scholarly journals Joint Optimal Pricing and Ordering Decisions for Seasonal Products with Weather-Sensitive Demand

2014 ◽  
Vol 2014 ◽  
pp. 1-8 ◽  
Author(s):  
Hongyong Fu ◽  
Bin Dan ◽  
Xiangkai Sun
Keyword(s):  
Optimal Solution ◽  
Weather Conditions ◽  
Economic Behavior ◽  
Expected Profit ◽  
Optimal Pricing ◽  
Seasonal Temperature ◽  
Market Demand ◽  
Weather Uncertainty ◽  
The One ◽  
Seasonal Products

Retailers selling seasonal products often face the challenge in matching their inventory levels with uncertain market demand which is sensitive to weather conditions, such as the average seasonal temperature. Therefore, how to make the joint ordering and pricing decisions may help retailers to increase their profits. In this paper, we address the joint determination of pricing and ordering decisions in a newsvendor setting, where a retailer (newsvendor) sells the seasonal products and faces demand risk due to weather uncertainty. We show that the maximum expected profit function is continuous and concave, so the optimal solution to the retail price and order quantity exists and it is the one and only solution. In addition, we numerically investigate the impacts of related parameters on the retailer’s expected profit and the optimal pricing and ordering decisions and illustrate some useful management insights into the economic behavior of firms.

Breeding ecology of the fairy martin

1999 ◽  
Vol 47 (5) ◽  
pp. 463 ◽  
Author(s):  
Michael J. L. Magrath
Keyword(s):  
Breeding Season ◽  
Weather Conditions ◽  
Adult Mortality ◽  
First Year ◽  
Breeding Ecology ◽  
Adult Males ◽  
Annual Productivity ◽  
Adverse Weather ◽  
Colony Site ◽  
The One

The breeding biology of the fairy martin, Hirundo ariel, was studied over three years (1992–95) in the Yarra Valley, Victoria. Adult males and females in this population were morphologically similar, though only females acquired a brood patch during the breeding season. Colonies ranged in size from 8 to 29 nests. Birds arrived in the study area in September and usually commenced laying in October, though nesting activities were generally asynchronous both between and within colonies. Most colonies contained active nests until February. At least 16% of adults and 5% of fledglings, on average, returned to the study area in the following year. Returning adults generally nested at the same colony site as the previous year, while most first-year birds nested at sites other than their natal colony. Adult males were more likely to return than adult females. Clutch size ranged from 2 to 5, with a mean of 3.5, and declined over the season. The incubation period varied from 12 to 18 days with a mean of 13.7. A mean of 1.8 chicks fledged per completed clutch, while 60% of clutches produced at least one chick. The period from hatching to fledging varied from 17 to 32 days, with a mean of 22.1, and increased with brood size. Fledging success was highest during the middle of the breeding season. Adverse weather conditions, resulting in the abandonment of clutch and brood, were the most common cause of nest failure, and on several occasions also resulted in adult mortality. Almost half the breeding females produced at least two clutches in the one season. Pairs produced from 0 to 8 fledglings per season, with those that commenced nesting earlier in the season having higher annual productivity. These results are discussed in relation to the breeding ecology of other members of the Hirundinidae.

Hybrid Photovoltaic-Diesel Energy System Optimization (Case Study of Electric Power Supply for Buildings under the Weather Conditions of Montenegro)

2014 ◽  
Vol 627 ◽  
pp. 357-364 ◽  
Author(s):  
Goran Radovic ◽  
Vera Murgul ◽  
Nikolai Vatin ◽  
Ekaterina Aronova
Keyword(s):  
Power Systems ◽  
Electric Power ◽  
Power Supply ◽  
Optimal Solution ◽  
Weather Conditions ◽  
System Optimization ◽  
Energy System ◽  
Energy Performance ◽  
Electric Power Supply ◽  
Continuous Power

