scholarly journals Economic Analysis of the Use of VCS2000 for Pork Carcass Meat Yield Grading in Korea

Animals ◽  
2021 ◽  
Vol 11 (5) ◽  
pp. 1297
Author(s):  
Juntae Kim ◽  
Hyo-Dong Han ◽  
Wang Yeol Lee ◽  
Collins Wakholi ◽  
Jayoung Lee ◽  
...  
Keyword(s):  
Economic Analysis ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Feed Consumption ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Labor Costs ◽  
Meat Yield ◽  
The Cost

Currently, the pork industry is incorporating in-line automation with the aim of increasing the slaughtered pork carcass throughput while monitoring quality and safety. In Korea, 21 parameters (such as back-fat thickness and carcass weight) are used for quality grading of pork carcasses. Recently, the VCS2000 system—an automatic meat yield grading machine system—was introduced to enhance grading efficiency and therefore increase pork carcass production. The VCS2000 system is able to predict pork carcass yield based on image analysis. This study also conducted an economic analysis of the system using a cost—benefit analysis. The subsection items of the cost-benefit analysis considered were net present value (NPV), internal rate of return (IRR), and benefit/cost ratio (BC ratio), and each method was verified through sensitivity analysis. For our analysis, the benefits were grouped into three categories: the benefits of reducing labor costs, the benefits of improving meat yield production, and the benefits of reducing pig feed consumption through optimization. The cost-benefit analysis of the system resulted in an NPV of approximately 615.6 million Korean won, an IRR of 13.52%, and a B/C ratio of 1.65.

scholarly journals Guide to cost benefit analysis of community-based interventions

2014 ◽  
Vol 3 (5) ◽  
pp. 47
Author(s):  
Sanni Yaya ◽  
Xiaonan Li
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Community Based Interventions ◽  
Community Based ◽  
Benefit Cost Ratio ◽  
The Cost

This paper offers a general guide on how to conduct a proper economic analysis for community-based intervention projects. Identification and quantification of costs and benefits are the focus of the cost benefit analysis. We categorize costs and benefits from human and physical perspectives and pay special attention to the measures of saving human lives accompanied by the proposed calculation methods. We recommend net present value and benefit-cost ratio as the criteria to assess projects and highlight some challenges remaining in the analysis.

scholarly journals Economic Analysis of an Image-Based Beef Carcass Yield Estimation System in Korea

Animals ◽  
2021 ◽  
Vol 12 (1) ◽  
pp. 7
Author(s):  
Collins Wakholi ◽  
Shona Nabwire ◽  
Juntae Kim ◽  
Jeong Hwan Bae ◽  
Moon Sung Kim ◽  
...  
Keyword(s):  
Economic Analysis ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Labor Cost ◽  
Production Costs ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Gross Margin ◽  
Estimation System

To minimize production costs, reduce mistakes, and improve consistency, modern-day slaughterhouses have turned to automated technologies for operations such as cutting, deboning, etc. One of the most vital operations in the slaughterhouse is carcass grading, usually performed manually by grading staff, which creates a bottleneck in terms of production speed and consistency. To speed up the carcass grading process, we developed an online system that uses image analysis and statistical tools to estimate up to 23 key yield parameters. A thorough economic analysis is required to aid slaughterhouses in making informed decisions about the risks and benefits of investing in the system. We therefore conducted an economic analysis of the system using a cost-benefit analysis (the methods considered were net present value (NPV), internal rate of return (IRR), and benefit/cost ratio (BCR)) and sensitivity analysis. The benefits considered for analysis include labor cost reduction and gross margin improvement arising from optimizing breeding practices with the use of the data obtained from the system. The cost-benefit analysis of the system resulted in an NPV of approximately 310.9 million Korean Won (KRW), a BCR of 1.72, and an IRR of 22.28%, which means the benefits outweigh the costs in the long term.

