (Sweden)

Nadezhda Sergeevna Piontkevich

2015-12-01

Full Text Available Effective management of financial activity of commercial organization promotes achievement of the main objective of its activity – receiving profit. Both external and internal factors causing specifics of financial management of organization in the field of management of profit have impact on this process. In modern conditions of economic development this problem gains the greatest relevance, and new approaches for its decision are required. In the present article the author’s theoretical and methodological approach to profit management of organization is offered: its application is connected with revision of acting control system of enterprise profit on the basis of assessing the initial condition of profit, planning the demanded profit level, periodical monitoring condition of planned values on profit, and also adoption of flexible administrative decisions on reduction of deviations and increasing the efficiency of organization activity. The system of profit formation including corresponding income and expenses of organization is presented. Methods of revenue planning are characterized. The characteristics of income and expenses connected with non-operating operations and transactions is given. The essence of the main directions of using enterprise profit is revealed. Need of application of author’s technique of management of profit of organization taking into account influence of external and internal factors is proved. The universal purpose of management of profit of organization and a task providing achievement of the goal are formulated . Tools of assessment efficiency of the system of formation and use of profit which is actually created in organization are offered. The methodical approach to planning of profit allowing to increase efficiency of activity of organization is presented. The mechanism of an assessment deviations of planned indicators of effective management of profit from actual and adoptions of correcting decisions on

Group search optimiser-based optimal bidding strategies with no Karush-Kuhn-Tucker optimality conditions

Science.gov (United States)

Yadav, Naresh Kumar; Kumar, Mukesh; Gupta, S. K.

2017-03-01

General strategic bidding procedure has been formulated in the literature as a bi-level searching problem, in which the offer curve tends to minimise the market clearing function and to maximise the profit. Computationally, this is complex and hence, the researchers have adopted Karush-Kuhn-Tucker (KKT) optimality conditions to transform the model into a single-level maximisation problem. However, the profit maximisation problem with KKT optimality conditions poses great challenge to the classical optimisation algorithms. The problem has become more complex after the inclusion of transmission constraints. This paper simplifies the profit maximisation problem as a minimisation function, in which the transmission constraints, the operating limits and the ISO market clearing functions are considered with no KKT optimality conditions. The derived function is solved using group search optimiser (GSO), a robust population-based optimisation algorithm. Experimental investigation is carried out on IEEE 14 as well as IEEE 30 bus systems and the performance is compared against differential evolution-based strategic bidding, genetic algorithm-based strategic bidding and particle swarm optimisation-based strategic bidding methods. The simulation results demonstrate that the obtained profit maximisation through GSO-based bidding strategies is higher than the other three methods.

Corporate Social Responsibility and Profit Maximizing Behaviour

OpenAIRE

Becchetti, Leonardo; Giallonardo, Luisa; Tessitore, Maria Elisabetta

2005-01-01

We examine the behavior of a profit maximizing monopolist in a horizontal differentiation model in which consumers differ in their degree of social responsibility (SR) and consumers SR is dynamically influenced by habit persistence. The model outlines parametric conditions under which (consumer driven) corporate social responsibility is an optimal choice compatible with profit maximizing behavior.

Optimization of power system operation

CERN Document Server

Zhu, Jizhong

2015-01-01

This book applies the latest applications of new technologies topower system operation and analysis, including new and importantareas that are not covered in the previous edition. Optimization of Power System Operation covers both traditional andmodern technologies, including power flow analysis, steady-statesecurity region analysis, security constrained economic dispatch,multi-area system economic dispatch, unit commitment, optimal powerflow, smart grid operation, optimal load shed, optimalreconfiguration of distribution network, power system uncertaintyanalysis, power system sensitivity analysis, analytic hierarchicalprocess, neural network, fuzzy theory, genetic algorithm,evolutionary programming, and particle swarm optimization, amongothers. New topics such as the wheeling model, multi-areawheeling, the total transfer capability computation in multipleareas, are also addressed. The new edition of this book continues to provide engineers andac demics with a complete picture of the optimization of techn...

Do Emotional Appeal and Media-context Influence the Effectiveness of TV Commercials for Profit and Non-profit Brands?

OpenAIRE

Roozen, Irene; Claeys, Christel

2009-01-01

This study investigates the impact of emotions, both ad- and context-evoked, on the effectiveness of commercials for non-profit vs. profit brands. Effectiveness is made operational by rational measures, recall and recognition, and by emotional measures, ad likeability and brand attitude. Four different experimental groups were exposed to a sequence of warm and sad commercials for non-profit and profit brands, embedded either in a warm film fragment or a sad one. The results indicate that, ove...

Profit Sharing and Reciprocity: Theory and Survey Evidence

OpenAIRE

Cornelissen, Thomas; Heywood, John S.; Jirjahn, Uwe

2010-01-01

The 1/n problem potentially limits the effectiveness of profit sharing in motivating workers. While the economic literature suggests that reciprocity can mitigate this problem, it remains silent on the optimal degree of reciprocity. We present a representative model demonstrating that reciprocity may increase productive effort but may also increase unproductive effort such as socializing on the job. The model implies that reciprocity increases profit up to a point but decreases profit beyond ...

Scenario-based stochastic optimal operation of wind, photovoltaic, pump-storage hybrid system in frequency- based pricing

International Nuclear Information System (INIS)

Zare Oskouei, Morteza; Sadeghi Yazdankhah, Ahmad

2015-01-01

Highlights: • Two-stage objective function is proposed for optimization problem. • Hourly-based optimal contractual agreement is calculated. • Scenario-based stochastic optimization problem is solved. • Improvement of system frequency by utilizing PSH unit. - Abstract: This paper proposes the operating strategy of a micro grid connected wind farm, photovoltaic and pump-storage hybrid system. The strategy consists of two stages. In the first stage, the optimal hourly contractual agreement is determined. The second stage corresponds to maximizing its profit by adapting energy management strategy of wind and photovoltaic in coordination with optimum operating schedule of storage device under frequency based pricing for a day ahead electricity market. The pump-storage hydro plant is utilized to minimize unscheduled interchange flow and maximize the system benefit by participating in frequency control based on energy price. Because of uncertainties in power generation of renewable sources and market prices, generation scheduling is modeled by a stochastic optimization problem. Uncertainties of parameters are modeled by scenario generation and scenario reduction method. A powerful optimization algorithm is proposed using by General Algebraic Modeling System (GAMS)/CPLEX. In order to verify the efficiency of the method, the algorithm is applied to various scenarios with different wind and photovoltaic power productions in a day ahead electricity market. The numerical results demonstrate the effectiveness of the proposed approach.

Study on profits and the financial position of the Dutch power transmission system operator Tennet 2005-2009

International Nuclear Information System (INIS)

2010-12-01

A study has been conducted into the profits of the grid operator of the Dutch national high-voltage power transmission system operator TenneT in the years 2005 to 2009. Also attention is paid to the financial position of TenneT. These results are taken into account with regard to method decisions for TenneT in the fifth regulatory period. [nl

Long-Term Planning for Open Pits for Mining Sulphide-Oxide Ores in Order to Achieve Maximum Profit

Science.gov (United States)

Kržanović, Daniel; Conić, Vesna; Stevanović, Dejan; Kolonja, Božo; Vaduvesković, Jovan

2017-12-01

Profitable exploitation of mineralised material from the earth's crust is a complex and difficult task that depends on a comprehensive planning process. Answering the question of how to plan production depends on the geometry of the deposit, as well as the concentration, distribution, and type of minerals in it. The complex nature of mineral deposits largely determines the method of exploitation and profitability of mining operations. In addition to unit operating costs and metal prices, the optimal recovery of and achievement of maximum profit from deposits of sulphide-oxide ores also depend, to a significant extent, on the level of technological recovery achieved in the ore processing procedure. Therefore, in defining a long-term development strategy for open pits, special attention must be paid to the selection of an optimal procedure for ore processing in order to achieve the main objective: maximising the Net Present Value (NPV). The effect of using two different processes, flotation processing and hydrometallurgical methods (bioleaching acid leaching), on determining the ultimate pit is shown in the case of the Kraku Bugaresku-Cementacija sulphide-oxide ore deposit in eastern Serbia. Analysis shows that the application of hydrometallurgical methods of processing sulphide-oxide ore achieved an increase in NPV of 20.42%.

DETERMINANTS OF BANK PROFITABILITY: EVIDENCE FROM US

OpenAIRE

Cheng, Yinglin; Huang, Yating

2017-01-01

This paper examines the variables that affect bank profitability. We construct a sample of US banks from 2003 to 2015, and use return on assets (ROA) and return on equity (ROE) to measure bank profitability. We find that banks with higher profitability are the banks that have: (1) a higher deposits to total asset ratio, (2) a higher diversification ratio, and (3) higher operational efficiency. We also find that better-capitalized banks tend to be more profitable only when we use ROA as the me...

The relationship between bed size and profitability in South Carolina hospitals.

Science.gov (United States)

Kim, Yang K; Glover, Saundra H; Stoskopf, Carleen H; Boyd, Suzan D

2002-01-01

The purpose of the study is to identify factors affecting hospital profitability and to find the optimal hospital bed size that assures maximum profit. This is a cross-sectional study using survey data obtained from acute care hospitals in South Carolina in 1997. The relationship of hospital profitability and hospital bed size revealed that when bed size increases, hospital profitability increases, decreases, and then increases again. For the patient profit proportion, the turning points in bed size are 238.22 and 560.08. For the total profit proportion, the turning points in bed size are 223.31 and 503.86. The results on the relationship between bed size and hospital profitability indicate that medium-size hospitals have less profitability.

Optimization principle of operating parameters of heat exchanger by using CFD simulation

Directory of Open Access Journals (Sweden)

Mičieta Jozef

2016-01-01

Full Text Available Design of effective heat transfer devices and minimizing costs are desired sections in industry and they are important for both engineers and users due to the wide-scale use of heat exchangers. Traditional approach to design is based on iterative process in which is gradually changed design parameters, until a satisfactory solution is achieved. The design process of the heat exchanger is very dependent on the experience of the engineer, thereby the use of computational software is a major advantage in view of time. Determination of operating parameters of the heat exchanger and the subsequent estimation of operating costs have a major impact on the expected profitability of the device. There are on the one hand the material and production costs, which are immediately reflected in the cost of device. But on the other hand, there are somewhat hidden costs in view of economic operation of the heat exchanger. The economic balance of operation significantly affects the technical solution and accompanies the design of the heat exchanger since its inception. Therefore, there is important not underestimate the choice of operating parameters. The article describes an optimization procedure for choice of cost-effective operational parameters for a simple double pipe heat exchanger by using CFD software and the subsequent proposal to modify its design for more economical operation.

Optimal Operation and Value Evaluation of Pumped Storage Power Plants Considering Spot Market Trading and Uncertainty of Bilateral Demand

Science.gov (United States)

Takahashi, Kenta; Hara, Ryoichi; Kita, Hiroyuki; Hasegawa, Jun

In recent years, as the deregulation in electric power industry has advanced in many countries, a spot market trading of electricity has been done. Generation companies are allowed to purchase the electricity through the electric power market and supply electric power for their bilateral customers. Under this circumstance, it is important for the generation companies to procure the required electricity with cheaper cost to increase their profit. The market price is volatile since it is determined by bidding between buyer and seller. The pumped storage power plant, one of the storage facilities is promising against such volatile market price since it can produce a profit by purchasing electricity with lower-price and selling it with higher-price. This paper discusses the optimal operation of the pumped storage power plants considering bidding strategy to an uncertain spot market. The volatilities in market price and demand are represented by the Vasicek model in our estimation. This paper also discusses the allocation of operational reserve to the pumped storage power plant.

Causes of different profitability of agricultural sector

Directory of Open Access Journals (Sweden)

Vučković Branko

2016-01-01

Full Text Available This work involves identification of causes of different profitability of agricultural sector done on case study of nearly identical agricultural enterprises. It shows that financial mix even in scope of similar companies can lead to various profit indicators. Through comparative financial analysis in the same industry and activity by applying methods and techniques we have concluded that company PP Ratkovo operates more stable and closer to determined norms and also shows better results in majority of the indicators. Horizontal and vertical analysis indicates that companies in Agribusiness partner group use expensive external sources of financing. We have precisely defined in which cost segment occurs highest distinction. Also we have shown reasons why PP Ratkovo in the last two years manifests great profitability measured by ebit, ebitda and net profit as well as excellent structure of material costs and wages costs in in frame of the operating income, and reasons why enterprises in Agribusiness partner group does not.

Exergoeconomic performance optimization for a steady-flow endoreversible refrigeration model including six typical cycles

Energy Technology Data Exchange (ETDEWEB)

Chen, Lingen; Kan, Xuxian; Sun, Fengrui; Wu, Feng [College of Naval Architecture and Power, Naval University of Engineering, Wuhan 430033 (China)

2013-07-01

The operation of a universal steady flow endoreversible refrigeration cycle model consisting of a constant thermal-capacity heating branch, two constant thermal-capacity cooling branches and two adiabatic branches is viewed as a production process with exergy as its output. The finite time exergoeconomic performance optimization of the refrigeration cycle is investigated by taking profit rate optimization criterion as the objective. The relations between the profit rate and the temperature ratio of working fluid, between the COP (coefficient of performance) and the temperature ratio of working fluid, as well as the optimal relation between profit rate and the COP of the cycle are derived. The focus of this paper is to search the compromised optimization between economics (profit rate) and the utilization factor (COP) for endoreversible refrigeration cycles, by searching the optimum COP at maximum profit, which is termed as the finite-time exergoeconomic performance bound. Moreover, performance analysis and optimization of the model are carried out in order to investigate the effect of cycle process on the performance of the cycles using numerical example. The results obtained herein include the performance characteristics of endoreversible Carnot, Diesel, Otto, Atkinson, Dual and Brayton refrigeration cycles.

The Profitability – Risk Relationship and Financing Decision

Directory of Open Access Journals (Sweden)

Nicoleta BARBUTA-MISU

2007-01-01

Full Text Available The enterprise financial decision is a rational process for option to the optimal variant related to financing and investments. For the capital investment to be justified, the profitability of the invested money must be at least equal with the profitability of the alternative investment opportunities with the same risk on market. The choosing of a way for financing is determined on the one side by their cost and on the other side by the existent capital structure. In this paper I tried to analyse the profitability – risk relationship in the financing decision for the “NIKOS” Ltd.

Risk-informed profitability-based analysis support of nuclear power station balance-of-plant change management

Energy Technology Data Exchange (ETDEWEB)

Liming, J.K. [EQE International, Inc., An ABS Group Company, Irvine, CA (United States); Kee, E.J.; Grantom, C.R.; Richards, A.M. [STP Nuclear Operating Company, Wadsworth, TX (United States)

2001-07-01

In this paper, a three-phased method is proposed for the STP Nuclear Operating Company (STPNOC) Risk and Reliability Analysis Section (RRA) to perform analyses and decision-making support for the STPNOC Balance-of-Plant (BOP)Task Force in managing change to simultaneously optimize plant safety and maximize long-term return-on-asset (or profitability) for the South Texas Project Electric Generating Station (STPEGS). (authors)

Risk-informed profitability-based analysis support of nuclear power station balance-of-plant change management

International Nuclear Information System (INIS)

Liming, J.K.; Kee, E.J.; Grantom, C.R.; Richards, A.M.

2001-01-01

In this paper, a three-phased method is proposed for the STP Nuclear Operating Company (STPNOC) Risk and Reliability Analysis Section (RRA) to perform analyses and decision-making support for the STPNOC Balance-of-Plant (BOP)Task Force in managing change to simultaneously optimize plant safety and maximize long-term return-on-asset (or profitability) for the South Texas Project Electric Generating Station (STPEGS). (authors)

Profitability expertise of rural methanization projects

International Nuclear Information System (INIS)

2010-02-01

The main objectives of this study were to analyze the profitability of projects of methanization, and to identify factors which curb or favour their profitability. It is based on a detailed analysis of the investment and of the profitability of 50 sites of different sizes and at different stages of progress (from the feasibility study to few months of operation), and also of experiences in three neighbour countries (Germany, Switzerland and Belgium). First, the study highlights the importance of investment costs in the biogas production global cost, notably with respect to current German prices. Then, it comments the impact of subsidies on facility profitability. It proposes ways to improve public support to the different energetic vectors produced from biogas: electricity, biomethane, and heat

Profitability of wood harvesting enterprises

Energy Technology Data Exchange (ETDEWEB)

Penttinen, M. email: markku.penttinen@metla.fi; Mikkola, J. email: jarmo.mikkola@metla.fi; Rummukainen, A. email: arto.rummukainen@metla.fi

2009-07-01

The forest machine business is about 50 years old. The rapid technical development of machinery increased productivity up to the end of last century. In 2007, the total value of round and energy wood harvesting and silvicultural work operated by forest machine enterprises exceeded 570 mill. euro. According to the materials of the Vehicle Administration Finland and Statistics Finland there are about 1 600 active harvesting enterprises in the personal and business taxation system. Beside this, there are according to the Ministry of Agriculture and Forestry about 1 300 farmers who do harvesting as side business. About 1 000 enterprises working in June 2007 were studied with their retrospective economic analyses from 2001. The data includes all enterprises that had supplied closing of the accounts data. One-machine entrepreneurs represent more than a third of the number of enterprises, but only 13 percent of the turnover. Enterprises with seven or more machines represent less than ten percent of the number, but over twenty percent of the turnover. Enterprises are largest in eastern and northern Finland, where the average number of machines per enterprise exceeds three. Small enterprises are mostly singleowner business enterprises with a median turnover of 125 000 euros per annum. Partnerships and limited enterprises have double the median turnover of single-owner businesss. Limited companies turn over a median of 450 000 euro/y, representing 67 percent of total turnover. Median net profit varied between 6 and 10 percent of turnover in 2001-2007, but only between 2 and 4 percent where the wage adjustment is deducted from the profit. The wage adjustment is estimated as if the owners of single-owner businesses earn an operator's salary. Profit was highest in 2002 and lowest 2006. In the smallest enterprise class with a turnover of less than 75 000 euro/y, profit was lowest and negative in 2006 and 2007. The variation in profits between enterprises was also biggest in

Siemens IT solutions for power sector. PROFIT solutions

International Nuclear Information System (INIS)

Lunter, P.

2004-01-01

The cost reduction, flexibility and revenue increase, potential exploitation, productivity increase, and business opportunities exploitation - that is all what can be required in the races for the promonent positioning on the electricity power market. These requirements can be realized by the sophisticated IT solutions hand-tailored to the special requirements of the electric power producers and tradesmen. This approach makes it possible to achieve greater profit. Our solutions 'PROFIT Solutions', that are symbiosis of the most progressive information technologies and the power plant techniques of the company Siemens, satisfy submitted specifications in substantial measure. The system solutions 'PROFIT Solutions' comprise three solution groups: process, operation a business. The solutions of the group 'IT Process Solutions' increase flexibility and manoeuvrability of equipment, improve the efficiency and contribute to more economical operation of the power generation. Solutions 'IT Process Solutions' simplify and shorten the period of power cycles and conduce to higher labour productivity. Solutions group 'IT Process Solutions' approaches equipment to the market - supports the profit strategies, helps quickly and expertly to determine and predict hazards. The extension PROFIT Cockpit means the nuance to the solutions world 'PROFIT Solutions'. The survey about the whole installation is within reach at the simple touch of a button. It is possible to compile the total system part by part from single solutions 'PROFIT Solutions'. As a matter of fact all single parts can be interconnected with already existing solutions. Routines 'PROFIT Solutions' cooperate with all modern control systems. (author)

Generic phase transitions and profit singularities in Arnol'd's model

International Nuclear Information System (INIS)

Davydov, Aleksei A; Matos, Helena Mena

2007-01-01

For a smooth one-parameter family of pairs of control systems and profit densities on a circle, the generic transitions between optimal rotations and stationary strategies are studied in the problem of maximization of the time-averaged profit on the infinite horizon. It is shown that there are only two types of such transitions, the corresponding singularities of the average profit as a function of the family parameter are found, and it is proved that these singularities are stable under small perturbations of a generic family. The classification of singularities of the maximum average profit is completed for generic families. Bibliography: 16 titles.

RELATION OF DRILLING CAPACITY TO MARKET AND PROFIT

Directory of Open Access Journals (Sweden)

Mladen Zelenika

1994-12-01

Full Text Available Owner of drilling rigs should employ highly professional officers, who are capable to manage profit-orientated operations at all stages and make accurate analyses of the next three questions: how to deploy drilling crews to achieve the highest financial result; which kinds of equipment are compatible and employable in profitable operations, and how to compute the requirement of each type of equipment, and the number of drilling crews for a defined period and region to have profitable service. This paper introduce an original mathematical model convenient to compute exact values needed for an answer on these three questions. Application of this model is obvious for research of the relationship among: (i performance and cost of available drilling rigs, (ii condition on the market, and (iii estimated profit. Utilization of this model is possible only if records of market conditions' data, and data relating to progress and cost of operations in different conditions are established. These records will facilitate accurate estimation of input parameters' values and computation of output parameters' values using the Mathematical Model. Results of these computation should give basic data Tor precise plan of operation, rentabili-ty, and figures to decide the strategy of Drilling Company's capacity development.

THE EFFECT OF WORKING CAPITAL ON THE PROFITABILITY OF PALM OIL PLANTATION COMPANIES

Directory of Open Access Journals (Sweden)

Tania Prafitri

2017-05-01

Full Text Available Management decisions related to working capital are based on the management of short-term assets and liabilities, aiming to ensure that the company is able to maintain the operations and have sufficient cash flows to finance short-term debt maturities and operational costs, as well as to improve the profitability of the company. The objective of this study is to examine the effect of working capital management on company profitability. Working capital is considered to be an important issue in financial management and have an effect on liquidity as well as on the company profitability. In addition, optimized working capital management contributes greatly to the achievement of company objectives. The secondary data were taken from the annual reports of 6 oil palm plantation companies registered in the Indonesia Stock Exchange (IDX during the year 2009-2015. Profitability as a dependent variable was measured by return on investment (ROI. Cash conversion cycle (CCC, current ratio (CR, financial debt ratio (FDR, and fixed financial asset ratio (FFAR are independent variables. The analytical model used in this study was panel regression by using Fixed Effect Model. The results showed that there is a negative effect of working capital on profitability. Profitability will increase as cash cycle conversion cycle decreases. This is because companies with short cash conversion cycle are able to collect the cash needed for the company's day-to-day operations.Keywords: working capital, cash conversion cycle, current ratio, debt ratio, fixed assets ratio. profitabilityABSTRAKKeputusan manajemen yang berkaitan dengan modal kerja didasari oleh cara pengelolaan antara aset dan kewajiban jangka pendek, hal ini bertujuan untuk memastikan bahwa perusahaan mampu untuk melanjutkan kegiatan operasional dan memiliki arus kas yang cukup untuk membiayai hutang jangka pendek yang jatuh tempo dan biaya kegiatan operasional, serta untuk meningkatkan profitabilitas

Optimal operation of batch membrane processes

CERN Document Server

Paulen, Radoslav

2016-01-01

This study concentrates on a general optimization of a particular class of membrane separation processes: those involving batch diafiltration. Existing practices are explained and operational improvements based on optimal control theory are suggested. The first part of the book introduces the theory of membrane processes, optimal control and dynamic optimization. Separation problems are defined and mathematical models of batch membrane processes derived. The control theory focuses on problems of dynamic optimization from a chemical-engineering point of view. Analytical and numerical methods that can be exploited to treat problems of optimal control for membrane processes are described. The second part of the text builds on this theoretical basis to establish solutions for membrane models of increasing complexity. Each chapter starts with a derivation of optimal operation and continues with case studies exemplifying various aspects of the control problems under consideration. The authors work their way from th...

Design of optimal wind farm configuration using a binary particle swarm optimization at Huasai district, Southern Thailand

International Nuclear Information System (INIS)

Pookpunt, Sittichoke; Ongsakul, Weerakorn

2016-01-01

Highlights: • Real wind data form a wind distributed map use in wind farm optimization algorithm. • Practical cost benefit is evaluated in the objective function. • Learning curve is developed to determine a wind farm cost model. • BPSO-TVAC simultaneously optimizes wind farm spacing, position, sizing, hub height. • Optimal placement shows improvement of operating income over conventional layout. - Abstract: This paper proposes the design of optimal wind farm configuration using a new wind probability distribution map at Huasai district, the east coast of Southern Thailand. The new wind probability distribution map integrates both frequency of wind speed and direction data at a monitoring site. The linear wake effect model is used to determine the wind speed at downstream turbines for the total power extraction from a wind farm array. The component cost model and learning curve is used to express the initial investment cost, levelized cost and the annual energy production cost of a wind farm, depending on the number of wind turbines, the installed size, hub height and wake loss within a wind farm. Based on Thailand wind energy selling price consisting of the fixed wind premium on top of base tariff, the profit depends on revenue of selling electricity and cost of energy. In this paper, Binary Particle Swarm Optimization with Time-Varying Acceleration Coefficients (BPSO-TVAC) is proposed to maximize profit subject to turbine position, turbine size, hub height, annual energy production, investment budget, land lease cost, operation and maintenance cost and levelized replacement cost constraints. Test results indicate that BPSO-TVAC optimally locate wind turbines directly facing the high frequent wind speed and direction, leading to a higher profit than the conventional wind farm layout.

Determining the amount of rumen-protected methionine supplement that corresponds to the optimal levels of methionine in metabolizable protein for maximizing milk protein production and profit on dairy farms.

Science.gov (United States)

Cho, J; Overton, T R; Schwab, C G; Tauer, L W

2007-10-01

The profitability of feeding rumen-protected Met (RPMet) sources to produce milk protein was estimated using a 2-step procedure: First, the effect of Met in metabolizable protein (MP) on milk protein production was estimated by using a quadratic Box-Cox functional form. Then, using these estimation results, the amounts of RPMet supplement that corresponded to the optimal levels of Met in MP for maximizing milk protein production and profit on dairy farms were determined. The data used in this study were modified from data used to determine the optimal level of Met in MP for lactating cows in the Nutrient Requirements of Dairy Cattle (NRC, 2001). The data used in this study differ from that in the NRC (2001) data in 2 ways. First, because dairy feed generally contains 1.80 to 1.90% Met in MP, this study adjusts the reference production value (RPV) from 2.06 to 1.80 or 1.90%. Consequently, the milk protein production response is also modified to an RPV of 1.80 or 1.90% Met in MP. Second, because this study is especially interested in how much additional Met, beyond the 1.80 or 1.90% already contained in the basal diet, is required to maximize farm profits, the data used are limited to concentrations of Met in MP above 1.80 or 1.90%. This allowed us to calculate any additional cost to farmers based solely on the price of an RPMet supplement and eliminated the need to estimate the dollar value of each gram of Met already contained in the basal diet. Results indicated that the optimal level of Met in MP for maximizing milk protein production was 2.40 and 2.42%, where the RPV was 1.80 and 1.90%, respectively. These optimal levels were almost identical to the recommended level of Met in MP of 2.40% in the NRC (2001). The amounts of RPMet required to increase the percentage of Met in MP from each RPV to 2.40 and 2.42% were 21.6 and 18.5 g/d, respectively. On the other hand, the optimal levels of Met in MP for maximizing profit were 2.32 and 2.34%, respectively. The amounts

Optimal electricity price calculation model for retailers in a deregulated market

Energy Technology Data Exchange (ETDEWEB)

Yusta, J.M.; Dominguez-Navarro, J.A. [Zaragoza Univ., Dept. of Electrical Engineering, Zaragoza (Spain); Ramirez-Rosado, I.J. [La Rioja Univ., Dept. of Electrical Engineering, Logrono (Spain); Perez-Vidal, J.M. [McKinnon and Clarke, Energy Services Div., Zaragoza (Spain)

2005-07-01

The electricity retailing, a new business in deregulated electric power systems, needs the development of efficient tools to optimize its operation. This paper defines a technical-economic model of an electric energy service provider in the environment of the deregulated electricity market in Spain. This model results in an optimization problem, for calculating the optimal electric power and energy selling prices that maximize the economic profits obtained by the provider. This problem is applied to different cases, where the impact on the profits of several factors, such as the price strategy, the discount on tariffs and the elasticity of customer demand functions, is studied. (Author)

Optimal electricity price calculation model for retailers in a deregulated market

International Nuclear Information System (INIS)

Yusta, J.M.; Dominguez-Navarro, J.A.; Ramirez-Rosado, I.J.; Perez-Vidal, J.M.

2005-01-01

The electricity retailing, a new business in deregulated electric power systems, needs the development of efficient tools to optimize its operation. This paper defines a technical-economic model of an electric energy service provider in the environment of the deregulated electricity market in Spain. This model results in an optimization problem, for calculating the optimal electric power and energy selling prices that maximize the economic profits obtained by the provider. This problem is applied to different cases, where the impact on the profits of several factors, such as the price strategy, the discount on tariffs and the elasticity of customer demand functions, is studied. (Author)

Discussion on joint operation of wind farm and pumped-storage hydroplant

Science.gov (United States)

Li, Caifang; Wu, Yichun; Liang, Hao; Li, Miao

2017-12-01

Due to the random fluctuations in wind power, large amounts of grid integration will have a negative impact on grid operation and the consumers. The joint operation with pumped-storage hydroplant with good peak shaving performance can effectively reduce the negative impact on the safety and economic operation of power grid, and improve the utilization of wind power. In addition, joint operation can achieve the optimization of green power and improve the comprehensive economic benefits. Actually, the rational profit distribution of joint operation is the premise of sustainable and stable cooperation. This paper focuses on the profit distribution of joint operation, and applies improved shapely value method, which taking the investments and the contributions of each participant in the cooperation into account, to determine the profit distribution. Moreover, the distribution scheme can provide an effective reference for the actual joint operation of wind farm and pumped-storage hydroplant.

Benefits and Costs of For-Profit Public Education

Directory of Open Access Journals (Sweden)

Alex Molnar

2001-04-01

Full Text Available As a policy initiative, for-profit operation of public schools has not lived up to the claims of its proponents. An examination of issues such as teaching methods, academic achievement, autonomy, local control, and the image and influence of for-profit public schools suggests that "for-profits" are unlikely to succeed in the long term in improving the overall quality of public education. They do, however, seem capable of harming public schools.

Following an Optimal Batch Bioreactor Operations Model

DEFF Research Database (Denmark)

Ibarra-Junquera, V.; Jørgensen, Sten Bay; Virgen-Ortíz, J.J.

2012-01-01

The problem of following an optimal batch operation model for a bioreactor in the presence of uncertainties is studied. The optimal batch bioreactor operation model (OBBOM) refers to the bioreactor trajectory for nominal cultivation to be optimal. A multiple-variable dynamic optimization of fed...... as the master system which includes the optimal cultivation trajectory for the feed flow rate and the substrate concentration. The “real” bioreactor, the one with unknown dynamics and perturbations, is considered as the slave system. Finally, the controller is designed such that the real bioreactor...

Management trends: Internationalization of non-profit organizations

Directory of Open Access Journals (Sweden)

Inić Branimir P.

2015-01-01

Full Text Available Non-profit organizations are increasingly gaining importance in the modern economy with their development and their numbers increasing day by day. It is very important to note that non-profit organizations are often subject to various benefits that the for-profit companies are not. Thus, for example, preferential tax status of non-profit organizations is manifested primarily in the form of exemption from corporate income tax. In addition, private non-profit organizations enjoy various other state, local and federal taxes exemptions. Under certain conditions, these organizations are exempt from taxes on donations and membership fees. A feature that differentiates various non-profit organizations and profit-oriented companies is their source of income. Profit oriented companies depend on their income, obtained from sales of their goods or services to customers, who usually cover the price and cost of goods and services plus the profit. In contrast, nonprofit organizations are very dependent on membership fees, tax exemptions, members donations or depend on funds of the sponsoring agency which covers most of their costs, for example a federal government agency. Those non-profit organizations that have substantial operating costs beyond national borders and do not identify themselves as purely domestic in their mandate are International non-profit organizations. Most non-profit organizations remain in their national boundaries, on the territory of the country in which they were created, but a large number of non-profit organizations rapidly internationalize, and some larger non-profits have grown into important global actors. The paper includes the following sections: (1 introduction, (2 why is the 'non-profit' important, (3 the internationalization of non-profit organizations, (4 sources of income of non-profit organizations (4.1. causality of impact and of strategic decisions in cases pertaining to universities, (5 the limits of strategic

RELATIONSHIP BETWEEN WORKING CAPITAL MANAGEMENT AND PROFITABILITY IN BRAZILIAN LISTED COMPANIES

OpenAIRE

Prof. Dr. Hong Yuh Ching; Prof. MSc. Ayrton Novazzi; Prof. Dr. Fábio Gerab

2011-01-01

To overcome competition in a very complex environment, few companies have been able to use the optimization of working capital as a real competitive advantage to leverage profit. The objectives of this article are twofold: a) to investigate if there is any difference between corporate profitability and working capital management in two separate groups of companies: working capital intensive and fixed capital intensive; b) to identify the variables that most affect profitability. The profitabi...

Provision of Child Care: Cost Functions for Profit-Making and Not-for-Profit Day Care Centers

OpenAIRE

Swati Mukerjee; Ann Dryden Witte; Sheila Hollowell

1990-01-01

This paper estimates cost functions for day care centers in Massachusetts. The production technology assumed is the generalized homothetic Cobb-Douglas production function. The cost function dual to this production function is estimated separately for profit-making (P1Os) and not-for-profit (NPOs) organizations. The results are discussed in the context of current NPO literature. NPOs are found to be operating at higher average coats than PMOs for most output levels as predicted by the literat...

Charity care: do not-for-profits influence for-profits?

Science.gov (United States)

Clement, Jan P; White, Kenneth R; Valdmanis, Vivian

2002-03-01

This study further examines whether not-for-profit hospitals exert pressure on for-profit hospitals to provide charity care and whether for-profit hospitals react differently than not-for-profit hospitals to managed care pressures and hospital competition in providing charity care. A two equation model is estimated using 1996 data from California hospitals. The results indicate that in mixed ownership markets, for-profit hospitals provide significantly less charity care as not-for-profit hospitals in the market provide more. Unexpectedly, study for-profit hospitals were not more influenced by price competition than other hospitals with respect to charity care. Having a unique role in providing charity care may justify continuing tax exemption for not-for-profit hospitals and enhance interest in payment and other policies with regard to conversions to ensure that not-for-profit hospitals continue to be represented in market areas.

The role of network sharing in transforming the operator business: Impact on profitability and competition

OpenAIRE

Mölleryd, Bengt G.; Markendahl, Jan

2013-01-01

This paper focuses on network sharing on mobile networks and examines the impact on profitability and competition. Network sharing refers to that operators collaborates with its competitors on part of the production of mobile services, and it could vary from passive sharing, like sharing of sites or basic facilities, to active sharing, like radio access networks or even entire networks. The paper takes a global scope on examining the extent of network sharing. The emergence of a sector with d...

Short Run Profit Maximization in a Convex Analysis Framework

Directory of Open Access Journals (Sweden)

Ilko Vrankic

2017-03-01

Full Text Available In this article we analyse the short run profit maximization problem in a convex analysis framework. The goal is to apply the results of convex analysis due to unique structure of microeconomic phenomena on the known short run profit maximization problem where the results from convex analysis are deductively applied. In the primal optimization model the technology in the short run is represented by the short run production function and the normalized profit function, which expresses profit in the output units, is derived. In this approach the choice variable is the labour quantity. Alternatively, technology is represented by the real variable cost function, where costs are expressed in the labour units, and the normalized profit function is derived, this time expressing profit in the labour units. The choice variable in this approach is the quantity of production. The emphasis in these two perspectives of the primal approach is given to the first order necessary conditions of both models which are the consequence of enveloping the closed convex set describing technology with its tangents. The dual model includes starting from the normalized profit function and recovering the production function, and alternatively the real variable cost function. In the first perspective of the dual approach the choice variable is the real wage, and in the second it is the real product price expressed in the labour units. It is shown that the change of variables into parameters and parameters into variables leads to both optimization models which give the same system of labour demand and product supply functions and their inverses. By deductively applying the results of convex analysis the comparative statics results are derived describing the firm's behaviour in the short run.

Coordination of Nordic system operators in the electric power market - profit from improved capacity utilization and a more flexible division into price zones

International Nuclear Information System (INIS)

Bjoerndal, Mette; Joernsten, Kurt

2001-08-01

This report evaluates the possible profits of establishing a common system operator function in the Nordic electric power market. The main focus is placed on how to deal with congestion in the transmission grid. To estimate possible profits from a better utilization of the resources in the Nordic grid, the authors have analyzed socio-economic profits for several load scenarios. A simplified model of the Nordic stock area was used in the calculations. The existence of two methods of dealing with congestion in the grid may lead to reduced capacity utilization and to greater price differences than necessary. The examples show that ''indirect'' congestion control may be very expensive and that considerable cost reduction can be achieved by improved exploitation of congestion. This implies that if the Nordic area is divided into price zones, it is advantageous to regard the grid as an entity independent of national borders and system operators and to let the real transmission limitations determine the price zoning

Risk Pricing and Profit Maximization of Insurance Companies ...

African Journals Online (AJOL)

The research investigates the impact of pricing of risk on the profitability of Nigeria insurance market and also the relationship between operation expenses and profitability of the non-life insurance market in Nigeria. Results show that economy, competition and government regulation have effect on pricing of risk. Also, it was ...

Open pit mining profit maximization considering selling stage and waste rehabilitation cost

Science.gov (United States)

Muttaqin, B. I. A.; Rosyidi, C. N.

2017-11-01

In open pit mining activities, determination of the cut-off grade becomes crucial for the company since the cut-off grade affects how much profit will be earned for the mining company. In this study, we developed a cut-off grade determination mode for the open pit mining industry considering the cost of mining, waste removal (rehabilitation) cost, processing cost, fixed cost, and selling stage cost. The main goal of this study is to develop a model of cut-off grade determination to get the maximum total profit. Secondly, this study is also developed to observe the model of sensitivity based on changes in the cost components. The optimization results show that the models can help mining company managers to determine the optimal cut-off grade and also estimate how much profit that can be earned by the mining company. To illustrate the application of the models, a numerical example and a set of sensitivity analysis are presented. From the results of sensitivity analysis, we conclude that the changes in the sales price greatly affects the optimal cut-off value and the total profit.

For-profit hospital ownership status and use of brachytherapy after breast-conserving surgery.

Science.gov (United States)

Sen, Sounok; Soulos, Pamela R; Herrin, Jeph; Roberts, Kenneth B; Yu, James B; Lesnikoski, Beth-Ann; Ross, Joseph S; Krumholz, Harlan M; Gross, Cary P

2014-05-01

Little is known about the relationship between operative care for breast cancer at for-profit hospitals and subsequent use of adjuvant radiation therapy (RT). Among Medicare beneficiaries, we examined whether hospital ownership status is associated with the use of breast brachytherapy--a newer and more expensive modality--as well as overall RT. We conducted a retrospective study of female Medicare beneficiaries who received breast-conserving surgery for invasive breast cancer in 2008 and 2009. We assessed the relationship between hospital ownership and receipt of brachytherapy or overall RT by using hierarchical generalized linear models. The sample consisted of 35,118 women, 8.0% of whom had breast-conserving operations at for-profit hospitals. Among patients who received RT, those who underwent operation at for-profit hospitals were more likely to receive brachytherapy (20.2%) than patients treated at not-for-profit hospitals (15.2%; odds ratio [OR] for for-profit versus not-for-profit: 1.50; 95% confidence interval [95% CI] 1.23-1.84; P profit hospital was associated with greater overall use of RT (OR 1.22; 95% CI 1.03-1.45, P = .03) and brachytherapy use (OR 1.66; 95% CI 1.18-2.34, P = .003). Operative care at for-profit hospitals was associated with increased use of the newer and more expensive RT modality, brachytherapy. Among the oldest women who are least likely to benefit from RT, operative care at a for-profit hospital was associated with greater overall use of RT, with this difference largely driven by the use of brachytherapy. Copyright © 2014 Mosby, Inc. All rights reserved.

Improving health, safety, and profits in extended hours operations (shiftwork).

Science.gov (United States)

Kerin, Alex; Aguirre, Acacia

2005-01-01

Circadian Technologies, Inc. (CIRCADIAN) is an international consulting firm that for over 20 yr has helped employees better cope with shiftwork, while ensuring their employers reduce costs and maximize profits. This paper describes two of the methods employed to reduce accidents, absenteeism, and turnover, while improving morale and productivity in extended hour operations (shiftwork). Shiftworkers rarely receive on-the-job training to help them cope better with the rigors of working nights, evenings, and early mornings. A pre- and post-training study by CIRCADIAN demonstrated improvements in health and fatigue indices, and an increase in daytime sleep length. Companies who provide shiftwork lifestyle training also have lower rates of absenteeism and turnover compared to companies that do not provide training. The second intervention described in this paper is a novel method of shift scheduling. There are thousands of potential schedules, so how does a company choose the best schedule for their facility? The answer lies in allowing employees to be involved in the process of selection. This results in a workforce that experiences less fatigue, turnover and absenteeism, and higher morale.