The article deals with the concept of solar photovoltaic systems use in power supply systems. An analysis of local solar resources potential has been carried out, and optimal orientation points of radiant heat absorbing photovoltaic panels have been chosen to achieve maximum energy performance. Simulation of electric power systems having different configurations has been implemented using the software program Homer. It has been stated that a combination of solar and diesel energy systems is considered to be an optimal solution under the weather conditions of Montenegro. The systems working together make it possible to reduce maintenance costs significantly and adjust capacity generation schedule with due account for energy consumption features to a maximum extent. This allows generating electric power at less cost and results in a more reliable and continuous power supply without failures for a consumer chosen.

scholarly journals Automation of the one-storey underground parking space organization

2021 ◽  
Vol 284 ◽  
pp. 06012
Author(s):  
Natalia Knyazeva ◽  
Anastasia Kolosova
Keyword(s):  
Evolutionary Algorithms ◽  
Urban Area ◽  
Optimal Solution ◽  
Parking Space ◽  
Space Planning ◽  
Parking Lots ◽  
Legal Documents ◽  
Space Organization ◽  
Big Cities ◽  
The One

With the growing car population in big cities, the problem of its keeping in conditions of a compact urban area has happened. The organisation of parking space in a different way has resolved this issue. Underground parking was in demand in many countries even in the XX century. By the way, they are becoming more and more popular now. The design of car parking is based on legal documents, which regulate the size of car parking seats and the width of the passage inside the garage. It is expedient to use evolutionary algorithms as one of the tools of algorithmic modelling for automation of design the car parking lots and for identifying the most effective and profitable way of the car parking space planning. So, the process of looking for the most optimal solution in underground car parking designing.

scholarly journals METHODS FOR FUZZY DEMAND ASSESSMENT FOR IT SPECIALTIES

2019 ◽  
Vol 4 ◽  
pp. 23-33 ◽  
Author(s):  
Masuma Mammadovа
Keyword(s):  
Labor Market ◽  
Information Technologies ◽  
Rapid Development ◽  
Supply And Demand ◽  
Complete Information ◽  
Mathematical Tool ◽  
Market Demand ◽  
Technological Transformation ◽  
The One ◽  
Support Methods

The rapid development of information technologies and their penetration into various spheres of human activity cause a sharply increased demand for IT specialists, in many countries of the world far exceeding the supply on them. High rates of technological transformation contribute to the diversification of the IT segment of the labor market, on the one hand, stimulate the disappearance of some and the emergence of new IT specialties, on the other. This creates a discrepancy between the structure of IT-related education and the labor market demand for IT specialists of the required profile and determines the relevance of developing methods for assessing the demand for IT specialties. This article is devoted to the study and solution of the problem of identifying the demand for IT specialties in the absence of accurate and complete information about the situation in the IT market segment. For the assessment of IT specialties and their ranking by the degree of demand in the labor market, the tasks of making individual and group decisions in the context of fuzzy initial information are formulated and solved. The methodological basis of the tasks posed is multi-criteria decision support methods based on fuzzy relations of expert preferences. The proposed approach as a mathematical tool for minimizing the structural imbalance of supply and demand for IT specialties is one of the components of the system of intellectual management of the labor market of IT specialists. The latter is designed to support the adoption of scientifically based management decisions to eliminate the mismatch of supply and demand in the IT segment of the labor market in professional, quantitative and qualitative sections.

Opportunities and Limitations of Socio-economic Adaptation in the Coronavirus Crisis

2021 ◽  
pp. 33
Author(s):  
Vladimir Titov
Keyword(s):  
Information And Communication Technologies ◽  
Narrative Analysis ◽  
Economic Behavior ◽  
Economic Adaptation ◽  
The Status ◽  
Market Opportunities ◽  
Information And Communication ◽  
The One ◽  
The Impact ◽  
Depth Interviews