Environmental costs and their impact on the net present value of a hydro-electric project in Kerala, India

2003 ◽  
Vol 8 (2) ◽  
pp. 311-330 ◽  
Author(s):  
V. Santhakumar ◽  
Achin Chakraborty
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Environmental Costs ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Net Benefit ◽  
Pulp Industry ◽  
The Social ◽  
The Cost

This paper presents the operational procedures involved in incorporating the environmental costs in the cost–benefit analysis of a hydro-electric project. The proposed project, if implemented, would result in the loss of 2,800 hectares of tropical forests and dislocation of two settlements of about 200 families who are currently dependent on the forests for their livelihood. The forests are mainly used for extracting reed – a material used both by traditional artisans and the paper-pulp industry. The potential environmental costs and benefits of the project are identified and approximate estimates of some of these costs are made for items such as carbon sequestration, bio-diversity, and so on, based on similar estimates made elsewhere. These estimated environmental costs are incorporated into the analysis, and the hypothetical estimate of the non-use value, which would make the project's net benefit zero, is estimated under different discount rates. The analysis brings into sharp focus some crucial factors that have a direct bearing on the social trade-off involved in the project choice.

Cost Benefit Analysis of Industrial Noise Regulation

1995 ◽  
Vol 6 (1) ◽  
pp. 105-124 ◽  
Author(s):  
Stephen Holland ◽  
Jean Cross
Keyword(s):  
Occupational Health ◽  
Economic Analysis ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Health And Safety ◽  
Cost Benefit ◽  
Occupational Health And Safety ◽  
Cost Ratio ◽  
Regulatory Change ◽  
Present Value

This paper examines the application of the techniques of economic analysis to occupational health and safety regulations using occupational noise as an example. The paper explores the extent to which economic impact studies are practically feasible and useful in relation to occupational health and safety legislation. Six studies of the same regulatory change, from four countries were analysed. The results of these studies ranged from a strongly negative to a significantly positive net present value, depending on the assumptions made. The factor which had the greatest influence on these differences was the way in which benefits are costed. It is shown that in the field of Occupational Health and Safety, economic analysis does not produce a single valid net present value or benefit to cost ratio on which a decision to legislate can sensibly be based. However the analysis can, if properly directed provide useful information on factors which will enable organisations to optimise their response to the regulation and authorities to introduce regulations in a way which does not bear with unreasonable weight on specific sectors of the community.

scholarly journals Analisis Sistem Pengadaan Kendaraan Dinas Operasional Pemerintah Melalui Sistem Pembelian dan Sewa (Studi Pada Politeknik Negeri Padang)

2020 ◽  
Vol 15 (1) ◽  
pp. 91-101
Author(s):  
Elfitri Santi ◽  
Afridian Wirahadi ◽  
Arif Wahyu Saputra ◽  
Rasyidah Mustika ◽  
Ferdawati
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Research Result ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Present Value ◽  
Analysis Instrument ◽  
The Cost ◽  
Value Of Money

The official goverment vehicles supply demand the goverment allocate fund in carefully and precise based on the needs. The value of money analysis between buy, rent, and leasing to supplying the official vehicles in Polytechnic State’s of Padang. intent on calculating, analyze, and comparing which alternative that make more value of money between the provisions system of buying, renting and leasing. Methods this Research is Qualitative and The analysis instrument that use in this research is Net Present Value Method also calculating the cost benefit analysis . The research examine 3 type or merk that represent the officeholder vehicles, such as Toyota Hiace Commuter, Kijang Innova V A/T, dan Avanza Veloz. The result of this research indicated that officeholder vehicles supplying system through the buying system is has more benefit that follow by the leasing system and the renting system. This research result could be a reference for Goverment in choosing supplying system of officeholder vehicles in Padang State’s Polytechnic.

scholarly journals THE FINANCIAL IMPLICATIONS OF BODABODA TRANSPORT BUSINESS AMONG YOUTHS IN ARUSHA- COST BENEFIT ANALYSIS

2020 ◽  
Vol 7 (4) ◽  
pp. 177-185
Author(s):  
Kepha Luvinga ◽  
Simon Kilasara
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Present Value ◽  
Benefit Cost Ratio ◽  
Transport Services ◽  
Arusha Region ◽  
Benefit Cost