The determinants of Bank Profitability: Does Liquidity Creation matter?

Directory of Open Access Journals (Sweden)

Ahmad Sahyouni

2018-02-01

Full Text Available Using a panel data set of 4995 banks across 11 developed and emerging countries during the period (2011-2015, this report analyses the amount of liquidity created by banks, how liquidity creation, bank-specific and the macroeconomic factors affecting bank profitability. The results show evidence of increased creation of liquidity over the period. By applying the panel data fixed effect technique, banks that create more liquidity, are set up to have lower profitability. As well as, Asset management, bank size and capital ratio are positively correlated with bank profitability. While, credit quality and operating efficiency affect bank’s profits negatively. Additionally, macroeconomic factors have different impact on profitability indicators in each market. Our findings may help decision makers inside and outside bank to determine important factors affecting bank profitability.

Profitability diagnosis of refinery and improvement proposal; Seiyusho no shueki shindan to kaizen teian

Energy Technology Data Exchange (ETDEWEB)

Aoyama, H.

2000-07-01

Based on consulting service RPS-J under joint operation of Nikki, UOP LLC of U.S.A. and Nikki Universal, approaching ways applied for profitability improvement and improvement proposal for refineries and analyzing techniques used for resolution of process bottlenecks were described. In RPS-J, themes of (1) energy saving, (2) quality upgrading, (3) improvement of disintegrating ratio, (4) reduction of give-away, (5) improvement of equipment operation ratio, (6) reduction of maintenance cost, (7) effective utilization of catalysts, are considered for profitability improvement fields. Procedures from idea excavation for profitability improvement to realization of profitability improvement are carried out in the order of, (1) Grasping of the present state, (2) Excavation of improving items and selection, (3) Quantitative evaluation of draft profitability improvement plan and focusing, (4) Profitability improvement by operation improvement, (5) Profitability improvement by minor improvement, (6) Profitability improvement in middle- and long-term vision, (7) Final focusing by feasibility study. Afterwards, examination to economically solve bottlenecks of critical facilities, examination on bottlenecks of distillation tower and refining tower and utility analysis are carried out. RPS-J was already applied to 4 refineries including Muroran Refinery and Negishi Refinery of Nisseki Mitsubishi, and profitability improvement themes were found to improve profitability of 50 to 150 cents per barrel. (NEDO)

The Profitability – Risk Relationship and Financing Decision

OpenAIRE

Nityesh BHATT

2007-01-01

The enterprise financial decision is a rational process for option to the optimal variant related to financing and investments. For the capital investment to be justified, the profitability of the invested money must be at least equal with the profitability of the alternative investment opportunities with the same risk on market. The choosing of a way for financing is determined on the one side by their cost and on the other side by the existent capital structure. In this paper I tried to ana...

Maximizing profitability in a hospital outpatient pharmacy.

Science.gov (United States)

Jorgenson, J A; Kilarski, J W; Malatestinic, W N; Rudy, T A

1989-07-01

This paper describes the strategies employed to increase the profitability of an existing ambulatory pharmacy operated by the hospital. Methods to generate new revenue including implementation of a home parenteral therapy program, a home enteral therapy program, a durable medical equipment service, and home care disposable sales are described. Programs to maximize existing revenue sources such as increasing the capture rate on discharge prescriptions, increasing "walk-in" prescription traffic and increasing HMO prescription volumes are discussed. A method utilized to reduce drug expenditures is also presented. By minimizing expenses and increasing the revenues for the ambulatory pharmacy operation, net profit increased from +26,000 to over +140,000 in one year.

Optimization of a gas turbine cogeneration plant

International Nuclear Information System (INIS)

Wallin, J.; Wessman, M.

1991-11-01

This work describes an analytical method of optimizing a cogeneration with a gas turbine as prime mover. The method is based on an analytical function. The function describes the total costs of the heat production, described by the heat load duration curve. The total costs consist of the prime costs and fixed costs of the gas turbine and the other heating plants. The parameters of interest at optimization are the heat efficiency produced by the gas turbine and the utilization time of the gas turbine. With todays prices for electricity, fuel and heating as well as maintenance- personnel and investment costs, extremely good conditions are needed to make the gas turbine profitable. Either a raise of the price for the electricity with about 33% is needed or that the ratio of electricity and fuel increases to approx 2.5. High investment subsidies for the gas turbines could make a gas turbine profitable, even with todays electricity- and fuel prices. Besides being a good help when projecting cogeneration plants with a gas turbine as prime mover, the method gives a possibility to optimize the annual operating time for a certain gas turbine when changing the operating conditions. 6 refs

Exploring current and projected tradeoffs between hydropower profitability and reliability of supply in the Alps

Science.gov (United States)

Anghileri, D.; Castelletti, A.; Burlando, P.

2015-12-01

The recent spreading of renewable energy across Europe and the associated production variability and uncertainty are emerging challenges for hydropower system operation. Widely distributed and highly intermittent solar and wind power generation systems, along with feed-in-tariffs, at which they are remunerated, are threating the operation of traditional hydropower systems. For instance, in countries where the transition to a larger production by means of renewable power systems is a novel process, e.g. Switzerland, many hydropower companies are operating their reservoirs with low or no profits, claiming for a revision of the entire energy market system. This situation goes along with the problem of ensuring energy supply both nowadays and in the future, with changing energy demand and available water resources. In this work, we focus on a hydropower system in the Swiss Alps to explore how different operating policies can cope with both adequate energy supply and profitable operation under current and future climate and socio-economic conditions. We investigate the operation of the Mattmark reservoir in South-West Switzerland. Mattmark is a pumped reservoir of 98 106 m3 fed by a natural catchment of 37 km2 and contributing catchments, summing up to 51 km2, connected by several diversion channels. The hydrological regime, snow- and ice-melt dominated, has already experienced changes in the last decades due to glacier retreat and is expected to be strongly impacted by climate change in the future. We use Multi-Objective optimization techniques to explore current tradeoffs between profitability and secure supply. We then investigate how tradeoffs may evolve in time under different climate change projections and energy market scenarios. Results inform on the co-evolution of climate- and socio-economic induced variations, thus unveiling potential co-benefit situations to hydropower generation and providing insights to future energy market design.

Formulation and demonstration of a robust mean variance optimization approach for concurrent airline network and aircraft design

Science.gov (United States)

Davendralingam, Navindran

Conceptual design of aircraft and the airline network (routes) on which aircraft fly on are inextricably linked to passenger driven demand. Many factors influence passenger demand for various Origin-Destination (O-D) city pairs including demographics, geographic location, seasonality, socio-economic factors and naturally, the operations of directly competing airlines. The expansion of airline operations involves the identificaion of appropriate aircraft to meet projected future demand. The decisions made in incorporating and subsequently allocating these new aircraft to serve air travel demand affects the inherent risk and profit potential as predicted through the airline revenue management systems. Competition between airlines then translates to latent passenger observations of the routes served between OD pairs and ticket pricing---this in effect reflexively drives future states of demand. This thesis addresses the integrated nature of aircraft design, airline operations and passenger demand, in order to maximize future expected profits as new aircraft are brought into service. The goal of this research is to develop an approach that utilizes aircraft design, airline network design and passenger demand as a unified framework to provide better integrated design solutions in order to maximize expexted profits of an airline. This is investigated through two approaches. The first is a static model that poses the concurrent engineering paradigm above as an investment portfolio problem. Modern financial portfolio optimization techniques are used to leverage risk of serving future projected demand using a 'yet to be introduced' aircraft against potentially generated future profits. Robust optimization methodologies are incorporated to mitigate model sensitivity and address estimation risks associated with such optimization techniques. The second extends the portfolio approach to include dynamic effects of an airline's operations. A dynamic programming approach is

Approaches to economic analysis of profitability of forestry enterprises

Directory of Open Access Journals (Sweden)

O.M. Dzyubenko

2018-03-01

Full Text Available The article substantiates the directions of adaptation of existing analytical procedures for assessing the profitability to specific activities of forestry enterprises, which is an integral part of evaluating financial potential of enterprises of the investigated branch. In particular, the author identifies the following analytical procedures that make it possible to assess the performance of forestry enterprises and determine its financial potential: the return on equity (assets on net profit, the return on equity, the return on assets, the return on sales of profits from operating activities, the profitability of sold products at net profit, reinvestment factor, the economic growth sustainability ratio, the period of payback capital, the payback period of equity capital. On the basis of these indicators, the current state of profitability of forestry enterprises was substantiated and their critical points were determined.

Anti-profit beliefs: How people neglect the societal benefits of profit.

Science.gov (United States)

Bhattacharjee, Amit; Dana, Jason; Baron, Jonathan

2017-11-01

Profit-seeking firms are stereotypically depicted as immoral and harmful to society. At the same time, profit-driven enterprise has contributed immensely to human prosperity. Though scholars agree that profit can incentivize societally beneficial behaviors, people may neglect this possibility. In 7 studies, we show that people see business profit as necessarily in conflict with social good, a view we call anti-profit beliefs . Studies 1 and 2 demonstrate that U.S. participants hold anti-profit views of real U.S. firms and industries. Study 3 shows that hypothetical organizations are seen as doing more harm when they are labeled "for-profit" rather than "non-profit," while Study 4 shows that increasing harm to society is viewed as a strategy for increasing a hypothetical firm's long-run profitability. Studies 5-7 demonstrate that carefully prompting subjects to consider the long run incentives of profit can attenuate anti-profit beliefs, while prompting short run thinking does nothing relative to a control. Together, these results suggest that the default view of profits is zero-sum. While people readily grasp how profit can incentivize firms to engage in practices that harm others, they neglect how it can incentivize firms to engage in practices that benefit others. Accordingly, people's stereotypes of profit-seeking firms are excessively negative. Even in one of the most market-oriented societies in history, people doubt the contributions of profit-seeking industry to societal progress. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

Potential profitability of pearl culture in coastal communities in Tanzania

Directory of Open Access Journals (Sweden)

Ismail Saidi

2017-02-01

Full Text Available Artisanal half-pearl culture has been shown to provide livelihood and economic opportunities for coastal communities in Tanzania that depend directly on exploitation of marine resources. However, these pilot research studies have been supported by donor organisations and the economic feasibility of such development has not yet been assessed. Furthermore, there is little understanding of the costs required to establish pearl farms and the relative impacts of farm size on production, running costs, profitability and risks involved in production. The aim of this study was to develop economic models for subsistence level half-pearl culture in Tanzania. Models were generated for various scenarios relating to farm size and products (i.e. half-pearls and juvenile oyster or ‘spat’ collection and they give detail on infrastructure costs, operational costs and income generated for various levels of operation. We concluded that the most profitable model for community-based pearl farming is to culture at least 600 oysters for half-pearl production. However, for communities to be able to run a sustainable and profitable enterprise, development of a sustainable source of oysters is crucial. Farmers can also generate income from collection of juvenile oysters and their subsequent sale to pearl farmers, but this is less profitable than half-pearl farming and requires a longer operational period before profits are made. Like pearl farming, there were major benefits or economies of scale with the largest farms tested providing greatest profit and/or a shorter time required to reach profitability. Our results provide a valuable source of information for prospective pearl farmers, donors, funding bodies and other stakeholders, and valuable extension information supporting further development of pearl culture in Tanzania.

Operator assisted optimization of sludge dewatering

DEFF Research Database (Denmark)

Grüttner, Henrik

1991-01-01

by the operator. By graphical presentation and an advisory service these data are used to support the operator in his dewatering operations and to secure a running optimization of the sludge dewatering. Evaluations show that this system is a useful tool for data collection and presentation and that the data...

Optimal day-ahead operational planning of microgrids

International Nuclear Information System (INIS)

Hosseinnezhad, Vahid; Rafiee, Mansour; Ahmadian, Mohammad; Siano, Pierluigi

2016-01-01

Highlights: • A new multi-objective model for optimal day-ahead operational planning of microgrids is proposed. • A new concept called seamlessness is introduced to control the sustainability of microgrid. • A new method is developed to manage the load and renewable energy resources estimation errors. • A new solution based on a combination of numerical and evolutionary approaches is proposed. - Abstract: Providing a cost-efficient, eco-friendly and sustainable energy is one of the main issues in modern societies. In response to this demand, new features of microgrid technology have provided huge potentials while distributing electricity more effectively, economically and securely. Accordingly, this paper presents a new multi-objective generation management model for optimal day-ahead operational planning of medium voltage microgrids. The proposed model optimizes both pollutant emission and operating cost of a microgrid by using multi-objective optimization. Besides, a seamlessness-selective algorithm is integrated into the model, which can be adopted to achieve the desired self-sufficiency level for microgrids along a specified planning horizon. Furthermore, the model is characterized by a reserve-assessment strategy developed to handle the load and renewable energy resources estimation errors. The introduced model is solved using a combination of numerical and evolutionary methods of species-based quantum particle swarm optimization to find the optimal scheduling scheme and minos-based optimal power flow to optimize the operating cost and emission. In addition, the suggested solution approach also incorporates an efficient mechanism for considering energy storage systems and coding the candidate solutions in the evolutionary algorithm. The proposed model is implemented on a test microgrid and is investigated through simulations to study the different aspects of the problem. The results show significant improvements and benefits which are obtained by

DISPAQ: Distributed Profitable-Area Query from Big Taxi Trip Data.

Science.gov (United States)

Putri, Fadhilah Kurnia; Song, Giltae; Kwon, Joonho; Rao, Praveen

2017-09-25

One of the crucial problems for taxi drivers is to efficiently locate passengers in order to increase profits. The rapid advancement and ubiquitous penetration of Internet of Things (IoT) technology into transportation industries enables us to provide taxi drivers with locations that have more potential passengers (more profitable areas) by analyzing and querying taxi trip data. In this paper, we propose a query processing system, called Distributed Profitable-Area Query ( DISPAQ ) which efficiently identifies profitable areas by exploiting the Apache Software Foundation's Spark framework and a MongoDB database. DISPAQ first maintains a profitable-area query index (PQ-index) by extracting area summaries and route summaries from raw taxi trip data. It then identifies candidate profitable areas by searching the PQ-index during query processing. Then, it exploits a Z-Skyline algorithm, which is an extension of skyline processing with a Z-order space filling curve, to quickly refine the candidate profitable areas. To improve the performance of distributed query processing, we also propose local Z-Skyline optimization, which reduces the number of dominant tests by distributing killer profitable areas to each cluster node. Through extensive evaluation with real datasets, we demonstrate that our DISPAQ system provides a scalable and efficient solution for processing profitable-area queries from huge amounts of big taxi trip data.

Optimal Bidding and Operation of a Power Plant with Solvent-Based Carbon Capture under a CO2 Allowance Market: A Solution with a Reinforcement Learning-Based Sarsa Temporal-Difference Algorithm

Directory of Open Access Journals (Sweden)

Ziang Li

2017-04-01

Full Text Available In this paper, a reinforcement learning (RL-based Sarsa temporal-difference (TD algorithm is applied to search for a unified bidding and operation strategy for a coal-fired power plant with monoethanolamine (MEA-based post-combustion carbon capture under different carbon dioxide (CO2 allowance market conditions. The objective of the decision maker for the power plant is to maximize the discounted cumulative profit during the power plant lifetime. Two constraints are considered for the objective formulation. Firstly, the tradeoff between the energy-intensive carbon capture and the electricity generation should be made under presumed fixed fuel consumption. Secondly, the CO2 allowances purchased from the CO2 allowance market should be approximately equal to the quantity of CO2 emission from power generation. Three case studies are demonstrated thereafter. In the first case, we show the convergence of the Sarsa TD algorithm and find a deterministic optimal bidding and operation strategy. In the second case, compared with the independently designed operation and bidding strategies discussed in most of the relevant literature, the Sarsa TD-based unified bidding and operation strategy with time-varying flexible market-oriented CO2 capture levels is demonstrated to help the power plant decision maker gain a higher discounted cumulative profit. In the third case, a competitor operating another power plant identical to the preceding plant is considered under the same CO2 allowance market. The competitor also has carbon capture facilities but applies a different strategy to earn profits. The discounted cumulative profits of the two power plants are then compared, thus exhibiting the competitiveness of the power plant that is using the unified bidding and operation strategy explored by the Sarsa TD algorithm.

Maximum Profit Configurations of Commercial Engines

Directory of Open Access Journals (Sweden)

Yiran Chen

2011-06-01

Full Text Available An investigation of commercial engines with finite capacity low- and high-price economic subsystems and a generalized commodity transfer law [n ∝ Δ (P m] in commodity flow processes, in which effects of the price elasticities of supply and demand are introduced, is presented in this paper. Optimal cycle configurations of commercial engines for maximum profit are obtained by applying optimal control theory. In some special cases, the eventual state—market equilibrium—is solely determined by the initial conditions and the inherent characteristics of two subsystems; while the different ways of transfer affect the model in respects of the specific forms of the paths of prices and the instantaneous commodity flow, i.e., the optimal configuration.

Subfield profitability analysis reveals an economic case for cropland diversification

Science.gov (United States)

Brandes, E.; McNunn, G. S.; Schulte, L. A.; Bonner, I. J.; Muth, D. J.; Babcock, B. A.; Sharma, B.; Heaton, E. A.

2016-01-01

Public agencies and private enterprises increasingly desire to achieve ecosystem service outcomes in agricultural systems, but are limited by perceived conflicts between economic and ecosystem service goals and a lack of tools enabling effective operational management. Here we use Iowa—an agriculturally homogeneous state representative of the Maize Belt—to demonstrate an economic rationale for cropland diversification at the subfield scale. We used a novel computational framework that integrates disparate but publicly available data to map ˜3.3 million unique potential management polygons (9.3 Mha) and reveal subfield opportunities to increase overall field profitability. We analyzed subfield profitability for maize/soybean fields during 2010-2013—four of the most profitable years in recent history—and projected results for 2015. While cropland operating at a loss of US 250 ha-1 or more was negligible between 2010 and 2013 at 18 000-190 000 ha (profitable areas, incorporating conservation management that breaks even (e.g., planting low-input perennials), into low-yielding portions of fields could increase overall cropland profitability by 80%. This approach is applicable to the broader region and differs substantially from the status quo of ‘top-down’ land management for conservation by harnessing private interest to align profitability with the production of ecosystem services.

A Financial Ratio Analysis of For-Profit and Non-Profit Rural Referral Centers

Science.gov (United States)

McCue, Michael J.; Nayar, Preethy

2009-01-01

Context: National financial data show that rural referral center (RRC) hospitals have performed well financially. RRC hospitals' median cash flow margin ratio was 10.04% in 2002 and grew to 11.04% in 2004. Purpose: The aim of this study is to compare the ratio analysis of key operational and financial performance measures of for-profit RRCs to…

Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation

Directory of Open Access Journals (Sweden)

Borja Amor-Tapia

2014-01-01

Full Text Available In this paper we examine how the relative position of a firm's Return on Equity (ROE in industries affects the predictability of the next-year ROE levels, and the ROE changes from year to year. Using Nissim and Penman breakdown into operating and financing drivers, the significant role of the industry factor is established, although changes in signs suggest subtle non-linear relations in the drivers. Our study avoids problems originating from negative signs by analyzing sorts and by making new regressions with disaggregated second-order drivers by signs. This way, our results provide evidence of some different patterns in the influence of the first-level drivers of ROE (the operating factor and the financing factor, and the second-level drivers (profit margin, asset turnover, leverage and return spread on future profitability, depending on the industry spread. The results on the role of contextual factors to improve the estimation of future profitability remain consistent for small and large firms, although adding some nuances.

Effectiveness and profitability of insecticide formulations used for ...

African Journals Online (AJOL)

To identify optimal pest control with lower economic risks to farmers, we investigated the effectiveness and profitability of different insecticides and insecticide formulations against bean fly (Ophiomyia spp.) and bean flower thrips (Megalurothrips sjostedtii). Two separate experiments were conducted during 2009 to 2012.

Designing a Profit-Maximizing Critical Peak Pricing Scheme Considering the Payback Phenomenon

Directory of Open Access Journals (Sweden)

Sung Chan Park

2015-10-01

Full Text Available Critical peak pricing (CPP is a demand response program that can be used to maximize profits for a load serving entity in a deregulated market environment. Like other such programs, however, CPP is not free from the payback phenomenon: a rise in consumption after a critical event. This payback has a negative effect on profits and thus must be appropriately considered when designing a CPP scheme. However, few studies have examined CPP scheme design considering payback. This study thus characterizes payback using three parameters (duration, amount, and pattern and examines payback effects on the optimal schedule of critical events and on the optimal peak rate for two specific payback patterns. This analysis is verified through numerical simulations. The results demonstrate the need to properly consider payback parameters when designing a profit-maximizing CPP scheme.

Operation optimization of distributed generation using artificial intelligent techniques

Directory of Open Access Journals (Sweden)

Mahmoud H. Elkazaz

2016-06-01

Full Text Available Future smart grids will require an observable, controllable and flexible network architecture for reliable and efficient energy delivery. The use of artificial intelligence and advanced communication technologies is essential in building a fully automated system. This paper introduces a new technique for online optimal operation of distributed generation (DG resources, i.e. a hybrid fuel cell (FC and photovoltaic (PV system for residential applications. The proposed technique aims to minimize the total daily operating cost of a group of residential homes by managing the operation of embedded DG units remotely from a control centre. The target is formed as an objective function that is solved using genetic algorithm (GA optimization technique. The optimal settings of the DG units obtained from the optimization process are sent to each DG unit through a fully automated system. The results show that the proposed technique succeeded in defining the optimal operating points of the DGs that affect directly the total operating cost of the entire system.

Using and comparing metaheuristic algorithms for optimizing bidding strategy viewpoint of profit maximization of generators

Science.gov (United States)

Mousavi, Seyed Hosein; Nazemi, Ali; Hafezalkotob, Ashkan

2015-03-01

With the formation of the competitive electricity markets in the world, optimization of bidding strategies has become one of the main discussions in studies related to market designing. Market design is challenged by multiple objectives that need to be satisfied. The solution of those multi-objective problems is searched often over the combined strategy space, and thus requires the simultaneous optimization of multiple parameters. The problem is formulated analytically using the Nash equilibrium concept for games composed of large numbers of players having discrete and large strategy spaces. The solution methodology is based on a characterization of Nash equilibrium in terms of minima of a function and relies on a metaheuristic optimization approach to find these minima. This paper presents some metaheuristic algorithms to simulate how generators bid in the spot electricity market viewpoint of their profit maximization according to the other generators' strategies, such as genetic algorithm (GA), simulated annealing (SA) and hybrid simulated annealing genetic algorithm (HSAGA) and compares their results. As both GA and SA are generic search methods, HSAGA is also a generic search method. The model based on the actual data is implemented in a peak hour of Tehran's wholesale spot market in 2012. The results of the simulations show that GA outperforms SA and HSAGA on computing time, number of function evaluation and computing stability, as well as the results of calculated Nash equilibriums by GA are less various and different from each other than the other algorithms.

Reservoir Operating Rule Optimization for California's Sacramento Valley

Directory of Open Access Journals (Sweden)

Timothy Nelson

2016-03-01

Full Text Available doi: http://dx.doi.org/10.15447/sfews.2016v14iss1art6Reservoir operating rules for water resource systems are typically developed by combining intuition, professional discussion, and simulation modeling. This paper describes a joint optimization–simulation approach to develop preliminary economically-based operating rules for major reservoirs in California’s Sacramento Valley, based on optimized results from CALVIN, a hydro-economic optimization model. We infer strategic operating rules from the optimization model results, including storage allocation rules to balance storage among multiple reservoirs, and reservoir release rules to determine monthly release for individual reservoirs. Results show the potential utility of considering previous year type on water availability and various system and sub-system storage conditions, in addition to normal consideration of local reservoir storage, season, and current inflows. We create a simple simulation to further refine and test the derived operating rules. Optimization model results show particular insights for balancing the allocation of water storage among Shasta, Trinity, and Oroville reservoirs over drawdown and refill seasons, as well as some insights for release rules at major reservoirs in the Sacramento Valley. We also discuss the applicability and limitations of developing reservoir operation rules from optimization model results.

Advanced quality systems : probabilistic optimization for profit (Prob.O.Prof) software

Science.gov (United States)

2009-04-01

Contractors constantly have to make decisions regarding how to maximize profit and minimize risk on paving projects. With more and more States adopting incentive/disincentive pay adjustment provisions for quality, as measured by various acceptance qu...

The Determinants of Bank Profitability: The Case of Tunisia

Directory of Open Access Journals (Sweden)

Olfa Nessibi

2016-01-01

Full Text Available Using bank level data this paper examines how bank’s specific characteristics and macroeconomic indicators affect the profitability in the Tunisian banking industry over the period 1990–2008. The results indicate that the more profitable banks are those higher amount of capital and lower operating costs. Furthermore, it appears that private banks tend to perform better than state owned ones.  Despite the great importance given to the board of directors, it doesn't have a dominant role in the Tunisian commercial banks. Finally, turning to macroeconomic conditions and its impact on banks’ profitability, we find that the real interest rate has a positive effect on bank profitability.

Profit margins in Japanese retailing

NARCIS (Netherlands)

J.C.A. Potjes; A.R. Thurik (Roy)

1993-01-01

textabstractUsing a rich data source, we explain differences and developments in profit margins of medium-sized stores in Japan. We conclude that the protected environment enables the retailer to pass on all operating costs to the customers and to obtain a relatively high basic income. High service

Optimal Operation of Radial Distribution Systems Using Extended Dynamic Programming

DEFF Research Database (Denmark)

Lopez, Juan Camilo; Vergara, Pedro P.; Lyra, Christiano

2018-01-01

An extended dynamic programming (EDP) approach is developed to optimize the ac steady-state operation of radial electrical distribution systems (EDS). Based on the optimality principle of the recursive Hamilton-Jacobi-Bellman equations, the proposed EDP approach determines the optimal operation o...... approach is illustrated using real-scale systems and comparisons with commercial programming solvers. Finally, generalizations to consider other EDS operation problems are also discussed.......An extended dynamic programming (EDP) approach is developed to optimize the ac steady-state operation of radial electrical distribution systems (EDS). Based on the optimality principle of the recursive Hamilton-Jacobi-Bellman equations, the proposed EDP approach determines the optimal operation...... of the EDS by setting the values of the controllable variables at each time period. A suitable definition for the stages of the problem makes it possible to represent the optimal ac power flow of radial EDS as a dynamic programming problem, wherein the 'curse of dimensionality' is a minor concern, since...

Increasing gas producer profitability with virtual well visibility via an end-to-end wireless Internet gas monitoring system

Energy Technology Data Exchange (ETDEWEB)

McDougall, M. [Northrock Resources Ltd., Calgary, AB (Canada); Benterud, K. [Zed.i solutions, Calgary, AB (Canada)

2003-07-01

This PowerPoint presentation describes how Northrock Resources Ltd. increased profitability using Smart-Alek{sup TM} while avoiding high implementation costs. Smart-Alek is a new type of fully integrated end-to-end electronic gas flow measurement (GFM) system based on Field Intelligence Network and End User Interference (FINE). Smart-Alek can analyze gas production through public wireless communications and a web-browser delivery system. The system has enabled Northrock to increase gas volumes with more accurate measurement and reduced downtime. In addition, operating costs have decreased because the frequency of well visits has been reduced and the administrative procedures of data collection is more efficient. The real-time well visibility of the tool has proven to be very effective in optimizing business profitability. 7 figs.

Operational radiation protection: A guide to optimization

International Nuclear Information System (INIS)

1990-01-01

The purpose of this publication is to provide practical guidance on the application of the dose limitation system contained in the Basic Safety Standards for Radiation Protection to operational situations both in large nuclear installations and in much smaller facilities. It is anticipated that this Guide will be useful to both the management and radiation protection staff of operations in which there is a potential for occupational radiation exposures and to the competent authorities with responsibilities for providing a programme of regulatory control. Contents: Dose limitation system; Optimization and its practical application to operational radiation protection; Major elements of an effective operational radiation protection programme; Review of selected parts of the basic safety standards with special reference to operational radiation protection; Optimization of radiation protection; Techniques for the systematic appraisal of operational radiation protection programmes. Refs and figs

Converting MEMS technology into profits

Science.gov (United States)

Bryzek, Janusz

1998-08-01

This paper discusses issues related to transitioning a company from the advanced technology development phase (with a particular focus on MEMS) to a profitable business, with emphasis on start-up companies. It includes several case studies from (primarily) NovaSensor MEMS development history. These case studies illustrate strategic problems with which advanced MEMS technology developers have to be concerned. Conclusions from these case studies could be used as checkpoints for future MEMS developers to increase probability of profitable operations. The objective for this paper is to share the author's experience from multiple MEMS start-ups to accelerate development of the MEMS market by focusing state- of-the-art technologists on marketing issues.

Vectors for Increasing the Effectiveness of Profit Management at Company Level

Directory of Open Access Journals (Sweden)

І. V.

2017-05-01

Full Text Available Imperfect management of processes involved in accumulation and disposal of profit at Ukrainian companies affects their performance, with the consequent losses of public budget revenues. This raises the need for new and more effective mechanisms for accumulation and disposal of corporate profit, which would be focused on maximal utilization of production, marketing and fiscal capacities of business entities and enhancement of their competitiveness at domestic and global market. The article’s objective is to conduct theoretical study of profit as an economic category and an essential component of company’s performance, sum up the principles of profit management, and analyze the profit management system at company level. A brief review of theoretical definitions of profit is made, economic origin of profit and its role in business operation in the Ukrainian context is highlighted. The components of profit management system at company level, essential principles of strategic management of company profit, organizational and economic mechanism for company profit management, a strategy for profit management at company level is discussed and summed up. The organizational and economic mechanism for profit quality management at company level is proposed.

The Effects of Firm-Specific Factors on the Profitability of Non-Life Insurance Companies in Turkey

OpenAIRE

Kaya, Emine Öner

2015-01-01

This study investigates the firm-specific factors affecting the profitability of non-life insurance companies operating in Turkey. For this purpose, data of 24 non-life insurance companies operating in Turkey from the period 2006–2013 were brought together to obtain 192 observed panel data sets. In this study, profitability is measured by two different variables: technical profitability ratio and sales profitability ratio. According to the empirical results, the firm-specific factors affecti...

The Improvement of Particle Swarm Optimization: a Case Study of Optimal Operation in Goupitan Reservoir

Science.gov (United States)

Li, Haichen; Qin, Tao; Wang, Weiping; Lei, Xiaohui; Wu, Wenhui

2018-02-01

Due to the weakness in holding diversity and reaching global optimum, the standard particle swarm optimization has not performed well in reservoir optimal operation. To solve this problem, this paper introduces downhill simplex method to work together with the standard particle swarm optimization. The application of this approach in Goupitan reservoir optimal operation proves that the improved method had better accuracy and higher reliability with small investment.

Profitability of timber harvesting and timber transportation enterprises

International Nuclear Information System (INIS)

Rajamaeki, J.

1996-01-01

In co-operation with the major companies contracting out forestry work and Statistics Finland, Metsaeteho carried out a project with the objective of analysing the economic profitability of timber harvesting and transportation enterprises in 1994. The calculation of profitability was based on utilisation of last livelihoods taxation data (EVR) that Statistics Finland was in possession of. The basic material comprised data that the companies contracting out forestry work had full-time entrepreneurs. There were 255 forestry machine contractor enterprises and 270 trucking enterprises. Statistics Finland was responsible for computations of the results of the project. The calculation of the indicators of profitability was based on the recommendations of Yritystutkimusneuvottelukunta, a committee looking into the functioning of enterprises. The year 1994 was a good year from the viewpoint of profitability of both forestry machine contractors as well as trucking enterprises. With full depreciations and salary adjustments attended to, both enterprise groups still showed a mean profitability of ca. 8 %. The yield of invested capital was ca. 25 %. The differences in profitability among enterprises were great in both groups and in different parts of the country

DISPAQ: Distributed Profitable-Area Query from Big Taxi Trip Data †

Science.gov (United States)

Putri, Fadhilah Kurnia; Song, Giltae; Rao, Praveen

2017-01-01

One of the crucial problems for taxi drivers is to efficiently locate passengers in order to increase profits. The rapid advancement and ubiquitous penetration of Internet of Things (IoT) technology into transportation industries enables us to provide taxi drivers with locations that have more potential passengers (more profitable areas) by analyzing and querying taxi trip data. In this paper, we propose a query processing system, called Distributed Profitable-Area Query (DISPAQ) which efficiently identifies profitable areas by exploiting the Apache Software Foundation’s Spark framework and a MongoDB database. DISPAQ first maintains a profitable-area query index (PQ-index) by extracting area summaries and route summaries from raw taxi trip data. It then identifies candidate profitable areas by searching the PQ-index during query processing. Then, it exploits a Z-Skyline algorithm, which is an extension of skyline processing with a Z-order space filling curve, to quickly refine the candidate profitable areas. To improve the performance of distributed query processing, we also propose local Z-Skyline optimization, which reduces the number of dominant tests by distributing killer profitable areas to each cluster node. Through extensive evaluation with real datasets, we demonstrate that our DISPAQ system provides a scalable and efficient solution for processing profitable-area queries from huge amounts of big taxi trip data. PMID:28946679

Risk-weighted optimization for cyclic steam stimulation of water-underlain reservoirs

International Nuclear Information System (INIS)

Mehra, R.K.; Ding, L.Y.; Donnelly, J.K.

1991-01-01

The paper describes the procedure that was adopted to develop operating guidelines for the cyclic steam stimulation process in a water underlain oil sands reservoir. The study consisted of three parts: i) The risks associated with fracturing into water sands were quantified by conducting a stochastic simulation; ii) Numerical simulations were conducted to obtain correlations among the cumulative production volumes and six selected operating variables; iii) These correlations were subsequently embodied in the economic model to maximize the profits under different constraints. The study concluded that rather than a unique value, a wide range of operating conditions maximized the project profitability. It recommended that a cautious approach in exploitation of these resources was warranted since the penalty for selecting non-optimal conditions was not high

Multi-objective optimization of an underwater compressed air energy storage system using genetic algorithm

International Nuclear Information System (INIS)

Cheung, Brian C.; Carriveau, Rupp; Ting, David S.K.

2014-01-01

This paper presents the findings from a multi-objective genetic algorithm optimization study on the design parameters of an underwater compressed air energy storage system (UWCAES). A 4 MWh UWCAES system was numerically simulated and its energy, exergy, and exergoeconomics were analysed. Optimal system configurations were determined that maximized the UWCAES system round-trip efficiency and operating profit, and minimized the cost rate of exergy destruction and capital expenditures. The optimal solutions obtained from the multi-objective optimization model formed a Pareto-optimal front, and a single preferred solution was selected using the pseudo-weight vector multi-criteria decision making approach. A sensitivity analysis was performed on interest rates to gauge its impact on preferred system designs. Results showed similar preferred system designs for all interest rates in the studied range. The round-trip efficiency and operating profit of the preferred system designs were approximately 68.5% and $53.5/cycle, respectively. The cost rate of the system increased with interest rates. - Highlights: • UWCAES system configurations were developed using multi-objective optimization. • System was optimized for energy efficiency, exergy, and exergoeconomics • Pareto-optimal solution surfaces were developed at different interest rates. • Similar preferred system configurations were found at all interest rates studied

The Optimal Operation Criteria for a Gas Turbine Cogeneration System

Directory of Open Access Journals (Sweden)

Atsushi Akisawa

2009-04-01

Full Text Available The study demonstrated the optimal operation criteria of a gas turbine cogeneration system based on the analytical solution of a linear programming model. The optimal operation criteria gave the combination of equipment to supply electricity and steam with the minimum energy cost using the energy prices and the performance of equipment. By the comparison with a detailed optimization result of an existing cogeneration plant, it was shown that the optimal operation criteria successfully provided a direction for the system operation under the condition where the electric power output of the gas turbine was less than the capacity

Optimization of Multipurpose Reservoir Operation with Application Particle Swarm Optimization Algorithm

Directory of Open Access Journals (Sweden)

Elahe Fallah Mehdipour

2012-12-01

Full Text Available Optimal operation of multipurpose reservoirs is one of the complex and sometimes nonlinear problems in the field of multi-objective optimization. Evolutionary algorithms are optimization tools that search decision space using simulation of natural biological evolution and present a set of points as the optimum solutions of problem. In this research, application of multi-objective particle swarm optimization (MOPSO in optimal operation of Bazoft reservoir with different objectives, including generating hydropower energy, supplying downstream demands (drinking, industry and agriculture, recreation and flood control have been considered. In this regard, solution sets of the MOPSO algorithm in bi-combination of objectives and compromise programming (CP using different weighting and power coefficients have been first compared that the MOPSO algorithm in all combinations of objectives is more capable than the CP to find solution with appropriate distribution and these solutions have dominated the CP solutions. Then, ending points of solution set from the MOPSO algorithm and nonlinear programming (NLP results have been compared. Results showed that the MOPSO algorithm with 0.3 percent difference from the NLP results has more capability to present optimum solutions in the ending points of solution set.

Strategic bidding in electricity markets using particle swarm optimization

International Nuclear Information System (INIS)

Yucekaya, Ahmet D.; Valenzuela, Jorge; Dozier, Gerry

2009-01-01

Profit maximization for power companies is highly related to the bidding strategies used. In order to sell electricity at high prices and maximize profit, power companies need suitable bidding models that consider power operating constraints and price uncertainty within the market. In this paper, we present two particle swarm optimization (PSO) algorithms to determine bid prices and quantities under the rules of a competitive power market. The first method uses a conventional PSO technique to find solutions. The second method uses a decomposition technique in conjunction with the PSO approach. This new decomposition-based PSO dramatically outperforms the conventional form of PSO. We show that for nonlinear cost functions PSO solutions provide higher expected profits than marginal cost-based bidding. (author)

Optimization of Combine Heat and Power Plants in the Russian Wholesale Power Market Conditions

Directory of Open Access Journals (Sweden)

I. A. Chuchueva

2015-01-01

Full Text Available The paper concerns the relevant problem to optimize the combine heat and power (CHP plants in the Russian wholesale power market conditions. Since 1975 the CHP plants specialists faced the problem of fuel rate or fuel cost reduction while ensuring the fixed level of heat and power production. The optimality criterion was the fuel rate or fuel cost which has to be minimized. Produced heat and power was paid by known tariff. Since the power market started in 2006 the power payment scheme has essentially changed: produced power is paid by market price. In such condition a new optimality criterion the paper offers is a profit which has to be maximized for the given time horizon. Depending on the optimization horizon the paper suggests four types of the problem urgency, namely: long-term, mid-term, short-term, and operative optimization. It clearly shows that the previous problem of fuel cost minimization is a special case of profit maximization problem. To bring the problem to the mixed-integer linear programming problem a new linear characteristic curves of steam and gas turbine are introduced. Error of linearization is 0.6%. The formal statement of the problem of short-term CHP plants optimization in the market conditions is offered. The problem was solved with IRM software (OpenLinkInternational for seven power plants of JSC “Quadra”: Dyagilevskaya CHP, Kurskaya CHP-1, Lipetskaya CHP-2, Orlovskaya CHP, Kurskaya CHP NWR, Tambovskaya CHP, and Smolenskaya CHP-2.The conducted computational experiment showed that a potential profit is between 1.7% and 4.7% of the fuel cost of different CHP plants and depends on the power plant operation conditions. The potential profit value is 2–3 times higher than analogous estimations, which were obtained solving fuel cost minimization problem. The perspectives of the work are formalization of mid-term and long-term CHP plants optimization problem and development of domestic software for the new problem

THE IMPACT OF EFFECTIVE STOCK MANAGEMENT ON THE PROFITABILITY OF THE HOSPITALITY OPERATIONS (A CASE OF CHELSEA HOTEL ABUJA)

OpenAIRE

Olawale - Olakunle Olajumoke Elizabeth

2017-01-01

This paper examines effective slack management and its impact on the profitability of the hospitality operations. A sound and dynamic stock management strategy is indispensable in contemporary time where aggressive competition for survival is the common business trend coupled with rapid increase in technological acceleration. Secondary sources of data collection were employed to get relevant information. The result reveals that effective stock management is inevitably the bedrock upon which e...

Design for life-cycle profit with simultaneous consideration of initial manufacturing and end-of-life remanufacturing

Science.gov (United States)

Kwak, Minjung; Kim, Harrison

2015-01-01

Remanufacturing is emerging as a promising solution for achieving green, profitable businesses. This article considers a manufacturer that produces new products and also remanufactured versions of the new products that become available at the end of their life cycle. For such a manufacturer, design decisions at the initial design stage determine both the current profit from manufacturing and future profit from remanufacturing. To maximize the total profit, design decisions must carefully consider both ends of product life cycle, i.e. manufacturing and end-of-life stages. This article proposes a decision-support model for the life-cycle design using mixed-integer nonlinear programming. With an aim to maximize the total life-cycle profit, the proposed model searches for an (at least locally) optimal product design (i.e. design specifications and the selling price) for the new and remanufactured products. It optimizes both the initial design and design upgrades at the end-of-life stage and also provides corresponding production strategies, including production quantities and take-back rate. The model is extended to a multi-objective model that maximizes both economic profit and environmental-impact saving. To illustrate, the developed model is demonstrated with an example of a desktop computer.