The article reviews the methodological assumptions and results of in-depth interviews held in May 2020. The aim of the article is to identify various aspects of the population’s socio-economic adaptation in the context of the coronavirus pandemic crisis. The author uses the tradition of phenomenological sociology, hermeneutics and narrative analysis as the methodology for the analysis of in-depth interviews contents. The content analysis of the interviews allows to identify certain similarities and differences between two groups of respondents, distinguished by the status of employment (employees and entrepreneurs) in terms of assessment of the crisis’ impact on enterprises and various businesses, specific of the socio-economic behavior, resources, and adaptation practices. A feature of socio-economic behavior common for both categories is the wait-and-see approach to find out possible prospects of the economy and the labour market. However, respondents in the status of employee are generally characterized by a more confident assessment of prospects of job preservation and income level. Active forms of adaptive behavior are particularly noticed among respondents employed in the area of information and communication technologies. Entrepreneurs tend to combine, on the one hand, a negative assessment of the impact the crisis has on their business, and on the other, the desire to look for new market opportunities, realistically assessing the threats and risks, and to rely on themselves. In the context of the ongoing crisis, the specificity of the population’s socio-economic adaptation is associated not only with the status of employment, but also with the industry specifics, an accumulated portfolio of orders, stability of the client base, and social capital.

Evolutionary Computing in Engineering Design

2011 ◽  
pp. 167-184
Author(s):  
Rajkumar Roy ◽  
Ashutosh Tiwari ◽  
Yoseph Tafasse Azene ◽  
Gokop Goteng
Keyword(s):  
Engineering Design ◽  
Optimal Solution ◽  
Evolutionary Computing ◽  
Conventional Technique ◽  
Substantial Improvement ◽  
Process Time ◽  
Natural Processes ◽  
The Past ◽  
Performance Requirements ◽  
The One

This chapter presents an overview of the application of evolutionary computing for engineering design. An optimal design may be defined as the one that most economically meets its performance requirements. Optimisation and search methods can assist the designer at all stages of the design process. The past decade has seen a rapid growth of interest in stochastic search algorithms, particularly those inspired by natural processes in physics and biology. Impressive results have been demonstrated on complex practical optimisation of several schools of evolutionary computation. Evolutionary computing unlike conventional technique, have the robustness for producing variety of optimal solutions in a single simulation run, giving wider options for engineering design practitioners to choose from. Despite limitations, the act of finding the optimal solution for optimisation problems has shown a substantial improvement in terms of reducing optimisation process time and cost as well as increasing accuracy. The chapter aims to provide an overview of the application of evolutionary computing techniques for engineering design optimisation and the rational behind why industries and researchers are in favor of using it. It also presents the techniques application trend rise in the past decade.

scholarly journals Social Position and Direction of Maritime Society Transformation (Case Study on Community Community Maritime Affairs Bugis Makassar South Sulawesi)

2017 ◽  
Vol 10 (1) ◽  
pp. 1 ◽  
Author(s):  
Eymal B. Demmallino ◽  
M. Saleh S. Ali ◽  
Abd. Qadir Gassing ◽  
Munsi Lampe ◽  
La Nalefo ◽  
...  
Keyword(s):  
Cultural Transformation ◽  
Transformation Process ◽  
Social Position ◽  
Economic Behavior ◽  
Social Pathology ◽  
South Sulawesi ◽  
The Social ◽  
The Government ◽  
The One ◽  
Maritime Community

The study aimed to analyze the social position of the maritime community in the context of maritime economic behavior and attempt to determine the direction for socio-cultural transformation in an effort to build a maritime civilization in State Bugis Makassar South Sulawesi. This study uses Verstehen (qualitative interpretative) to the maritime community's social position and the possibility of choice over the direction of its transformation process. The results showed that the social position the maritime community in the position marked with the mentality of economic behavior kelemah adab ~ karsaan, where on the one hand weak capital owners tend to behave in manners (exploit workers) as a consequence of the influence of capitalism and on the other, workers tend to behave weak intention (not productive, excessive dependence ~ resigned, and consumptive life style) as a consequence of the influence of classical Sufism. Worsened by the presence of modernization (acceleration technology ~ carbide) that are not relevant to the potential maritime and impartiality of policy makers resulting in further social pathology (each claimed), environmental destruction, and the destruction of the local culture. This study merekomendir necessity of directing the transformation of socio-cultural community of the maritime community in efforts to grow ~ develop economic behavior that mentality kekuat adab ~ karsaan as a major foundation in building a maritime civilization. In this effort the government alignments and selection of appropriate technologies to realize it is absolutely necessary.

scholarly journals Assessment of direct and indirect effects of building developments on the environment