ABSTRACT This study reports upon the findings on the cost and profitability of bodaboda transport business among youths in Arusha. As used in this study, the term bodaboda applies for a two wheeled motorized taxi which provides ‘for hire’ type transport services to passengers and goods. The bodaboda have became an employment opportunity to many unskilled urban labour and further job opportunity to informal sector workers who wish to switch jobs in search of higher rewards. The questionnaires were used to collect data to 90 respondents from two districts of Arusha region namely Arusha and Meru district. Data analysis was done using descriptive statistics and cost benefit analysis. The finding from the study indicates that the bodaboda transport business is profitable with the benefit cost ratio (BCR) of 2.8 and the net present value (NPV) of 8,494,920Tsh for five years project duration. By having the benefit cost ratio and the net present value greater than 1, the bodaboda business is profitable and worth being undertaken. Based on the findings from the study it is recommended that the government authorities and all key stakeholders should regulate, and support the implementation of bodaboda bussiness through formalization of bodaboda associations, assurance of financial supports and capacity building to youths who engage or willing to engage in the business.

scholarly journals Economic Evaluation of Seoul City's Bus-Only-Lane Project

2005 ◽  
Vol 6 (2) ◽  
pp. 85-99
Author(s):  
Yooyeon Noh ◽  
Kye Woo Lee
Keyword(s):  
Economic Evaluation ◽  
Net Present Value ◽  
Travel Demand ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Ratio ◽  
Policy Recommendations ◽  
Benefit Analysis ◽  
Metropolitan Government ◽  
Private Vehicle

Following the suit of some other countries, the Seoul Metropolitan Government has ambitiously implemented the bus-only-lane (BOL) system as one of the new transportation reform plans. However, it does not seem that the project has achieved its primary goal of reducing the number of private vehicle drivers, and that the project is economically viable. This paper reports the results of an economic evaluation of Samil-Ro Bus-Only-Lane project, one of the representative BOLs in Seoul. It estimates travel demand both with and without project in order to examine the achievement of the project's goal of shifting private vehicle travelers to the reformed bus system. To test the project's economic viability, the paper also conducts a cost-benefit analysis by calculating the discounted net present value (NPV), internal rate of return (IRR), and benefit and cost ratio (B/C). Moreover, both the project's uncertainty and sustainability have been checked through the sensitivity and risk analysis and the environmental degradation effects test, respectively. In the conclusion, the paper also provides policy recommendations.

scholarly journals Cost Benefit Analysis of the Exploitation of Several Important Natural Resources in the Coastal Zone in Binh Thuan Province

2017 ◽  
Vol 33 (3) ◽  
Author(s):  
Xuyến Dương Thanh
Keyword(s):  
Coastal Zone ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Mineral Resources ◽  
Benefit Analysis ◽  
Present Value ◽  
Aquatic Resources ◽  
Tourism Resources ◽  
The Cost

 The cost benefit analysis (CBA) is a method of identifying and comparing the costs and benefits of a program, policy, or project to evaluate a project that increases or decreases economic welfare of society. CBA has the role of providing information for: 1/ Decide whether to invest in the project; 2/ Provide a basis for comparing options for selecting a project. The indicator used for calculation include: - Net Present Value, Net Present Value (NPV) is the net present value of the net benefit over the years converted to the monetary value of the base year. According to the discount rate (r), and the lifetime of the project – called t (years) to convert the cash flow and cost base year. If NPV value> 0, the project will be done, take back profit. If the NPV <0, project should not be done because it will make environmental damage, human health in society is more than economic benefit that prevention. According to calculation, investing tourist projects, fisheries exploitation projects, and wind electricity construction have positive NPV. Given that the Titan mining project has sound of NPV, the damage will hurt the society more than the business benefits of selling the product.    The coastal resources of Binh Thuan Province are divided into five outstanding groups, of which four are: (1) Titan mineral resources; (2) tourism resources; (3) fishery resources; (4) Energy resources and (5) Sub-categories include resources such as forest resources, land resources and water resources. In order to assess the value of specific types of resources in Binh Thuan's coastal zone, it is possible to select three types of resources to calculate the cost of benefits in the exploitation process for socio-economic development, namely tourism resource exploitation, mineral resources exploitation and exploitation of aquatic resources. The results show that the exploitation of tourism resources and exploitation of aquatic resources has the NPV> 0 value, while exploiting NPV <0

scholarly journals Economic Impact and Cost Benefit of the Inpatient Clinical Pharmacist Interventions in Cancer Care Units