Introduction of the Profit Surface

OpenAIRE

Bell, Peter N

2010-01-01

The profit surface is a visualization technique for data computed from trading rules. I simulate price paths and operate the trading rules to compute cumulative returns for the rule under different specifications. The specifications are pairs of integers, filter lag lengths, so a contour plot is useful to display cumulative returns for more specifications than can be shown otherwise.

Application of an expert system to optimize reservoir performance

International Nuclear Information System (INIS)

Gharbi, Ridha

2005-01-01

The main challenge of oil displacement by an injected fluid, such as in Enhanced Oil Recovery (EOR) processes, is to reduce the cost and improve reservoir performance. An optimization methodology, combined with an economic model, is implemented into an expert system to optimize the net present value of full field development with an EOR process. The approach is automated and combines an economic package and existing numerical reservoir simulators to optimize the design of a selected EOR process using sensitivity analysis. The EOR expert system includes three stages of consultations: (1) select an appropriate EOR process on the basis of the reservoir characteristics, (2) prepare appropriate input data sets to design the selected EOR process using existing numerical simulators, and (3) apply the discounted-cash-flow methods to the optimization of the selected EOR process to find out under what conditions at current oil prices this EOR process might be profitable. The project profitability measures were used as the decision-making variables in an iterative approach to optimize the design of the EOR process. The economic analysis is based on the estimated recovery, residual oil in-place, oil price, and operating costs. Two case studies are presented for two reservoirs that have already been produced to their economic limits and are potential candidates for surfactant/polymer flooding, and carbon-dioxide flooding, respectively, or otherwise subject to abandonment. The effect of several design parameters on the project profitability of these EOR processes was investigated

UMTS network planning, optimization, and inter-operation with GSM

CERN Document Server

Rahnema, Moe

2008-01-01

UMTS Network Planning, Optimization, and Inter-Operation with GSM is an accessible, one-stop reference to help engineers effectively reduce the time and costs involved in UMTS deployment and optimization. Rahnema includes detailed coverage from both a theoretical and practical perspective on the planning and optimization aspects of UMTS, and a number of other new techniques to help operators get the most out of their networks. Provides an end-to-end perspective, from network design to optimizationIncorporates the hands-on experiences of numerous researchersSingle

Avoidance of international double taxation. Taxation of business profits in Romania

OpenAIRE

Florin Dumiter; Ștefania Jimon

2017-01-01

In this article we wanted to achieve a comprehensive analysis of corporate profit tax for non-residents, from the standpoint of the issues that it creates on the double taxation of income and capital. Taxing the corporate profits of non-residents is a particularly important aspect in terms of revenue growth, encouraging foreign investment, and strengthening cross-border trade. The “source” state will decide the legitimate right to tax the profits of businesses that operate within its juris...

Integrated approach to optimize operation and maintenance costs for operating nuclear power plants

International Nuclear Information System (INIS)

2006-06-01

In the context of increasingly open electricity markets and the 'unbundling' of generating companies from former utility monopolies, an area of major concern is the economic performance of the existing fleet of nuclear power plants. Nuclear power, inevitably, must compete directly with other electricity generation sources. Coping with this competitive pressure is a challenge that the nuclear industry should meet if the nuclear option is to remain a viable one. This competitive environment has significant implications for nuclear plant operations, including, among others, the need for the more cost effective management of plant activities, and the greater use of analytical tools to balance the costs and benefits of proposed activities, in order to optimize operation and maintenance costs, and thus insure the economic competitiveness of existing nuclear power plants. In the framework of the activities on Nuclear Economic Performance Information System (NEPIS), the IAEA embarked in developing guidance on optimization of operation and maintenance costs for nuclear power plants. The report was prepared building on the fundamental that optimization of operation and maintenance costs of a nuclear power plant is a key component of a broader integrated business strategic planning process, having as overall result achievement of organization's business objectives. It provides advice on optimization of O and M costs in the framework of strategic business planning, with additional details on operational planning and controlling. This TECDOC was elaborated in 2004-2005 in the framework of the IAEA's programme on Nuclear Power Plant Operating Performance and Life Cycle Management, with the support of two consultants meetings and one technical meeting and based on contributions provided by participants. It can serve as a useful reference for the management and operation staff within utilities, nuclear power plant operators and regulators and other organizations involved in

Operations Optimization of Hybrid Energy Systems under Variable Markets

Energy Technology Data Exchange (ETDEWEB)

Chen, Jun; Garcia, Humberto E.

2016-07-01

Hybrid energy systems (HES) have been proposed to be an important element to enable increasing penetration of clean energy. This paper investigates the operations flexibility of HES, and develops a methodology for operations optimization to maximize its economic value based on predicted renewable generation and market information. The proposed operations optimizer allows systematic control of energy conversion for maximal economic value, and is illustrated by numerical results.

Cooling Tower Optimization A Simple Way to Generate Green Megawatts and to Increase the Efficiency of a Power Plant

Energy Technology Data Exchange (ETDEWEB)

Strohmer, F.

2014-07-01

The profitability of nuclear power plants is worldwide challenged by low electricity prices. One hand low cost shale gas is offering a low price electricity production , other hand additional taxes on fuel are reducing the operating income of nuclear power stations. The optimization of cooling towers can help to increase the efficiency and profit of a nuclear power plant. (Author)

Coordinating decentralized optimization of truck and shovel mining operations

Energy Technology Data Exchange (ETDEWEB)

Cheng, R.; Fraser Forbes, J. [Alberta Univ., Edmonton, AB (Canada). Dept. of Chemical and Materials Engineering; San Yip, W. [Suncor Energy, Fort McMurray, AB (Canada)

2006-07-01

Canada's oil sands contain the largest known reserve of oil in the world. Oil sands mining uses 3 functional processes, ore hauling, overburden removal and mechanical maintenance. The industry relies mainly on truck-and-shovel technology in its open-pit mining operations which contributes greatly to the overall mining operation cost. Coordination between operating units is crucial for achieving an enterprise-wide optimal operation level. Some of the challenges facing the industry include multiple or conflicting objectives such as minimizing the use of raw materials and energy while maximizing production. The large sets of constraints that define the feasible domain pose as challenge, as does the uncertainty in system parameters. One solution lies in assigning truck resources to various activities. This fully decentralized approach would treat the optimization of ore production, waste removal and equipment maintenance independently. It was emphasized that mine-wide optimal operation can only be achieved by coordinating ore hauling and overburden removal processes. For that reason, this presentation proposed a coordination approach for a decentralized optimization system. The approach is based on the Dantzig-Wolfe decomposition and auction-based methods that have been previously used to decompose large-scale optimization problems. The treatment of discrete variables and coordinator design was described and the method was illustrated with a simple truck and shovel mining simulation study. The approach can be applied to a wide range of applications such as coordinating decentralized optimal control systems and scheduling. 16 refs., 3 tabs., 2 figs.

Not-for-profits trek into for-profit accounting: goodwill impairments.

Science.gov (United States)

2011-03-01

Acquisitions may be integral and strategic drivers for successfully executing the business objectives of an entity or fulfilling its mission. The new guidance creates accounting and valuation challenges for not-for-profit entities that for-profit entities have been dealing with for years. Now that not-for-profit entities apply the same principles, the fair value concepts and accounting complexities are more pervasive. By brining to bear the rights complement of accounting, finance, and valuation resources, not-for-profit entities can successfully navigate these challenges and gain an understanding of the full magnitude of acquisition decisions on financial results.

An application to measure impact of working capital management on profitability in firms in manufacture sector quoted on ISE

OpenAIRE

Akbulut, Ramazan

2011-01-01

The purpose of this study is to investigate the relationship between working capital management and firm profitability of corporations in manufacture sector which are listed in İstanbul Stock Exchange for the period of 2000-2008. Working capital management is important part in firm financial management decision. The ability of the firm to continuously operate in longer period depends on how they deal with investment in working capital management. The optimal of working capital management coul...

Rule Optimization monthly reservoir operation Salvajina

International Nuclear Information System (INIS)

Sandoval Garcia, Maria Clemencia; Santacruz Salazar, Santiago; Ramirez Callejas, Carlos A

2007-01-01

In the present study a model was designed for the optimization of the rule for monthly operation of the Salvajina dam (Colombia) based in the technology) of dynamic programming. The model maximizes the benefits for electric power generation, ensuring at the same time flood regulation in winter and pollution relief during the summer. For the optimization of the rule of operation, it was necessary to define the levels and volumes of reserve and holding required for the control of flood zones in the Cauca river and to provide an effluent minimal flow and assure a daily flow at the Juanchito station (located 141 km downstream from the dam) of the Cauca river, 90 % of the time during the most critical summer periods.

UTILITATEA ANALIZEI RELAŢIEI COST-VOLUM-PROFIT ÎN METODA DIRECT-COSTING PENTRU PROCESUL DECIZIONAL

Directory of Open Access Journals (Sweden)

Nelea CHIRILOV

2016-12-01

Full Text Available În acest articol este analizată relaţia cost-volum-profit în scopul optimizării profitului şi fundamentării unor decizii economice optime. Sunt prezentate studii de caz metodologice menite să evidenţieze necesitatea indicatorilor: pragul de rentabilitate, marja de contribuţie, rezerva stabilităţii financiare, volumul vânzărilor necesar obţinerii profitului dorit, preţul marginal. Rezultatele obţinute sunt prezentate şi analizate de autori. Articolul se încheie cu concluziile autorilor privind avantajele oferite de calculele şi analizele ce pot fi efectuate pe baza relaţiei cost-volum-profit în metoda direct-costing pentru procesul decizional.THE UTILITY OF ANALYZING COST-VOLUME-PROFIT RELATIONSHIP THROUGH THE DIRECT-COSTING METHOD FOR DECISION MAKING PROCESSIn this article it is analyzed the cost-volume-profit relationship with the aim of profit optimization and elaboration of optimum economic decisions. The statement also reflects methodological case studies which highlight the necessity of the following indicators: break-even point, contribution margin, reserve of financial stability, sales volume required for obtaining target profit, marginal price. The results are presented and are analyzed by authors. The article ends up with the conclusions of the authors with regards to advantages provided by the calculations and analysis which can be performed on the basis of cost-volume-profit relationship through the direct-costing method for decision making process.

SIMULTANEOUS SCHEDULING AND OPERATIONAL OPTIMIZATION OF MULTIPRODUCT, CYCLIC CONTINUOUS PLANTS

Directory of Open Access Journals (Sweden)

A. Alle

2002-03-01

Full Text Available The problems of scheduling and optimization of operational conditions in multistage, multiproduct continuous plants with intermediate storage are simultaneously addressed. An MINLP model, called TSPFLOW, which is based on the TSP formulation for product sequencing, is proposed to schedule the operation of such plants. TSPFLOW yields a one-order-of-magnitude CPU time reduction as well as the solution of instances larger than those formerly reported (Pinto and Grossmann, 1994. Secondly, processing rates and yields are introduced as additional optimization variables in order to state the simultaneous problem of scheduling with operational optimization. Results show that trade-offs are very complex and that the development of a straightforward (rule of thumb method to optimally schedule the operation is less effective than the proposed approach.

SIMULTANEOUS SCHEDULING AND OPERATIONAL OPTIMIZATION OF MULTIPRODUCT, CYCLIC CONTINUOUS PLANTS

Directory of Open Access Journals (Sweden)

Alle A.

2002-01-01

Full Text Available The problems of scheduling and optimization of operational conditions in multistage, multiproduct continuous plants with intermediate storage are simultaneously addressed. An MINLP model, called TSPFLOW, which is based on the TSP formulation for product sequencing, is proposed to schedule the operation of such plants. TSPFLOW yields a one-order-of-magnitude CPU time reduction as well as the solution of instances larger than those formerly reported (Pinto and Grossmann, 1994. Secondly, processing rates and yields are introduced as additional optimization variables in order to state the simultaneous problem of scheduling with operational optimization. Results show that trade-offs are very complex and that the development of a straightforward (rule of thumb method to optimally schedule the operation is less effective than the proposed approach.

What drives firm profitability? A multilevel approach to the Spanish agri-food sector

International Nuclear Information System (INIS)

Zouaghi, F.; Sánchez-García, M.; Hirsch, S.

2017-01-01

Strategic management research has demonstrated the importance of firm- and industry structure as drivers of firm profitability. However, less is known about how firms´ geographical locations affect profitability. Applying a multi-level approach of hierarchical linear modeling we estimated firm-, industry-, and region-specific effects on profitability of 3,273 agri-food firms operating in different Spanish districts over the time span 2006-2013. The results reveal the dominance of firm-specific effects which contribute up to 48.8% to variance in firm profitability while the contribution of industry effects (0.8-4.2%), geographical location (0.1-1.8%), and year effects (0.1-2.5%) is rather small. Moreover, firm size, risk, and innovative activity turn out as significant profit drivers at the firm level. Although firm-effects outweigh industry- and region-specific factors, the results indicate that industry concentration as well as regional education and unemployment influence profitability. In addition, proximity to technological institutes as well as the degree of urbanization of the region in which a firm operates can be drivers of profitability. Hence, despite the superiority of firm effects the results indicate that agri-food managers should also consider possible advantages from location-based resources in order to ensure competitiveness.

What drives firm profitability? A multilevel approach to the Spanish agri-food sector

Energy Technology Data Exchange (ETDEWEB)

Zouaghi, F.; Sánchez-García, M.; Hirsch, S.

2017-07-01

Strategic management research has demonstrated the importance of firm- and industry structure as drivers of firm profitability. However, less is known about how firms´ geographical locations affect profitability. Applying a multi-level approach of hierarchical linear modeling we estimated firm-, industry-, and region-specific effects on profitability of 3,273 agri-food firms operating in different Spanish districts over the time span 2006-2013. The results reveal the dominance of firm-specific effects which contribute up to 48.8% to variance in firm profitability while the contribution of industry effects (0.8-4.2%), geographical location (0.1-1.8%), and year effects (0.1-2.5%) is rather small. Moreover, firm size, risk, and innovative activity turn out as significant profit drivers at the firm level. Although firm-effects outweigh industry- and region-specific factors, the results indicate that industry concentration as well as regional education and unemployment influence profitability. In addition, proximity to technological institutes as well as the degree of urbanization of the region in which a firm operates can be drivers of profitability. Hence, despite the superiority of firm effects the results indicate that agri-food managers should also consider possible advantages from location-based resources in order to ensure competitiveness.

Example of feedstock optimization

International Nuclear Information System (INIS)

Boustros, E.

1991-01-01

An example of feedstock optimization at an olefins plant which has the flexibility to process different kinds of raw materials while maintaining the same product slate, is presented. Product demand and prices, and the number of units in service as well as the required resources to operate these units are considered to be fixed. The plant profitability is a function of feedstock choice, plus constant costs which are the non-volume related costs. The objective is to find a set or combination of feedstocks that could match the client product demands and fall within the unit's design and capacity, while maximizing the financial operating results

Optimal Energy Management of Multi-Microgrids with Sequentially Coordinated Operations

Directory of Open Access Journals (Sweden)

Nah-Oak Song

2015-08-01

Full Text Available We propose an optimal electric energy management of a cooperative multi-microgrid community with sequentially coordinated operations. The sequentially coordinated operations are suggested to distribute computational burden and yet to make the optimal 24 energy management of multi-microgrids possible. The sequential operations are mathematically modeled to find the optimal operation conditions and illustrated with physical interpretation of how to achieve optimal energy management in the cooperative multi-microgrid community. This global electric energy optimization of the cooperative community is realized by the ancillary internal trading between the microgrids in the cooperative community which reduces the extra cost from unnecessary external trading by adjusting the electric energy production amounts of combined heat and power (CHP generators and amounts of both internal and external electric energy trading of the cooperative community. A simulation study is also conducted to validate the proposed mathematical energy management models.

Economic feasibility of reequipment terms based on profitability criterion

OpenAIRE

D.V. Bezugla

2015-01-01

The aim of the article. The aim of the research is to improve the methodological approaches to a priori determining the initial indices of profitability of technological equipment to solve the dynamic optimization task over time of industry technical re-equipment. The results of the analysis. One of the effective mechanisms to ground the industry technical re-equipment and to substitute threadbare machinery is the dynamic optimization method, but it is necessary to improve methodological a...

Dynamic optimization of the complex adaptive controlling by the structure of enterprise’s product range

Directory of Open Access Journals (Sweden)

Andrey Fyodorovich Shorikov

2013-06-01

Full Text Available This paper reviews a methodical approach to solve multi-step dynamic problem of optimal integrated adaptive management of a product portfolio structure of the enterprise. For the organization of optimal adaptive terminal control of the system the recurrent algorithm, which reduces an initial multistage problem to the realization of the final sequence of problems of optimal program terminal control is offered. In turn, the decision of each problem of optimal program terminal control is reduced to the realization of the final sequence only single-step operations in the form of the problems solving of linear and convex mathematical programming. Thus, the offered approach allows to develop management solutions at current information support, which consider feedback, and which create the optimal structure of an enterprise’s product lines, contributing to optimising of profits, as well as maintenance of the desired level of profit for a long period of time

Optimized dispatch in a first-principles concentrating solar power production model

Energy Technology Data Exchange (ETDEWEB)

Wagner, Michael J.; Newman, Alexandra M.; Hamilton, William T.; Braun, Robert J.

2017-10-01

Concentrating solar power towers, which include a steam-Rankine cycle with molten salt thermal energy storage, is an emerging technology whose maximum effectiveness relies on an optimal operational and dispatch policy. Given parameters such as start-up and shut-down penalties, expected electricity price profiles, solar availability, and system interoperability requirements, this paper seeks a profit-maximizing solution that determines start-up and shut-down times for the power cycle and solar receiver, and the times at which to dispatch stored and instantaneous quantities of energy over a 48-h horizon at hourly fidelity. The mixed-integer linear program (MIP) is subject to constraints including: (i) minimum and maximum rates of start-up and shut-down, (ii) energy balance, including energetic state of the system as a whole and its components, (iii) logical rules governing the operational modes of the power cycle and solar receiver, and (iv) operational consistency between time periods. The novelty in this work lies in the successful integration of a dispatch optimization model into a detailed techno-economic analysis tool, specifically, the National Renewable Energy Laboratory's System Advisor Model (SAM). The MIP produces an optimized operating strategy, historically determined via a heuristic. Using several market electricity pricing profiles, we present comparative results for a system with and without dispatch optimization, indicating that dispatch optimization can improve plant profitability by 5-20% and thereby alter the economics of concentrating solar power technology. While we examine a molten salt power tower system, this analysis is equally applicable to the more mature concentrating solar parabolic trough system with thermal energy storage.

Optimizing Reservoir Operation to Adapt to the Climate Change

Science.gov (United States)

Madadgar, S.; Jung, I.; Moradkhani, H.

2010-12-01

Climate change and upcoming variation in flood timing necessitates the adaptation of current rule curves developed for operation of water reservoirs as to reduce the potential damage from either flood or draught events. This study attempts to optimize the current rule curves of Cougar Dam on McKenzie River in Oregon addressing some possible climate conditions in 21th century. The objective is to minimize the failure of operation to meet either designated demands or flood limit at a downstream checkpoint. A simulation/optimization model including the standard operation policy and a global optimization method, tunes the current rule curve upon 8 GCMs and 2 greenhouse gases emission scenarios. The Precipitation Runoff Modeling System (PRMS) is used as the hydrology model to project the streamflow for the period of 2000-2100 using downscaled precipitation and temperature forcing from 8 GCMs and two emission scenarios. An ensemble of rule curves, each associated with an individual scenario, is obtained by optimizing the reservoir operation. The simulation of reservoir operation, for all the scenarios and the expected value of the ensemble, is conducted and performance assessment using statistical indices including reliability, resilience, vulnerability and sustainability is made.

Application of total quality tools in the operational process modernization and optimization of large hydroelectric power plants; Aplicacao de ferramentas da qualidade total na modernizacao e otimizacao de processos operacionais de grandes usinas hidreletricas

Energy Technology Data Exchange (ETDEWEB)

Potenza, Luiz Frederico; Kassem, Faisal Ali; Medlo, Gerson Ricardo; Santos, Valdemir Chalito dos [Companhia Paranaense de Energia (COPEL), Capitao Leonidas Marques, PR (Brazil). Superintendencia de Gerencia da Manutencao. Area de Operacao e Manutencao Salto Caxias]. E-mail: potenza@mail.copel.br

1998-07-01

This work highlights a practical example of Total Quality tools application, and as the institutional changes advances, the necessity of being better and more competitive becomes evident. By using Total Quality Control tools in the modernization and optimization of operational processes for large hydroelectric power plants of the COPEL-Brazil this work contributes for the continuous increasing of the customers satisfaction and the profitability of the company.

The Service-profit Chain

DEFF Research Database (Denmark)

Grønholdt, Lars; Martensen, Anne

2016-01-01

This paper examines the links between employee attitudes, customer loyalty and company profitability. From a conceptual point of view, this employee-customer-profit chain, also known as the service-profit chain, is well founded and generally accepted. But for many companies, it seems difficult...... to demonstrate such links, and several issues must be addressed to uncover the links. To investigate these links empirically, a hotel chain provided data matching employee and customer measures with measures of profitability. We have successfully employed a modeling approach, and the paper reports empirical...... evidence of the employee-customer-profit chain. As it is possible to estimate the links, we have demonstrated their effect on company profitability. The research findings provide a better understanding of the service-profit chain and may help practitioners in improving company financial performance....

Optimal Economic Operation of Islanded Microgrid by Using a Modified PSO Algorithm

Directory of Open Access Journals (Sweden)

Yiwei Ma

2015-01-01

Full Text Available An optimal economic operation method is presented to attain a joint-optimization of cost reduction and operation strategy for islanded microgrid, which includes renewable energy source, the diesel generator, and battery storage system. The optimization objective is to minimize the overall generating cost involving depreciation cost, operation cost, emission cost, and economic subsidy available for renewable energy source, while satisfying various equality and inequality constraints. A novel dynamic optimization process is proposed based on two different operation control modes where diesel generator or battery storage acts as the master unit to maintain the system frequency and voltage stability, and a modified particle swarm optimization algorithm is applied to get faster solution to the practical economic operation problem of islanded microgrid. With the example system of an actual islanded microgrid in Dongao Island, China, the proposed models, dynamic optimization strategy, and solution algorithm are verified and the influences of different operation strategies and optimization algorithms on the economic operation are discussed. The results achieved demonstrate the effectiveness and feasibility of the proposed method.

Design and development of bio-inspired framework for reservoir operation optimization

Science.gov (United States)

Asvini, M. Sakthi; Amudha, T.

2017-12-01

Frameworks for optimal reservoir operation play an important role in the management of water resources and delivery of economic benefits. Effective utilization and conservation of water from reservoirs helps to manage water deficit periods. The main challenge in reservoir optimization is to design operating rules that can be used to inform real-time decisions on reservoir release. We develop a bio-inspired framework for the optimization of reservoir release to satisfy the diverse needs of various stakeholders. In this work, single-objective optimization and multiobjective optimization problems are formulated using an algorithm known as "strawberry optimization" and tested with actual reservoir data. Results indicate that well planned reservoir operations lead to efficient deployment of the reservoir water with the help of optimal release patterns.

Earnings and bank profitability in Nigeria

Directory of Open Access Journals (Sweden)

John N. N. Ugoani

2016-12-01

Full Text Available Bank earnings in form of retained profit help in the capital formation of banks. This is critical because capital inadequacy is often a cause of bank failures. During the banking crisis in Nigeria the gross earnings of many banks diminished considerably due to frauds and bad management. For example, in 2009 the Central Bank of Nigeria revoked the operating licences of fourteen banks which had huge nonperforming loans and were making losses. The fragility in the Nigerian banking system in the 1990s and beyond was compounded due to wide spread poor corporate governance practices and imprudent lending that led to the erosion of gross earnings and profitability. The study employed the exploratory research design. Data analyses were done through description statistics and the regression technique using the statistical package for the social sciences. The regression result was Y = 4.926 + 1.877x meaning that with an increase of 1 percent in gross earnings bank profitability increases by 1.88 percent. This is the crux of the study.

Optimal mode of operation for biomass production

NARCIS (Netherlands)

Betlem, Ben H.L.; Roffel, Brian; Mulder, P.

2002-01-01

The rate of biomass production is optimised for a predefined feed exhaustion using the residue ratio as a degree of freedom. Three modes of operation are considered: continuous, repeated batch, and repeated fed-batch operation. By means of the Production Curve, the transition points of the optimal

Factors of U.S. Hospitals Associated with Improved Profit Margins: An Observational Study.

Science.gov (United States)

Ly, Dan P; Cutler, David M

2018-02-14

Hospitals face financial pressure from decreased margins from Medicare and Medicaid and lower reimbursement from consolidating insurers. The objectives of this study are to determine whether hospitals that became more profitable increased revenues or decreased costs more and to examine characteristics associated with improved financial performance over time. The design of this study is retrospective analyses of U.S. non-federal acute care hospitals between 2003 and 2013. There are 2824 hospitals as subjects of this study. The main measures of this study are the change in clinical operating margin, change in revenues per bed, and change in expenses per bed between 2003 and 2013. Hospitals that became more profitable had a larger magnitude of increases in revenue per bed (about $113,000 per year [95% confidence interval: $93,132 to $133,401]) than of decreases in costs per bed (about - $10,000 per year [95% confidence interval: - $28,956 to $9617]), largely driven by higher non-Medicare reimbursement. Hospitals that improved their margins were larger or joined a hospital system. Not-for-profit status was associated with increases in operating margin, while rural status and having a larger share of Medicare patients were associated with decreases in operating margin. There was no association between improved hospital profitability and changes in diagnosis related group weight, in number of profitable services, or in payer mix. Hospitals that became more profitable were more likely to increase their admissions per bed per year. Differential price increases have led to improved margins for some hospitals over time. Where significant price increases are not possible, hospitals will have to become more efficient to maintain profitability.

STARTING DETERMINANTS OF STRATEGIC APPROACH TO MARKETING OF NON-PROFIT ORGANIZATIONS: THEORETICAL ELABORATION

OpenAIRE

Pavičić, Jurica

2001-01-01

Non-profit organizations have remarkably important role in contemporary societies since they participate in solutions of numerous problems which enable or prevent functioning of society in an optimal way. In this, systematic application of marketing influences more efficient activity of non-profit organizations in practice, and by this indirectly contributes to better solution of social problems. If qualitative or systematic application of marketing is observed from the aspect of forming and ...

Profitability of Residential Battery Energy Storage Combined with Solar Photovoltaics

Directory of Open Access Journals (Sweden)

Christoph Goebel

2017-07-01

Full Text Available Lithium-ion (Li-Ion batteries are increasingly being considered as bulk energy storage in grid applications. One such application is residential energy storage combined with solar photovoltaic (PV panels to enable higher self-consumption rates, which has become financially more attractive recently due to decreasing feed-in subsidies. Although residential energy storage solutions are commercially mature, it remains unclear which system configurations and circumstances, including aggregator-based applications such as the provision of ancillary services, lead to profitable consumer investments. Therefore, we conduct an extensive simulation study that is able to jointly capture these aspects. Our results show that, at current battery module prices, even optimal system configurations still do not lead to profitable investments into Li-Ion batteries if they are merely used as a buffer for solar energy. The first settings in which they will become profitable, as prices are further declining, will be larger households at locations with higher average levels of solar irradiance. If the batteries can be remote-controlled by an aggregator to provide overnight negative reserve, their profitability increases significantly.

Optimal processor for malfunction detection in operating nuclear reactor

International Nuclear Information System (INIS)

Ciftcioglu, O.

1990-01-01

An optimal processor for diagnosing operational transients in a nuclear reactor is described. Basic design of the processor involves real-time processing of noise signal obtained from a particular in core sensor and the optimality is based on minimum alarm failure in contrast to minimum false alarm criterion from the safe and reliable plant operation viewpoint

DataProfit

DEFF Research Database (Denmark)

2016-01-01

DataProfit er et værktøj til at kortlægge og analysere din virksomheds evne til datadreven forretningsudvikling.......DataProfit er et værktøj til at kortlægge og analysere din virksomheds evne til datadreven forretningsudvikling....

Cooperative Game Study of Airlines Based on Flight Frequency Optimization

Directory of Open Access Journals (Sweden)

Wanming Liu

2014-01-01

Full Text Available By applying the game theory, the relationship between airline ticket price and optimal flight frequency is analyzed. The paper establishes the payoff matrix of the flight frequency in noncooperation scenario and flight frequency optimization model in cooperation scenario. The airline alliance profit distribution is converted into profit distribution game based on the cooperation game theory. The profit distribution game is proved to be convex, and there exists an optimal distribution strategy. The results show that joining the airline alliance can increase airline whole profit, the change of negotiated prices and cost is beneficial to profit distribution of large airlines, and the distribution result is in accordance with aviation development.

Operation of Power Grids with High Penetration of Wind Power

Science.gov (United States)

Al-Awami, Ali Taleb

The integration of wind power into the power grid poses many challenges due to its highly uncertain nature. This dissertation involves two main components related to the operation of power grids with high penetration of wind energy: wind-thermal stochastic dispatch and wind-thermal coordinated bidding in short-term electricity markets. In the first part, a stochastic dispatch (SD) algorithm is proposed that takes into account the stochastic nature of the wind power output. The uncertainty associated with wind power output given the forecast is characterized using conditional probability density functions (CPDF). Several functions are examined to characterize wind uncertainty including Beta, Weibull, Extreme Value, Generalized Extreme Value, and Mixed Gaussian distributions. The unique characteristics of the Mixed Gaussian distribution are then utilized to facilitate the speed of convergence of the SD algorithm. A case study is carried out to evaluate the effectiveness of the proposed algorithm. Then, the SD algorithm is extended to simultaneously optimize the system operating costs and emissions. A modified multi-objective particle swarm optimization algorithm is suggested to identify the Pareto-optimal solutions defined by the two conflicting objectives. A sensitivity analysis is carried out to study the effect of changing load level and imbalance cost factors on the Pareto front. In the second part of this dissertation, coordinated trading of wind and thermal energy is proposed to mitigate risks due to those uncertainties. The problem of wind-thermal coordinated trading is formulated as a mixed-integer stochastic linear program. The objective is to obtain the optimal tradeoff bidding strategy that maximizes the total expected profits while controlling trading risks. For risk control, a weighted term of the conditional value at risk (CVaR) is included in the objective function. The CVaR aims to maximize the expected profits of the least profitable scenarios, thus

Optimal Design and Operation of Permanent Irrigation Systems

Science.gov (United States)

Oron, Gideon; Walker, Wynn R.

1981-01-01

Solid-set pressurized irrigation system design and operation are studied with optimization techniques to determine the minimum cost distribution system. The principle of the analysis is to divide the irrigation system into subunits in such a manner that the trade-offs among energy, piping, and equipment costs are selected at the minimum cost point. The optimization procedure involves a nonlinear, mixed integer approach capable of achieving a variety of optimal solutions leading to significant conclusions with regard to the design and operation of the system. Factors investigated include field geometry, the effect of the pressure head, consumptive use rates, a smaller flow rate in the pipe system, and outlet (sprinkler or emitter) discharge.

Deterministic operations research models and methods in linear optimization

CERN Document Server

Rader, David J

2013-01-01

Uniquely blends mathematical theory and algorithm design for understanding and modeling real-world problems Optimization modeling and algorithms are key components to problem-solving across various fields of research, from operations research and mathematics to computer science and engineering. Addressing the importance of the algorithm design process. Deterministic Operations Research focuses on the design of solution methods for both continuous and discrete linear optimization problems. The result is a clear-cut resource for understanding three cornerstones of deterministic operations resear

Evaluating Bank Profitability in Ghana: A five step Du-Pont Model Approach

Directory of Open Access Journals (Sweden)

Baah Aye Kusi

2015-09-01

Full Text Available We investigate bank profitability in Ghana using periods before, during and after the globe financial crises with the five step du-pont model for the first time.We adapt the variable of the five step du-pont model to explain bank profitability with a panel data of twenty-five banks in Ghana from 2006 to 2012. To ensure meaningful generalization robust errors fixed and random effects models are used.Our empirical results suggests that bank operating activities (operating profit margin, bank efficiency (asset turnover, bank leverage (asset to equity and financing cost (interest burden  were positive and significant determinants of bank profitability (ROE during the period of study implying that bank in Ghana can boost return to equity holders through the above mentioned variables. We further report that the five step du-pont model better explains the total variation (94% in bank profitability in Ghana as compared to earlier findings suggesting that bank specific variables are keen in explaining ROE in banks in Ghana.We cited no empirical study that has employed five step du-pont model making our study unique and different from earlier studies as we assert that bank specific variables are core to explaining bank profitability.                

Optimizing Biorefinery Design and Operations via Linear Programming Models

Energy Technology Data Exchange (ETDEWEB)

Talmadge, Michael; Batan, Liaw; Lamers, Patrick; Hartley, Damon; Biddy, Mary; Tao, Ling; Tan, Eric

2017-03-28

The ability to assess and optimize economics of biomass resource utilization for the production of fuels, chemicals and power is essential for the ultimate success of a bioenergy industry. The team of authors, consisting of members from the National Renewable Energy Laboratory (NREL) and the Idaho National Laboratory (INL), has developed simple biorefinery linear programming (LP) models to enable the optimization of theoretical or existing biorefineries. The goal of this analysis is to demonstrate how such models can benefit the developing biorefining industry. It focuses on a theoretical multi-pathway, thermochemical biorefinery configuration and demonstrates how the biorefinery can use LP models for operations planning and optimization in comparable ways to the petroleum refining industry. Using LP modeling tools developed under U.S. Department of Energy's Bioenergy Technologies Office (DOE-BETO) funded efforts, the authors investigate optimization challenges for the theoretical biorefineries such as (1) optimal feedstock slate based on available biomass and prices, (2) breakeven price analysis for available feedstocks, (3) impact analysis for changes in feedstock costs and product prices, (4) optimal biorefinery operations during unit shutdowns / turnarounds, and (5) incentives for increased processing capacity. These biorefinery examples are comparable to crude oil purchasing and operational optimization studies that petroleum refiners perform routinely using LPs and other optimization models. It is important to note that the analyses presented in this article are strictly theoretical and they are not based on current energy market prices. The pricing structure assigned for this demonstrative analysis is consistent with $4 per gallon gasoline, which clearly assumes an economic environment that would favor the construction and operation of biorefineries. The analysis approach and examples provide valuable insights into the usefulness of analysis tools for

Examples of radiation protection optimization in design and operation

International Nuclear Information System (INIS)

Gonzalez, A.J.; Palacios, E.; Curti, A.; Agatiello, O.; Majchrzak, J.

1982-01-01

The practical use of the requirement of optimization of radiological protection is presented. Application examples for designing ventilation systems and for maintenance operations of nuclear plants are given. A method is developed for the application of the optimization requirement to the design of ventilation systems in contaminated environments. Representative values of the main parameters are presented and their relevant features are discussed. A practical example shows actual results for a radioisotope production plant. Causes influencing collective doses incurred by the workers during maintenance operations are analyzed. A method is presented for the optimization of both the level of training of personnel and the apportionment of individual doses. As an example, this methodology is applied to the maintenance operations in a nuclear power plant. (author)

A study on relationship between working capital and profitability

Directory of Open Access Journals (Sweden)

Hassan Ghodrati

2014-08-01

Full Text Available This paper studies the relationship between working capital management and profitability of accepted corporations in Tehran Stock Exchange over the period 2008-2012. The study selected 66 firms as a statistical sample based on Cochran formula and simple random selection. In this study, variables including the average period of collecting accordance, periods of circulation of inventories, the average period of debt payment, and cycle of cash conversion on the factories operating profits are studied. The research method is applied and collection of data is solidarity, the Pierson and Regression solidarity are used. Results show that variables of capital investment management and profitability were in opposite direction. If the period of collecting accordance, period of debt payment, period of circulation of inventories and the cycle of cash conversion increase, it decreases the period profitability and the manager can decrease the period of debt payment, period of cash conversion to the least amount of positive value for affiliate.

Plant life extensions for German nuclear power plants? Controversial discussion profit taking of nuclear power plant operators; Laufzeitverlaengerungen fuer die deutschen Kernkaftwerke? Kurzanalyse zu den Gewinnmitnahmen der KKW-Betreiber

Energy Technology Data Exchange (ETDEWEB)

Matthes, Felix C.

2009-10-15

The discussion on the plant life extensions for German nuclear power plants beyond the residual quantity of electricity particularly focus on three aspects: Effects for the emission of carbon dioxide as a greenhouse gas; Development of the electricity price for which a reduction or attenuation is postulated due to a plant life extension; Skimming of additional profits at operating companies and their use in the safeguarding of the future (development of renewable energies, support of energy efficiency, promotion of the research, consolidation of the public budget, and so on). Under this aspect, the author of the contribution under consideration reports on the profit taking of nuclear power plant operators. The presented analysis considers three aspects: (a) Specification of the quantity structures for the investigated model of plant life extension; (b) The decisive parameter is the revenue situation and thus the price development for electricity at wholesale markets; (c) Determination and evaluation of the course in time of the profit taking.

Optimal scope of supply chain network & operations design

NARCIS (Netherlands)

Ma, N.

2014-01-01

The increasingly complex supply chain networks and operations call for the development of decision support systems and optimization techniques that take a holistic view of supply chain issues and provide support for integrated decision-making. The economic impacts of optimized supply chain are

Optimal control of operation efficiency of belt conveyor systems

International Nuclear Information System (INIS)

Zhang, Shirong; Xia, Xiaohua

2010-01-01

The improvement of the energy efficiency of belt conveyor systems can be achieved at equipment or operation levels. Switching control and variable speed control are proposed in literature to improve energy efficiency of belt conveyors. The current implementations mostly focus on lower level control loops or an individual belt conveyor without operational considerations at the system level. In this paper, an optimal switching control and a variable speed drive (VSD) based optimal control are proposed to improve the energy efficiency of belt conveyor systems at the operational level, where time-of-use (TOU) tariff, ramp rate of belt speed and other system constraints are considered. A coal conveying system in a coal-fired power plant is taken as a case study, where great saving of energy cost is achieved by the two optimal control strategies. Moreover, considerable energy saving resulting from VSD based optimal control is also proved by the case study.

Optimal control of operation efficiency of belt conveyor systems

Energy Technology Data Exchange (ETDEWEB)

Zhang, Shirong [Department of Automation, Wuhan University, Wuhan 430072 (China); Xia, Xiaohua [Department of Electrical, Electronic and Computer Engineering, University of Pretoria, Pretoria 0002 (South Africa)

2010-06-15

The improvement of the energy efficiency of belt conveyor systems can be achieved at equipment or operation levels. Switching control and variable speed control are proposed in literature to improve energy efficiency of belt conveyors. The current implementations mostly focus on lower level control loops or an individual belt conveyor without operational considerations at the system level. In this paper, an optimal switching control and a variable speed drive (VSD) based optimal control are proposed to improve the energy efficiency of belt conveyor systems at the operational level, where time-of-use (TOU) tariff, ramp rate of belt speed and other system constraints are considered. A coal conveying system in a coal-fired power plant is taken as a case study, where great saving of energy cost is achieved by the two optimal control strategies. Moreover, considerable energy saving resulting from VSD based optimal control is also proved by the case study. (author)

Impact of product configuration systems on product profitability and costing accuracy

DEFF Research Database (Denmark)

Myrodia, Anna; Kristjansdottir, Katrin; Hvam, Lars

2017-01-01

in control of their product assortment, making the right decisions in the sales phase and increasing sales of optimal products. These benefits should have an impact on the company's ability to make more accurate cost estimations in the sales phase, which can positively affect the products’ profitability......This article aims at analyzing the impact of implementing a product configuration system (PCS) on the increased accuracy of the cost calculations and the increased profitability of the products. Companies that have implemented PCSs have achieved substantial benefits in terms of being more...... and after a PCS was implemented. The comparison in the case study revealed that increased accuracy of the cost calculations in the sales phase and consequently increased profitability can be achieved by implementing a PCS....

Domestic and Foreign Banks’ Profitability: Differences and Their Determinants

Directory of Open Access Journals (Sweden)

Muhammad AZAM

2012-01-01

Full Text Available The purpose of this study to analyze and compare the profitability of domestic (Public & Private and foreign banks operating in the Pakistan Banking market between 2004 and 2010 on quarterly basis. Total 36 Commercial Banks of Pakistani Industry have represented our sample. To control for the effect of bank ownership on performance, we split the sample into three categories: (1 domestic banks with Government Control, (2 domestic banks with Private control, and (3 foreign banks. This study also finds that foreign banks are more profitable than all domestic banks regardless of their ownership structure by applying regression analysis. This may suggest that it is better for a multinational bank to establish a subsidiary/branch rather than acquiring an “existing player” in the host country. We also found that domestic and foreign banks have different profitability determinants, i.e. factors that are important in shaping domestic banks’ profitability are not necessary important for the foreign banks and vice versa. Empirical results show that foreign banks are less affected by the macroeconomic factors of the host country than domestic banks and they have a higher profitability margin in Pakistan.