2019 ◽  
Vol 9 (1) ◽  
pp. 109-114
Author(s):  
Elżbieta Hanna Szafranko
Keyword(s):  
Complex Analysis ◽  
Objective Assessment ◽  
Optimal Solution ◽  
Point Of View ◽  
Nature Protection ◽  
Building Projects ◽  
Indicator Method ◽  
Considerable Impact ◽  
The One

AbstractAny building construction undertaking is inseparable from the environment in which it will be executed. Among all buildings, the most difficult ones from the point of view of nature protection are those which have been classified as having a considerable impact on the environment. Roads and road infrastructure are a particular case. Construction of roads or railroads and their subsequent long-term use lead to many changes in the environment. When planning such building projects, it is recommended to develop variant solutions in order to choose the one that would be least harmful to the environment, and then to submit them to an objective assessment. To facilitate the selection of an optimal solution, assessment indicators are developed. However, it needs to be remembered that a factor perceived as a negative one in the immediate assessment might generate positive consequences on a broader scale and vice versa. Hence, an assessment of the impacts on the environment caused by building projects should be viewed in the context of indirect (global) and direct (local) effects. This article will present a model analysis of the impacts caused by a fragment of a road, including local and global effects measured by the indicator method. This method has been developed by the author of this article, who believes that it enables the user to make a complex analysis, while the graphic presentation it involves, discussed in the conclusions to this paper, helps to decide easily which factors are decisive in the final assessment of the analysed project.

scholarly journals Minimizing Power Consumption of an Experimental HVAC System Based on Parallel Grid Searching

Energies ◽  
2020 ◽  
Vol 13 (8) ◽  
pp. 2083 ◽  
Author(s):  
Wangqi Xiong ◽  
Jiandong Wang
Keyword(s):  
Power Consumption ◽  
Graphics Processing Units ◽  
Optimization Problem ◽  
Search Algorithm ◽  
Experimental Studies ◽  
Optimal Solution ◽  
Hvac System ◽  
Convex Optimization Problem ◽  
The One ◽  
Graphics Processing

This paper proposes a parallel grid search algorithm to find an optimal operating point for minimizing the power consumption of an experimental heating, ventilating and air conditioning (HVAC) system. First, a multidimensional, nonlinear and non-convex optimization problem subject to constraints is formulated based on a semi-physical model of the experimental HVAC system. Second, the optimization problem is parallelized based on Graphics Processing Units to simultaneously compute optimization loss functions for different solutions in a searching grid, and to find the optimal solution as the one having the minimum loss function. The proposed algorithm has an advantage that the optimal solution is known with evidence as to the best one subject to current resolutions of the searching grid. Experimental studies are provided to support the proposed algorithm.

The Impact of Consumer Loss Aversion on Returns Policies and Supply Chain Coordination

2018 ◽  
Vol 9 (4) ◽  
pp. 1-20 ◽  
Author(s):  
Gulay Samatli-Pac ◽  
Wenjing Shen ◽  
Xinxin Hu
Keyword(s):  
Supply Chain ◽  
Loss Aversion ◽  
Supply Chain Coordination ◽  
Expected Profit ◽  
Lower Price ◽  
Optimal Pricing ◽  
Optimal Price ◽  
Product Return ◽  
Returns Policy ◽  
The Impact

Product return is a common after-sale service. Existing literature has assumed loss neutral consumers, while in practice consumers are often more sensitive to utility losses than gains, i.e., customers are often loss averse. In this paper, we study the impact of such loss aversion on the retailer's optimal pricing and returns policies. We analyze three scenarios where the seller offers no refund, full refund and partial refund for the returned products. Under each scenario, the seller determines the optimal price, quantity, and refund amount (under partial refund case) in order to maximize the expected profit. Our results demonstrate that consumer loss aversion leads a no-refund retailer to charge lower price and order smaller quantity, has no impact on a full-refund retailer, and results in a more lenient returns policy for a partial-refund retailer. We also find contracts that coordinate supply chains selling to loss averse consumers. Therefore, this article sheds some lights on how the management of returns policies should be adapted when consumers are loss averse.

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