2022 ◽  
Author(s):  
Dina Abushanab ◽  
Amaal Gulied ◽  
Anas Hamad ◽  
Palli Valappila Abdul Rouf ◽  
Moza Al Hail ◽  
...  
Keyword(s):  
Clinical Pharmacist ◽  
Cancer Care ◽  
Cost Benefit Analysis ◽  
Cost Savings ◽  
Cost Benefit ◽  
Therapeutic Interventions ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Net Benefit ◽  
The Cost

Abstract Background: Clinical pharmacists play a key role in ensuring the optimum use of cancer medicines. Yet, the economic benefit of this role has never been assessed in Qatar. Aim: To evaluate the overall economic impact of clinical pharmacist interventions in the main cancer care setting in Qatar. Methods: From the public healthcare perspective, this was an analysis of the total economic benefit and a cost-benefit analysis of the clinical pharmacy interventions. As a study sample size, patient records in March 2018, July/August 2018, and January 2019 were retrospectively reviewed at the National Center for Cancer Care & Research (NCCCR), Qatar. The total benefit from interventions was the total of the cost avoidance due to preventable adverse drug events (ADEs) plus the cost savings associated with therapeutic interventions. The interventions cost was based on salary and increased cost due to therapeutic interventions. The cost-benefit analysis results were presented via net benefit and benefit‐to‐cost ratio measures. Results : Total of 1,352 interventions occurred during the 3-month follow-up period. The total benefit was QAR 196,010,360 (USD53,834,206), constituting cost avoidance of QAR 194,764,534 (USD 53,492,040) and cost savings of QAR 1,245,826 (USD 342,166), mostly due to recommending additional medications and the medication dose reduction. The benefit-to-cost ratio was 174:1 and the annual net benefit was QAR 779,539,440 (USD 214,100,351). Sensitivity analyses confirmed the robustness of results. Conclusion: The clinical pharmacist intervention is a cost-beneficial practice in the NCCCR setting, associated with ADEs prevention and substantial economic benefits, including relative to the interventions cost.

Cost-Benefit Analysis for Ship Automation Retrofit: The Case of Icebreaker Frej

2005 ◽  
Vol 42 (02) ◽  
pp. 113-124 ◽  
Author(s):  
D. V. Lyridis ◽  
H. N. Psaraftis ◽  
N. Ventikos ◽  
P. Zacharioudakis ◽  
K. Dilzas
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Advanced Technology ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Present Value ◽  
Factors Affecting ◽  
Advantages And Disadvantages ◽  
The Cost

A detailed cost-benefit analysis of a retrofit of the Advanced Technology to Optimise Maritime Operational Safety (ATOMOS) platform on board icebreaker Frej is presented. After accurately determining the relationship between the costs and benefits, an analysis is implemented in order to assess the most basic advantages and disadvantages of the suggested retrofitting action in monetary terms. A two-step approach is adopted. The first step is to define the major categories of the ship operational aggregate costs and benefits (for example, the actual cost of the ATOMOS platform and of equipment not part of the ATOMOS platform but still necessary for its installation and operation, or the expected crew decrease because of the higher degree of automation). The second step is to examine the various basic components of these categories (for example, administration and training cost, required automatic radar plotting aid [ARPA] and electronic chart display and information system [ECDIS] equipment acquisition cost, fuel benefits, and insurance benefits). The cost-benefit analysis performed is followed by a sensitivity analysis of the most important factors affecting the net present value of the investment. It is shown that it takes about 5 years for the ATOMOS retrofit to be fully paid back by the annual savings it offers and it takes about 6.5 years for the net present value of the investment to turn positive. This coupled by the increased vessel safety justifies the decision to retrofit Frej with the ATOMOS platform. Furthermore, it is found that the cost of the ATOMOS platform, the benefits from crew decrease, and the interest rate are those factors that essentially determine the profitability of the investment. In the case of Frej, it is concluded that the retrofit is worth undertaking for the majority of future scenarios.

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