Parametric Optimization of Some Critical Operating System Functions--An Alternative Approach to the Study of Operating Systems Design

Science.gov (United States)

Sobh, Tarek M.; Tibrewal, Abhilasha

2006-01-01

Operating systems theory primarily concentrates on the optimal use of computing resources. This paper presents an alternative approach to teaching and studying operating systems design and concepts by way of parametrically optimizing critical operating system functions. Detailed examples of two critical operating systems functions using the…

Fuzzy multiobjective models for optimal operation of a hydropower system

Science.gov (United States)

Teegavarapu, Ramesh S. V.; Ferreira, André R.; Simonovic, Slobodan P.

2013-06-01

Optimal operation models for a hydropower system using new fuzzy multiobjective mathematical programming models are developed and evaluated in this study. The models use (i) mixed integer nonlinear programming (MINLP) with binary variables and (ii) integrate a new turbine unit commitment formulation along with water quality constraints used for evaluation of reservoir downstream impairment. Reardon method used in solution of genetic algorithm optimization problems forms the basis for development of a new fuzzy multiobjective hydropower system optimization model with creation of Reardon type fuzzy membership functions. The models are applied to a real-life hydropower reservoir system in Brazil. Genetic Algorithms (GAs) are used to (i) solve the optimization formulations to avoid computational intractability and combinatorial problems associated with binary variables in unit commitment, (ii) efficiently address Reardon method formulations, and (iii) deal with local optimal solutions obtained from the use of traditional gradient-based solvers. Decision maker's preferences are incorporated within fuzzy mathematical programming formulations to obtain compromise operating rules for a multiobjective reservoir operation problem dominated by conflicting goals of energy production, water quality and conservation releases. Results provide insight into compromise operation rules obtained using the new Reardon fuzzy multiobjective optimization framework and confirm its applicability to a variety of multiobjective water resources problems.

Design Optimization of Mechanical Components Using an Enhanced Teaching-Learning Based Optimization Algorithm with Differential Operator

Directory of Open Access Journals (Sweden)

B. Thamaraikannan

2014-01-01

Full Text Available This paper studies in detail the background and implementation of a teaching-learning based optimization (TLBO algorithm with differential operator for optimization task of a few mechanical components, which are essential for most of the mechanical engineering applications. Like most of the other heuristic techniques, TLBO is also a population-based method and uses a population of solutions to proceed to the global solution. A differential operator is incorporated into the TLBO for effective search of better solutions. To validate the effectiveness of the proposed method, three typical optimization problems are considered in this research: firstly, to optimize the weight in a belt-pulley drive, secondly, to optimize the volume in a closed coil helical spring, and finally to optimize the weight in a hollow shaft. have been demonstrated. Simulation result on the optimization (mechanical components problems reveals the ability of the proposed methodology to find better optimal solutions compared to other optimization algorithms.

Service Operations Optimization: Recent Development in Supply Chain Management

Directory of Open Access Journals (Sweden)

Bin Shen

2015-01-01

Full Text Available Services are the key of success in operation management. Designing the effective strategies by optimization techniques is the fundamental and important condition for performance increase in service operations (SOs management. In this paper, we mainly focus on investigating SOs optimization in the areas of supply chain management, which create the greatest business values. Specifically, we study the recent development of SOs optimization associated with supply chain by categorizing them into four different industries (i.e., e-commerce industry, consumer service industry, public sector, and fashion industry and four various SOs features (i.e., advertising, channel coordination, pricing, and inventory. Moreover, we conduct the technical review on the stylish industries/topics and typical optimization models. The classical optimization approaches for SOs management in supply chain are presented. The managerial implications of SOs in supply chain are discussed.

Sustainability Perceptions in Romanian Non-Profit Organizations: An Exploratory Study Using Success Factor Analysis

Directory of Open Access Journals (Sweden)

Sebastian Ion Ceptureanu

2018-01-01

Full Text Available This paper analyses sustainability perceptions in Romanian non-profits by investigating 81 non-profits managers and board members. Using a multidimensional sustainability measurement framework, Success Factor Analysis, as a conceptual model, we measured perceptions on 5 critical sustainability factors: People, Business Model, Operations, Strategy and Culture and concluded that there are significant differences in the perceptions of sustainability depending on respondents’ previous failure experiences. While those which previously experienced failure adopt a long-term approach based on marketization, clear accountability standards and rely on strategy, while the others prefer a short-term approach, focused more on non-profits operations and focus on human resources.

Comparative Analysis Of Small Medium Enterprise Profitability Based On Its Ownership Form And Ethnicity: Study On Automotive Sector In Yogyakarta

OpenAIRE

Singapurwoko, Arif

2017-01-01

Tujuan penelitian mi adalah untuk mengetahui (apakah terdapat perbedaan operating profit margin, net profit margin dan return on investment antara pengusaha Jawa dengan Tionghoa, dan bentuk sole proprietorship dengan partnership. Lokasi penelitian dilakukan di Yogyakarta pada perusahaan-perusahaan skala kecil dan menengah yang bergerak dalam bisnis otomotif suku cadang mobil dan bengkel.Variabel independent dalam penelitian ini adalah operating profit margin, net profit margin dan return on i...

Profit maximization mitigates competition

DEFF Research Database (Denmark)

Dierker, Egbert; Grodal, Birgit

1996-01-01

We consider oligopolistic markets in which the notion of shareholders' utility is well-defined and compare the Bertrand-Nash equilibria in case of utility maximization with those under the usual profit maximization hypothesis. Our main result states that profit maximization leads to less price...... competition than utility maximization. Since profit maximization tends to raise prices, it may be regarded as beneficial for the owners as a whole. Moreover, if profit maximization is a good proxy for utility maximization, then there is no need for a general equilibrium analysis that takes the distribution...... of profits among consumers fully into account and partial equilibrium analysis suffices...

Piggerywaste management and profitability of pig farming in Imo ...

African Journals Online (AJOL)

Open Access DOWNLOAD FULL TEXT ... Piggery waste management systems in the study area were identified and described, the farm profitability ... Data were analyzed using descriptive statistics, operating net returns and benefit cost ratio.

Greenhouse gases emission assessment in residential sector through buildings simulations and operation optimization

International Nuclear Information System (INIS)

Stojiljković, Mirko M.; Ignjatović, Marko G.; Vučković, Goran D.

2015-01-01

Buildings use a significant amount of primary energy and largely contribute to greenhouse gases emission. Cost optimality and cost effectiveness, including cost-optimal operation, are important for the adoption of energy efficient and environmentally friendly technologies. The long-term assessment of buildings-related greenhouse gases emission might take into account cost-optimal operation of their energy systems. This is often not the case in the literature. Long-term operation optimization problems are often of large scale and computationally intensive and time consuming. This paper formulates a bottom-up methodology relying on an efficient, but precise operation optimization approach, applicable to long-term problems and use with buildings simulations. We suggest moving-horizon short-term optimization to determine near-optimal operation modes and show that this approach, applied to flexible energy systems without seasonal storage, have satisfactory efficiency and accuracy compared with solving problem for an entire year. We also confirm it as a valuable pre-solve technique. Approach applicability and the importance of energy systems optimization are illustrated with a case study considering buildings envelope improvements and cogeneration and heat storage implementation in an urban residential settlement. EnergyPlus is used for buildings simulations while mixed integer linear programming optimization problems are constructed and solved using the custom-built software and the branch-and-cut solver Gurobi Optimizer. - Highlights: • Bottom-up approach for greenhouse gases emission assessment is presented. • Short-term moving-horizon optimization is used to define operation regimes. • Operation optimization and buildings simulations are connected with modeling tool. • Illustrated optimization method performed efficiently and gave accurate results.

Optimum hub height of a wind turbine for maximizing annual net profit

International Nuclear Information System (INIS)

Lee, Jaehwan; Kim, Dong Rip; Lee, Kwan-Soo

2015-01-01

Highlights: • Annual Net Profit was proposed to optimize the hub height of a wind turbine. • Procedures of the hub height optimization method were introduced. • Effect of local wind speed characteristics on optimum hub height was illustrated. • Effect of rated power on optimum hub height was negligible in the range 0.75–3 MW. • Rated speed and cut-out speed had great effects on optimum hub height. - Abstract: The optimization method of the hub height, which can ensure the economic feasibility of the wind turbine, is proposed in this study. Annual Net Profit is suggested as an objective function and the optimization procedure is developed. The effects of local wind speed and wind turbine power characteristics on the optimum hub height are investigated. The optimum hub height decreased as the mean wind speed and wind shear exponent increased. Rated power had little effect on optimum hub height; it follows that the economies of scale are negligible in the rated power range of 0.75–3 MW. Among the wind turbine power characteristics, rated speed and cut-out speed most strongly affected the optimum hub height

Imperfect tax competition for profits, asymmetric equilibrium and beneficial tax havens

DEFF Research Database (Denmark)

Johannesen, Niels

2010-01-01

We present a model of tax competition for real investment and profits and show that the presence of tax havens in some cases increases the tax revenue of countries. In the first part of the paper, we argue that tax competition for profits is likely to be imperfect in the sense that the jurisdicti...... countries. We demonstrate that the latter effect may dominate the former effects so that countries, on balance, benefit from the presence of tax havens.......We present a model of tax competition for real investment and profits and show that the presence of tax havens in some cases increases the tax revenue of countries. In the first part of the paper, we argue that tax competition for profits is likely to be imperfect in the sense that the jurisdiction...... countries. In the second part of the paper, we introduce tax havens. Starting from a symmetric equilibrium, tax havens unambiguously reduce the tax revenue of countries due to a ‘leakage effect' - tax havens attract tax base from countries - and a 'competition effect' - the optimal response to the increased...

Proposal of a procedure of the operative program optimization of production in the petroleum refinery of PCK / Oder, Federal Republic of Germany

Directory of Open Access Journals (Sweden)

Josef Maily

2015-11-01

Full Text Available The blended of raw petroleum is an operation that can be optimized and it is based on a great quantity of knowledge and experience. The planning of these operations consists in obtaining a mixture of components with different properties and specification as octane, flow, level of sulfur etc., besides keeping in mind the existent capacities and the demand. This is considered important in this type of industries, since their profitability depends on finding the good mixture, due to the variability of the prices in the final products. The objective of this paper is to determine the good variant of production of the refinery PCK/Oder, Federal Republic of Germany that achieves the maximum of utilities, by means of the Parametric Lineal Programming. The preliminary validation, presents advantages in the utilities of until 4 %, in comparison with the use of the current method.

Discussion on: "Profit Maximization of a Power Plant"

DEFF Research Database (Denmark)

Boomsma (fhv. Kristoffersen), Trine Krogh; Fleten, Stein-Erik

2012-01-01

Kragelund et al. provides an interesting contribution to operations scheduling in liberalized electricity markets. They address the problem of profit maximization for a power plant participating in the electricity market. In particular, given that the plant has already been dispatched in a day...

On maximizing profit of wind-battery supported power station based on wind power and energy price forecasting

DEFF Research Database (Denmark)

Khalid, Muhammad; Aguilera, Ricardo P.; Savkin, Andrey V.

2017-01-01

This paper proposes a framework to develop an optimal power dispatch strategy for grid-connected wind power plants containing a Battery Energy Storage System (BESS). Considering the intermittent nature of wind power and rapidly varying electricity market price, short-term forecasting...... Dynamic Programming tool which can incorporate the predictions of both wind power and market price simultaneously as inputs in a receding horizon approach. The proposed strategy is validated using real electricity market price and wind power data in different scenarios of BESS power and capacity...... of these variables is used for efficient energy management. The predicted variability trends in market price assist in earning additional income which subsequently increase the operational profit. Then on the basis of income improvement, optimal capacity of the BESS can be determined. The proposed framework utilizes...

Profit Analysis and Supply Chain Planning Model for Closed-Loop Supply Chain in Fashion Industry

Directory of Open Access Journals (Sweden)

Jisoo Oh

2014-12-01

Full Text Available In recent decades, due to market growth and use of synthetic fiber, the fashion industry faces a rapid increase of CO2 emission throughout the production cycle and raises environmental issues in recovery processing. This study proposes a closed-loop supply chain (CLSC structure in fashion industry and develops its planning model as multi-objective mixed integer linear programming to find an optimal trade-off between CLSC profit and CO2 emission. The planning model is associated with the profit analysis of each member in CLSC to find the optimal price of products on CLSC network. The model determines optimal production, transportation, and inventory quantities on CLSC network. The proposed models are validated using numerical experiments and sensitivity analyses, and from the results some managerial insights are addressed.

Extreme Learning Machine and Particle Swarm Optimization in optimizing CNC turning operation

Science.gov (United States)

Janahiraman, Tiagrajah V.; Ahmad, Nooraziah; Hani Nordin, Farah

2018-04-01

The CNC machine is controlled by manipulating cutting parameters that could directly influence the process performance. Many optimization methods has been applied to obtain the optimal cutting parameters for the desired performance function. Nonetheless, the industry still uses the traditional technique to obtain those values. Lack of knowledge on optimization techniques is the main reason for this issue to be prolonged. Therefore, the simple yet easy to implement, Optimal Cutting Parameters Selection System is introduced to help the manufacturer to easily understand and determine the best optimal parameters for their turning operation. This new system consists of two stages which are modelling and optimization. In modelling of input-output and in-process parameters, the hybrid of Extreme Learning Machine and Particle Swarm Optimization is applied. This modelling technique tend to converge faster than other artificial intelligent technique and give accurate result. For the optimization stage, again the Particle Swarm Optimization is used to get the optimal cutting parameters based on the performance function preferred by the manufacturer. Overall, the system can reduce the gap between academic world and the industry by introducing a simple yet easy to implement optimization technique. This novel optimization technique can give accurate result besides being the fastest technique.

Hospital financial management: what is the link between revenue cycle management, profitability, and not-for-profit hospitals' ability to grow equity?

Science.gov (United States)

Singh, Simone Rauscher; Wheeler, John

2012-01-01

Effective revenue cycle management--from appointment scheduling and patient registration at the front end of the revenue cycle to billing and cash collections at the back end--plays a crucial role in hospitals' efforts to improve their financial performance. Using data for 1,397 bond-issuing, not-for-profit US hospitals for 2000 to 2007, this study analyzed the relationship between hospitals' performance at managing the revenue cycle and their profitability and ability to build equity capital. Hospital-level fixed effects regression analysis was used to model four different measures of profitability and equity capital as functions of two key financial indicators of revenue cycle management--amount of patient revenue and speed of revenue collection. The results indicated that higher amounts of patient revenue in relation to a hospital's assets were associated with statistically significant increases in operating and total profit margins, free cash flow, and equity capital (p < 0.01 for all four models); that is, hospitals that generated more patient revenue per dollar of assets invested reported improved financial performance. Likewise, a statistically significant link existed between lower revenue collection periods and all four indicators of hospital financial performance (p < 0.01 for three models; p < 0.05 for one model). Hospitals that collected faster on their patient revenue reported higher profit margins and larger equity values. For revenue cycle managers, these findings represent good news: Streamlining a hospital's management of the patient revenue cycle can advance the organization's financial viability by improving profitability and enabling equity growth.

Modified Chaos Particle Swarm Optimization-Based Optimized Operation Model for Stand-Alone CCHP Microgrid

Directory of Open Access Journals (Sweden)

Fei Wang

2017-07-01

Full Text Available The optimized dispatch of different distributed generations (DGs in stand-alone microgrid (MG is of great significance to the operation’s reliability and economy, especially for energy crisis and environmental pollution. Based on controllable load (CL and combined cooling-heating-power (CCHP model of micro-gas turbine (MT, a multi-objective optimization model with relevant constraints to optimize the generation cost, load cut compensation and environmental benefit is proposed in this paper. The MG studied in this paper consists of photovoltaic (PV, wind turbine (WT, fuel cell (FC, diesel engine (DE, MT and energy storage (ES. Four typical scenarios were designed according to different day types (work day or weekend and weather conditions (sunny or rainy in view of the uncertainty of renewable energy in variable situations and load fluctuation. A modified dispatch strategy for CCHP is presented to further improve the operation economy without reducing the consumers’ comfort feeling. Chaotic optimization and elite retention strategy are introduced into basic particle swarm optimization (PSO to propose modified chaos particle swarm optimization (MCPSO whose search capability and convergence speed are improved greatly. Simulation results validate the correctness of the proposed model and the effectiveness of MCPSO algorithm in the optimized operation application of stand-alone MG.

Does outsourcing affect hospital profitability?

Science.gov (United States)

Danvers, Kreag; Nikolov, Pavel

2010-01-01

Organizations outsource non-core service functions to achieve cost reductions and strategic benefits, both of which can impact profitability performance. This article examines relations between managerial outsourcing decisions and profitability for a multi-state sample of non-profit hospitals, across 16 states and four regions of the United States. Overall regression results indicate that outsourcing does not necessarily improve hospital profitability. In addition, we identify no profitability impact from outsourcing for urban hospitals, but somewhat positive effects for teaching hospitals. Our regional analysis suggests that hospitals located in the Midwest maintain positive profitability effects with outsourcing, but those located in the South realize negative effects. These findings have implications for cost reduction efforts and the financial viability of non-profit hospitals.

Comparison of operation optimization methods in energy system modelling

DEFF Research Database (Denmark)

Ommen, Torben Schmidt; Markussen, Wiebke Brix; Elmegaard, Brian

2013-01-01

In areas with large shares of Combined Heat and Power (CHP) production, significant introduction of intermittent renewable power production may lead to an increased number of operational constraints. As the operation pattern of each utility plant is determined by optimization of economics......, possibilities for decoupling production constraints may be valuable. Introduction of heat pumps in the district heating network may pose this ability. In order to evaluate if the introduction of heat pumps is economically viable, we develop calculation methods for the operation patterns of each of the used...... energy technologies. In the paper, three frequently used operation optimization methods are examined with respect to their impact on operation management of the combined technologies. One of the investigated approaches utilises linear programming for optimisation, one uses linear programming with binary...

Implementation of Cooperation for Recycling Vehicle Routing Optimization in Two-Echelon Reverse Logistics Networks

Directory of Open Access Journals (Sweden)

Yong Wang

2018-04-01

Full Text Available The formation of a cooperative alliance is an effective means of approaching the vehicle routing optimization in two-echelon reverse logistics networks. Cooperative mechanisms can contribute to avoiding the inefficient assignment of resources for the recycling logistics operations and reducing long distance transportation. With regard to the relatively low performance of waste collection, this paper proposes a three-phase methodology to properly address the corresponding vehicle routing problem on two echelons. First, a bi-objective programming model is established to minimize the total cost and the number of vehicles considering semitrailers and vehicles sharing. Furthermore, the Clarke–Wright (CW savings method and the Non-dominated Sorting Genetic Algorithm-II (NSGA-II are combined to design a hybrid routing optimization heuristic, which is denoted CW_NSGA-II. Routes on the first and second echelons are obtained on the basis of sub-optimal solutions provided by CW algorithm. Compared to other intelligent algorithms, CW_NSGA-II reduces the complexity of the multi-objective solutions search and mostly converges to optimality. The profit generated by cooperation among retail stores and the recycling hub in the reverse logistics network is fairly and reasonably distributed to the participants by applying the Minimum Costs-Remaining Savings (MCRS method. Finally, an empirical study in Chengdu City, China, reveals the superiority of CW_NSGA over the multi-objective particle swarm optimization and the multi objective genetic algorithms in terms of solutions quality and convergence. Meanwhile, the comparison of MCRS method with the Shapley value model, equal profit method and cost gap allocation proves that MCRS method is more conducive to the stability of the cooperative alliance. In general, the implementation of cooperation in the optimization of the reverse logistics network effectively leads to the sustainable development of urban and sub

Factorial Analysis of Profitability

OpenAIRE

Georgeta VINTILA; Ilie GHEORGHE; Ioana Mihaela POCAN; Madalina Gabriela ANGHEL

2012-01-01

The DuPont analysis system is based on decomposing the profitability ratio in factors of influence. This paper describes the factorial analysis of profitability based on the DuPont system. Significant importance is given to the impact on various indicators on the shares value and profitability.

OPTIMIZED PARTICLE SWARM OPTIMIZATION BASED DEADLINE CONSTRAINED TASK SCHEDULING IN HYBRID CLOUD

Directory of Open Access Journals (Sweden)

Dhananjay Kumar

2016-01-01

Full Text Available Cloud Computing is a dominant way of sharing of computing resources that can be configured and provisioned easily. Task scheduling in Hybrid cloud is a challenge as it suffers from producing the best QoS (Quality of Service when there is a high demand. In this paper a new resource allocation algorithm, to find the best External Cloud provider when the intermediate provider’s resources aren’t enough to satisfy the customer’s demand is proposed. The proposed algorithm called Optimized Particle Swarm Optimization (OPSO combines the two metaheuristic algorithms namely Particle Swarm Optimization and Ant Colony Optimization (ACO. These metaheuristic algorithms are used for the purpose of optimization in the search space of the required solution, to find the best resource from the pool of resources and to obtain maximum profit even when the number of tasks submitted for execution is very high. This optimization is performed to allocate job requests to internal and external cloud providers to obtain maximum profit. It helps to improve the system performance by improving the CPU utilization, and handle multiple requests at the same time. The simulation result shows that an OPSO yields 0.1% - 5% profit to the intermediate cloud provider compared with standard PSO and ACO algorithms and it also increases the CPU utilization by 0.1%.

The relationship of CSR and the business profit: can the most responsible companies be more profitable?

Directory of Open Access Journals (Sweden)

Antonio Miguel Gil Salmerón

2016-10-01

Full Text Available Persistent financial crisis and the cases of corruption afflicting Spain have broken the trust of society that forcefully demands an ethical, responsible and sustainable management of organizations, which are not immune to environmental problems. The effects of globalization, the introduction of tecnoestructura as a management model, technological and socio-economic changes have reshaped the cultural, management and ownership system of the current company, the company nowadays is transferred the responsibility to combine growth and competitiveness with social development and environmental improvement. This reconfiguration of business management model is implemented with the introduction of Corporate Social Responsibility (CSR in the strategic plans of the companies with the purpose of achieving a competitive advantage. The question is: can the most responsible companies be more profitable? The introduction of CSR in the organizational culture of the companies involved as a vector, accelerates the profitability of the companies that apply it: the higher level of CSR used, the more profitable the companies are. These conclusions are determined from a linear regression analysis comparing the ROA –return on assets– to CSR levels in a hundred companies with higher levels of sustainability that operate in Spain, according to a survey published in 2014 by the Monitor business Corporate Reputation (Merco

A game theoretical approach for cooperative green mobile operators under roaming price consideration

KAUST Repository

Ghazzai, Hakim

2015-09-11

In this paper, we investigate the performance of a green mobile operator collaborating with other traditional mobile operators. Its goal is to minimize its CO2 emissions, maximize its profit or achieve or tradeoff between both objectives by offloading its users to neighbor networks and exploiting renewable energies. On the other hand, traditional mobile operators aim to maximize their profits by attracting the maximum number of roamed users. The problem is modeled as a two-level Stackelberg game and its equilibrium is derived. A green mobile operator level that determines how many users per each base station to offload to each neighbor network, and a non-green mobile operator level where operators focus on finding the optimal roaming price. Our simulation results show a significant saving in terms of CO2 emissions compared to the non-cooperation case and that roaming decision depends essentially on the availability of renewable energy in base station sites. © 2015 IEEE.

Operation Characteristics Optimization of Low Power Three-Phase Asynchronous Motors

Directory of Open Access Journals (Sweden)

VLAD, I.

2014-02-01

Full Text Available Most published papers on low power asynchronous motors were aimed to achieve better operational performances in different operating conditions. The optimal design of the general-purpose motors requires searching and selecting an electric machine to meet minimum operating costs criterion and certain customer imposed restrictive conditions. In this paper, there are many significant simulations providing qualitative and quantitative information on reducing active and reactive energy losses in motors, and on parameters and constructive solution. The optimization study applied the minimal operating costs criterion, and it took into account the starting restrictive conditions. Thirteen variables regarding electromagnetic stresses and main constructive dimensions were considered. The operating costs of the optimized motor decreased with 25.6%, as compared to the existing solution. This paper can be a practical and theoretical support for the development and implementation of modern design methods, based on theoretical and experimental study of stationary and transient processes in low power motors, to increase efficiency and power factor.

Optimization and coordination of South-to-North Water Diversion supply chain with strategic customer behavior

Directory of Open Access Journals (Sweden)

Zhi-song Chen

2012-12-01

Full Text Available The South-to-North Water Diversion (SNWD Project is a significant engineering project meant to solve water shortage problems in North China. Faced with market operations management of the water diversion system, this study defined the supply chain system for the SNWD Project, considering the actual project conditions, built a decentralized decision model and a centralized decision model with strategic customer behavior (SCB using a floating pricing mechanism (FPM, and constructed a coordination mechanism via a revenue-sharing contract. The results suggest the following: (1 owing to water shortage supplements and the excess water sale policy provided by the FPM, the optimal ordering quantity of water resources is less than that without the FPM, and the optimal profits of the whole supply chain, supplier, and external distributor are higher than they would be without the FPM; (2 wholesale pricing and supplementary wholesale pricing with SCB are higher than those without SCB, and the optimal profits of the whole supply chain, supplier, and external distributor are higher than they would be without SCB; and (3 considering SCB and introducing the FPM help increase the optimal profits of the whole supply chain, supplier, and external distributor, and improve the efficiency of water resources usage.

Optimal Bidding Strategy for Renewable Microgrid with Active Network Management

Directory of Open Access Journals (Sweden)

Seung Wan Kim

2016-01-01

Full Text Available Active Network Management (ANM enables a microgrid to optimally dispatch the active/reactive power of its Renewable Distributed Generation (RDG and Battery Energy Storage System (BESS units in real time. Thus, a microgrid with high penetration of RDGs can handle their uncertainties and variabilities to achieve the stable operation using ANM. However, the actual power flow in the line connecting the main grid and microgrid may deviate significantly from the day-ahead bids if the bids are determined without consideration of the real-time adjustment through ANM, which will lead to a substantial imbalance cost. Therefore, this study proposes a formulation for obtaining an optimal bidding which reflects the change of power flow in the connecting line by real-time adjustment using ANM. The proposed formulation maximizes the expected profit of the microgrid considering various network and physical constraints. The effectiveness of the proposed bidding strategy is verified through the simulations with a 33-bus test microgrid. The simulation results show that the proposed bidding strategy improves the expected operating profit by reducing the imbalance cost to a greater degree compared to the basic bidding strategy without consideration of ANM.

Contract portfolio optimization for a gasoline supply chain

Science.gov (United States)

Wang, Shanshan

Major oil companies sell gasoline through three channels of trade: branded (associated with long-term contracts), unbranded (associated with short-term contracts), and spot market. The branded channel provides them with a long-term secured and sustainable demand source, but requires an inflexible long-term commitment with demand and price risks. The unbranded channel provides a medium level of allocation flexibility. The spot market provides them with the greatest allocation flexibility to the changing market conditions, but the spot market's illiquidity mitigates this benefit. In order to sell the product in a profitable and sustainable way, they need an optimal contract portfolio. This dissertation addresses the contract portfolio optimization problem from different perspectives (retrospective view and forward-looking view) at different levels (strategic level, tactical level and operational level). The objective of the retrospective operational model is to develop a financial case to estimate the business value of having a dynamic optimization model and quantify the opportunity values missed in the past. This model proves the financial significance of the problem and provides top management valuable insights into the business. BP has applied the insights and principles gained from this work and implemented the model to the entire Midwest gasoline supply chain to retrospectively review optimization opportunities. The strategic model is the most parsimonious model that captures the essential economic tradeoffs among different contract types, to demonstrate the need for a contract portfolio and what drives the portfolio. We examine the properties of the optimal contract portfolio and provide a comparative statics analysis by changing the model parameters. As the strategic model encapsulates the business problem at the macroscopic level, the tactical model resolves lower level issues. It considers the time dynamics, the information flow and contracting flow. Using

Increasing gas producer profitability with virtual well visibility via an end-to-end, wireless Internet gas monitoring system

Energy Technology Data Exchange (ETDEWEB)

McDougall, M.; Coleman, K.; Beck, R.; Lyon, R.; Potts, R. [Northrock Resources Ltd., Calgary, AB (Canada); Benterud, K. [Zed.i solutions, Calgary, AB (Canada)

2003-07-01

Most gas producing companies still use 100-year old technology to measure gas volumes because of the prohibitive costs of implementing corporate wide electronic information systems to replace circular mechanical chart technology. This paper describes how Northrock Resources Ltd. increased profitability using Smart-Alek{sup TM} while avoiding high implementation costs. Smart-Alek is a new type of fully integrated end-to-end electronic gas flow measurement (GFM) system based on Field Intelligence Network and End User Interference (FINE). Smart-Alek can analyze gas production through public wireless communications and a web-browser delivery system. The system has enabled Northrock to increase gas volumes with more accurate measurement and reduced downtime. In addition, operating costs were also decreased because the frequency of well visits was reduced and the administrative procedures of data collection was more efficient. The real-time well visibility of the tool has proven to be very effective in optimizing business profitability. 9 refs., 1 tab., 9 figs.

Profit through predictability: The MRF difference at optimax

Science.gov (United States)

Light, Brandon

2007-05-01

In the manufacturing business, there is one product that matters, money. Whether making shoelaces or aircraft carriers a business that doesn't also make a profit doesn't stay around long. Being able to predict operational expenses is critical to determining a product's sale price. Priced too high a product won't sell, too low profit goes away. In the business of precision optics manufacturing, predictability has been often impossible or had large error bars. Manufacturing unpredictability made setting price a challenge. What if predictability could improve by changing the polishing process? Would a predictable, deterministic process lead to profit? Optimax Systems has experienced exactly that. Incorporating Magnetorheological Finishing (MRF) into its finishing process, Optimax saw parts categorized financially as "high risk" become a routine product of higher quality, delivered on time and within budget. Using actual production figures, this presentation will show how much incorporating MRF reduced costs, improved output and increased quality all at the same time.

Optimal sizing and operation of energy storage systems considering long term assessment

Directory of Open Access Journals (Sweden)

Gerardo Guerra

2018-01-01

Full Text Available This paper proposes a procedure for estimating the optimal sizing of Photovoltaic Generators and Energy Storage units when they are operated from the utility’s perspective. The goal is to explore the potential improvement on the overall operating conditions of the distribution system to which the Generators and Storage units will be connected. Optimization is conducted by means of a General Parallel Genetic Algorithm that seeks to maximize the technical benefits for the distribution system. The paper proposes an operation strategy for Energy Storage units based on the daily variation of load and generation; the operation strategy is optimized for an evaluation period of one year using hourly power curves. The construction of the yearly Storage operation curve results in a high-dimension optimization problem; as a result, different day-classification methods are applied in order to reduce the dimension of the optimization. Results show that the proposed approach is capable of producing significant improvements in system operating conditions and that the best performance is obtained when the day-classification is based on the similarity among daily power curves.

Total output operation chart optimization of cascade reservoirs and its application

International Nuclear Information System (INIS)

Jiang, Zhiqiang; Ji, Changming; Sun, Ping; Wang, Liping; Zhang, Yanke

2014-01-01

Highlights: • We propose a new double nested model for cascade reservoirs operation optimization. • We use two methods to extract the output distribution ratio. • The adopted two methods perform better than the widely used methods at present. • Stepwise regression method performs better than mean value method on the whole. - Abstract: With the rapid development of cascade hydropower stations in recent decades, the cascade system composed of multiple reservoirs needs unified operation and management. However, the output distribution problem has not yet been solved reasonably when the total output of cascade system obtained, which makes the full utilization of hydropower resources in cascade reservoirs very difficult. Discriminant criterion method is a traditional and common method to solve the output distribution problem at present, but some shortcomings cannot be ignored in the practical application. In response to the above concern, this paper proposes a new total output operation chart optimization model and a new optimal output distribution model, the two models constitute to a double nested model with the goal of maximizing power generation. This paper takes the cascade reservoirs of Li Xianjiang River in China as an instance to obtain the optimal total output operation chart by the proposed double nested model and the 43 years historical runoff data, progressive searching method and progressive optimality algorithm are used in solving the model. In order to take the obtained total output operation chart into practical operation, mean value method and stepwise regression method are adopted to extract the output distribution ratios on the basis of the optimal simulation intermediate data. By comparing with discriminant criterion method and conventional method, the combined utilization of total output operation chart and output distribution ratios presents better performance in terms of power generation and assurance rate, which proves it is an effective

Optimal operational strategies for a day-ahead electricity market in the presence of market power using multi-objective evolutionary algorithms

Science.gov (United States)

Rodrigo, Deepal

2007-12-01

This dissertation introduces a novel approach for optimally operating a day-ahead electricity market not only by economically dispatching the generation resources but also by minimizing the influences of market manipulation attempts by the individual generator-owning companies while ensuring that the power system constraints are not violated. Since economic operation of the market conflicts with the individual profit maximization tactics such as market manipulation by generator-owning companies, a methodology that is capable of simultaneously optimizing these two competing objectives has to be selected. Although numerous previous studies have been undertaken on the economic operation of day-ahead markets and other independent studies have been conducted on the mitigation of market power, the operation of a day-ahead electricity market considering these two conflicting objectives simultaneously has not been undertaken previously. These facts provided the incentive and the novelty for this study. A literature survey revealed that many of the traditional solution algorithms convert multi-objective functions into either a single-objective function using weighting schemas or undertake optimization of one function at a time. Hence, these approaches do not truly optimize the multi-objectives concurrently. Due to these inherent deficiencies of the traditional algorithms, the use of alternative non-traditional solution algorithms for such problems has become popular and widely used. Of these, multi-objective evolutionary algorithms (MOEA) have received wide acceptance due to their solution quality and robustness. In the present research, three distinct algorithms were considered: a non-dominated sorting genetic algorithm II (NSGA II), a multi-objective tabu search algorithm (MOTS) and a hybrid of multi-objective tabu search and genetic algorithm (MOTS/GA). The accuracy and quality of the results from these algorithms for applications similar to the problem investigated here

Optimal Operations and Resilient Investments in Steam Networks

Energy Technology Data Exchange (ETDEWEB)

Bungener, Stéphane L., E-mail: stephane.bungener@a3.epfl.ch [Industrial Process and Energy Systems Engineering, École Polytechnique Fédérale de Lausanne, Lausanne (Switzerland); Van Eetvelde, Greet [Environmental and Spatial Management, Faculty of Engineering and Architecture, Ghent University, Ghent (Belgium); Maréchal, François [Industrial Process and Energy Systems Engineering, École Polytechnique Fédérale de Lausanne, Lausanne (Switzerland)

2016-01-20

Steam is a key energy vector for industrial sites, most commonly used for process heating and cooling, cogeneration of heat and mechanical power as a motive fluid or for stripping. Steam networks are used to carry steam from producers to consumers and between pressure levels through letdowns and steam turbines. The steam producers (boilers, heat and power cogeneration units, heat exchangers, chemical reactors) should be sized to supply the consumers at nominal operating conditions as well as peak demand. First, this paper proposes an Mixed Integer Linear Programing formulation to optimize the operations of steam networks in normal operating conditions and exceptional demand (when operating reserves fall to zero), through the introduction of load shedding. Optimization of investments based on operational and investment costs are included in the formulation. Though rare, boiler failures can have a heavy impact on steam network operations and costs, leading to undercapacity and unit shutdowns. A method is therefore proposed to simulate steam network operations when facing boiler failures. Key performance indicators are introduced to quantify the network’s resilience. The proposed methods are applied and demonstrated in an industrial case study using industrial data. The results indicate the importance of oversizing key steam producing equipments and the value of industrial symbiosis to increase industrial site resilience.

Optimal Operations and Resilient Investments in Steam Networks

International Nuclear Information System (INIS)

Bungener, Stéphane L.; Van Eetvelde, Greet; Maréchal, François

2016-01-01

Steam is a key energy vector for industrial sites, most commonly used for process heating and cooling, cogeneration of heat and mechanical power as a motive fluid or for stripping. Steam networks are used to carry steam from producers to consumers and between pressure levels through letdowns and steam turbines. The steam producers (boilers, heat and power cogeneration units, heat exchangers, chemical reactors) should be sized to supply the consumers at nominal operating conditions as well as peak demand. First, this paper proposes an Mixed Integer Linear Programing formulation to optimize the operations of steam networks in normal operating conditions and exceptional demand (when operating reserves fall to zero), through the introduction of load shedding. Optimization of investments based on operational and investment costs are included in the formulation. Though rare, boiler failures can have a heavy impact on steam network operations and costs, leading to undercapacity and unit shutdowns. A method is therefore proposed to simulate steam network operations when facing boiler failures. Key performance indicators are introduced to quantify the network’s resilience. The proposed methods are applied and demonstrated in an industrial case study using industrial data. The results indicate the importance of oversizing key steam producing equipments and the value of industrial symbiosis to increase industrial site resilience.

Consumer-driven profit maximization in broiler production and processing

Directory of Open Access Journals (Sweden)

Ecio de Farias Costa

2004-01-01

Full Text Available Increased emphasis on consumer markets in broiler profit-maximizing modeling generates results that differ from those by traditional profit-maximization models. This approach reveals that the adoption of step pricing and consideration of marketing options (examples of responsiveness to consumers affect the optimal feed formulation levels and types of broiler production to generate maximum profitability. The adoption of step pricing attests that higher profits can be obtained for targeted weights only if premium prices for broiler products are contracted.Um aumento na ênfase dada ao mercado de consumidores de carne de frango e modelos de maximização de lucros na produção de frangos de corte geram resultados que diferem daqueles obtidos em modelos tradicionais de maximização de lucros. Esta metodologia revela que a adoção de step-pricing e considerando opções de mercado (exemplos de resposta às preferências de consumidores afetam os níveis ótimos de formulação de rações e os tipos de produção de frangos de corte que geram uma lucratividade máxima. A adoção de step-pricing atesta que maiores lucros podem ser obtidos para pesos-alvo somente se preços-prêmio para produtos processados de carne de frango forem contratados.

Stochastic Lot-Sizing under Carbon Emission Control for Profit Optimisation in MTO Manufacturing

Directory of Open Access Journals (Sweden)

Qiao A.

2017-01-01

Full Text Available Aggravating global warming has heightened the imminent need by the world to step up forceful efforts on curbing emission of greenhouse gases. Although manufacturing is a major resource of carbon emission, few research works have studied the impacts of carbon constraints on manufacturing, leading to environmentally unsustainable production strategies and operations. This paper incorporates carbon emission management into production planning for make-to-order (MTO manufacturing. This paper proposes a model that solves lot-sizing problems to maximise profits under carbon emission caps. The model adopts stochastic interarrival times for customer orders to enhance the practicality of the results for real-world manufacturing. Numerical experiments show that reducing carbon emission undercuts short-term profits of a company. However, it is conducive to the company’s market image as being socially responsible which would attract more customers who concern about environmental protection. Hence, reducing carbon emission in manufacturing is beneficial to long-term profitability and sustainability. The results provide managerial insights into manufacture operations for balancing profitability and carbon control.

Risk and profitability of animal and crop production in Slovak farms

Directory of Open Access Journals (Sweden)

Marián Tóth

2017-10-01

Full Text Available The paper focuses on profitability and risk of crop and animal production based on an analysis of farms operating in Slovak Republic. The individual farm data used for the analysis are from the database of Ministry of Agriculture and Rural Development of the Slovak Republic. For our analysis, data were selected according to the farm production orientation to the subset of crop farms and animal farms. The selecting criterion for production orientation was the percentage share of revenues from crop production, or revenues from animal production from the overall revenues from own products and services. We analyse profitability of farms divided into groups based on the type of production into crop and animal farms (according to the share in sales from crop or animal production. Using descriptive statistics and portfolio theory we simulate the total farm profitability and volatility of animal and crop production in Slovakia. The modified Markowitz portfolio theory approach was used to estimate the total risk of portfolios of crop and animal farms. Based on the results we conclude that in the long run crop farms are profitable and profit from crop production is used to cover the losses from animal production in mixed farms. Farms focused on animal production only are efficient and profitable, but the profitability is lower in comparison with crop farms. Animal farms results are less volatile than crop farms. Large farms tend to production with lower value added and can generate enough profit for the owner.

For-profit colleges.

Science.gov (United States)

Deming, David; Goldin, Claudia; Katz, Lawrence

2013-01-01

For-profit, or proprietary, colleges are the fastest-growing postsecondary schools in the nation, enrolling a disproportionately high share of disadvantaged and minority students and those ill-prepared for college. Because these schools, many of them big national chains, derive most of their revenue from taxpayer-funded student financial aid, they are of interest to policy makers not only for the role they play in the higher education spectrum but also for the value they provide their students. In this article, David Deming, Claudia Goldin, and Lawrence Katz look at the students who attend for-profits, the reasons they choose these schools, and student outcomes on a number of broad measures and draw several conclusions. First, the authors write, the evidence shows that public community colleges may provide an equal or better education at lower cost than for-profits. But budget pressures mean that community colleges and other nonselective public institutions may not be able to meet the demand for higher education. Some students unable to get into desired courses and programs at public institutions may face only two alternatives: attendance at a for-profit or no postsecondary education at all. Second, for-profits appear to be at their best with well-defined programs of short duration that prepare students for a specific occupation. But for-profit completion rates, default rates, and labor market outcomes for students seeking associate's or higher degrees compare unfavorably with those of public postsecondary institutions. In principle, taxpayer investment in student aid should be accompanied by scrutiny concerning whether students complete their course of study and subsequently earn enough to justify the investment and pay back their student loans. Designing appropriate regulations to help students navigate the market for higher education has proven to be a challenge because of the great variation in student goals and types of programs. Ensuring that potential

Joint optimization of customer segmentation and marketing policy to maximize long-term profitability

NARCIS (Netherlands)

J-J. Jonker (Jedid-Jah); N. Piersma (Nanda); D. Van den Poel (Dirk)

2002-01-01

textabstractWith the advent of one-to-one marketing media, e.g. targeted direct mail or internet marketing, the opportunities to develop targeted marketing campaigns are enhanced in such a way that it is now both organizationally and economically feasible to profitably support a substantially larger

Operational optimization in the downstream; Otimizacao operacional no downstream

Energy Technology Data Exchange (ETDEWEB)

Silberman, Luis; Cunha, Filipe Silveira Ramos da [Petroleo Ipiranga, Porto Alegre, RS (Brazil)

2004-07-01

On the present competitive down stream's market, there is a great necessity of optimization aiming to guarantee the best price and quality of our clients. Our goal is to attend these expectations while we guarantee an efficient operation. The greatest question is how far we are from the ideal model. This way, a lot of projects have been executed during the last years aiming the operational optimization of all our activities. We divide the projects in 4 areas: Logistic (new modals distribution), Transport (transport optimization - quality and more deliveries with less trucks), Client Support (Internet Ipiranga and Support Center), Distribution Terminals Productivity (automation and environment). This work intend to present our ideal, perfect and complete Downstream Operation model. We will talk about how close we are of this ideal model and we will present the projects that we had already developed and implanted on the automation of the terminals and the logistics area. (author)

COMPARATIVE ANALYSIS OF PROFITABILITY DETERMINANTS OF DOMESTIC AND FOREIGN ISLAMIC BANKS IN MALAYSIA

Directory of Open Access Journals (Sweden)

Muhamad Muda

2013-07-01

Full Text Available This paper is conducted to compare the determinants of profitability of the domestic and foreign Islamic banks operating in Malaysia. The Generalized Least Square (GLS is employed with unbalanced panel data on seventeen Islamic banks, using quarterly data for the period of 2007 to 2010. In order to find out the differences in the profitability determinants, the sample of banks is divided into two sub-samples (domestic and foreign. The results reveal that domestic Islamic banks are more profitable than foreign Islamic banks. The results also show that the profitability determinants of domestic banks are different from those of foreign banks. The overhead expenses, loans, efficiency, gross domestic product growth rate and bank size have a significant effect in determining banks’ profitability, in which case applicable to the domestic banks only. In turn, the gross domestic product per capita has a significant effect in determining banks’ profitability of only the foreign banks. The study finds that, deposits, capital and reserves, inflation and banks’ age have a significant effect in determining banks’ profitability of both domestic and foreign banks. Meanwhile, liquidity and concentration are not able to explain the variability of domestic and foreign Islamic banks’ profitability. The findings indicate that the profitability of domestic banks is affected by the global financial crisis while, the profitability of foreign banks is not affected.

Impact of Liquidity on Islamic Banks' Profitability: Evidence from Bangladesh

Directory of Open Access Journals (Sweden)

Limon Moinur Rasul

2013-04-01

Full Text Available This study examines the impact of liquidity on Islamic banks’ profitability during an 11 years period of 2001 to 2011. To explore and interpret the results the study has taken samples from five Islamic banks that have been in operation in Bangladesh on or before 2001 to till date. In order to construct the liquidity model it used four liquidity variables namely cash & due from banks to total assets (CDTA, cash & due from banks to total deposits (CDDEP, investment to total assets (INVSTA and investment to total deposits (INVSDEP. According to adjusted R squares profitability variables return on assets (ROA, return on equity (ROE and return on deposits (ROD are respectively 17.1%, 4.5% and 24.6% dependent on independent variables. The statistical results suggest that CDTA is found insignificant with all profitability variables, whereas CDDEP is individually significant with all profitability variables except ROE. On the other hand INVSTA and INVSDEP are recognized significant with all three profitability variables. However, when ROE stands for an insignificant relationship with the overall liquidity model, ROA and ROD are identified significantly correlated with the similar model at 1% significant level. Unsurprisingly the findings do strengthen the specification that the impact of liquidity reflects adequate imposition on profitability that the Islamic banks in Bangladesh must abide by.

Determinants of profitability according to groups of banks in Albania

Directory of Open Access Journals (Sweden)

Dr.Sc. Arjeta Hallunovi

2017-06-01

Full Text Available The paper analyzed the determinants of profitability of all the commercial banks in Albania, where the banks were analyzed by dividing into groups[1]. These determinants are categorized into two groups, internal and external factors. The objective of the study is to determine the factors that affect the profitability in commercial banks, to show how they differ according to groups of the banks and making some recommendations which can help the management. A panel data with all the commercial banks that operate in Albania is analyzed for the period 2009-2014. To measure the profitability is used the independent variable return on assets. Banking specific factors that are used in this study include variables such as bank size, asset management, credit risk, liquidity of assets, capital adequacy, operational efficiency and cost of financing. On the other hand is taken into consideration only one industry specific factor, which is the concentration and some macroeconomic factors as GDP, exchange rate and inflation. The quantitative data are obtained from the financial statements of commercial banks, INSTAT, Bank of Albania, World Bank and Bankscope, in order to make empirical analysis needed to identify and measure the determinants of bank profitability. In particular, the multiple regression analysis is used to measure the impact of determinants in bank profitability and to realize empirical analysis is used Eviews 7. The results of the study showed a positive relationship between bank size and profitability, statistically important in the group 2, with 1% level of significance. The credit risk had an inverse relation with profitability in the model, statistically significant at 1% level of significance for the group 2 and 5% for the group 1 and 3. While, in terms of macroeconomic factors, GDP had a positive relationship with profitability and it is statistically significant in the group 3. On the other hand, inflation and exchange rate showed a

Optimization of Operations Resources via Discrete Event Simulation Modeling

Science.gov (United States)

Joshi, B.; Morris, D.; White, N.; Unal, R.

1996-01-01

The resource levels required for operation and support of reusable launch vehicles are typically defined through discrete event simulation modeling. Minimizing these resources constitutes an optimization problem involving discrete variables and simulation. Conventional approaches to solve such optimization problems involving integer valued decision variables are the pattern search and statistical methods. However, in a simulation environment that is characterized by search spaces of unknown topology and stochastic measures, these optimization approaches often prove inadequate. In this paper, we have explored the applicability of genetic algorithms to the simulation domain. Genetic algorithms provide a robust search strategy that does not require continuity and differentiability of the problem domain. The genetic algorithm successfully minimized the operation and support activities for a space vehicle, through a discrete event simulation model. The practical issues associated with simulation optimization, such as stochastic variables and constraints, were also taken into consideration.

Site utility system optimization with operation adjustment under uncertainty

International Nuclear Information System (INIS)

Sun, Li; Gai, Limei; Smith, Robin

2017-01-01

Highlights: • Uncertainties are classified into time-based and probability-based uncertain factors. • Multi-period operation and recourses deal with uncertainty implementation. • Operation scheduling are specified at the design stage to deal with uncertainties. • Steam mains superheating affects steam distribution and power generation in the system. - Abstract: Utility systems must satisfy process energy and power demands under varying conditions. The system performance is decided by the system configuration and individual equipment operating load for boilers, gas turbines, steam turbines, condensers, and let down valves. Steam mains conditions in terms of steam pressures and steam superheating also play important roles on steam distribution in the system and power generation by steam expansion in steam turbines, and should be included in the system optimization. Uncertainties such as process steam power demand changes and electricity price fluctuations should be included in the system optimization to eliminate as much as possible the production loss caused by steam power deficits due to uncertainties. In this paper, uncertain factors are classified into time-based and probability-based uncertain factors, and operation scheduling containing multi-period equipment load sharing, redundant equipment start up, and electricity import to compensate for power deficits, have been presented to deal with the happens of uncertainties, and are formulated as a multi-period item and a recourse item in the optimization model. There are two case studies in this paper. One case illustrates the system design to determine system configuration, equipment selection, and system operation scheduling at the design stage to deal with uncertainties. The other case provides operational optimization scenarios for an existing system, especially when the steam superheating varies. The proposed method can provide practical guidance to system energy efficiency improvement.

Optimal reservoir operation policies using novel nested algorithms

Science.gov (United States)

Delipetrev, Blagoj; Jonoski, Andreja; Solomatine, Dimitri

2015-04-01

Historically, the two most widely practiced methods for optimal reservoir operation have been dynamic programming (DP) and stochastic dynamic programming (SDP). These two methods suffer from the so called "dual curse" which prevents them to be used in reasonably complex water systems. The first one is the "curse of dimensionality" that denotes an exponential growth of the computational complexity with the state - decision space dimension. The second one is the "curse of modelling" that requires an explicit model of each component of the water system to anticipate the effect of each system's transition. We address the problem of optimal reservoir operation concerning multiple objectives that are related to 1) reservoir releases to satisfy several downstream users competing for water with dynamically varying demands, 2) deviations from the target minimum and maximum reservoir water levels and 3) hydropower production that is a combination of the reservoir water level and the reservoir releases. Addressing such a problem with classical methods (DP and SDP) requires a reasonably high level of discretization of the reservoir storage volume, which in combination with the required releases discretization for meeting the demands of downstream users leads to computationally expensive formulations and causes the curse of dimensionality. We present a novel approach, named "nested" that is implemented in DP, SDP and reinforcement learning (RL) and correspondingly three new algorithms are developed named nested DP (nDP), nested SDP (nSDP) and nested RL (nRL). The nested algorithms are composed from two algorithms: 1) DP, SDP or RL and 2) nested optimization algorithm. Depending on the way we formulate the objective function related to deficits in the allocation problem in the nested optimization, two methods are implemented: 1) Simplex for linear allocation problems, and 2) quadratic Knapsack method in the case of nonlinear problems. The novel idea is to include the nested

Leadership Strategies for Maintaining Profitability in a Volatile Crude Oil Market

Science.gov (United States)

Braimoh, Lucky Anderson

Volatile crude oil prices significantly affect the profitability of crude oil firms. The purpose of this single case study was to explore strategies some crude oil and gas business leaders used to remain profitable during periods of crude oil price volatility. The target population comprised 8 crude oil and gas business leaders located in Calgary, Canada, whose company remained profitable despite crude oil price volatility. The transformational leadership theory formed the conceptual framework for the study. Data were collected through the use of semistructured face-to-face interviews, company reports, and field notes. Data analysis involved a modified Van Kamm method, which included descriptive coding, a sequential review of the interview transcripts, and member checking. Based on methodological triangulation and thematic analysis, 5 themes emerged from the study, including communication and engagement; motivation and empowerment; measurement, monitoring, and control; self-awareness and humility; and efficiency and optimization. The implications for social change include the potential for crude oil and gas companies in Calgary, Canada to manage production costs, ensure earnings and profitability, and thus improve the socioeconomic well-being of Calgary indigenes through improved employment opportunities.

An Integrated GIS, optimization and simulation framework for optimal PV size and location in campus area environments

International Nuclear Information System (INIS)

Kucuksari, Sadik; Khaleghi, Amirreza M.; Hamidi, Maryam; Zhang, Ye; Szidarovszky, Ferenc; Bayraksan, Guzin; Son, Young-Jun

2014-01-01

Highlights: • The optimal size and locations for PV units for campus environments are achieved. • The GIS module finds the suitable rooftops and their panel capacity. • The optimization module maximizes the long-term profit of PV installations. • The simulation module evaluates the voltage profile of the distribution network. • The proposed work has been successfully demonstrated for a real university campus. - Abstract: Finding the optimal size and locations for Photovoltaic (PV) units has been a major challenge for distribution system planners and researchers. In this study, a framework is proposed to integrate Geographical Information Systems (GIS), mathematical optimization, and simulation modules to obtain the annual optimal placement and size of PV units for the next two decades in a campus area environment. First, a GIS module is developed to find the suitable rooftops and their panel capacity considering the amount of solar radiation, slope, elevation, and aspect. The optimization module is then used to maximize the long-term net profit of PV installations considering various costs of investment, inverter replacement, operation, and maintenance as well as savings from consuming less conventional energy. A voltage profile of the electricity distribution network is then investigated in the simulation module. In the case of voltage limit violation by intermittent PV generations or load fluctuations, two mitigation strategies, reallocation of the PV units or installation of a local storage unit, are suggested. The proposed framework has been implemented in a real campus area, and the results show that it can effectively be used for long-term installation planning of PV panels considering both the cost and power quality

The benefits of customer profitability analysis in the hospitality industry

Directory of Open Access Journals (Sweden)

Dragan Georgiev

2017-03-01

Full Text Available The article reveals the benefits of customer profitability analysis implementation according to the specifics of the hotel product and the state of the management accounting in hotels. On this basis is substantiated the necessity management accounting and information systems in the hotels to be anteriorly adapted and developed in relevance with the objectives and methodological tools of customer profitability analysis, while keeping their function in collecting information for operational revenues and costs by responsibility centers. A model for customer profitability analysis based on ABC method is proposed in this connection, providing an example to clarify its methodological aspects and benefits. The latter consist in providing information for the purposes of taking a variety of management decisions regarding costs, product mix, pricing, performance measurement and implementation of various marketing initiatives.

Optimal Operation of Data Centers in Future Smart Grid

Science.gov (United States)

Ghamkhari, Seyed Mahdi

The emergence of cloud computing has established a growing trend towards building massive, energy-hungry, and geographically distributed data centers. Due to their enormous energy consumption, data centers are expected to have major impact on the electric grid by significantly increasing the load at locations where they are built. However, data centers also provide opportunities to help the grid with respect to robustness and load balancing. For instance, as data centers are major and yet flexible electric loads, they can be proper candidates to offer ancillary services, such as voluntary load reduction, to the smart grid. Also, data centers may better stabilize the price of energy in the electricity markets, and at the same time reduce their electricity cost by exploiting the diversity in the price of electricity in the day-ahead and real-time electricity markets. In this thesis, such potentials are investigated within an analytical profit maximization framework by developing new mathematical models based on queuing theory. The proposed models capture the trade-off between quality-of-service and power consumption in data centers. They are not only accurate, but also they posses convexity characteristics that facilitate joint optimization of data centers' service rates, demand levels and demand bids to different electricity markets. The analysis is further expanded to also develop a unified comprehensive energy portfolio optimization for data centers in the future smart grid. Specifically, it is shown how utilizing one energy option may affect selecting other energy options that are available to a data center. For example, we will show that the use of on-site storage and the deployment of geographical workload distribution can particularly help data centers in utilizing high-risk energy options such as renewable generation. The analytical approach in this thesis takes into account service-level-agreements, risk management constraints, and also the statistical

Optimization of ejector design and operation

Directory of Open Access Journals (Sweden)

Kuzmenko Konstantin

2016-01-01

Full Text Available The investigation aims at optimization of gas ejector operation. The goal consists in the improvement of the inflator design so that to enable 50 liters of gas inflation within ~30 milliseconds. For that, an experimental facility was developed and fabricated together with the measurement system to study pressure patterns in the inflator path.

Patient experience and hospital profitability: Is there a link?

Science.gov (United States)

Richter, Jason P; Muhlestein, David B

Patient experience has had a direct financial impact on hospitals since value-based purchasing was instituted by the Centers for Medicare & Medicaid Services in 2013 as a method to reward or punish hospitals based on performance on various measures, including patient experience. Although other industries have shown an indirect impact of customer experience on overall profitability, that link has not been well established in the health care industry. Return-to-provider rate and perceptions of health quality have been associated with profitability in the health care industry. Our aims were to assess whether, independent of a direct financial impact, a more positive patient experience is associated with increased profitability and whether a more negative patient experience is associated with decreased profitability. We used a sample of 19,792 observations from 3767 hospitals over the 6-year period 2007-2012. The data were sourced from Centers for Medicare & Medicaid Services and Hospital Consumer Assessment of Healthcare Providers and Systems. Using generalized estimating equations to account for repeated measures, we fit four separate models for three dependent variables: net patient revenue, net income, and operating margin. Each model included one of the following independent variables of interest: percentage of patients who definitely recommend the hospital, percentage of patients who definitely would not recommend the hospital, percentage of patients who rated the hospital 9 or 10, and percentage of patients who rated the hospital 6 or lower. We identified that a positive patient experience is associated with increased profitability and a negative patient experience is even more strongly associated with decreased profitability. Management should have greater justification for incurring costs associated with bolstering patient experience programs. Improvements in training, technology, and staffing can be justified as a way to improve not only quality but now

Modeling and operation optimization of a proton exchange membrane fuel cell system for maximum efficiency

International Nuclear Information System (INIS)

Han, In-Su; Park, Sang-Kyun; Chung, Chang-Bock

2016-01-01

Highlights: • A proton exchange membrane fuel cell system is operationally optimized. • A constrained optimization problem is formulated to maximize fuel cell efficiency. • Empirical and semi-empirical models for most system components are developed. • Sensitivity analysis is performed to elucidate the effects of major operating variables. • The optimization results are verified by comparison with actual operation data. - Abstract: This paper presents an operation optimization method and demonstrates its application to a proton exchange membrane fuel cell system. A constrained optimization problem was formulated to maximize the efficiency of a fuel cell system by incorporating practical models derived from actual operations of the system. Empirical and semi-empirical models for most of the system components were developed based on artificial neural networks and semi-empirical equations. Prior to system optimizations, the developed models were validated by comparing simulation results with the measured ones. Moreover, sensitivity analyses were performed to elucidate the effects of major operating variables on the system efficiency under practical operating constraints. Then, the optimal operating conditions were sought at various system power loads. The optimization results revealed that the efficiency gaps between the worst and best operation conditions of the system could reach 1.2–5.5% depending on the power output range. To verify the optimization results, the optimal operating conditions were applied to the fuel cell system, and the measured results were compared with the expected optimal values. The discrepancies between the measured and expected values were found to be trivial, indicating that the proposed operation optimization method was quite successful for a substantial increase in the efficiency of the fuel cell system.

Optimal control of load-following operations in a pressurized water reactor

International Nuclear Information System (INIS)

Zhao Fuyu; Zhou Dawei

2000-01-01

According to the optimal control theory, the problem of load-following operation in a pressurized water reactor is formulated as a nonlinear-quadratic optimal control problem. One-dimensional core model is adopted. A successful optimization algorithm DDPSR is proposed to solving the obtained problem. The research results show that the DDPSR can converge with a long time interval and needs very small iteration number and computing time, and the practical reactor can be fairly operated in an optimal load-following manner and axial offset satisfies the required value from beginning to end. Control characters of boron concentration are discussed specially

The Charpin report confirms the profitability of nuclear energy

International Nuclear Information System (INIS)

Anon.

2000-01-01

An official report written by 3 experts committed by the French government in may 1999 about the profitability of nuclear energy has been published. In this report 7 scenarios have been compared according to the demand of electricity, the price of gas, the operating life of power plants and the nuclear equipment replacement schedule. If the prices of fossil energies (oil and gas) remain stable, the cheapest scenarios are those based on the non-replacement of nuclear power plants when they reach their maximal operating life. The differences between scenarios are so slight than the uncertainty about the price of gas is enough to make a scenario more profitable than another. The extra-costs of carbon emissions that France will have to face in order to respect the Kyoto agreement, will weigh more in the economic balance than the management of radioactive wastes. (A.C.)

The effect of pre-operative optimization on post-operative outcome in Crohn's disease resections

DEFF Research Database (Denmark)

El-Hussuna, Alaa; Iesalnieks, Igors; Horesh, Nir

2017-01-01

BACKGROUND: The timing of surgical intervention in Crohn's disease (CD) may depend on pre-operative optimization (PO) which includes different interventions to decrease the risk for unfavourable post-operative outcome. The objective of this study was to investigate the effect of multi-model PO on...

How to make microenterprise profitable

OpenAIRE

Maksimenko, Pavel; Hokkanen, Hannu

2009-01-01

The idea of the thesis is to give a good insight on how to make a microenterprise profitable from marketing and networking points of view and explain the basic steps that are needed to be taken when establishing a company. We took the company Maks Investment & Consulting Group Oy (MIC Group), which is approximately one year old consulting firm, as a case study. The company was studied very carefully from the very beginning of its operations. Business plan of MIC Group was also studied in orde...

Amazon: Is Profitability a Possibility?

Directory of Open Access Journals (Sweden)

Brett DENNIS

2014-06-01

Full Text Available In today’s society, companies seem to all be following the same trend; growth in profitability at all cost. Higher profits, for the most part, leads to more investors and more potential financing. Amazon.com appears to be breaking that trend, however. Their strategy seems to be growth, but not in profits. We would like to look into how and why Amazon is growing at such a fast pace, while their profits are staying steady at a very low level. Is profitability a possibility for Amazon? We believe that a marginal increase in price could accomplish just that, with a minimal impact to consumers.

Evaluation of a binary optimization approach to find the optimum locations of energy storage devices in a power grid with stochastically varying loads and wind generation

Science.gov (United States)

Dar, Zamiyad

The prices in the electricity market change every five minutes. The prices in peak demand hours can be four or five times more than the prices in normal off peak hours. Renewable energy such as wind power has zero marginal cost and a large percentage of wind energy in a power grid can reduce the price significantly. The variability of wind power prevents it from being constantly available in peak hours. The price differentials between off-peak and on-peak hours due to wind power variations provide an opportunity for a storage device owner to buy energy at a low price and sell it in high price hours. In a large and complex power grid, there are many locations for installation of a storage device. Storage device owners prefer to install their device at locations that allow them to maximize profit. Market participants do not possess much information about the system operator's dispatch, power grid, competing generators and transmission system. The publicly available data from the system operator usually consists of Locational Marginal Prices (LMP), load, reserve prices and regulation prices. In this thesis, we develop a method to find the optimum location of a storage device without using the grid, transmission or generator data. We formulate and solve an optimization problem to find the most profitable location for a storage device using only the publicly available market pricing data such as LMPs, and reserve prices. We consider constraints arising due to storage device operation limitations in our objective function. We use binary optimization and branch and bound method to optimize the operation of a storage device at a given location to earn maximum profit. We use two different versions of our method and optimize the profitability of a storage unit at each location in a 36 bus model of north eastern United States and south eastern Canada for four representative days representing four seasons in a year. Finally, we compare our results from the two versions of our

An adaptive immune optimization algorithm with dynamic lattice searching operation for fast optimization of atomic clusters

International Nuclear Information System (INIS)

Wu, Xia; Wu, Genhua

2014-01-01

Highlights: • A high efficient method for optimization of atomic clusters is developed. • Its performance is studied by optimizing Lennard-Jones clusters and Ag clusters. • The method is proved to be quite efficient. • A new Ag 61 cluster with stacking-fault face-centered cubic motif is found. - Abstract: Geometrical optimization of atomic clusters is performed by a development of adaptive immune optimization algorithm (AIOA) with dynamic lattice searching (DLS) operation (AIOA-DLS method). By a cycle of construction and searching of the dynamic lattice (DL), DLS algorithm rapidly makes the clusters more regular and greatly reduces the potential energy. DLS can thus be used as an operation acting on the new individuals after mutation operation in AIOA to improve the performance of the AIOA. The AIOA-DLS method combines the merit of evolutionary algorithm and idea of dynamic lattice. The performance of the proposed method is investigated in the optimization of Lennard-Jones clusters within 250 atoms and silver clusters described by many-body Gupta potential within 150 atoms. Results reported in the literature are reproduced, and the motif of Ag 61 cluster is found to be stacking-fault face-centered cubic, whose energy is lower than that of previously obtained icosahedron

Merchant interconnector projects by generators in the EU: Profitability and allocation of capacity

International Nuclear Information System (INIS)

Koten, Silvester van

2012-01-01

When building a cross-border transmission line (a so-called interconnector) as a for-profit (merchant) project, where the regulator has required that capacity allocation be done non-discriminatorily by explicit auction, the identity of the investor can affect the profitability of the interconnector project and, once operational, the resulting allocation of its capacity. Specifically, when the investor is a generator (hereafter the integrated generator) who also can use the interconnector to export its electricity to a distant location, then, once operational, the integrated generator will bid more aggressively in the allocation auctions to increase the auction revenue and thus its profits. As a result, the integrated generator is more likely to win the auction and the capacity is sold for a higher price. This lowers the allocative efficiency of the auction, but it increases the expected ex-ante profitability of the merchant interconnector project. Unaffiliated, independent generators, however, are less likely to win the auction and, in any case, pay a higher price, which dramatically lowers their revenues from exporting electricity over this interconnector. - Highlights: ► A merchant interconnector owned by an electricity generator needs special attention of regulators. ► Even when allocation of the capacity is done by auctions, the generator will make a large profit. ► The generator will also decrease the allocation of capacity to competitors by bidding aggressively.

OPF-Based Optimal Location of Two Systems Two Terminal HVDC to Power System Optimal Operation

Directory of Open Access Journals (Sweden)

Mehdi Abolfazli

2013-04-01

Full Text Available In this paper a suitable mathematical model of the two terminal HVDC system is provided for optimal power flow (OPF and optimal location based on OPF such power injection model. The ability of voltage source converter (VSC-based HVDC to independently control active and reactive power is well represented by the model. The model is used to develop an OPF-based optimal location algorithm of two systems two terminal HVDC to minimize the total fuel cost and active power losses as objective function. The optimization framework is modeled as non-linear programming (NLP and solved by Matlab and GAMS softwares. The proposed algorithm is implemented on the IEEE 14- and 30-bus test systems. The simulation results show ability of two systems two terminal HVDC in improving the power system operation. Furthermore, two systems two terminal HVDC is compared by PST and OUPFC in the power system operation from economical and technical aspects.

Profit vs. Purpose

DEFF Research Database (Denmark)

Strand, Robert

2017-01-01

Money helps us meet our basic needs, but what about our need for meaning? Businesses will profit — not just financially — by finding their souls.......Money helps us meet our basic needs, but what about our need for meaning? Businesses will profit — not just financially — by finding their souls....

Effect of the accuracy of price forecasting on profit in a Price Based Unit Commitment

International Nuclear Information System (INIS)

Delarue, Erik; Van Den Bosch, Pieterjan; D'haeseleer, William

2010-01-01

This paper discusses and quantifies the so-called loss of profit (i.e., the sub-optimality of profit) that can be expected in a Price Based Unit Commitment (PBUC), when incorrect price forecasts are used. For this purpose, a PBUC model has been developed and utilized, using Mixed Integer Linear Programming (MILP). Simulations are used to determine the relationship between the Mean Absolute Percentage Error (MAPE) of a certain price forecast and the loss of profit, for four different types of power plants. A Combined Cycle (CC) power plant and a pumped storage unit show highest sensitivity to incorrect forecasts. A price forecast with a MAPE of 15%, on average, yields 13.8% and 12.1% profit loss, respectively. A classic thermal power plant (coal fired) and cascade hydro unit are less affected by incorrect forecasts, with only 2.4% and 2.0% profit loss, respectively, at the same price forecast MAPE. This paper further demonstrates that if price forecasts show an average bias (upward or downward), using the MAPE as measure of the price forecast might not be sufficient to quantify profit loss properly. Profit loss in this case has been determined as a function of both shift and MAPE of the price forecast. (author)

Sustainability is possible despite greed - Exploring the nexus between profitability and sustainability in common pool resource systems.

Science.gov (United States)

Osten, Friedrich Burkhard von der; Kirley, Michael; Miller, Tim

2017-05-23

The sustainable use of common pool resources has become a significant global challenge. It is now widely accepted that specific mechanisms such as community-based management strategies, institutional responses such as resource privatization, information availability and emergent social norms can be used to constrain individual 'harvesting' to socially optimal levels. However, there is a paucity of research focused specifically on aligning profitability and sustainability goals. In this paper, an integrated mathematical model of a common pool resource game is developed to explore the nexus between the underlying costs and benefits of harvesting decisions and the sustainable level of a shared, dynamic resource. We derive optimal harvesting efforts analytically and then use numerical simulations to show that individuals in a group can learn to make harvesting decisions that lead to the globally optimal levels. Individual agents make their decision based on signals received and a trade-off between economic and ecological sustainability. When the balance is weighted towards profitability, acceptable economic and social outcomes emerge. However, if individual agents are solely driven by profit, the shared resource is depleted in the long run - sustainability is possible despite some greed, but too much will lead to over-exploitation.

Civil society: beyond non profit / Sociedad civil: más allá del non profit

Directory of Open Access Journals (Sweden)

Miguel de Haro Serrano

2013-10-01

Full Text Available For a numerous group of recognized and proved authority authors, the Civil Society is limited to the Non Profit organizations. Non Profit is the great limit, the rigid and static border. The limes on the Roman Empire were less overwhelming than the non profit of certain academics. Dura lex and unfair law that keeps aside from the civil society scope the entities on the social economy and the whole market around mercantile enterprises and businesses. Nevertheless, the new changes in the today’s society and the new concept of businesses oriented to the society without forsaking the quest for economic profit, poses a Civil Society beyond non profit.

Virtual power plant mid-term dispatch optimization

International Nuclear Information System (INIS)

Pandžić, Hrvoje; Kuzle, Igor; Capuder, Tomislav

2013-01-01

Highlights: ► Mid-term virtual power plant dispatching. ► Linear modeling. ► Mixed-integer linear programming applied to mid-term dispatch scheduling. ► Operation profit maximization combining bilateral contracts and the day-ahead market. -- Abstract: Wind power plants incur practically zero marginal costs during their operation. However, variable and uncertain nature of wind results in significant problems when trying to satisfy the contracted quantities of delivered electricity. For this reason, wind power plants and other non-dispatchable power sources are combined with dispatchable power sources forming a virtual power plant. This paper considers a weekly self-scheduling of a virtual power plant composed of intermittent renewable sources, storage system and a conventional power plant. On the one hand, the virtual power plant needs to fulfill its long-term bilateral contracts, while, on the other hand, it acts in the market trying to maximize its overall profit. The optimal dispatch problem is formulated as a mixed-integer linear programming model which maximizes the weekly virtual power plant profit subject to the long-term bilateral contracts and technical constraints. The self-scheduling procedure is based on stochastic programming. The uncertainty of the wind power and solar power generation is settled by using pumped hydro storage in order to provide flexible operation, as well as by having a conventional power plant as a backup. The efficiency of the proposed model is rendered through a realistic case study and analysis of the results is provided. Additionally, the impact of different storage capacities and turbine/pump capacities of pumped storage are analyzed.

Optimal economic and environment operation of micro-grid power systems

International Nuclear Information System (INIS)

Elsied, Moataz; Oukaour, Amrane; Gualous, Hamid; Lo Brutto, Ottavio A.

2016-01-01

Highlights: • Real-time energy management system for Micro-Grid power systems is introduced. • The management system considered cost objective function and emission constraints. • The optimization problem is solved using Binary Particle Swarm Algorithm. • Advanced real-time interface libraries are used to run the optimization code. - Abstract: In this paper, an advanced real-time energy management system is proposed in order to optimize micro-grid performance in a real-time operation. The proposed strategy of the management system capitalizes on the power of binary particle swarm optimization algorithm to minimize the energy cost and carbon dioxide and pollutant emissions while maximizing the power of the available renewable energy resources. Advanced real-time interface libraries are used to run the optimization code. The simulation results are considered for three different scenarios considering the complexity of the proposed problem. The proposed management system along with its control system is experimentally tested to validate the simulation results obtained from the optimization algorithm. The experimental results highlight the effectiveness of the proposed management system for micro-grids operation.

Implementation of system dynamic simulation method to optimize profit in supply chain network of vegetable product

Science.gov (United States)

Tama, I. P.; Akbar, Z.; Eunike, A.

2018-04-01

Vegetables are categorized as a perishable product, which is a product with short lifespan thus requires proper handling and planning to reduce losses caused by the short lifespan. In order to reduce the losses, coordination among the players in the supply chain is required. On the other hand, the decision in the supply chain of vegetables and other farming products in the traditional market of developing country is independent among the players. This research is conducted by using System Dynamic Simulation method to develop model and scenario by coordinating the supply quantity amongst players in the supply chain. The scenarios are developed based on newsboy inventory model. This study aims to compare scenarios combining tiers involved in coordination program. The result shows that coordination in supply chain increases total supply chain profit, although there will always be players who experienced decrements in profit. The scenario of coordination among the farmer, the distributor, and the wholesaler resulted in the highest increase in total supply chain profit compared to other coordination scenarios, with an increased value of 10.49%.

PROFIT-MAXIMIZING PRINCIPLES, INSTRUCTIONAL UNITS FOR VOCATIONAL AGRICULTURE.

Science.gov (United States)

BARKER, RICHARD L.

THE PURPOSE OF THIS GUIDE IS TO ASSIST VOCATIONAL AGRICULTURE TEACHERS IN STIMULATING JUNIOR AND SENIOR HIGH SCHOOL STUDENT THINKING, UNDERSTANDING, AND DECISION MAKING AS ASSOCIATED WITH PROFIT-MAXIMIZING PRINCIPLES OF FARM OPERATION FOR USE IN FARM MANAGEMENT. IT WAS DEVELOPED UNDER A U.S. OFFICE OF EDUCATION GRANT BY TEACHER-EDUCATORS, A FARM…

Operating cycle optimization for a Magnus effect-based airborne wind energy system

International Nuclear Information System (INIS)

Milutinović, Milan; Čorić, Mirko; Deur, Joško

2015-01-01

Highlights: • Operating cycle of a Magnus effect-based AWE system has been optimized. • The cycle trajectory should be vertical and far from the ground based generator. • Vertical trajectory provides high pulling force that drives the generator. • Large distance from the generator is required for the feasibility of the cycle. - Abstract: The paper presents a control variables optimization study for an airborne wind energy production system. The system comprises an airborne module in the form of a buoyant, rotating cylinder, whose rotation in a wind stream induces the Magnus effect-based aerodynamic lift. Through a tether, the airborne module first drives the generator fixed on the ground, and then the generator becomes a motor that lowers the airborne module. The optimization is aimed at maximizing the average power produced at the generator during a continuously repeatable operating cycle. The control variables are the generator-side rope force and the cylinder rotation speed. The optimization is based on a multi-phase problem formulation, where operation is divided into ascending and descending phases, with free boundary conditions and free cycle duration. The presented simulation results show that significant power increase can be achieved by using the obtained optimal operating cycle instead of the initial, empirically based operation control strategy. A brief analysis is also given to provide a physical interpretation of the optimal cycle results

Profit-Sharing – A Tool for Improving Productivity, Profitability and Competitiveness of Firms?

Directory of Open Access Journals (Sweden)

Fibirova Jana

2013-12-01

Full Text Available The importance of appropriate utilization of rewards for performance is still growing and therefore this type of rewards can be seen as a significant part of a total rewards package. Companies that are able to appropriately implement rewards for performance may gain competitive advantage over their competitors, but successful implementation requires a good knowledge of these rewards. The main aim of this paper is to contribute to the growth of this knowledge by identifying possible positive and negative impacts of profit-sharing on various areas that are important for the performance of a company, nevertheless, addressed are also macroeconomic consequences of profit-sharing. Furthermore, a comprehensive and up-to-date review of the relevant literature is provided, under-researched areas are identified and suggestions for further research are given. To accomplish these goals, we applied methods of bibliometric analysis to the articles indexed in ISI Web of Knowledge to identify the most important articles, authors and topics. According to our findings, the majority of studies report a neutral or positive impact of profit-sharing on productivity and profitability. This impact may be achieved by direct influence of profit-sharing on productivity of employees (due to the dependence of their pay on profit, but it seems that yet more important are various mediating mechanisms, especially effects on employment stability, absenteeism, quits and related issues, as well as effects on attitudes of employees and on relationships between employees. We argue that a well-designed profit-sharing plan is crucial for its success, but it is a relatively under-researched problem.

Total quality management to improve gas plant profits

International Nuclear Information System (INIS)

Kovacs, K.; Wood, G.; Thompson, L.

1992-01-01

This paper describes the application of total quality management (TQM) techniques to the gas processing industry. It also assesses the profit potential for applying TQM in a typical plant situation. Companies utilizing TQM techniques will enjoy a competitive advantage. It represents a new way of doing business for the gas processing industry and incorporates many of Dr. W. Edwards Deming's methods which are often cited as one of the competitive advantages used by the Japanese. TQM can be described as a collection of systems or techniques that work toward two major objectives: To continuously improve the process or operation; and To view meeting the customer's needs as an important criterion for success. As applied to a typical U.S. gas processing operation, it involves several different techniques which are outlined in the paper. The benefits of TQM are detailed in this paper. All of these benefits go directly to a plant's bottom line profitability. The paper also describes ho to establish a program and identifies the factors necessary for successful implementation

Optimal DG placement in deregulated electricity market

International Nuclear Information System (INIS)

Gautam, Durga; Mithulananthan, Nadarajah

2007-01-01

This paper presents two new methodologies for optimal placement of distributed generation (DG) in an optimal power flow (OPF) based wholesale electricity market. DG is assumed to participate in real time wholesale electricity market. The problem of optimal placement, including size, is formulated for two different objectives, namely, social welfare maximization and profit maximization. The candidate locations for DG placement are identified on the basis of locational marginal price (LMP). Obtained as lagrangian multiplier associated with active power flow equation for each node, LMP gives the short run marginal cost (SRMC) of electricity. Consumer payment, evaluated as a product of LMP and load at each load bus, is proposed as another ranking to identify candidate nodes for DG placement. The proposed rankings bridges engineering aspects of system operation and economic aspects of market operation and act as good indicators for the placement of DG, especially in a market environment. In order to provide a scenario of variety of DGs available in the market, several cost characteristics are assumed. For each DG cost characteristic, an optimal placement and size is identified for each of the objectives. The proposed methodology is tested in a modified IEEE 14 bus test system. (author)

The impact of industry role players on the competitiveness and profitability of an entity in a volatile environment

Directory of Open Access Journals (Sweden)

MGS Muli

2014-01-01

Full Text Available In the face of numerous challenges that organisations encounter they cannot survive independently of the industry in which they operate. Constant interaction with industry role players and the ability to adapt and align organisational strategies to changes within the industry are instrumental to improved profitability. This study aimed to better understand the impact that industry role players have on their profitability and competitiveness in a volatile environment. Such an appreciation will assist organisations to continuously adapt their strategies to industry variations. The airline industry was selected because of its volatility that has seen a decline in the profitability of airlines operating worldwide; and Air Zimbabwe in particular because of the extreme macro and micro environmental forces under which it operates. Zimbabwean aviation industry employees' in current employ at Air Zimbabwe, employed by foreign airlines, travel agents, ground handling agents and aviation regulators were interviewed. The impact on competitiveness and profitability of six major industry role players (competitor airlines, suppliers, buyers, substitute products, new entrants and regulatory authorities in the airline industry was analysed. There was general consensus among respondents that industry role players strongly impact on both the profitability and competitiveness.

Professional Educator or Professional Manager? The Contested Role of the For-Profit International School Principal

Science.gov (United States)

Machin, Denry

2014-01-01

For-profit education is increasingly prevalent within international schooling. The language of client, customer and consumer may not yet be embedded in the classroom, but international school leaders, particularly those operating in for-profit contexts, are having to respond not only to the needs of educational stakeholders but also to the…

Optimizing integrated airport surface and terminal airspace operations under uncertainty

Science.gov (United States)

Bosson, Christabelle S.

In airports and surrounding terminal airspaces, the integration of surface, arrival and departure scheduling and routing have the potential to improve the operations efficiency. Moreover, because both the airport surface and the terminal airspace are often altered by random perturbations, the consideration of uncertainty in flight schedules is crucial to improve the design of robust flight schedules. Previous research mainly focused on independently solving arrival scheduling problems, departure scheduling problems and surface management scheduling problems and most of the developed models are deterministic. This dissertation presents an alternate method to model the integrated operations by using a machine job-shop scheduling formulation. A multistage stochastic programming approach is chosen to formulate the problem in the presence of uncertainty and candidate solutions are obtained by solving sample average approximation problems with finite sample size. The developed mixed-integer-linear-programming algorithm-based scheduler is capable of computing optimal aircraft schedules and routings that reflect the integration of air and ground operations. The assembled methodology is applied to a Los Angeles case study. To show the benefits of integrated operations over First-Come-First-Served, a preliminary proof-of-concept is conducted for a set of fourteen aircraft evolving under deterministic conditions in a model of the Los Angeles International Airport surface and surrounding terminal areas. Using historical data, a representative 30-minute traffic schedule and aircraft mix scenario is constructed. The results of the Los Angeles application show that the integration of air and ground operations and the use of a time-based separation strategy enable both significant surface and air time savings. The solution computed by the optimization provides a more efficient routing and scheduling than the First-Come-First-Served solution. Additionally, a data driven analysis is

The optimization of nuclear power plants operation modes in emergency situations

Science.gov (United States)

Zagrebayev, A. M.; Trifonenkov, A. V.; Ramazanov, R. N.

2018-01-01

An emergency situations resulting in the necessity for temporary reactor trip may occur at the nuclear power plant while normal operating mode. The paper deals with some of the operation c aspects of nuclear power plant operation in emergency situations and during threatened period. The xenon poisoning causes limitations on the variety of statements of the problem of calculating characteristics of a set of optimal reactor power off controls. The article show a possibility and feasibility of new sets of optimization tasks for the operation of nuclear power plants under conditions of xenon poisoning in emergency circumstances.

Windfalls and other profits

International Nuclear Information System (INIS)

Verbruggen, Aviel

2008-01-01

'Windfall profits' again is a popular term, but mostly the term is used inappropriately. This short article discusses why, and proposes a more complete taxonomy of profits. There exists little ground and need for policy to act against genuine windfalls, while the contrary holds for other excessive earnings. Very few windfalls, freely fallen down from winds in the sky, occur after observed excessive profits are stripped from deliberate man-made interventions. That is why clear identification and correct language are needed

Comparing two socially optimal work allocation rules when having a profit optimizing subcontractor with ample capacity

DEFF Research Database (Denmark)

Larsen, Christian

We study a service system modelled as a single server queueing system where requests for service either can be processed at the service system or by a subcontractor. In the former case the subcontractor is incurred waiting costs but the service is free, while in the latter case the customer must...... pay for the service but there is no waiting time, hence no waiting costs. Under the premises that the subcontractor prices his services in order to maximize his profit, we study two work allocation rules, which given the príce of the subcontractor seek to allocate work such that the costs...

Categories of Profit and Effectiveness of Business Activity in the System of Market Values

Directory of Open Access Journals (Sweden)

Niyazi Musa ogly Ismailov

2016-10-01

Full Text Available The article describes the approaches to the interpretation of economic categories “profit” and “effectiveness of business activity”, studies the essence and manifestations of these concepts in business that allows us to consider their place in the system of market valuables. Due to the necessity of a broader view of the success of the business, the author discussed the basic provisions of methodological individualism in the categories of economic theory of property rights. Disclosing them the author focuses on the characteristics which show the formation of operating results in achieving its ultimate goal. Details reveal a mixed situation in respect of the appointment of the rate of profit in modern conditions, the potential motives and incentives of human activity. A list of targeted economic outcomes correlates with the solved economic issues. For example, when you build and study the business model in the form of chains of forming and maintaining value the most appropriate terms that define the goal of firms are profitability, balance and optimality. In this article, the following results are obtained: 1 terminological analysis of targeted economic results, which are put in touch in an appropriate relationship to solve economic problem; 2 conclusion on the profit’s universality and absoluteness loss in direct characterization of business activity effectiveness.

Model-based plant-wide optimization of large-scale lignocellulosic bioethanol plants

DEFF Research Database (Denmark)

Prunescu, Remus Mihail; Blanke, Mogens; Jakobsen, Jon Geest

2017-01-01

Second generation biorefineries transform lignocellulosic biomass into chemicals with higher added value following a conversion mechanism that consists of: pretreatment, enzymatic hydrolysis, fermentation and purification. The objective of this study is to identify the optimal operational point...... with respect to maximum economic profit of a large scale biorefinery plant using a systematic model-based plantwide optimization methodology. The following key process parameters are identified as decision variables: pretreatment temperature, enzyme dosage in enzymatic hydrolysis, and yeast loading per batch...... in fermentation. The plant is treated in an integrated manner taking into account the interactions and trade-offs between the conversion steps. A sensitivity and uncertainty analysis follows at the optimal solution considering both model and feed parameters. It is found that the optimal point is more sensitive...

Numerical optimization of Combined Heat and Power Organic Rankine Cycles – Part A: Design optimization

International Nuclear Information System (INIS)

Martelli, Emanuele; Capra, Federico; Consonni, Stefano

2015-01-01

This two-part paper proposes an approach based on state-of-the-art numerical optimization methods for simultaneously determining the most profitable design and part-load operation of Combined Heat and Power Organic Rankine Cycles. Compared to the usual design practice, the important advantages of the proposed approach are (i) to consider the part-load performance of the ORC at the design stage, (ii) to optimize not only the cycle variables, but also the main turbine design variables (number of stages, stage loads, rotational speed). In this first part (Part A), the design model and the optimization algorithm are presented and tested on a real-world test case. PGS-COM, a recently proposed hybrid derivative-free algorithm, allows to efficiently tackle the challenging non-smooth black-box problem. - Highlights: • Algorithm for the simultaneous optimization Organic Rakine Cycle and turbine. • Thermodynamic and economic models of boiler, cycle, turbine are developed. • Non-smooth black-box optimization problem is successfully tackled with PGS-COM. • Test cases show that the algorithm returns optimal solutions within 4 min. • Toluene outperforms MDM (a siloxane) in terms of efficiency and costs.

Synergy optimization and operation management on syndicate complementary knowledge cooperation

Science.gov (United States)

Tu, Kai-Jan

2014-10-01

The number of multi enterprises knowledge cooperation has grown steadily, as a result of global innovation competitions. I have conducted research based on optimization and operation studies in this article, and gained the conclusion that synergy management is effective means to break through various management barriers and solve cooperation's chaotic systems. Enterprises must communicate system vision and access complementary knowledge. These are crucial considerations for enterprises to exert their optimization and operation knowledge cooperation synergy to meet global marketing challenges.

Optimal operation of hybrid-SITs under a SBO accident

International Nuclear Information System (INIS)

Jeon, In Seop; Heo, Sun; Kang, Hyun Gook

2016-01-01

Highlights: • Operation strategy of hybrid-SIT (H-SIT) in station blackout (SBO) is developed. • There are five main factors which have to be carefully treated in the development of the operation strategy. • Optimal value of each main factor is investigated analytically and then through thermal-hydraulic analysis using computer code. • The optimum operation strategy is suggested based on the optimal value of the main factors. - Abstract: A hybrid safety injection tank (H-SIT) is designed to enhance the capability of pressurized water reactors against high-pressure accidents which might be caused by the combined accidents accompanied by station blackout (SBO), and is suggested as a useful alternative to electricity-driven motor injection pumps. The main purpose of the H-SIT is to provide coolant to the core so that core safety can be maintained for a longer period. As H-SITs have a limited inventory, their efficient use in cooling down the core is paramount to maximize the available time for long-term cooling component restoration. Therefore, an optimum operation strategy must be developed to support the operators for the most efficient H-SIT use. In this study, the main factors which have to be carefully treated in the development of an operation strategy are first identified. Then the optimal value of each main factor is investigated analytically, a process useful to get the basis of the global optimum points. Based on these analytical optimum points, a thermal-hydraulic analysis using MARS code is performed to get more accurate values and to verify the results of the analytical study. The available time for long-term cooling component restoration is also estimated. Finally, an integrated optimum operation strategy for H-SITs in SBO is suggested.

Testing competing measures of profitability for mobile resources.

Science.gov (United States)

Barrette, Maryse; Wu, Gi-Mick; Brodeur, Jacques; Giraldeau, Luc-Alain; Boivin, Guy

2009-01-01

Optimal diet theory often fails to predict a forager's diet choice when prey are mobile. Because they escape or defend themselves, mobile prey are likely to increase the forager's handling time, thereby decreasing its fitness gain rate. Many animals have been shown to select their prey so as to maximize either their fitness gain or their fitness gain rate. However, no study has yet compared directly these two measures of profitability by generating testable predictions about the choice of the forager. Under laboratory conditions, we compared these two measures of profitability, using the aphid parasitoid Aphidius colemani and its host, Myzus persicae. Fitness gain was calculated for parasitoids developing in each host instar by measuring life-history traits such as developmental time, sex ratio and fecundity. Fitness gain rate was estimated by dividing fitness gain by handling time, the time required to subdue the host. Fourth instar aphids provided the best fitness gain to parasitoids, whereas second instar aphids were the most profitable in terms of fitness gain rate. Host choice tests showed that A. colemani females preferred second instar hosts, suggesting that their decision maximizes fitness gain rate over fitness gain. Our results indicate that fitness gain rate is a reliable predictor of animal's choice for foragers exploiting resources that impose additional time cost due to their mobility.

Profitables Food & Beverage Management

OpenAIRE

Studer, Adrian; Blatter, Martin; Glenz-Mounir, Chantal

2008-01-01

Die Diplomarbeit befasst sich mit dem Thema „Profitables Food & Beverage Management“, es geht darum, wie Restaurationsstätten, Beherbergungsbetriebe und Campingbetreiber ihren Umsatz innerhalb kürzester Zeit um 6 bis 8 % und den Gewinn um 8 bis 10 % steigern können. Grundlage für die Diplomarbeit ist das Buch „Profitables Food & Beverage Management“ von Urs Schaffer1 und die angebotenen Kurse von ritzy*2. Mit dem Buch und dem Module Profit Management auf dem ritzycampus3 haben die Wirte, Hote...

Data reconciliation and optimal operation of a Catalytic naphtha reformer

Directory of Open Access Journals (Sweden)

Tore Lid

2008-10-01

Full Text Available The naphtha reforming process converts low-octane gasoline blending components to high-octane components for use in high-performance gasoline fuels. The reformer also has an important function as the producer of hydrogen to the refinery hydrotreaters. A process model based on a unit model structure, is used for estimation of the process condition using data reconciliation. Measurements are classified as redundant or non redundant and the model variables are classified as observable, barely observable or unobservable. The computed uncertainty of the measured and unmeasured variables shows that even if a variable is observable it may have a very large uncertainty and may thereby be practically unobservable. The process condition at 21 data points, sampled from two years of operation, was reconciled and used to optimize the process operation. There are large seasonal variations in the reformer product price and two operational cases are studied. In case 1, the product price is high and throughput is maximized with respect to process and product quality constraints. In case 2, the product price is low and the throughput is minimized with respect to a low constraint on the hydrogen production. Based on the characteristics of the optimal operation, a "self optimizing" control structure is suggested for each of the two operational cases.

Optimized Skip-Stop Metro Line Operation Using Smart Card Data

Directory of Open Access Journals (Sweden)

Peitong Zhang

2017-01-01

Full Text Available Skip-stop operation is a low cost approach to improving the efficiency of metro operation and passenger travel experience. This paper proposes a novel method to optimize the skip-stop scheme for bidirectional metro lines so that the average passenger travel time can be minimized. Different from the conventional “A/B” scheme, the proposed Flexible Skip-Stop Scheme (FSSS can better accommodate spatially and temporally varied passenger demand. A genetic algorithm (GA based approach is then developed to efficiently search for the optimal solution. A case study is conducted based on a real world bidirectional metro line in Shenzhen, China, using the time-dependent passenger demand extracted from smart card data. It is found that the optimized skip-stop operation is able to reduce the average passenger travel time and transit agencies may benefit from this scheme due to energy and operational cost savings. Analyses are made to evaluate the effects of that fact that certain number of passengers fail to board the right train (due to skip operation. Results show that FSSS always outperforms the all-stop scheme even when most passengers of the skipped OD pairs are confused and cannot get on the right train.

On using an efficiency matrix in analysing profit per employee (on the basis of the Estonian SME software sector 

Directory of Open Access Journals (Sweden)

Paavo Siimann

2015-11-01

Full Text Available Service companies earn their profit mainly due to their employees’ intellectual skills, therefore, increasing profit per employee is one opportunity to increase profit and thereby also the company’s market value. In this article the number of employees, the value of owners’ equity and loan capital, operating expenses, net sales and profit before income tax have been used to analyse the change in profit per employee of the Estonian software small and medium-sized enterprise (SME sector in total, and for small and medium-sized companies separately in the years 2009–2013. Furthermore, this article demonstrates that the efficiency matrix methodology and its developments that were refined in Estonia and Russia from the 1960s to the 1990s can be deployed nowadays as well. Of all the components, profit margin and owners’ equity per employee showed the most rapid growth during the analysed period. Profit per employee was higher in the small enterprises segment and lowest among medium-sized enterprises, where owners’ equity per employee, net sales to operating expenses, and profit margin were lower than in small enterprises over the whole period analysed.

Economic Optimization of Spray Dryer Operation using Nonlinear Model Predictive Control with State Estimation

DEFF Research Database (Denmark)

Petersen, Lars Norbert; Jørgensen, John Bagterp; Rawlings, James B.

2015-01-01

In this paper, we develop an economically optimizing Nonlinear Model Predictive Controller (E-NMPC) for a complete spray drying plant with multiple stages. In the E-NMPC the initial state is estimated by an extended Kalman Filter (EKF) with noise covariances estimated by an autocovariance least...... squares method (ALS). We present a model for the spray drying plant and use this model for simulation as well as for prediction in the E-NMPC. The open-loop optimal control problem in the E-NMPC is solved using the single-shooting method combined with a quasi-Newton Sequential Quadratic programming (SQP......) algorithm and the adjoint method for computation of gradients. We evaluate the economic performance when unmeasured disturbances are present. By simulation, we demonstrate that the E-NMPC improves the profit of spray drying by 17% compared to conventional PI control....

Concrete Plant Operations Optimization Using Combined Simulation and Genetic Algorithms

NARCIS (Netherlands)

Cao, Ming; Lu, Ming; Zhang, Jian-Ping

2004-01-01

This work presents a new approach for concrete plant operations optimization by combining a ready mixed concrete (RMC) production simulation tool (called HKCONSIM) with a genetic algorithm (GA) based optimization procedure. A revamped HKCONSIM computer system can be used to automate the simulation

Fleet Planning Decision-Making: Two-Stage Optimization with Slot Purchase

Directory of Open Access Journals (Sweden)

Lay Eng Teoh

2016-01-01

Full Text Available Essentially, strategic fleet planning is vital for airlines to yield a higher profit margin while providing a desired service frequency to meet stochastic demand. In contrast to most studies that did not consider slot purchase which would affect the service frequency determination of airlines, this paper proposes a novel approach to solve the fleet planning problem subject to various operational constraints. A two-stage fleet planning model is formulated in which the first stage selects the individual operating route that requires slot purchase for network expansions while the second stage, in the form of probabilistic dynamic programming model, determines the quantity and type of aircraft (with the corresponding service frequency to meet the demand profitably. By analyzing an illustrative case study (with 38 international routes, the results show that the incorporation of slot purchase in fleet planning is beneficial to airlines in achieving economic and social sustainability. The developed model is practically viable for airlines not only to provide a better service quality (via a higher service frequency to meet more demand but also to obtain a higher revenue and profit margin, by making an optimal slot purchase and fleet planning decision throughout the long-term planning horizon.

Managing the effects of cultural diversity in HR in a non profit organization, Case organization: Moniheli

OpenAIRE

Irfan, Muhammad

2014-01-01

Non-profit organizations traditionally operate within limited resources. They cannot spend much of their resources to increase motivation. Especially when the bigger goal of the organization is to promote cultural diversity in society, it is very interesting to observe how a non-profit organization manages the cultural diversity that exists within its own human resources. This report is an attempt to identify the ways through which the case organization Moniheli, a non-profit network of diffe...

The effects of firm specific factors and macroeconomics on profitability of property-liability insurance industry in Taiwan

OpenAIRE

Chen-Ying Lee

2014-01-01

This article investigates the relationship between firm specific factors and macroeconomics on profitability in Taiwanese property-liability insurance industry using the panel data over the1999 through 2009 time period. Using operating ratio and return on assets (ROA) for the two kinds of profitability indicators to measure insurers’ profitability. The results show that underwriting risk, reinsurance usage, input cost, return on investment (ROI) and financial holding group have significant in...

Multiobjective Optimization Model for Pricing and Seat Allocation Problem in Non Profit Performing Arts Organization

DEFF Research Database (Denmark)

Baldin, Andrea; Bille, Trine; Ellero, Andrea

The implementation of Revenue Management (RM) techniques in non profit performing arts organizations presents new challenges compared to other sectors, such as transportion or hospitality industries, in which these techniques are more consolidated. Indeed, performing arts organizations are charac......The implementation of Revenue Management (RM) techniques in non profit performing arts organizations presents new challenges compared to other sectors, such as transportion or hospitality industries, in which these techniques are more consolidated. Indeed, performing arts organizations...... are characterized by a multi-objective function that is not solely limited to revenue. On the one hand, theatres aim to increase revenue from box office as a consequence of the systematic reduction of public funds; on the other hand they pursue the objective to increase its attendance. A common practice by theatres...

Optimal operation of cogeneration units. State of art and perspective

International Nuclear Information System (INIS)

Polimeni, S.

2001-01-01

Optimal operation of cogeneration plants and of power plant fueling waste products is a complex challenge as they have to fulfill, beyond the contractual obligation of electric power supply, the constraints of supplying the required thermal energy to the user (for cogeneration units) or to burn completely the by-products of the industrial complex where they are integrated. Electrical power market evolution is pushing such units to a more and more volatile operation caused by uncertain selling price levels. This work intends to pinpoint the state of art in the optimization of these units outlining the important differences among the different size and cycles. The effect of the market liberalization on the automation systems and the optimization algorithms will be discussed [it

Profitability primer: a guide to profitability analysis in the electric power industry

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd-Zannetti, D.; Martin, J.; Price, S.

1996-06-01

As the electric power industry is opened to forces of competition, increased attention must be focused to develop products and services that deliver good value to customers and to identify customer segments that are profitable to serve. This primer introduces the concept of profitability analysis and its application to the electric power industry. The primer recognizes that some segments of the business will remain monopolistic and subject to regulations, while other segments will become competitive. The primer also recognizes that customer profitability is critically dependent on a host of related issues such as how internal costs are allocated to various functions and how revenues are collected and allocated

Analysis of the financial factors governing the profitability of lunar helium-3

Science.gov (United States)

Kulcinski, G. L.; Thompson, H.; Ott, S.

1989-01-01

Financial factors influencing the profitability of the mining and utilization of lunar helium-3 are examined. The analysis addressed the following questions: (1) which financial factors have the greatest leverage on the profitability of He-3; (2) over what range can these factors be varied to keep the He-3 option profitable; and (3) what ultimate effect could this energy source have on the price of electricity for U.S. consumers. Two complementary methods of analysis were used in the assessment: rate of return on incremental investment required and reduction revenue requirements (total cost to customers) achieved. Some of the factors addressed include energy demand, power generation costs with and without fusion, profitability for D-He(3) fusion, annual capital and operating costs, launch mass and costs, He-3 price, and government funding. Specific conclusions are made with respect to each of the companies considered: utilities, lunar mining company, and integrated energy company.

Nickel-Cadmium Battery Operation Management Optimization Using Robust Design

Science.gov (United States)

Blosiu, Julian O.; Deligiannis, Frank; DiStefano, Salvador

1996-01-01

In recent years following several spacecraft battery anomalies, it was determined that managing the operational factors of NASA flight NiCd rechargeable battery was very important in order to maintain space flight battery nominal performance. The optimization of existing flight battery operational performance was viewed as something new for a Taguchi Methods application.

Neuro-optimal operation of a variable air volume HVAC and R system

International Nuclear Information System (INIS)

Ning Min; Zaheeruddin, M.

2010-01-01

Low operational efficiency especially under partial load conditions and poor control are some reasons for high energy consumption of heating, ventilation, air conditioning and refrigeration (HVAC and R) systems. To improve energy efficiency, HVAC and R systems should be efficiently operated to maintain a desired indoor environment under dynamic ambient and indoor conditions. This study proposes a neural network based optimal supervisory operation strategy to find the optimal set points for chilled water supply temperature, discharge air temperature and VAV system fan static pressure such that the indoor environment is maintained with the least chiller and fan energy consumption. To achieve this objective, a dynamic system model is developed first to simulate the system behavior under different control schemes and operating conditions. A multi-layer feed forward neural network is constructed and trained in unsupervised mode to minimize the cost function which is comprised of overall energy cost and penalty cost when one or more constraints are violated. After training, the network is implemented as a supervisory controller to compute the optimal settings for the system. Simulation results show that compared to the conventional night reset operation scheme, the optimal operation scheme saves around 10% energy under full load condition and 19% energy under partial load conditions.

Regenerative agriculture: merging farming and natural resource conservation profitably.

Science.gov (United States)

LaCanne, Claire E; Lundgren, Jonathan G

2018-01-01

Most cropland in the United States is characterized by large monocultures, whose productivity is maintained through a strong reliance on costly tillage, external fertilizers, and pesticides (Schipanski et al., 2016). Despite this, farmers have developed a regenerative model of farm production that promotes soil health and biodiversity, while producing nutrient-dense farm products profitably. Little work has focused on the relative costs and benefits of novel regenerative farming operations, which necessitates studying in situ , farmer-defined best management practices. Here, we evaluate the relative effects of regenerative and conventional corn production systems on pest management services, soil conservation, and farmer profitability and productivity throughout the Northern Plains of the United States. Regenerative farming systems provided greater ecosystem services and profitability for farmers than an input-intensive model of corn production. Pests were 10-fold more abundant in insecticide-treated corn fields than on insecticide-free regenerative farms, indicating that farmers who proactively design pest-resilient food systems outperform farmers that react to pests chemically. Regenerative fields had 29% lower grain production but 78% higher profits over traditional corn production systems. Profit was positively correlated with the particulate organic matter of the soil, not yield. These results provide the basis for dialogue on ecologically based farming systems that could be used to simultaneously produce food while conserving our natural resource base: two factors that are pitted against one another in simplified food production systems. To attain this requires a systems-level shift on the farm; simply applying individual regenerative practices within the current production model will not likely produce the documented results.

Optimal Time to Invest Energy Storage System under Uncertainty Conditions

Directory of Open Access Journals (Sweden)

Yongma Moon

2014-04-01

Full Text Available This paper proposes a model to determine the optimal investment time for energy storage systems (ESSs in a price arbitrage trade application under conditions of uncertainty over future profits. The adoption of ESSs can generate profits from price arbitrage trade, which are uncertain because the future marginal prices of electricity will change depending on supply and demand. In addition, since the investment is optional, an investor can delay adopting an ESS until it becomes profitable, and can decide the optimal time. Thus, when we evaluate this investment, we need to incorporate the investor’s option which is not captured by traditional evaluation methods. In order to incorporate these aspects, we applied real option theory to our proposed model, which provides an optimal investment threshold. Our results concerning the optimal time to invest show that if future profits that are expected to be obtained from arbitrage trade become more uncertain, an investor needs to wait longer to invest. Also, improvement in efficiency of ESSs can reduce the uncertainty of arbitrage profit and, consequently, the reduced uncertainty enables earlier ESS investment, even for the same power capacity. Besides, when a higher rate of profits is expected and ESS costs are higher, an investor needs to wait longer. Also, by comparing a widely used net present value model to our real option model, we show that the net present value method underestimates the value for ESS investment and misleads the investor to make an investment earlier.

Profit enhancement by a set of performance and robustness indices based design of dual-dimensional PODC and PSS2B in smart grids

International Nuclear Information System (INIS)

Shayeghi, H.; Hashemi, Y.

2014-01-01

Highlights: • Design based on a set of performance and robustness criteria can increase profit. • Time delay as uncertainty in smart grid decrease profit. • Design method applied in this paper deal with large structure of controllers. • INSGA-II optimization and FDM method is applied to specify the best solution. - Abstract: Expansion of power systems is accompanied by innovations in smart grid solutions to power system operation and control. Profit enhancement by power oscillation damping controllers (PODC) and acceleration based power system stabilizer (PSS), model PSS2B, designed by the idea of pseudo-spectra based on multi-objective optimization is presented. The contribution of multi-objective functions in respect of performance and robustness criteria in stability enhancement is evaluated by considering the control actions of PODC and PSS2B as an ancillary service (AS). The robustness requirement is achieved by using the idea of pseudo-spectra to handle the changes of power system parameters and time delay introduced by processing of remote signals in the wide-area supplementary damping controller (WASDC). The weighted sum of six objective functions as performance and robustness criteria is selected as low-frequency oscillation damping index (LFODI). Two scenarios for the evaluation of small signal stability as an AS provided by PODC and PSS2B are considered. A multi-objective optimization approach based on LFODI, generation costs is formulated and improved non-dominated sorting genetic algorithm-II (INSGA-II) is employed to solve this problem. Fuzzy decision making (FDM) is used to find the best compromise solution from the set of Pareto-solution obtained by INSGA-II. Comparative analysis of the results of the conventional method and the proposed design method is presented by case study on a modified 2-area 4-machine power system

Performance analysis of PV plants: Optimization for improving profitability

International Nuclear Information System (INIS)

Díez-Mediavilla, M.; Alonso-Tristán, C.; Rodríguez-Amigo, M.C.; García-Calderón, T.; Dieste-Velasco, M.I.

2012-01-01

Highlights: ► Real PV production from two 100 kW p grid-connected installations is conducted. ► Data sets on production were collected over an entire year. ► Economic results highlight the importance of properly selecting the system components. ► Performance of PV plants is directly related to improvements of all components. - Abstract: A study is conducted of real PV production from two 100 kW p grid-connected installations located in the same area, both of which experience the same fluctuations in temperature and radiation. Data sets on production were collected over an entire year and both installations were compared under various levels of radiation. The installations were assembled with mono-Si panels, mounted on the same support system, and the power supply was equal for the inverter and the measurement system; the same parameters were also employed for the wiring, and electrical losses were calculated in both cases. The results, in economic terms, highlight the importance of properly selecting the system components and the design parameters for maximum profitability.

26 CFR 1.959-3 - Allocation of distributions to earnings and profits of foreign corporations.

Science.gov (United States)

2010-04-01

... profits taxes imposed on or with respect to such distribution by any foreign country or possession of the..., after incurring $10 of foreign income tax allocable to such income under paragraph (c) of § 1.954-1, has... has earnings and profits of $300, consisting of operating income of $100 for each of the years 1963...

Comparing two socially optimal work allocation rules when having a profit optimizing subcontractor with ample capacity

DEFF Research Database (Denmark)

Larsen, Christian

2005-01-01

We study a service system modelled as a single server queuing system where request for service either can be processed at the service system or by a subcontractor. In the former case the customer is incurred waiting costs but the service is free, while in the latter case the customer must pay...... for the service but there is no waiting time, hence no waiting costs. Under the premises that the subcontractor prices his services in order to maximize his profit, we study two work allocation rules, which given the price of subcontractor seek to allocate work such that the costs of the customers are minimized...

Comparing two socially optimal work allocation rules when having a profit optimizing subcontractor with ample capacity

DEFF Research Database (Denmark)

Larsen, Christian

2003-01-01

We study a service system modelled as a single server queueing system where request for service either can be processed at the service system or by a subcontractor. In the former case the customer is incurred waiting costs but the service is free, while in the latter case the customer must pay...... for the service but there is no waiting time, hence no waiting costs. Under the premises that the subcontractor prices his services in order to maximize his profit, we study two work allocation rules, which given the price of the subcontractor seek to allocate work such that the costs of the customers...

Short-term optimal operation of Three-gorge and Gezhouba cascade hydropower stations in non-flood season with operation rules from data mining

International Nuclear Information System (INIS)

Ma Chao; Lian Jijian; Wang Junna

2013-01-01

Highlights: ► Short-term optimal operation of Three-gorge and Gezhouba hydropower stations was studied. ► Key state variable and exact constraints were proposed to improve numerical model. ► Operation rules proposed were applied in population initiation step for faster optimization. ► Culture algorithm with difference evolution was selected as optimization method. ► Model and method proposed were verified by case study with feasible operation solutions. - Abstract: Information hidden in the characteristics and relationship data of a cascade hydropower stations can be extracted by data-mining approaches to be operation rules and optimization support information. In this paper, with Three-gorge and Gezhouba cascade hydropower stations as an example, two operation rules are proposed due to different operation efficiency of water turbines and tight water volume and hydraulic relationship between two hydropower stations. The rules are applied to improve optimization model with more exact decision and state variables and constraints. They are also used in the population initiation step to develop better individuals with culture algorithm with differential evolution as an optimization method. In the case study, total feasible population and the best solution based on an initial population with an operation rule can be obtained with a shorter computation time than that of a pure random initiated population. Amount of electricity generation in a dispatch period with an operation rule also increases with an average increase rate of 0.025%. For a fixed water discharge process of Three-gorge hydropower station, there is a better rule to decide an operation plan of Gezhouba hydropower station in which total hydraulic head for electricity generation is optimized and distributed with inner-plant economic operation considered.

Measuring Customer Profitability in Complex Environments

DEFF Research Database (Denmark)

Holm, Morten; Kumar, V.; Rohde, Carsten

2012-01-01

Customer profitability measurement is an important element in customer relationship management and a lever for enhanced marketing accountability. Two distinct measurement approaches have emerged in the marketing literature: Customer Lifetime Value (CLV) and Customer Profitability Analysis (CPA...... propositions. Additionally, the framework provides design and implementation guidance for managers seeking to implement customer profitability measurement models for resource allocation purposes....... that the degree of sophistication deployed when implementing customer profitability measurement models is determined by the type of complexity encountered in firms’ customer environments. This gives rise to a contingency framework for customer profitability measurement model selection and five research...

Quo vadis code optimization in high energy physics

International Nuclear Information System (INIS)

Jarp, S.

1994-01-01

Although performance tuning and optimization can be considered less critical than in the past, there are still many High Energy Physics (HEP) applications and application domains that can profit from such an undertaking. In CERN's CORE (Centrally Operated RISC Environment) where all major RISC vendors are present, this implies an understanding of the various computer architectures, instruction sets and performance analysis tools from each of these vendors. This paper discusses some initial observations after having evaluated the situation and makes some recommendations for further progress

Optimizing capital and time expenditures for drilling service operations

Energy Technology Data Exchange (ETDEWEB)

Zazovskiy, F Ya; Soltysyak, T I

1980-01-01

The operational efficiency of drilling services operations management are examined. The structure of time expenditure is analyzed for repair operations according to equipment type employed by the Ivano-Frankovsk Drilling Management under the Ukrneft' enterprise during 1977. The results of this analysis are weighed against a series of service operations carried out at industrial enterprises and connected with technical disruptions. Some of the cases examined include service competion operations outside of the industrial units when technical processes are disrupted only for the change of equipment which has outlived its usefulness and is no longer in series production. First of all, time expended for repair work can be reduced to zero during the drilling of shallow wells which do not require extensive drilling time. The actual savings, both in time and money, as far as repair work is concerned, hinges on the actual time factor for total oil depetion. An equation is provided for optimal time expenditure necessary for repair work and equipment replacement. An actual example is given from the Dolinsk UBR (Drillin Management) under the Ukrneft' enterprise where time spent on actual service operations has appeared to be less than the optimal figure cited in the above material. This is possible because of increased capital expenditures.

Profitability analysis in the hospital industry.

Science.gov (United States)

Cleverley, W O

1978-01-01

Measures of marginal profit are derived for the two payment classes--cost payers and charge payers--that the hospital industry must consider in profitability analysis, i.e., prediction of the excess of revenue over expenses. Two indexes of profitability, use when payment mix is constant and when it is nonconstant, respectively, are derived from the two marginal profit measures, and one of them is shown to be a modification of the contribution margin, the conventional measure of profitability used in general industry. All three measures--the contribution margin and the two new indexes of profitability--are used to estimate changes in net income resulting from changes in patient volume with and without accompanying changes in payment mix. The conventional measure yields large overestimates of expected excess revenue. PMID:632101

OPTIMIZATION OF AGGREGATION AND SEQUENTIAL-PARALLEL EXECUTION MODES OF INTERSECTING OPERATION SETS

Directory of Open Access Journals (Sweden)

G. М. Levin

2016-01-01

Full Text Available A mathematical model and a method for the problem of optimization of aggregation and of sequential- parallel execution modes of intersecting operation sets are proposed. The proposed method is based on the two-level decomposition scheme. At the top level the variant of aggregation for groups of operations is selected, and at the lower level the execution modes of operations are optimized for a fixed version of aggregation.

Operation of Modern Distribution Power Systems in Competitive Electricity Markets

DEFF Research Database (Denmark)

Hu, Weihao

, DG units, loads and electricity price are studied. Further, the effect of energy storage systems will be considered, and an optimal operation strategy for energy storage devices in a large scale wind power system in the electricity market is proposed. The western Danish power system, which has large...... strategy for trading wind power in the Danish short-term electricity market in order to minimize the imbalance costs for regulation. A load optimization method based on spot price for demand side management in Denmark is proposed in order to save the energy costs for 3 types of typical Danish consumers...... maximum profit of the BESS is proposed. Two kinds of BESS, based on polysulfide-bromine (PSB) and vanadium redox (VRB) battery technologies, are studied. Optimal operation strategies of PEV in the spot market are then proposed in order to decrease the energy cost for PEV owners. Furthermore...

Estimating Profit Efficiency of Artisanal Fishing in the Pru District of the Brong-Ahafo Region, Ghana

Directory of Open Access Journals (Sweden)

Edinam Dope Setsoafia

2017-01-01

Full Text Available This study evaluated the profit efficiency of artisanal fishing in the Pru District of Ghana by explicitly computing profit efficiency level, identifying the sources of profit inefficiency, and examining the constraints of artisanal fisheries. Cross-sectional data was obtained from 120 small-scale fishing households using semistructured questionnaire. The stochastic profit frontier model was used to compute profit efficiency level and identify the determinants of profit inefficiency while Garrett ranking technique was used to rank the constraints. The average profit efficiency level was 81.66% which implies that about 82% of the prospective maximum profit was gained due to production efficiency. That is, only 18% of the potential profit was lost due to the fishers’ inefficiency. Also, the age of the household head and household size increase the inefficiency level while experience in artisanal fishing tends to decrease the inefficiency level. From the Garrett ranking, access to credit facility to fully operate the small-scale fishing business was ranked as the most pressing issue followed by unstable prices while perishability was ranked last among the constraints. The study, therefore, recommends that group formation should be encouraged to enable easy access to loans and contract sales to boost profitability.

Off-Policy Reinforcement Learning: Optimal Operational Control for Two-Time-Scale Industrial Processes.

Science.gov (United States)

Li, Jinna; Kiumarsi, Bahare; Chai, Tianyou; Lewis, Frank L; Fan, Jialu

2017-12-01

Industrial flow lines are composed of unit processes operating on a fast time scale and performance measurements known as operational indices measured at a slower time scale. This paper presents a model-free optimal solution to a class of two time-scale industrial processes using off-policy reinforcement learning (RL). First, the lower-layer unit process control loop with a fast sampling period and the upper-layer operational index dynamics at a slow time scale are modeled. Second, a general optimal operational control problem is formulated to optimally prescribe the set-points for the unit industrial process. Then, a zero-sum game off-policy RL algorithm is developed to find the optimal set-points by using data measured in real-time. Finally, a simulation experiment is employed for an industrial flotation process to show the effectiveness of the proposed method.

Atlantic Basin refining profitability

International Nuclear Information System (INIS)

Jones, R.J.

1998-01-01

A review of the profitability margins of oil refining in the Atlantic Basin was presented. Petroleum refiners face the continuous challenge of balancing supply with demand. It would appear that the profitability margins in the Atlantic Basin will increase significantly in the near future because of shrinking supply surpluses. Refinery capacity utilization has reached higher levels than ever before. The American Petroleum Institute reported that in August 1997, U.S. refineries used 99 per cent of their capacity for several weeks in a row. U.S. gasoline inventories have also declined as the industry has focused on reducing capital costs. This is further evidence that supply and demand are tightly balanced. Some of the reasons for tightening supplies were reviewed. It was predicted that U.S. gasoline demand will continue to grow in the near future. Gasoline demand has not declined as expected because new vehicles are not any more fuel efficient today than they were a decade ago. Although federally-mandated fuel efficiency standards were designed to lower gasoline consumption, they may actually have prevented consumption from falling. Atlantic margins were predicted to continue moving up because of the supply and demand evidence: high capacity utilization rates, low operating inventories, limited capacity addition resulting from lower capital spending, continued U.S. gasoline demand growth, and steady total oil demand growth. 11 figs

System and method of cylinder deactivation for optimal engine torque-speed map operation

Science.gov (United States)

Sujan, Vivek A; Frazier, Timothy R; Follen, Kenneth; Moon, Suk-Min

2014-11-11

This disclosure provides a system and method for determining cylinder deactivation in a vehicle engine to optimize fuel consumption while providing the desired or demanded power. In one aspect, data indicative of terrain variation is utilized in determining a vehicle target operating state. An optimal active cylinder distribution and corresponding fueling is determined from a recommendation from a supervisory agent monitoring the operating state of the vehicle of a subset of the total number of cylinders, and a determination as to which number of cylinders provides the optimal fuel consumption. Once the optimal cylinder number is determined, a transmission gear shift recommendation is provided in view of the determined active cylinder distribution and target operating state.

Analysis of Optimal Operation of an Energy Integrated Distillation Plant

DEFF Research Database (Denmark)

Li, Hong Wen; Hansen, C.A.; Gani, Rafiqul

2003-01-01

The efficiency of manufacturing systems can be significantly increased through diligent application of control based on mathematical models thereby enabling more tight integration of decision making with systems operation. In the present paper analysis of optimal operation of an energy integrated...

Positive-operator-valued measure optimization of classical correlations

NARCIS (Netherlands)

Hamieh, S; Kobes, R; Zaraket, H

We study the problem of optimization over positive-operator-valued measures to extract classical correlation in a bipartite quantum system. The proposed method is applied to binary states only. Moreover, to illustrate this method, an explicit example is studied in detail.

Prompt nuclear coal analysis ups profits

International Nuclear Information System (INIS)

Barker, D.

1982-01-01

To maximise profitability it is essential that products should comply with specification, while ensuring that mining procedures are designed to optimise fully the exploitation of coal reserves. For the producer to realise maximum profits, it is necessary to produce a consistently satisfactory product, while utilising the lowest possible quality of reserves. For the potential need for on-stream analysis, a comprehensive research program, produced several unique systems. The Nucoalyzer CONAC has been developed to analyse continuously a coal sample stream of up to 13 t/h. On-stream analysis is also particularly appropriate as a means of controlling a coal beneficiation plant, especially where coal have a high middling content. Major coal users such as thermal power stations and Synfuel processes can also realise substantial economic benefits through the use of on-stream analysis. On-stream analysis can again significantly reduce operating costs, as it offers the possibility of controlling the level of sulphur in the coal feed. The analytical principle employed in the various Nucoalyzer system is based on Prompt Neutron Activation Analysis

Determination of optimum values for maximizing the profit in bread production: Daily bakery Sdn Bhd

Science.gov (United States)

Muda, Nora; Sim, Raymond

2015-02-01

An integer programming problem is a mathematical optimization or feasibility program in which some or all of the variables are restricted to be integers. In many settings the term refers to integer linear programming (ILP), in which the objective function and the constraints (other than the integer constraints) are linear. An ILP has many applications in industrial production, including job-shop modelling. A possible objective is to maximize the total production, without exceeding the available resources. In some cases, this can be expressed in terms of a linear program, but variables must be constrained to be integer. It concerned with the optimization of a linear function while satisfying a set of linear equality and inequality constraints and restrictions. It has been used to solve optimization problem in many industries area such as banking, nutrition, agriculture, and bakery and so on. The main purpose of this study is to formulate the best combination of all ingredients in producing different type of bread in Daily Bakery in order to gain maximum profit. This study also focuses on the sensitivity analysis due to changing of the profit and the cost of each ingredient. The optimum result obtained from QM software is RM 65,377.29 per day. This study will be benefited for Daily Bakery and also other similar industries. By formulating a combination of all ingredients make up, they can easily know their total profit in producing bread everyday.

Simulation-optimization model of reservoir operation based on target storage curves

Directory of Open Access Journals (Sweden)

Hong-bin Fang

2014-10-01

Full Text Available This paper proposes a new storage allocation rule based on target storage curves. Joint operating rules are also proposed to solve the operation problems of a multi-reservoir system with joint demands and water transfer-supply projects. The joint operating rules include a water diversion rule to determine the amount of diverted water in a period, a hedging rule based on an aggregated reservoir to determine the total release from the system, and a storage allocation rule to specify the release from each reservoir. A simulation-optimization model was established to optimize the key points of the water diversion curves, the hedging rule curves, and the target storage curves using the improved particle swarm optimization (IPSO algorithm. The multi-reservoir water supply system located in Liaoning Province, China, including a water transfer-supply project, was employed as a case study to verify the effectiveness of the proposed join operating rules and target storage curves. The results indicate that the proposed operating rules are suitable for the complex system. The storage allocation rule based on target storage curves shows an improved performance with regard to system storage distribution.

La maximisation du taux de profit

OpenAIRE

De Mesnard, Louis

1991-01-01

On the traditional micro-economic theory, firms are supposed to maximise pure profit. We study what happened when we take into consideration shareholders and the financial profit remunerating the financial capital. We show that it is necessary to surrender the financial profit maximisation to use the rate of financial profit maximisation. The cases of concurrence with fix coefficient of capital, monopoly with fix coefficient of capital, monopoly with variable coefficient of capital are studie...

Effect of Black Economic Empowerment on profit and competitiveness of firms in South Africa

Directory of Open Access Journals (Sweden)

Ewert P.J. Kleynhans

2014-07-01

Full Text Available Orientation: The key obstacle hindering optimal profitability levels and competitiveness in firms in South Africa is the application of labour legislation policies and tools aimed at narrowing the income gap between different racial groups and resolving inequality amongst a diverse workforce. Research purpose: This article determined whether the implementation of a Black Economic Empowerment (BEE policy by companies has a positive effect on their growth in terms of profits and competitiveness. Motivation for the study: This study determined whether the implementation of BEE could be profitable for companies. Research design, approach and method: A quantitative study was undertaken in order to find empirical evidence supporting the relation between high BEE Scores, profitability and competitiveness. The empirical investigation utilised regression analysis, correlations and other methods, based on data between January 2009 and December 2011. The BEE Scorecard was used to obtain BEE scores of the top 50 BEE companies. Thereafter, the top 50 companies’ financial information was gathered from the Johannesburg Securities Exchange. Main findings: The implementation of BEE within companies has a positive effect on profitability, turnover and investment. Numerous factors have, however, been hindering,while other factors enhanced the success of BEE. Practical/managerial implications: The findings encourage mangers to engage in BEE as it may facilitate higher profits and indicates where labour legislation could be improved. Contribution/value-add: Value was added through new research determining the effects of BEE and labour legislation on profitability and competitiveness of firms on a micro-level.

Optimal pricing and replenishment policies for instantaneous deteriorating items with backlogging and trade credit under inflation

Science.gov (United States)

Sundara Rajan, R.; Uthayakumar, R.

2017-12-01

In this paper we develop an economic order quantity model to investigate the optimal replenishment policies for instantaneous deteriorating items under inflation and trade credit. Demand rate is a linear function of selling price and decreases negative exponentially with time over a finite planning horizon. Shortages are allowed and partially backlogged. Under these conditions, we model the retailer's inventory system as a profit maximization problem to determine the optimal selling price, optimal order quantity and optimal replenishment time. An easy-to-use algorithm is developed to determine the optimal replenishment policies for the retailer. We also provide optimal present value of profit when shortages are completely backlogged as a special case. Numerical examples are presented to illustrate the algorithm provided to obtain optimal profit. And we also obtain managerial implications from numerical examples to substantiate our model. The results show that there is an improvement in total profit from complete backlogging rather than the items being partially backlogged.

Personnel Policy and Profit

DEFF Research Database (Denmark)

Bingley, Paul; Westergård-Nielsen, Niels Chr.

2004-01-01

personnel structure variation. It is found that personnel policy is strongly related to economic performance. At the margin, more hires are associated with lower profit, and more separations with higher profit. For the average firm, one new job, all else equal, is associated with ?2680 (2000 prices) lower...

Combining purpose with profits

NARCIS (Netherlands)

Birkinshaw, J.; Foss, N.J.; Lindenberg, S.M.

2014-01-01

Is it possible for a company to strive for a higher purpose while also delivering solid profits? Some have argued that pursuing goals other than making money means, by definition, spending on things that aren't profit-maximizing. Others have countered that by investing in worthwhile causes the

A robust optimization based approach for microgrid operation in deregulated environment

International Nuclear Information System (INIS)

Gupta, R.A.; Gupta, Nand Kishor

2015-01-01

Highlights: • RO based approach developed for optimal MG operation in deregulated environment. • Wind uncertainty modeled by interval forecasting through ARIMA model. • Proposed approach evaluated using two realistic case studies. • Proposed approach evaluated the impact of degree of robustness. • Proposed approach gives a significant reduction in operation cost of microgrid. - Abstract: Micro Grids (MGs) are clusters of Distributed Energy Resource (DER) units and loads. MGs are self-sustainable and generally operated in two modes: (1) grid connected and (2) grid isolated. In deregulated environment, the operation of MG is managed by the Microgrid Operator (MO) with an objective to minimize the total cost of operation. The MG management is crucial in the deregulated power system due to (i) integration of intermittent renewable sources such as wind and Photo Voltaic (PV) generation, and (ii) volatile grid prices. This paper presents robust optimization based approach for optimal MG management considering wind power uncertainty. Time series based Autoregressive Integrated Moving Average (ARIMA) model is used to characterize the wind power uncertainty through interval forecasting. The proposed approach is illustrated through a case study having both dispatchable and non-dispatchable generators through different modes of operation. Further the impact of degree of robustness is analyzed in both cases on the total cost of operation of the MG. A comparative analysis between obtained results using proposed approach and other existing approach shows the strength of proposed approach in cost minimization in MG management

An implementation of particle swarm optimization to evaluate optimal under-voltage load shedding in competitive electricity markets

Science.gov (United States)

Hosseini-Bioki, M. M.; Rashidinejad, M.; Abdollahi, A.

2013-11-01

Load shedding is a crucial issue in power systems especially under restructured electricity environment. Market-driven load shedding in reregulated power systems associated with security as well as reliability is investigated in this paper. A technoeconomic multi-objective function is introduced to reveal an optimal load shedding scheme considering maximum social welfare. The proposed optimization problem includes maximum GENCOs and loads' profits as well as maximum loadability limit under normal and contingency conditions. Particle swarm optimization (PSO) as a heuristic optimization technique, is utilized to find an optimal load shedding scheme. In a market-driven structure, generators offer their bidding blocks while the dispatchable loads will bid their price-responsive demands. An independent system operator (ISO) derives a market clearing price (MCP) while rescheduling the amount of generating power in both pre-contingency and post-contingency conditions. The proposed methodology is developed on a 3-bus system and then is applied to a modified IEEE 30-bus test system. The obtained results show the effectiveness of the proposed methodology in implementing the optimal load shedding satisfying social welfare by maintaining voltage stability margin (VSM) through technoeconomic analyses.

Optimal Guaranteed Service Time and Service Level Decision with Time and Service Level Sensitive Demand

Directory of Open Access Journals (Sweden)

Sangjun Park

2014-01-01

Full Text Available We consider a two-stage supply chain with one supplier and one retailer. The retailer sells a product to customer and the supplier provides a product in a make-to-order mode. In this case, the supplier’s decisions on service time and service level and the retailer’s decision on retail price have effects on customer demand. We develop optimization models to determine the optimal retail price, the optimal guaranteed service time, the optimal service level, and the optimal capacity to maximize the expected profit of the whole supply chain. The results of numerical experiments show that it is more profitable to determine the optimal price, the optimal guaranteed service time, and the optimal service level simultaneously and the proposed model is more profitable in service level sensitive market.

Optimization Methods in Operations Research and Systems Analysis

Indian Academy of Sciences (India)

Home; Journals; Resonance – Journal of Science Education; Volume 2; Issue 6. Optimization Methods in Operations Research and Systems Analysis. V G Tikekar. Book Review Volume 2 Issue 6 June 1997 pp 91-92. Fulltext. Click here to view fulltext PDF. Permanent link:

Profitability analysis of KINGLONG nearly 5 years

Science.gov (United States)

Zhang, Mei; Wen, Jinghua

2017-08-01

Profitability analysis for measuring business performance and forecast its prospects play an important role. In this paper, the research instance King Long Motor in understanding the basic theory on the basis of financial management, to take a combination of theory and data analysis methods, combined with a measure of profitability related indicators of King Long Motor company’s profitability do a specific analysis to identify factors constraining the profitability of Kinglong company exists and the motivation to improve profitability, which made recommendations to improve the profitability of Kinglong car company to promote the company’s future can be better and faster development.)

An ethical justification of profit maximization

DEFF Research Database (Denmark)

Koch, Carsten Allan

2010-01-01

In much of the literature on business ethics and corporate social responsibility, it is more or less taken for granted that attempts to maximize profits are inherently unethical. The purpose of this paper is to investigate whether an ethical argument can be given in support of profit maximizing...... behaviour. It is argued that some form of consequential ethics must be applied, and that both profit seeking and profit maximization can be defended from a rule-consequential point of view. It is noted, however, that the result does not apply unconditionally, but requires that certain form of profit (and...... utility) maximizing actions are ruled out, e.g., by behavioural norms or formal institutions....

Multiobjective Optimization Modeling Approach for Multipurpose Single Reservoir Operation

Directory of Open Access Journals (Sweden)

Iosvany Recio Villa

2018-04-01

Full Text Available The water resources planning and management discipline recognizes the importance of a reservoir’s carryover storage. However, mathematical models for reservoir operation that include carryover storage are scarce. This paper presents a novel multiobjective optimization modeling framework that uses the constraint-ε method and genetic algorithms as optimization techniques for the operation of multipurpose simple reservoirs, including carryover storage. The carryover storage was conceived by modifying Kritsky and Menkel’s method for reservoir design at the operational stage. The main objective function minimizes the cost of the total annual water shortage for irrigation areas connected to a reservoir, while the secondary one maximizes its energy production. The model includes operational constraints for the reservoir, Kritsky and Menkel’s method, irrigation areas, and the hydropower plant. The study is applied to Carlos Manuel de Céspedes reservoir, establishing a 12-month planning horizon and an annual reliability of 75%. The results highly demonstrate the applicability of the model, obtaining monthly releases from the reservoir that include the carryover storage, degree of reservoir inflow regulation, water shortages in irrigation areas, and the energy generated by the hydroelectric plant. The main product is an operational graph that includes zones as well as rule and guide curves, which are used as triggers for long-term reservoir operation.

Optimal Scheduling of Distributed Energy Resources and Responsive Loads in Islanded Microgrids Considering Voltage and Frequency Security Constraints

DEFF Research Database (Denmark)

Vahedipour-Dahraie, Mostafa; Najafi, Hamid Reza; Anvari-Moghaddam, Amjad

2018-01-01

in islanded MGs with regard to voltage and frequency security constraints. Based on the proposed model, scheduling of the controllable units in both supply and demand sides is done in a way not only to maximize the expected profit of MG operator (MGO), but also to minimize the energy payments of customers...... on the system’s performance in terms of voltage and frequency stability. Moreover, optimal coordination of DERs and responsive loads can increase the expected profit of MGO significantly. The effectiveness of the proposed scheduling approach is verified on an islanded MG test system over a 24-h period....

Forecasting Ability But No Profitability: An Empirical Evaluation of Genetic Algorithm-optimised Technical Trading Rules

OpenAIRE

Pereira, Robert

1999-01-01

This paper evaluates the performance of several popular technical trading rules applied to the Australian share market. The optimal trading rule parameter values over the in-sample period of 4/1/82 to 31/12/89 are found using a genetic algorithm. These optimal rules are then evaluated in terms of their forecasting ability and economic profitability during the out-of-sample period from 2/1/90 to the 31/12/97. The results indicate that the optimal rules outperform the benchmark given by a risk-...

Optimal contracts for wind power producers in electricity markets

KAUST Repository

Bitar, E.

2010-12-01

This paper is focused on optimal contracts for an independent wind power producer in conventional electricity markets. Starting with a simple model of the uncertainty in the production of power from a wind turbine farm and a model for the electric energy market, we derive analytical expressions for optimal contract size and corresponding expected optimal profit. We also address problems involving overproduction penalties, cost of reserves, and utility of additional sensor information. We obtain analytical expressions for marginal profits from investing in local generation and energy storage. ©2010 IEEE.

A stochastic dynamic model for optimal timing of investments in new generation capacity in restructured power systems

International Nuclear Information System (INIS)

Botterud, Audun; Korpaas, Magnus

2007-01-01

In this paper we formulate the power generation investment problem for a decentralised and profit-maximising investor operating in a restructured and competitive power system. In particular, we look at how uncertainty influences the optimal timing of investments in new power generation capacity. A real options approach is used to take long-term uncertainty in load growth, and its influence on future electricity prices, into account in the investment optimisation. In order to value the operational flexibility of a new power plant we use an electricity price model, where the spot price is a function of load level and installed generation capacity, in addition to short-term uncertainties and temporal fluctuations in the market. The investor's income from a capacity payment, which also can depend on the system's total capacity balance, can also be represented. Hence, with the optimisation model we can analyse power plant profitability and optimal timing of new investments under different market designs. In a case study from the Nordic electricity market we analyse the effect of uncertainty on optimal investment timing. We also examine how a fixed or variable capacity payment would influence the investment decision, and discuss the system consequences of the resulting investment strategies. (author)

Optimization of operation cycles in BWRs using neural networks

International Nuclear Information System (INIS)

Ortiz S, J. J.; Castillo, A.; Alejandro P, D.

2011-11-01

The first results of a system for the optimization of operation cycles in boiling water reactors by means of a multi state recurrent neural network are present in this work. The neural network finds the best combination of fuel cells; fuel reloads and control bars patterns previously designed, according to an energy function that qualifies the performance of the three partial solutions for the solution of the whole problem. The partial solutions are designed by means of optimization systems non couple among them and that can use any optimization technique. The phase of the fuel axial design is not made and the size of the axial areas is fixed during the optimization process. The methodology was applied to design a balance cycle of 18 months for the reactors of the nuclear power station of Laguna Verde. The results show that is possible to find combinations of partial solutions that in set represent good solutions to the complete design problem of an operation cycle of a nuclear reactor. The results are compared with others obtained previously by other techniques. This system was developed in platform Li nux and programmed in Fortran 95 taking advantage of the 8 nuclei of a work station Dell Precision T7400. (Author)

Analysis of efficiency and marketing trends cost optimization in enterprises of baking branch

Directory of Open Access Journals (Sweden)

Lukan О.М.

2017-06-01

Full Text Available Today, at the bakery industry, little attention is paid to marketing activities. Limited financial resources and the lack of a comprehensive assessment of the effectiveness of marketing activities leads to a reduction in marketing budgets and a decrease in the profitability of the enterprise as a whole. Therefore, despite the complexity of conducting an analysis of the cost effectiveness of marketing activities, in market conditions it is necessary to control the level of costs and the formation of optimal marketing budgets. In the work it is determined that the main direction of marketing activity evaluation is the analysis of the cost effectiveness for its implementation. A scientific-methodical approach to the analysis of the effectiveness of marketing costs in the bakery industry is suggested. The analysis of the cost effectiveness of marketing activities on the basis of the assumption that marketing costs are a factor variable determining the patterns of changes in the values of the resulting indicators of financial and economic activities of the enterprise, such as net income from sales of products, gross profit, financial results from operating activities and net profit (losses. The main directions of optimization of marketing activities at bakery enterprises are given.

Exergoeconomic performance optimization of an endoreversible intercooled regenerative Brayton combined heat and power plant coupled to variable-temperature heat reservoirs

Energy Technology Data Exchange (ETDEWEB)

Yang, Bo; Chen, Lingen; Sun, Fengrui [College of Naval Architecture and Power, Naval University of Engineering, Wuhan 430033 (China)

2012-07-01

An endoreversible intercooled regenerative Brayton combined heat and power (CHP) plant model coupled to variable-temperature heat reservoirs is established. The exergoeconomic performance of the CHP plant is investigated using finite time thermodynamics. The analytical formulae about dimensionless profit rate and exergy efficiency of the CHP plant with the heat resistance losses in the hot-, cold- and consumer-side heat exchangers, the intercooler and the regenerator are deduced. By taking the maximum profit rate as the objective, the heat conductance allocation among the five heat exchangers and the choice of intercooling pressure ratio are optimized by numerical examples, the characteristic of the optimal dimensionless profit rate versus corresponding exergy efficiency is investigated. When the optimization is performed further with respect to the total pressure ratio, a double-maximum profit rate is obtained. The effects of the design parameters on the double-maximum dimensionless profit rate and corresponding exergy efficiency, optimal total pressure ratio and optimal intercooling pressure ratio are analyzed in detail, and it is found that there exist an optimal consumer-side temperature and an optimal thermal capacitance rate matching between the working fluid and the heat reservoir, respectively, corresponding to a thrice-maximum dimensionless profit rate.

Problems of future energy market planning and optimization

International Nuclear Information System (INIS)

Vladimir Lelek; David Jaluvka

2007-01-01

Problems of future energy supply in the form, which is demanded - heat, liquid fuel, electricity - are described. There are several factors, which probably could be studied separately: technology and its sustain ability with respect to the raw materials resources, long time for capacity construction, for some form of energy even absence of sufficiently deep technology knowledge and model of prices. Prices are specially peculiar problem - they could be very different from the standard approach (investment, operation and maintenance, fuel, profit), if there are market instabilities and you are not able to supply market by the demanded amount form of energy with the consequences on production. Expected effect will be jump in prices or regulated supply to equalize supply and use. Such situation will be until the new capacities are put into operation or new technologies of production are established - it could be time about ten or more years and this can completely change our standard consideration of profit. The main profit will be to avoid losses and unemployment. Also concept of local or domestic raw material resources could be changed - in the free market your resources will be sold to those paying more. Probable development of energy market is described in the article and special attention is devoted to the nuclear energy, which not only consume, but also produce raw material and how to proceed to avoid crises in supply. Contemporary understanding of the problem does not enable to formulate it strictly as mathematical optimization task (Authors)

A method for aggregating external operating conditions in multi-generation system optimization models

DEFF Research Database (Denmark)

Lythcke-Jørgensen, Christoffer Ernst; Münster, Marie; Ensinas, Adriano Viana

2016-01-01

This paper presents a novel, simple method for reducing external operating condition datasets to be used in multi-generation system optimization models. The method, called the Characteristic Operating Pattern (CHOP) method, is a visually-based aggregation method that clusters reference data based...... on parameter values rather than time of occurrence, thereby preserving important information on short-term relations between the relevant operating parameters. This is opposed to commonly used methods where data are averaged over chronological periods (months or years), and extreme conditions are hidden...... in the averaged values. The CHOP method is tested in a case study where the operation of a fictive Danish combined heat and power plant is optimized over a historical 5-year period. The optimization model is solved using the full external operating condition dataset, a reduced dataset obtained using the CHOP...

Optimization of enrichment zones that maximize the regeneration profits in a fast reactor

International Nuclear Information System (INIS)

Jachic, J.

1983-01-01

Using a simplified model of Super Phenix reactor, the admissible limits of internal and external enrichment core without control rods, that assure an auto-stability related to fuel Doppler coefficient were determined. A Linear Programming System was developed to solve this problem, using the SIMPLEX method. The solution showed that the regeneration profits could be increased at least in 14% if the internal enrichment core decrease 0.97 and the external 0.3%. (E.G.) [pt

Economic Optimization Analysis of Chengdu Electric Community Bus Operation

Science.gov (United States)

Yidong, Wang; Yun, Cai; Zhengping, Tan; Xiong, Wan

2018-03-01

In recent years, the government has strongly supported and promoted electric vehicles and has given priority to demonstration and popularization in the field of public transport. The economy of public transport operations has drawn increasing attention. In this paper, Chengdu wireless charging pure electric community bus is used as the research object, the battery, air conditioning, driver’s driving behavior and other economic influence factors were analyzed, and optimizing the operation plan through case data analysis, through the reasonable battery matching and mode of operation to help businesses effectively save operating costs and enhance economic efficiency.

There's No Place Like Home: The Profitability Gap between Headquarters and their Foreign Subsidiaries

OpenAIRE

Dischinger, Matthias; Riedel, Nadine

2009-01-01

Using a large panel data set for European firms, this paper provides evidence that operations at multinational headquarters are significantly more profitable than perations at their foreign subsidiaries. The effect turns out to be robust and quantitatively large. Our findings suggest that the profitability gap is partly driven by agency costs which arise if value-driving functions are managed by a subsidiary that is geographically separated from the headquarters management. In line with falli...

Ancillary services and optimal household energy management with photovoltaic production

International Nuclear Information System (INIS)

Clastres, C.; Ha Pham, T.T.; Wurtz, F.; Bacha, S.

2010-01-01

This article presents a project designed to increase the monetary value of photovoltaic (PV) solar production for residential applications. To contribute to developing new functionalities for this type of PV system and an efficient control system for optimising its operation, this article explains how the proposed system could contract to provide ancillary services, particularly the supply of active power services. This provision of service by a PV-based system for domestic applications, not currently available, has prompted a market design proposal related to the distribution system. The mathematical model for calculating the system's optimal operation (sources, load and exchanges of power with the grid) results in a linear mix integer optimisation problem in which the objective is to maximise the profits achieved by taking part in the electricity market. Our approach is illustrated in a case study. PV producers could gain by taking part in the markets for balancing power or ancillary services despite the negative impact on profit of several types of uncertainty, notably the intermittent nature of the PV source.

Optimal Operational Monetary Policy Rules in an Endogenous Growth Model: a calibrated analysis

OpenAIRE

Arato, Hiroki

2009-01-01

This paper constructs an endogenous growth New Keynesian model and considers growth and welfare effect of Taylor-type (operational) monetary policy rules. The Ramsey equilibrium and optimal operational monetary policy rule is also computed. In the calibrated model, the Ramseyoptimal volatility of inflation rate is smaller than that in standard exogenous growth New Keynesian model with physical capital accumulation. Optimal operational monetary policy rule makes nominal interest rate respond s...

Decomposing variation in dairy profitability: the impact of output, inputs, prices, labour and management.

Science.gov (United States)

Wilson, P

2011-08-01

The UK dairy sector has undergone considerable structural change in recent years, with a decrease in the number of producers accompanied by an increased average herd size and increased concentrate use and milk yields. One of the key drivers to producers remaining in the industry is the profitability of their herds. The current paper adopts a holistic approach to decomposing the variation in dairy profitability through an analysis of net margin data explained by physical input-output measures, milk price variation, labour utilization and managerial behaviours and characteristics. Data are drawn from the Farm Business Survey (FBS) for England in 2007/08 for 228 dairy enterprises. Average yields are 7100 litres/cow/yr, from a herd size of 110 cows that use 0·56 forage ha/cow/yr and 43·2 labour h/cow/yr. An average milk price of 22·57 pence per litre (ppl) produced milk output of £1602/cow/yr, which after accounting for calf sales, herd replacements and quota leasing costs, gave an average dairy output of £1516/cow/yr. After total costs of £1464/cow/yr this left an economic return of £52/cow/yr (0·73 ppl) net margin profit. There is wide variation in performance, with the most profitable (as measured by net margin per cow) quartile of producers achieving 2000 litres/cow/yr more than the least profitable quartile, returning a net margin of £335/cow/yr compared to a loss of £361/cow/yr for the least profitable. The most profitable producers operate larger, higher yielding herds and achieve a greater milk price for their output. In addition, a significantly greater number of the most profitable producers undertake financial benchmarking within their businesses and operate specialist dairy farms. When examining the full data set, the most profitable enterprises included significantly greater numbers of organic producers. The most profitable tend to have a greater reliance on independent technical advice, but this finding is not statistically significant

A practical algorithm for optimal operation management of distribution network including fuel cell power plants

Energy Technology Data Exchange (ETDEWEB)

Niknam, Taher; Meymand, Hamed Zeinoddini; Nayeripour, Majid [Electrical and Electronic Engineering Department, Shiraz University of Technology, Shiraz (Iran)

2010-08-15

Fuel cell power plants (FCPPs) have been taken into a great deal of consideration in recent years. The continuing growth of the power demand together with environmental constraints is increasing interest to use FCPPs in power system. Since FCPPs are usually connected to distribution network, the effect of FCPPs on distribution network is more than other sections of power system. One of the most important issues in distribution networks is optimal operation management (OOM) which can be affected by FCPPs. This paper proposes a new approach for optimal operation management of distribution networks including FCCPs. In the article, we consider the total electrical energy losses, the total electrical energy cost and the total emission as the objective functions which should be minimized. Whereas the optimal operation in distribution networks has a nonlinear mixed integer optimization problem, the optimal solution could be obtained through an evolutionary method. We use a new evolutionary algorithm based on Fuzzy Adaptive Particle Swarm Optimization (FAPSO) to solve the optimal operation problem and compare this method with Genetic Algorithm (GA), Particle Swarm Optimization (PSO), Differential Evolution (DE), Ant Colony Optimization (ACO) and Tabu Search (TS) over two distribution test feeders. (author)

Optimal allocation of energy storage in a co-optimized electricity market: Benefits assessment and deriving indicators for economic storage ventures

International Nuclear Information System (INIS)

Krishnan, Venkat; Das, Trishna

2015-01-01

This paper presents a framework for optimally allocating storage technologies in a power system. This decision support tool helps in quantitatively answering the questions on “where to and how much to install” considering the profits from arbitrage opportunities in a co-optimized electricity market. The developed framework is illustrated on a modified IEEE (Institute of Electrical and Electronics Engineers) 24 bus RTS (Reliability Test System), and the framework finds the optimal allocation solution and the revenues storage earns at each of these locations. Bulk energy storage, CAES (compressed air energy storage) is used as the representative storage technology, and the benefits of optimally allocated storage integration onto the grid are compared with transmission expansion solution. The paper also discusses about system-level indicators to identify candidate locations for economical storage ventures, which are derived based on the optimal storage allocation solution; and applies the market price based storage venture indicators on MISO (Mid-continental Independent System Operator) and PJM (Pennsylvania-New Jersey-Maryland Interconnection) electricity markets. - Highlights: • Storage optimal allocation framework based on high-fidelity storage dispatch model. • Storage with transmission addresses energy and ancillary issues under high renewables. • Bulk storage earns higher revenues from co-optimization (∼10× energy only market). • Grid offers distributed opportunities for investing in a strategic mix of storage. • Storage opportunities depend on cross-arbitrage, as seen from MISO (Mid-continental Independent System Operator) and PJM (Pennsylvania-New Jersey-Maryland Interconnection) markets

A Mathematical Model of Profit-Loss Sharing Scheme of Small Investment for Traditional Market Traders using The Semi-Fuzzy Logic Approach

Directory of Open Access Journals (Sweden)

Novriana Sumarti

2017-02-01

Full Text Available A mathematical model of micro-finance investment using profit-loss sharing scheme are made and implemented to simulated data. Here profits from the venture will be shared in a portion between the investor and the entity running the business. The scheme can be classified as Musharaka type of investment in Sharia economy. The proposed model is theoretically implemented with data from small-scale traders at a local traditional market who have small turnover. They are common target of usurers who lend money with high interest rate and penalties. If the traders are in unfortunate conditions, they are potentially in poorer condition than before committing themselves to the usurer. In the conventional practices of the profit sharing scheme, the investor will get a fixed portion of the trader’s income, which is applied for all kind of small-scale traders. If the traders are diligent and hard worker and have very high turnover, then the investor will gain much more profit whether the contributed capital is small or large. In this paper, the scheme is implemented using Semi-Fuzzy Logic Approach so that the profit-loss sharing scheme can achieve its intended goal, which is to make a profitable investment not only for the investor but also for traders. The approach is not fully using Fuzzy Logic because some variables are still in crisp numbers and the optimization problem is regular in the form of crisp numbers. Based on the existing data, the results show that the optimal profit share is depended on the income of the traders. The higher the income coming from the venture, the lesser the profit share for the investor which is reasonable with the fixed initial contributed capital.

An Optimal Operating Strategy for Battery Life Cycle Costs in Electric Vehicles

Directory of Open Access Journals (Sweden)

Yinghua Han

2014-01-01

Full Text Available Impact on petroleum based vehicles on the environment, cost, and availability of fuel has led to an increased interest in electric vehicle as a means of transportation. Battery is a major component in an electric vehicle. Economic viability of these vehicles depends on the availability of cost-effective batteries. This paper presents a generalized formulation for determining the optimal operating strategy and cost optimization for battery. Assume that the deterioration of the battery is stochastic. Under the assumptions, the proposed operating strategy for battery is formulated as a nonlinear optimization problem considering reliability and failure number. And an explicit expression of the average cost rate is derived for battery lifetime. Results show that the proposed operating strategy enhances the availability and reliability at a low cost.

Hierarchical Control for Optimal and Distributed Operation of Microgrid Systems

DEFF Research Database (Denmark)

Meng, Lexuan

manages the power flow with external grids, while the economic and optimal operation of MGs is not guaranteed by applying the existing schemes. Accordingly, this project dedicates to the study of real-time optimization methods for MGs, including the review of optimization algorithms, system level...... mathematical modeling, and the implementation of real-time optimization into existing hierarchical control schemes. Efficiency enhancement in DC MGs and optimal unbalance compensation in AC MGs are taken as the optimization objectives in this project. Necessary system dynamic modeling and stability analysis......, a discrete-time domain modeling method is proposed to establish an accurate system level model. Taking into account the different sampling times of real world plant, digital controller and communication devices, the system is modeled with these three parts separately, and with full consideration...

Operational Optimization in Port Container Terminals

DEFF Research Database (Denmark)

As a result of the significant increase in worldwide containerized transportation the development of efficient handling systems in marine terminals has become very important for port competitiveness. In order to optimize the productivity the total handling time for containers in the terminal must...... be minimized. An overview of the different operational problems in port container terminals is presented and an aggregated model and solution approach is shown. Next, there will be focused on the yard storage problem and a mathematical formulation and solution proposals will be presented....

Optimization of operating schedule of machines in granite industry using evolutionary algorithms

International Nuclear Information System (INIS)

Loganthurai, P.; Rajasekaran, V.; Gnanambal, K.

2014-01-01

Highlights: • Operating time of machines in granite industries was studied. • Operating time has been optimized using evolutionary algorithms such as PSO, DE. • The maximum demand has been reduced. • Hence the electricity cost of the industry and feeder stress have been reduced. - Abstract: Electrical energy consumption cost plays an important role in the production cost of any industry. The electrical energy consumption cost is calculated as two part tariff, the first part is maximum demand cost and the second part is energy consumption cost or unit cost (kW h). The maximum demand cost can be reduced without affecting the production. This paper focuses on the reduction of maximum demand by proper operating schedule of major equipments. For this analysis, various granite industries are considered. The major equipments in granite industries are cutting machine, polishing machine and compressor. To reduce the maximum demand, the operating time of polishing machine is rescheduled by optimization techniques such as Differential Evolution (DE) and particle swarm optimization (PSO). The maximum demand costs are calculated before and after rescheduling. The results show that if the machines are optimally operated, the cost is reduced. Both DE and PSO algorithms reduce the maximum demand cost at the same rate for all the granite industries. However, the optimum scheduling obtained by DE reduces the feeder power flow than the PSO scheduling

Solving complex maintenance planning optimization problems using stochastic simulation and multi-criteria fuzzy decision making

International Nuclear Information System (INIS)

Tahvili, Sahar; Österberg, Jonas; Silvestrov, Sergei; Biteus, Jonas

2014-01-01

One of the most important factors in the operations of many cooperations today is to maximize profit and one important tool to that effect is the optimization of maintenance activities. Maintenance activities is at the largest level divided into two major areas, corrective maintenance (CM) and preventive maintenance (PM). When optimizing maintenance activities, by a maintenance plan or policy, we seek to find the best activities to perform at each point in time, be it PM or CM. We explore the use of stochastic simulation, genetic algorithms and other tools for solving complex maintenance planning optimization problems in terms of a suggested framework model based on discrete event simulation

Solving complex maintenance planning optimization problems using stochastic simulation and multi-criteria fuzzy decision making

Energy Technology Data Exchange (ETDEWEB)

Tahvili, Sahar [Mälardalen University (Sweden); Österberg, Jonas; Silvestrov, Sergei [Division of Applied Mathematics, Mälardalen University (Sweden); Biteus, Jonas [Scania CV (Sweden)

2014-12-10

One of the most important factors in the operations of many cooperations today is to maximize profit and one important tool to that effect is the optimization of maintenance activities. Maintenance activities is at the largest level divided into two major areas, corrective maintenance (CM) and preventive maintenance (PM). When optimizing maintenance activities, by a maintenance plan or policy, we seek to find the best activities to perform at each point in time, be it PM or CM. We explore the use of stochastic simulation, genetic algorithms and other tools for solving complex maintenance planning optimization problems in terms of a suggested framework model based on discrete event simulation.

The profitability of Norwegian salmon farming companies : a study of profitability variation

OpenAIRE

Eilertsen, Bendik Foss; Hui, Erik

2015-01-01

The conditions in the Norwegian salmon farming industry are constantly changing. Locally and globally, regulations, consolidation and technological advancements are some of the factors having a deep impact on the current industry. To ensure competitiveness, it is essential to emphasise on profitability and taking the correct strategic decisions. The objective of this thesis is to indicate what may cause variation in profitability in the current Norwegian salmon farming industry...

The effect of feed demand on greenhouse gas emissions and farm profitability for organic and conventional dairy farms.

Science.gov (United States)

Kiefer, Lukas; Menzel, Friederike; Bahrs, Enno

2014-12-01

The reduction of product-related greenhouse gas (GHG) emissions in milk production appears to be necessary. The reduction of emissions on an individual farm might be highly accepted by farm owners if it were accompanied by an increase in profitability. Using life cycle assessments to determine the product carbon footprints (PCF) and farm-level evaluations to record profitability, we explored opportunities for optimization based on analysis of 81 organic and conventional pasture-based dairy farms in southern Germany. The objective of the present study was to detect common determining factors for low PCF and high management incomes (MI) to achieve GHG reductions at the lowest possible operational cost. In our sample, organic farms, which performed economically better than conventional farms, produced PCF that were significantly higher than those produced by conventional farms [1.61 ± 0.29 vs. 1.45 ± 0.28 kg of CO₂ equivalents (CO₂eq) per kg of milk; means ± SD)]. A multiple linear regression analysis of the sample demonstrated that low feed demand per kilogram of milk, high grassland yield, and low forage area requirements per cow are the main factors that decrease PCF. These factors are also useful for improving a farm's profitability in principle. For organic farms, a reduction of feed demand of 100 g/kg of milk resulted in a PCF reduction of 105 g of CO₂eq/kg of milk and an increase in MI of approximately 2.1 euro cents (c)/kg of milk. For conventional farms, a decrease of feed demand of 100 g/kg of milk corresponded to a reduction in PCF of 117 g of CO₂eq/kg of milk and an increase in MI of approximately 3.1 c/kg of milk. Accordingly, farmers could achieve higher profits while reducing GHG emissions. Improved education and training of farmers and consultants regarding GHG mitigation and farm profitability appear to be the best methods of improving efficiency under traditional and organic farming practices.

Multi-objective optimization of an industrial penicillin V bioreactor train using non-dominated sorting genetic algorithm.

Science.gov (United States)

Lee, Fook Choon; Rangaiah, Gade Pandu; Ray, Ajay Kumar

2007-10-15

Bulk of the penicillin produced is used as raw material for semi-synthetic penicillin (such as amoxicillin and ampicillin) and semi-synthetic cephalosporins (such as cephalexin and cefadroxil). In the present paper, an industrial penicillin V bioreactor train is optimized for multiple objectives simultaneously. An industrial train, comprising a bank of identical bioreactors, is run semi-continuously in a synchronous fashion. The fermentation taking place in a bioreactor is modeled using a morphologically structured mechanism. For multi-objective optimization for two and three objectives, the elitist non-dominated sorting genetic algorithm (NSGA-II) is chosen. Instead of a single optimum as in the traditional optimization, a wide range of optimal design and operating conditions depicting trade-offs of key performance indicators such as batch cycle time, yield, profit and penicillin concentration, is successfully obtained. The effects of design and operating variables on the optimal solutions are discussed in detail. Copyright 2007 Wiley Periodicals, Inc.

Optimal operating conditions for external cavity semiconductor laser optical chaos communication system

International Nuclear Information System (INIS)

Priyadarshi, S; Pierce, I; Hong, Y; Shore, K A

2012-01-01

In optical chaos communications a message is masked in the noise-like broadband output of a chaotic transmitter laser, and message recovery is enabled through the synchronization of the transmitter and the (chaotic) receiver laser. Key issues are to identify the laser operating conditions which provide the highest quality synchronization conditions and those which provide optimized message extraction. In general such operating conditions are not coincident. In this paper numerical simulations are performed with the aim of identifying a regime of operation where the highest quality synchronization and optimizing message extraction efficiency are achieved simultaneously. Use of such an operating regime will facilitate practical deployment of optical chaos communications systems without the need for re-adjustment of laser operating conditions in the field. (paper)

The optimal fuel mix and redistribution of social surplus in the Korean power market

International Nuclear Information System (INIS)

Kim, Hyunsook; Kim, Sung-Soo

2010-01-01

This paper investigates the difference between the optimal fuel mix incorporating a pre-installed generation capacity constraint and the actual fuel mix in the Korean power market. Since the restructuring of the market, the fuel mix has been determined partly by investors and partly by the Basic Plan for Long-Term Electricity Supply and Demand (BPE). Both the system marginal price (SMP), and the capacity payment (CP), which has been based on the fixed cost of a specific gas turbine generator, were intended to provide an investment incentive in the market; however, they did not bring about an optimal fuel mix in Korea. Under the circumstances of a shortage of base load generators, these generators may garner excessive profits due to a high SMP level. However, the adjustment scheme of profit between KEPCO and Gencos left scant profit for generators. This paper suggests that a contract is needed to create the appropriate profit and tax levels for these base load generators. The redistribution of profit improves equality between consumers and generators, and the proper margin creates incentives for base load technology investment in Korea. - Research highlights: → This paper aims to determine the optimal fuel mix in Korea and shows the difference between the optimal and actual fuel mix; → We discovered that the optimal fuel mix ratio should be 63.5%:20.5%:16.0%for nuclear energy, coal, and LNG, respectively; → Because the pre-installed capacity is taken as given, the optimal fuel mix under the given installed capacity is an addition of a new nuclear unit to the current fuel mix; → The additional profit above the profit margin in the BPE should be collected and redistributed to consumers; → While we provide an incentive to build nuclear and coal units in Korea, we also suggest that a contract is needed to guarantee the profit level for generators based on a government regulation constraint, the BPE, to achieve a fair treatment.

Operations management: a tool to increase profitability.

Science.gov (United States)

Mulvehill, M J

2001-03-01

Operations management enables the efficient utilization of the production systems in a business. This paper will address several key elements in the business competency of operations management. Specifically, this discussion will review the components of a material requirement planning system and a "just-in-time" system for inventory control and time management to enable the dentist to monitor a portion of the practice's overhead costs.

Quantum behaved Particle Swarm Optimization with Differential Mutation operator applied to WWER-1000 in-core fuel management optimization

International Nuclear Information System (INIS)

Jamalipour, Mostafa; Sayareh, Reza; Gharib, Morteza; Khoshahval, Farrokh; Karimi, Mahmood Reza

2013-01-01

Highlights: ► A new method called QPSO-DM is applied to BNPP in-core fuel management optimization. ► It is found that QPSO-DM performs better than PSO and QPSO. ► This method provides a permissible arrangement for optimum loading pattern. - Abstract: This paper presents a new method using Quantum Particle Swarm Optimization with Differential Mutation operator (QPSO-DM) for optimizing WWER-1000 core fuel management. Genetic Algorithm (GA) and Particle Swarm Optimization (PSO) have shown good performance on in-core fuel management optimization (ICFMO). The objective of this paper is to show that QPSO-DM performs very well and is comparable to PSO and Quantum Particle Swarm Optimization (QPSO). Most of the strategies for ICFMO are based on maximizing multiplication factor (k eff ) to increase cycle length and minimizing power peaking factor (P q ) in order to improve fuel integrity. PSO, QPSO and QPSO-DM have been implemented to fulfill these requirements for the first operating cycle of WWER-1000 Bushehr Nuclear Power Plant (BNPP). The results show that QPSO-DM performs better than the others. A program has been written in MATLAB to map PSO, QPSO and QPSO-DM for loading pattern optimization. WIMS and CITATION have been used to simulate reactor core for neutronic calculations

Profits in reverse? An examination of the decisive factors for reverse supply chain profitability

DEFF Research Database (Denmark)

Larsen, Samuel; Jacobsen, Peter

2015-01-01

Although the concept of the reverse supply chain (RSC) is not unknown in industry, an inhibitor for its successful use is low (or no) profitability. A research challenge is investigating ways to establish the RSC as a profit-creating center in the organization. This paper contributes...

Canadian upstream oil and gas industry profitability: Historical review and future perspectives [with executive summary

International Nuclear Information System (INIS)

1991-09-01

The profitability of the Canadian upstream oil and gas industry is examined by analyzing return on equity and return on capital invested. By all measures and interpretations, the upstream industry has been unprofitable since the mid-1980s; returns generated are far below the industry's own historical cost of capital, and are inadequate relative to other sectors of the Canadian economy and to international oil and gas companies. This poor profitability is attributed to such factors as: overly optimistic price forecasts and healthy cash flows generated in the early 1980s, which led to excess capital spending; poor returns on capital reflective of the physical limitations of the Western Canadian Sedimentary Basin; high capital and operating costs; and a high royalty burden imposed by provincial governments. The consequences of low profitability include inadequate returns to equity investors, a drop in spending on upstream services such as drilling and exploration, a reduced ability of the industry to generate employment, and an adverse effect on the economy of Alberta. Forecasts indicate that the upstream sector is extremely vulnerable to a scenario of relatively flat prices due to high and increasing operating costs and depletion charges, and the significant royalty payments that still are in effect. Little scope is foreseen for industry profitability to return to acceptable levels over the first half of the 1990s. Reduced royalties have the potential to make a significant contribution to improved profitability. 52 figs., 40 tabs

Optimal Control of Micro Grid Operation Mode Seamless Switching Based on Radau Allocation Method

Science.gov (United States)

Chen, Xiaomin; Wang, Gang

2017-05-01

The seamless switching process of micro grid operation mode directly affects the safety and stability of its operation. According to the switching process from island mode to grid-connected mode of micro grid, we establish a dynamic optimization model based on two grid-connected inverters. We use Radau allocation method to discretize the model, and use Newton iteration method to obtain the optimal solution. Finally, we implement the optimization mode in MATLAB and get the optimal control trajectory of the inverters.

Online Optimization Method for Operation of Generators in a Micro Grid

Science.gov (United States)

Hayashi, Yasuhiro; Miyamoto, Hideki; Matsuki, Junya; Iizuka, Toshio; Azuma, Hitoshi

Recently a lot of studies and developments about distributed generator such as photovoltaic generation system, wind turbine generation system and fuel cell have been performed under the background of the global environment issues and deregulation of the electricity market, and the technique of these distributed generators have progressed. Especially, micro grid which consists of several distributed generators, loads and storage battery is expected as one of the new operation system of distributed generator. However, since precipitous load fluctuation occurs in micro grid for the reason of its smaller capacity compared with conventional power system, high-accuracy load forecasting and control scheme to balance of supply and demand are needed. Namely, it is necessary to improve the precision of operation in micro grid by observing load fluctuation and correcting start-stop schedule and output of generators online. But it is not easy to determine the operation schedule of each generator in short time, because the problem to determine start-up, shut-down and output of each generator in micro grid is a mixed integer programming problem. In this paper, the authors propose an online optimization method for the optimal operation schedule of generators in micro grid. The proposed method is based on enumeration method and particle swarm optimization (PSO). In the proposed method, after picking up all unit commitment patterns of each generators satisfied with minimum up time and minimum down time constraint by using enumeration method, optimal schedule and output of generators are determined under the other operational constraints by using PSO. Numerical simulation is carried out for a micro grid model with five generators and photovoltaic generation system in order to examine the validity of the proposed method.

Coordination of Nordic system operators in the electric power market - profit from improved capacity utilization and a more flexible division into price zones; Koordinering av nordiske systemoperatoerer i kraftmarkedet - gevinster ved bedret kapasitetsutnyttelse og mer fleksibel prisomraadeinndeling

Energy Technology Data Exchange (ETDEWEB)

Bjoerndal, Mette; Joernsten, Kurt

2001-08-01

This report evaluates the possible profits of establishing a common system operator function in the Nordic electric power market. The main focus is placed on how to deal with congestion in the transmission grid. To estimate possible profits from a better utilization of the resources in the Nordic grid, the authors have analyzed socio-economic profits for several load scenarios. A simplified model of the Nordic stock area was used in the calculations. The existence of two methods of dealing with congestion in the grid may lead to reduced capacity utilization and to greater price differences than necessary. The examples show that ''indirect'' congestion control may be very expensive and that considerable cost reduction can be achieved by improved exploitation of congestion. This implies that if the Nordic area is divided into price zones, it is advantageous to regard the grid as an entity independent of national borders and system operators and to let the real transmission limitations determine the price zoning.

Nested algorithms for optimal reservoir operation and their embedding in a decision support platform

NARCIS (Netherlands)

Delipetrev, B.

2016-01-01

Reservoir operation is a multi-objective optimization problem traditionally solved with dynamic programming (DP) and stochastic dynamic programming (SDP) algorithms. The thesis presents novel algorithms for optimal reservoir operation named nested DP (nDP), nested SDP (nSDP), nested reinforcement

Comparison of Heuristic Methods Applied for Optimal Operation of Water Resources

Directory of Open Access Journals (Sweden)

Alireza Borhani Dariane

2009-01-01

Full Text Available Water resources optimization problems are usually complex and hard to solve using the ordinary optimization methods, or they are at least  not economically efficient. A great number of studies have been conducted in quest of suitable methods capable of handling such problems. In recent years, some new heuristic methods such as genetic and ant algorithms have been introduced in systems engineering. Preliminary applications of these methods in water resources problems have shown that some of them are powerful tools, capable of solving complex problems. In this paper, the application of such heuristic methods as Genetic Algorithm (GA and Ant Colony Optimization (ACO have been studied for optimizing reservoir operation. The Dez Dam reservoir inIranwas chosen for a case study. The methods were applied and compared using short-term (one year and long-term models. Comparison of the results showed that GA outperforms both DP and ACO in finding true global optimum solutions and operating rules.

TRANSPARENCY IN ITALIAN NON PROFIT ORGANIZATIONS

Directory of Open Access Journals (Sweden)

Patrizia Gazzola

2014-07-01

Full Text Available The aim of the paper is to evaluate the accountability and transparency of Italian non profits organizations. The main goal is to understand if a general accountability or transparency problem, or a systematic publicity deficit, exist in the third sector in Italy. Non profit organizations have an ethical obligation to their stakeholder and to the public to conduct their activities with accountability and transparency. Non profit organizations should regularly and openly convey information to the stakeholder about their vision, mission, objectives, activities, accomplishments, decision-making processes and organizational structure. Information from a non profit organization should be easily accessible to the stakeholder and should create external visibility, public understanding and trust in the organization, conditions necessary to find donors. Non profit organizations work with communities and community donors need to know how their money is used. In the first part the analysis of the definition of transparency and accountability is made and the sustainability report like an important instrument of communication is considered. In the second part an empirical research is presented. The Italian law allows taxpayers to devote 5 per thousand of their income tax to non profit organizations, choosing between charities, social promotion associations, recognized associations, entities dedicated to scientific research and health care, universities, municipal social services and other non profit organizations. The present study present a quantitative research and it’s based on an empirical analysis of non-profit organizations that receive this donation in Italy in the year 2010 and 2011. In the paper we analyze the transparency and the accountability of the top 100 non profit organizations that have received the contribution of 5 per thousand, checking whether they prepare their Sustainability Report or any other kind of report for communicate the use

Optimization of startup and shutdown operation of simulated moving bed chromatographic processes.

Science.gov (United States)

Li, Suzhou; Kawajiri, Yoshiaki; Raisch, Jörg; Seidel-Morgenstern, Andreas

2011-06-24

This paper presents new multistage optimal startup and shutdown strategies for simulated moving bed (SMB) chromatographic processes. The proposed concept allows to adjust transient operating conditions stage-wise, and provides capability to improve transient performance and to fulfill product quality specifications simultaneously. A specially tailored decomposition algorithm is developed to ensure computational tractability of the resulting dynamic optimization problems. By examining the transient operation of a literature separation example characterized by nonlinear competitive isotherm, the feasibility of the solution approach is demonstrated, and the performance of the conventional and multistage optimal transient regimes is evaluated systematically. The quantitative results clearly show that the optimal operating policies not only allow to significantly reduce both duration of the transient phase and desorbent consumption, but also enable on-spec production even during startup and shutdown periods. With the aid of the developed transient procedures, short-term separation campaigns with small batch sizes can be performed more flexibly and efficiently by SMB chromatography. Copyright © 2011 Elsevier B.V. All rights reserved.

Not for the Profit, but for the Training? Gender Differences in Training in the For-Profit and Non-Profit Sectors

OpenAIRE

Dostie, Benoît; Javdani, Mohsen

2017-01-01

We use Canadian linked employer-employee data to examine gender differences in probability, duration, and intensity of firm-sponsored training. We find that women in the for-profit sector are less likely to receive classroom training, and receive shorter classroom training courses. However, we find the reverse in the non-profit sector, with women being more likely to receive both classroom and on-the-job training, and also receiving longer classroom training courses. Our results suggest that ...

Public ownership helps boost HMOs' profits.

Science.gov (United States)

Kenkel, P J

1992-05-04

Health maintenance organizations have found that the route to faster growth and better profitability may be turning into a for-profit business and issuing stock. For the past five years, such organizations have generally outperformed their older, not-for-profit counterparts that rely on debt to fuel growth. Since 1988, HMOs have completed 48 stock and debt offerings, raising $3.6 billion.

An optimal control model of crop thinning in viticulture

OpenAIRE

Schamel Guenter H.; Schubert Stefan F.

2016-01-01

We develop an economic model of cluster thinning in viticulture to control for grape quantity harvested and grape quality, applying a simple optimal control model with the aim to raise grape quality and related economic profits. The model maximizes vineyard owner profits and allows to discuss two relevant scenarios using a phase diagram analysis: (1) when the initial grape quantity is sufficiently small, thinning grapes will not be optimal and (2) when the initial grape quantity is high enoug...

Profitability indicators of milk production cost center in intensive systems of production

Directory of Open Access Journals (Sweden)

Glauber dos Santos

2012-01-01

Full Text Available The objective was to estimate some profitability indicators of dairy cost center farms with a high volume of daily production in feedlot. The Intended was also to identify the components that had the greatest influence on the operational cost. We used data from three milk systems production, with the origin of the purebred Holsteins. It was considered as a milk cost center production all expenses related in lactating and dry cows. The methodology used total cost and operating cost in profitability analysis. A production system, by presenting gross margin, net positive result, was able to produce short, medium and long term. Another production system had a positive gross margin and net, with conditions to survive in the short and medium term. Finally, the third system of production has shown a negative gross margin presenting decapitalizing and entering into debt, as revenues were not enough to pay operating expenses even effective. The component items of the effective operational cost that exercised higher “impact” cost and income from milk were, in decreasing order, the feeding, labor, miscellaneous expenses, sanitation, energy, milking, reproduction, equipment rental, BST and taxes.

The Relationship between Return on Profitability and Costs of Outsourcing Information Technology Technical Support

Science.gov (United States)

Odion, Segun

2011-01-01

The purpose of this quantitative correlational research study was to examine the relationship between costs of operation and total return on profitability of outsourcing information technology technical support in a two-year period of outsourcing operations. United States of America list of Fortune 1000 companies' chief information officers…

Profitability and optimization of data management

Energy Technology Data Exchange (ETDEWEB)

Boussa, M. [Sonatrach, Alger (Algeria). Petroleum Engineering and Development

2008-07-01

Information systems and technologies for the oil and gas industry were discussed with particular reference to the use of data analysis in dynamic planning processes. This paper outlined the risks and challenges associated with reorganizing data systems and the costs associated with equipment and software purchases. Issues related to Intranet encryption and electronic commerce systems were also reviewed along with the impact of the Internet on the oil and gas industry. New methods for using real time data systems for updating well data were outlined together with recent developments in Intranet and Extranet technologies and services. Other topics of discussion included new software applications for network optimization and nodal analyses; industry-specific software developed for well testing and reservoir engineering; and simulation and management production software. Data management solutions for storing, retrieving and analyzing data streams were presented. It was concluded that successful organizations must develop accurate data systems in order to ensure continuing success. 4 refs., 8 figs.

Operator support through modern optimal estimation and control

International Nuclear Information System (INIS)

Burdick, G.R.

1980-01-01

Applications of Modern Optimal Estimation and Control Theories are late in coming to the nuclear industry. Some features of the theories that might be exploited in nuclear systems applications are described. Activities at the Idaho National Engineering Laboratory relating to operator support using those theories are identified and some implementation challenges are discussed

Profit-driven drug testing.

Science.gov (United States)

Collen, Mark

2012-01-01

Random drug testing of people being treated for chronic pain has become more common. Physicians may drug test patients on opioid therapy as a result of concerns over prosecution, drug misuse, addiction, and overdose. However, profit motive has remained unexplored. This article suggests profits also drive physician drug-testing behavior and evidence is offered, including an exploration of Medicare reimbursement incentives and kickbacks for drug testing.

Initiative Optimization Operation Strategy and Multi-objective Energy Management Method for Combined Cooling Heating and Power

Institute of Scientific and Technical Information of China (English)

Feng Zhao; Chenghui Zhang; Bo Sun

2016-01-01

This paper proposed an initiative optimization operation strategy and multi-objective energy management method for combined cooling heating and power(CCHP) with storage systems.Initially,the initiative optimization operation strategy of CCHP system in the cooling season,the heating season and the transition season was formulated.The energy management of CCHP system was optimized by the multi-objective optimization model with maximum daily energy efficiency,minimum daily carbon emissions and minimum daily operation cost based on the proposed initiative optimization operation strategy.Furthermore,the pareto optimal solution set was solved by using the niche particle swarm multi-objective optimization algorithm.Ultimately,the most satisfactory energy management scheme was obtained by using the technique for order preference by similarity to ideal solution(TOPSIS) method.A case study of CCHP system used in a hospital in the north of China validated the effectiveness of this method.The results showed that the satisfactory energy management scheme of CCHP system was obtained based on this initiative optimization operation strategy and multi-objective energy management method.The CCHP system has achieved better energy efficiency,environmental protection and economic benefits.

The importance of working capital management for hospital profitability: evidence from bond-issuing, not-for-profit U.S. hospitals.

Science.gov (United States)

Rauscher, Simone; Wheeler, John R C

2012-01-01

Increased financial pressures on hospitals have elevated the importance of working capital management, that is, the management of current assets and current liabilities, for hospitals' profitability. Efficient working capital management allows hospitals to reduce their holdings of current assets, such as inventory and accounts receivable, which earn no interest income and require financing with short-term debt. The resulting cash inflows can be reinvested in interest-bearing financial instruments or used to reduce short-term borrowing, thus improving the profitability of the organization. This study examines the relationship between hospitals' profitability and their performance at managing two components of working capital: accounts receivable, measured in terms of hospitals' average collection periods, and accounts payable, measured in terms of hospitals' average payment periods. Panel data derived from audited financial statements for 1,397 bond-issuing, not-for-profit U.S. hospitals for 2000-2007 were analyzed using hospital-level fixed-effects regression analysis. The results show a negative relationship between hospitals' average collection period and profitability. That is, hospitals that collected on their patient revenue faster reported higher profit margins than did hospitals that have larger balances of accounts receivable outstanding. We also found a negative relationship between hospitals' average payment period and their profitability. Hospital managers did not appear to delay paying their vendors. Rather, the findings indicated that more profitable hospitals paid their suppliers faster, possibly to avoid high effective interest rates on outstanding accounts payable, whereas less profitable hospitals waited longer to pay their bills. The findings of this study suggest that working capital management indeed matters for hospitals' profitability. Efforts aimed at reducing large balances in both accounts receivable and accounts payable may frequently be

Enhancing State-of-the-art Multi-objective Optimization Algorithms by Applying Domain Specific Operators

DEFF Research Database (Denmark)

Ghoreishi, Newsha; Sørensen, Jan Corfixen; Jørgensen, Bo Nørregaard

2015-01-01

optimization problems where the environment does not change dynamically. For that reason, the requirement for convergence in static optimization problems is not as timecritical as for dynamic optimization problems. Most MOEAs use generic variables and operators that scale to static multi-objective optimization...... problem. The domain specific operators only encode existing knowledge about the environment. A comprehensive comparative study is provided to evaluate the results of applying the CONTROLEUM-GA compared to NSGAII, e-NSGAII and e- MOEA. Experimental results demonstrate clear improvements in convergence time...

Taxing Strategies for Carbon Emissions: A Bilevel Optimization Approach

Directory of Open Access Journals (Sweden)

Wei Wei

2014-04-01

Full Text Available This paper presents a quantitative and computational method to determine the optimal tax rate among generating units. To strike a balance between the reduction of carbon emission and the profit of energy sectors, the proposed bilevel optimization model can be regarded as a Stackelberg game between the government agency and the generation companies. The upper-level, which represents the government agency, aims to limit total carbon emissions within a certain level by setting optimal tax rates among generators according to their emission performances. The lower-level, which represents decision behaviors of the grid operator, tries to minimize the total production cost under the tax rates set by the government. The bilevel optimization model is finally reformulated into a mixed integer linear program (MILP which can be solved by off-the-shelf MILP solvers. Case studies on a 10-unit system as well as a provincial power grid in China demonstrate the validity of the proposed method and its capability in practical applications.

Simulation-Optimization Framework for Synthesis and Design of Natural Gas Downstream Utilization Networks

Directory of Open Access Journals (Sweden)

Saad A. Al-Sobhi

2018-02-01

Full Text Available Many potential diversification and conversion options are available for utilization of natural gas resources, and several design configurations and technology choices exist for conversion of natural gas to value-added products. Therefore, a detailed mathematical model is desirable for selection of optimal configuration and operating mode among the various options available. In this study, we present a simulation-optimization framework for the optimal selection of economic and environmentally sustainable pathways for natural gas downstream utilization networks by optimizing process design and operational decisions. The main processes (e.g., LNG, GTL, and methanol production, along with different design alternatives in terms of flow-sheeting for each main processing unit (namely syngas preparation, liquefaction, N2 rejection, hydrogen, FT synthesis, methanol synthesis, FT upgrade, and methanol upgrade units, are used for superstructure development. These processes are simulated using ASPEN Plus V7.3 to determine the yields of different processing units under various operating modes. The model has been applied to maximize total profit of the natural gas utilization system with penalties for environmental impact, represented by CO2eq emission obtained using ASPEN Plus for each flowsheet configuration and operating mode options. The performance of the proposed modeling framework is demonstrated using a case study.

Development of an activity-based costing model to evaluate physician office practice profitability.

Science.gov (United States)

Dugel, Pravin U; Tong, Kuo Bianchini

2011-01-01

Newer treatment regimens for age-related macular degeneration have significantly affected traditional and non-traditional retinal services across all types of practice settings around the country as they seek to find a balance among delivering best patient care, keeping operating costs under control, and maintaining profitability. A systematic retrospective review of a multi-city, multi-physician retinal practice's accounting system to obtain data on revenues, expenses, and profit. Data reviewed were from practice management systems to obtain claims level data on clinical procedures across 7 primary activity centers: non-laser surgery, laser surgery, office visits, optical coherence tomography (OCT), non-OCT diagnostics, drugs and drug injections, and research. All treated patients from a retina practice from January 1, 2005, to December 31, 2007. Retrospective claims data review from a multi-physician retina practice detailing Current Procedural Terminology and Healthcare Common Procedure Coding System procedures performed and billed, submitted charges, allowed charges, and net collections. Analyses were performed by an outside firm and verified by a risk advisory firm. Identifying practice efficiencies/inefficiencies as they relate to patient care. An elaborate analysis using activity-based costing (ABC) showed that increased office visits and OCT and non-OCT diagnostics had a significant negative impact on the practice's profit margins, whereas surgical procedures contributed to the majority of the practice's profit margins because of the lower operating costs associated with surgery. The practice was able to accommodate the demand in patient volume, medical retina services, and medical imaging with the advent of anti-vascular endothelial growth factor therapy and realized a seismic shift in operating costs. The practice attempted to deliver state-of-the-art patient care in a cost-effective manner, yet underwent a significant decline in its financial health

DISCRIMINANT ANALYSIS OF BANK PROFITABILITY LEVELS

Directory of Open Access Journals (Sweden)

Ante Rozga

2013-02-01

Full Text Available Discriminant analysis has been employed in this paper in order to identify and explain key features of bank profitability levels. Bank profitability is set up in the form of two categorical variables: profit or loss recorded and above or below average return on equity. Predictor variables are selected from various groups of financial indicators usually included in the empirical work on microeconomic determinants of bank profitability. The data from the Croatian banking sector is analyzed using the Enter method. General recommendations for a more profitable business of banking found in the bank management literature and existing empirical framework such as rationalization of overhead costs, asset growth, increase of non-interest income by expanding scale and scope of financial products proved to be important for classification of banks in different profitability levels. A higher market share may bring additional advantages. Classification results, canonical correlation and Wilks’ Lambda test confirm statistical significance of research results. Altogether, discriminant analysis turns out to be a suitable statistical method for solving presented research problem and moving forward from the bankruptcy, credit rating or default issues in finance.

Nonlinear Burn Control and Operating Point Optimization in ITER

Science.gov (United States)

Boyer, Mark; Schuster, Eugenio

2013-10-01

Control of the fusion power through regulation of the plasma density and temperature will be essential for achieving and maintaining desired operating points in fusion reactors and burning plasma experiments like ITER. In this work, a volume averaged model for the evolution of the density of energy, deuterium and tritium fuel ions, alpha-particles, and impurity ions is used to synthesize a multi-input multi-output nonlinear feedback controller for stabilizing and modulating the burn condition. Adaptive control techniques are used to account for uncertainty in model parameters, including particle confinement times and recycling rates. The control approach makes use of the different possible methods for altering the fusion power, including adjusting the temperature through auxiliary heating, modulating the density and isotopic mix through fueling, and altering the impurity density through impurity injection. Furthermore, a model-based optimization scheme is proposed to drive the system as close as possible to desired fusion power and temperature references. Constraints are considered in the optimization scheme to ensure that, for example, density and beta limits are avoided, and that optimal operation is achieved even when actuators reach saturation. Supported by the NSF CAREER award program (ECCS-0645086).

Optimal Operation System of the Integrated District Heating System with Multiple Regional Branches

Science.gov (United States)

Kim, Ui Sik; Park, Tae Chang; Kim, Lae-Hyun; Yeo, Yeong Koo

This paper presents an optimal production and distribution management for structural and operational optimization of the integrated district heating system (DHS) with multiple regional branches. A DHS consists of energy suppliers and consumers, district heating pipelines network and heat storage facilities in the covered region. In the optimal management system, production of heat and electric power, regional heat demand, electric power bidding and sales, transport and storage of heat at each regional DHS are taken into account. The optimal management system is formulated as a mixed integer linear programming (MILP) where the objectives is to minimize the overall cost of the integrated DHS while satisfying the operation constraints of heat units and networks as well as fulfilling heating demands from consumers. Piecewise linear formulation of the production cost function and stairwise formulation of the start-up cost function are used to compute nonlinear cost function approximately. Evaluation of the total overall cost is based on weekly operations at each district heat branches. Numerical simulations show the increase of energy efficiency due to the introduction of the present optimal management system.

FREQUENCY OPTIMIZATION FOR SECURITY MONITORING OF COMPUTER SYSTEMS

Directory of Open Access Journals (Sweden)

Вogatyrev V.A.

2015-03-01

Full Text Available The subject areas of the proposed research are monitoring facilities for protection of computer systems exposed to destructive attacks of accidental and malicious nature. The interval optimization model of test monitoring for the detection of hazardous states of security breach caused by destructive attacks is proposed. Optimization function is to maximize profit in case of requests servicing in conditions of uncertainty, and intensity variance of the destructive attacks including penalties when servicing of requests is in dangerous conditions. The vector task of system availability maximization and minimization of probabilities for its downtime and dangerous conditions is proposed to be reduced to the scalar optimization problem based on the criterion of profit maximization from information services (service of requests that integrates these private criteria. Optimization variants are considered with the definition of the averaged periodic activities of monitoring and adapting of these periods to the changes in the intensity of destructive attacks. Adaptation efficiency of the monitoring frequency to changes in the activity of the destructive attacks is shown. The proposed solutions can find their application for optimization of test monitoring intervals to detect hazardous conditions of security breach that makes it possible to increase the system effectiveness, and specifically, to maximize the expected profit from information services.

Operational characteristics optimization of human-computer system

Directory of Open Access Journals (Sweden)

Zulquernain Mallick

2010-09-01

Full Text Available Computer operational parameters are having vital influence on the operators efficiency from readability viewpoint. Four parameters namely font, text/background color, viewing angle and viewing distance are analyzed. The text reading task, in the form of English text, was presented on the computer screen to the participating subjects and their performance, measured in terms of number of words read per minute (NWRPM, was recorded. For the purpose of optimization, the Taguchi method is used to find the optimal parameters to maximize operators’ efficiency for performing readability task. Two levels of each parameter have been considered in this study. An orthogonal array, the signal-to-noise (S/N ratio and the analysis of variance (ANOVA were employed to investigate the operators’ performance/efficiency. Results showed that Times Roman font, black text on white background, 40 degree viewing angle and 60 cm viewing distance, the subjects were quite comfortable, efficient and read maximum number of words per minute. Text/background color was dominant parameter with a percentage contribution of 76.18% towards the laid down objective followed by font type at 18.17%, viewing distance 7.04% and viewing angle 0.58%. Experimental results are provided to confirm the effectiveness of this approach.

Optimal Management of Geothermal Heat Extraction

Science.gov (United States)

Patel, I. H.; Bielicki, J. M.; Buscheck, T. A.

2015-12-01

Geothermal energy technologies use the constant heat flux from the subsurface in order to produce heat or electricity for societal use. As such, a geothermal energy system is not inherently variable, like systems based on wind and solar resources, and an operator can conceivably control the rate at which heat is extracted and used directly, or converted into a commodity that is used. Although geothermal heat is a renewable resource, this heat can be depleted over time if the rate of heat extraction exceeds the natural rate of renewal (Rybach, 2003). For heat extraction used for commodities that are sold on the market, sustainability entails balancing the rate at which the reservoir renews with the rate at which heat is extracted and converted into profit, on a net present value basis. We present a model that couples natural resource economic approaches for managing renewable resources with simulations of geothermal reservoir performance in order to develop an optimal heat mining strategy that balances economic gain with the performance and renewability of the reservoir. Similar optimal control approaches have been extensively studied for renewable natural resource management of fisheries and forests (Bonfil, 2005; Gordon, 1954; Weitzman, 2003). Those models determine an optimal path of extraction of fish or timber, by balancing the regeneration of stocks of fish or timber that are not harvested with the profit from the sale of the fish or timber that is harvested. Our model balances the regeneration of reservoir temperature with the net proceeds from extracting heat and converting it to electricity that is sold to consumers. We used the Non-isothermal Unconfined-confined Flow and Transport (NUFT) model (Hao, Sun, & Nitao, 2011) to simulate the performance of a sedimentary geothermal reservoir under a variety of geologic and operational situations. The results of NUFT are incorporated into the natural resource economics model to determine production strategies that

Improving profitability in a grassroots refinery

Energy Technology Data Exchange (ETDEWEB)

Coombs, T. [Star Petroleum Refining Co. Ltd. (Thailand); Kennedy, P.; Bhargava, S. [KBC Process Technology Ltd. (United Kingdom)

1999-05-01

Actions taken to maximise profit at the Star Refinery in Thailand are described. The company made good use of the Profit Improvement Programme (PIP) (which specialises in refinery economics) and the way in which PIP addressed the problem and the benefits derived therefrom is the nub of this paper. The efforts appear to have been more than satisfactory from the aspect of increasing profit margins. (UK)

Health care joint ventures between tax-exempt organizations and for-profit entities.

Science.gov (United States)

Sanders, Michael I

2005-01-01

Health care exempt organizations have many options regarding their structure and affiliations with for-profit entities. As long as any joint ventures are carefully structured and the nonprofit retains control over the exempt health care activities, the Internal Revenue Service should not question the structure. However, as outlined above, if the for-profit entity effectively gains control over the activities of the venture, the structure is not likely to be upheld by the IRS or the courts, and either the exempt status of the nonprofit will be denied or revoked, or health care income will be subject to the unrelated business income tax. In summary, the health care industry has been severely impacted by many economic forces, including uncertainty in the area of joint ventures between nonprofits and for-profit health care systems. The uncertainty as to whether the joint venture would negatively impact the nonprofit's tax-exempt status undoubtedly caused many nonprofits to form for-profit subsidiaries and otherwise expanded operations in a for-profit marketplace. Fortunately, with the guidance that is currently available in the form of Revenue Ruling 98-15, Redlands, St. David's, and now Revenue Ruling 2004-51, health care institutions can move forward with properly structured joint ventures with greater confidence that the joint venture will not endanger the tax-exempt status of the nonprofit.

Optimization of an experimental hybrid microgrid operation: reliability and economic issues

OpenAIRE

Milo, Aitor; Gaztañaga, Haizea; Etxeberria Otadui, Ion; Bilbao, Endika; Rodríguez Cortés, Pedro

2009-01-01

In this paper a hybrid microgrid system, composed of RES (Renewable Energy System) and CHP (Combined Heat and Power) systems together with a battery based storage system is presented. The microgrid is accompanied by a centralized energy management system (CEMS) in order to optimize the microgrid operation both in grid-connected and in stand-alone modes. In grid-connected mode the optimization of the economic exploitation of the microgrid is privileged by applying optim...

An optimization model for natural gas supply portfolios of a power generation company

International Nuclear Information System (INIS)

Jirutitijaroen, Panida; Kim, Sujin; Kittithreerapronchai, Oran; Prina, José

2013-01-01

Highlights: ► An optimization model for daily operation of a natural gas-fired generation company is proposed. ► The model considers uncertainties in electricity price and natural gas price. ► The model is formulated to capture the hedging decisions by the company. ► The solution yields quantities of natural gas, generating schedule and purchasing quantities of electricity. ► Higher profit can be achieved by adapting inventory and production to the actual spot prices of natural gas and electricity. - Abstract: This paper considers a deregulated electricity market environment where a natural gas-fired generation company can engage in different types of contracts to manage its natural gas supply as well as trade on the electricity market. If the contracts are properly designed, they can protect the company from fluctuations in electricity price and demand, at some cost to the company’s expected profit. This reduction in profit can be mitigated by trading on the natural gas and electricity spot markets, but this trading activity may also sometimes result in losses. A stochastic programming model is formulated to capture the hedging decisions made by the company, as well as the interactions between the natural gas and electricity markets. The benefits offered by this approach for profit maximization in a variety of business scenarios, such as the case where the company can hold some amount of gas in storage are studied and presented. It is found that the stochastic model enables the company to optimize the electricity generation schedule and the natural gas consumption, including spot price transactions and gas storage management. Several managerial insights into the natural gas market, natural gas storage, and distribution profit are given

Optimal Real-time Dispatch for Integrated Energy Systems

Energy Technology Data Exchange (ETDEWEB)

Firestone, Ryan Michael [Univ. of California, Berkeley, CA (United States)

2007-05-31

This report describes the development and application of a dispatch optimization algorithm for integrated energy systems (IES) comprised of on-site cogeneration of heat and electricity, energy storage devices, and demand response opportunities. This work is intended to aid commercial and industrial sites in making use of modern computing power and optimization algorithms to make informed, near-optimal decisions under significant uncertainty and complex objective functions. The optimization algorithm uses a finite set of randomly generated future scenarios to approximate the true, stochastic future; constraints are included that prevent solutions to this approximate problem from deviating from solutions to the actual problem. The algorithm is then expressed as a mixed integer linear program, to which a powerful commercial solver is applied. A case study of United States Postal Service Processing and Distribution Centers (P&DC) in four cities and under three different electricity tariff structures is conducted to (1) determine the added value of optimal control to a cogeneration system over current, heuristic control strategies; (2) determine the value of limited electric load curtailment opportunities, with and without cogeneration; and (3) determine the trade-off between least-cost and least-carbon operations of a cogeneration system. Key results for the P&DC sites studied include (1) in locations where the average electricity and natural gas prices suggest a marginally profitable cogeneration system, optimal control can add up to 67% to the value of the cogeneration system; optimal control adds less value in locations where cogeneration is more clearly profitable; (2) optimal control under real-time pricing is (a) more complicated than under typical time-of-use tariffs and (b) at times necessary to make cogeneration economic at all; (3) limited electric load curtailment opportunities can be more valuable as a compliment to the cogeneration system than alone; and

[Numerical simulation and operation optimization of biological filter].

Science.gov (United States)

Zou, Zong-Sen; Shi, Han-Chang; Chen, Xiang-Qiang; Xie, Xiao-Qing

2014-12-01

BioWin software and two sensitivity analysis methods were used to simulate the Denitrification Biological Filter (DNBF) + Biological Aerated Filter (BAF) process in Yuandang Wastewater Treatment Plant. Based on the BioWin model of DNBF + BAF process, the operation data of September 2013 were used for sensitivity analysis and model calibration, and the operation data of October 2013 were used for model validation. The results indicated that the calibrated model could accurately simulate practical DNBF + BAF processes, and the most sensitive parameters were the parameters related to biofilm, OHOs and aeration. After the validation and calibration of model, it was used for process optimization with simulating operation results under different conditions. The results showed that, the best operation condition for discharge standard B was: reflux ratio = 50%, ceasing methanol addition, influent C/N = 4.43; while the best operation condition for discharge standard A was: reflux ratio = 50%, influent COD = 155 mg x L(-1) after methanol addition, influent C/N = 5.10.

Optimal, Risk-based Operation and Maintenance Planning for Offshore Wind Turbines

DEFF Research Database (Denmark)

Sørensen, John Dalsgaard

2008-01-01

For offshore wind turbines costs to operation and maintenance are substantial. This paper describes a risk-based life-cycle approach for optimal planning of operation and maintenance. The approach is based on pre-posterior Bayesian decision theory. Deterioration mechanisms such as fatigue...

Genetic Algorithm (GA Method for Optimization of Multi-Reservoir Systems Operation

Directory of Open Access Journals (Sweden)

Shervin Momtahen

2006-01-01

Full Text Available A Genetic Algorithm (GA method for optimization of multi-reservoir systems operation is proposed in this paper. In this method, the parameters of operating policies are optimized using system simulation results. Hence, any operating problem with any sort of objective function, constraints and structure of operating policy can be optimized by GA. The method is applied to a 3-reservoir system and is compared with two traditional methods of Stochastic Dynamic Programming and Dynamic Programming and Regression. The results show that GA is superior both in objective function value and in computational speed. The proposed method is further improved using a mutation power updating rule and a varying period simulation method. The later is a novel procedure proposed in this paper that is believed to help in solving computational time problem in large systems. These revisions are evaluated and proved to be very useful in converging to better solutions in much less time. The final GA method is eventually evaluated as a very efficient procedure that is able to solve problems of large multi-reservoir system which is usually impossible by traditional methods. In fact, the real performance of the GA method starts where others fail to function.

Optimal placement of biomass fuelled gas turbines for reduced losses

International Nuclear Information System (INIS)

Jurado, Francisco; Cano, Antonio

2006-01-01

This paper presents a method for the optimal location and sizing of biomass fuelled gas turbine power plants. Both profitability in using biomass and power loss are considered in the cost function. The first step is to assess the plant size that maximizes the profitability of the project. The second step is to determine the optimal location of the gas turbines in the electric system to minimize the power loss of the system

78 FR 11164 - Policy on Contractor Profits

Science.gov (United States)

2013-02-15

... DEPARTMENT OF DEFENSE Defense Acquisition Regulations System Policy on Contractor Profits AGENCY... Authorization Act for Fiscal Year 2013. Section 804, Department of Defense Policy on Contractor Profits... modifications to such guidelines that are necessary to ensure an appropriate link between contractor profit and...

Optimization of the reflux ratio for a stage distillation column based on an improved particle swarm algorithm

DEFF Research Database (Denmark)

Ren, Jingzheng; Tan, Shiyu; Dong, Lichun

2010-01-01

A mathematical model relating operation profits with reflux ratio of a stage distillation column was established. In order to optimize the reflux ratio by solving the nonlinear objective function, an improved particle swarm algorithm was developed and has been proved to be able to enhance...... the searching ability of basic particle swarm algorithm significantly. An example of utilizing the improved algorithm to solve the mathematical model was demonstrated; the result showed that it is efficient and convenient to optimize the reflux ratio for a distillation column by using the mathematical model...

Impact on cost accuracy and profitability from implementing product configuration system – A case-study

DEFF Research Database (Denmark)

Myrodia, Anna; Kristjansdottir, Katrin; Hvam, Lars

2015-01-01

This article aims at analyzing the impacts from implementing a product configuration system (PCS) on company profitability and improved cost estimations in the sales phase. Companies that have implemented PCSs have achieved substantial benefits in terms of being more in control of their product...... assortment, making the right decisions in the sales phase and increased sales of optimal products. Those benefits should have direct impact on improved profitability in terms of increased contribution ratios and more accurate cost estimations used to determine the price in the budgetary quotations...... and accuracy of the cost estimation in the sales phase can be achieved from implementing a PCS....

The strategic value of customer profitability analysis

NARCIS (Netherlands)

Raaij, van E.M.

2005-01-01

Purpose – The aim of the paper is to show how intelligence emanating from customer profitability analysis (CPA) can help improve strategic marketing planning. Insights into the profitability of individual customers, as well as the distribution of profitability across the customer base, can lead to

Profit Allocation in Fuzzy Cooperative Games in Manufacturing and Logistics Industry

Directory of Open Access Journals (Sweden)

Xiaoyan Wang

2014-05-01

Full Text Available Purpose: Alliance between manufacturing and logistics industry is a new model of the joint development of the two industries. A reasonable profit allocation mechanism is the key to ensure the stable operation of the alliance, as well as to achieve the desired objectives. Based on uncertainty of alliance expected return as well as the inherent features of the alliance, this research establishes an improved model of profit allocation in manufacturing and logistics industry alliance.Design/methodology/approach: This article studies how to introduce comprehensive correction factors to improve interval Shapley value method, which is based on the fact that had been proved by exiting studies. In this study, interval Shapley value method is first applied to calculate the initial allocation of fuzzy cooperative games. Next AHP-GEM method and fuzzy comprehensive evaluation method are incorporated. Based on those results, an improved model of profit allocation is established. After that, a case study is demonstrated the practicality and feasibility of the improved model.Findings: Profit allocation is a complex issue in fuzzy cooperative games. There’re impacts from partner risk sharing, collaborative effort market competition, innovative contribution as well as resource investment. All these factors should be involved in the profit allocation, and different factors have different weight in importance.Practical implications: The new model established in the paper is more scientific and reasonable, and more in line with the actual situation. This method also provides good incentives to each enterprise to ensure the healthy and stable development of the alliance.Originality/value: Based on alliance characteristics, this paper establishes an indicator system and a new model for profit allocation in manufacturing and logistics industry alliance, using AHP-GEM method.

Optimization of operation of energy supply systems with co-generation and absorption refrigeration

Directory of Open Access Journals (Sweden)

Stojiljković Mirko M.

2012-01-01

Full Text Available Co-generation systems, together with absorption refrigeration and thermal storage, can result in substantial benefits from the economic, energy and environmental point of view. Optimization of operation of such systems is important as a component of the entire optimization process in pre-construction phases, but also for short-term energy production planning and system control. This paper proposes an approach for operational optimization of energy supply systems with small or medium scale co-generation, additional boilers and heat pumps, absorption and compression refrigeration, thermal energy storage and interconnection to the electric utility grid. In this case, the objective is to minimize annual costs related to the plant operation. The optimization problem is defined as mixed integer nonlinear and solved combining modern stochastic techniques: genetic algorithms and simulated annealing with linear programming using the object oriented “ESO-MS” software solution for simulation and optimization of energy supply systems, developed as a part of this research. This approach is applied to optimize a hypothetical plant that might be used to supply a real residential settlement in Niš, Serbia. Results are compared to the ones obtained after transforming the problem to mixed 0-1 linear and applying the branch and bound method.

Development of Inventory Optimization System for Operation Nuclear Plants

Energy Technology Data Exchange (ETDEWEB)

Jang, Se-Jin; Park, Jong-Hyuk; Yoo, Sung-Soo; Lee, Sang-Guk [Korea Electric Power Research Institutes, Taejon (Korea, Republic of)

2006-07-01

Inventory control of spare parts plays an increasingly important role in operation management. This is why inventory management systems such as manufacturing resources planning(MRP) and enterprise resource planning(ERP) have been added. However, most of these contributions have similar theoretical background. This means the concepts and techniques are mainly based on mathematical assumptions and modeling inventory of spare parts situations. Nuclear utilities in Korea have several problems to manage the optimum level of spare parts though they used MRP System. Because most of items have long lead time and they are imported from United States, Canada, France and so on. We developed the inventory optimization system for Operation Nuclear Plants to resolve these problems. In this paper, we report a data flow process, data load and inventory calculation process. The main contribution of this paper is development of inventory optimization system which can be used in domestic power plants.

Development of Inventory Optimization System for Operation Nuclear Plants

International Nuclear Information System (INIS)

Jang, Se-Jin; Park, Jong-Hyuk; Yoo, Sung-Soo; Lee, Sang-Guk

2006-01-01

Inventory control of spare parts plays an increasingly important role in operation management. This is why inventory management systems such as manufacturing resources planning(MRP) and enterprise resource planning(ERP) have been added. However, most of these contributions have similar theoretical background. This means the concepts and techniques are mainly based on mathematical assumptions and modeling inventory of spare parts situations. Nuclear utilities in Korea have several problems to manage the optimum level of spare parts though they used MRP System. Because most of items have long lead time and they are imported from United States, Canada, France and so on. We developed the inventory optimization system for Operation Nuclear Plants to resolve these problems. In this paper, we report a data flow process, data load and inventory calculation process. The main contribution of this paper is development of inventory optimization system which can be used in domestic power plants

Profitability expertise of rural methanization projects; Expertise de la rentabilite des projets de methanisation rurale. Rapport final

Energy Technology Data Exchange (ETDEWEB)

NONE

2010-02-15

The main objectives of this study were to analyze the profitability of projects of methanization, and to identify factors which curb or favour their profitability. It is based on a detailed analysis of the investment and of the profitability of 50 sites of different sizes and at different stages of progress (from the feasibility study to few months of operation), and also of experiences in three neighbour countries (Germany, Switzerland and Belgium). First, the study highlights the importance of investment costs in the biogas production global cost, notably with respect to current German prices. Then, it comments the impact of subsidies on facility profitability. It proposes ways to improve public support to the different energetic vectors produced from biogas: electricity, biomethane, and heat

Alternative profit rate shariah-compliant for islamic banking