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Article
Publication date: 3 October 2016

Michal Sobolewski, Norbert Grzesik, Zbigniew Koruba and Michal Nowicki

Nowadays, various methods of observation from unmanned aerial vehicles (UAV) are being widely developed. There are many ways of increasing the amount of information…

Abstract

Purpose

Nowadays, various methods of observation from unmanned aerial vehicles (UAV) are being widely developed. There are many ways of increasing the amount of information retrieved from captured material. Unfortunately, hardware solutions consume a lot of energy, which is unacceptable in UAV applications, as it can have direct impact on the observing time on UAV. Those kinds of problems have been identified during the development phase of stabilizing platform in Polish Research Space Centre in Warsaw. As a result of that fact, energy saving control methods have been implemented, which estimates quality of stabilization process for the observation-tracking device (OTD).

Design/methodology/approach

Mathematical model has been designed and validated with real-life experiments for the purpose of optimization of stabilization and control process. Two types of controlling algorithms have been implemented: linear quadratic regulator and proportional derivative method for driving the mechanism. Based on numerical simulations of the mechanical model being controlled by the mentioned driver, it was possible to define membership functions. After the process of defuzzification, the controller predicts quality of stabilization under defined environmental working conditions.

Findings

An autonomous energy saving system has been created that can be implemented in many applications, where environmental conditions may change significantly.

Practical implications

To test the proposed fuzzy controller, OTD has been chosen as an example object of application. It is a mechanical platform which houses the optical observation system. It is designed to provide the best working conditions during flight.

Originality/value

That kind of decision-making unit has never been implemented before during observations which were carried out during flying of an object. That innovative controller should bring significant energy consumption savings.

Details

Aircraft Engineering and Aerospace Technology, vol. 88 no. 6
Type: Research Article
ISSN: 1748-8842

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Article
Publication date: 9 July 2021

Mohsen Sadeghi Dastaki, Abbas Afrazeh and Masoud Mahootchi

Over the past years, many studies have explored the role of knowledge management (KM) in companies. KM is concerned with the measurement of knowledge to manage knowledge…

Abstract

Purpose

Over the past years, many studies have explored the role of knowledge management (KM) in companies. KM is concerned with the measurement of knowledge to manage knowledge efficiently. On the other hand, the intangible nature of knowledge makes its measurement challenging. Furthermore, there is no standardized method to measure knowledge, and it is chiefly measured based on the subjective judgment of researchers. Moreover, New Product Development (NPD) departments in many companies strive to assess their knowledge in terms of company products and knowledge workers. Hence, this study aims to propose a product-based two-phase technique that measures the company knowledge inventory.

Design/methodology/approach

In the first phase, the value of knowledge is quantified relative to products, knowledge workers and the entire company using two concepts of knowledge width and depth. Then, a three-dimensional knowledge asset map (knowledge, products and knowledge worker dimensions) is designed to assess and audit knowledge workers. Finally, this technique recruits an integer linear programming model with a cost minimization objective function to optimize the supply of NPD knowledge requirements in the second phase.

Findings

This model enables managers to determine what type of knowledge can be supplied by existing knowledge workers, whether within the company or by other external sources.

Originality/value

Among existing knowledge measurement methods, only a few use a product-based measuring technique. However, they fail to offer suitable scenarios for managers' decision-making process and consider cost structures in measurement techniques. Hence, this paper attempts to overcome these drawbacks.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 22 July 2021

Mahasweta Saha and Sangeeta Sahney

The purpose of this study is to examine the relationships between the dimensions of the pre-purchase information search (PS) such as direction (reliance on the information…

Abstract

Purpose

The purpose of this study is to examine the relationships between the dimensions of the pre-purchase information search (PS) such as direction (reliance on the information sources-RIS) and pattern (reliance on the utilitarian value-RUV), moderating role of the online shopping experience (OSE), and their influence on the behavior of the socialization agents (family communication (FC), peer communication (PC), TV advertising-TVAdv, social media communication (SMC)) for buying branded apparel.

Design/methodology/approach

This study used a questionnaire, and a total of 458 responses were obtained. A measurement model with the dimensions of the pre-purchase information search and socialization agents was analyzed using confirmatory factor analysis. The conceptual model with hypotheses (direct and moderated effects) was analyzed using a moderated approach using Hayes Macros.

Findings

The findings confirm the significant influence of the dimensions of the PS (RIS and RUV) on the behavior of socialization agents for buying branded apparel with the strongest influence of RIS on SMC. The moderated effects of OSE between the dimensions of PS and socialization agents are found to be significant except for the relationship between RIS and FC. The direct effects of the RIS and RUV on the socialization agents are higher for consumers having high OSE and lower for consumers having low OSE.

Originality/value

The findings contribute to the growing body of literature on the PS, highlighting the importance of consumer socialization for the purchase decision of consumers in emerging markets. No previous studies have applied a psychological approach to explain the variation in the external search incorporating the dimensions like direction (RIS) and pattern (RUV), which did not receive research attention so far. This study uniquely sets a new direction for the researchers by establishing a theoretical linkage between the dimensions of PS that can act as antecedents and can significantly influence the behavior of socialization agents using the consumer socialization approach based on the social learning theory. The results reveal the strongest influence of SMC and establish the moderating role of OSE for the buying decision of branded apparel. The findings are valuable for online marketers who must acknowledge that social media is the strongest platform for reaching customers and must create a formal page for displaying their latest updates about their products and services. Marketers must engage all the family members through online contests and feedback sessions for developing trust for online shopping platforms.

Details

Internet Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1066-2243

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Article
Publication date: 26 July 2021

Ehsan Mohebban-Azad, Amir-Reza Abtahi and Reza Yousefi-Zenouz

This study aims to design a reliable multi-level, multi-product and multi-period location-inventory-routing three-echelon supply chain network, which considers disruption…

Abstract

Purpose

This study aims to design a reliable multi-level, multi-product and multi-period location-inventory-routing three-echelon supply chain network, which considers disruption risks and uncertainty in the inventory system.

Design/methodology/approach

A robust optimization approach is used to deal with the effects of uncertainty, and a mixed-integer nonlinear programming multi-objective model is proposed. The first objective function seeks to minimize inventory costs, such as ordering costs, holding costs and carrying costs. It also helps to choose one of the two modes of bearing the expenses of shortage or using the excess capacity to produce at the expense of each. The second objective function seeks to minimize the risk of disruption in distribution centers and suppliers, thereby increasing supply chain reliability. As the proposed model is an non-deterministic polynomial-time-hard model, the Lagrangian relaxation algorithm is used to solve it.

Findings

The proposed model is applied to a real supply chain in the aftermarket automotive service industry. The results of the model and the current status of the company under study are compared, and suggestions are made to improve the supply chain performance. Using the proposed model, companies are expected to manage the risk of supply chain disruptions and pay the lowest possible costs in the event of a shortage. They can also use reverse logistics to minimize environmental damage and use recycled goods.

Originality/value

In this paper, the problem definition is based on a real case; it is about the deficiencies in the after-sale services in the automobile industry. It considers the disruption risk at the first level of the supply chain, selects the supplier considering the parameters of price and disruption risk and examines surplus capacity over distributors’ nominal capacity.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 12 July 2021

Mohammad Esmaeil Nazari and Mahsa Zarrini Farahmand

The purpose of this study is to solve the optimal operation strategy problem of plug-in electric vehicles (PEV) parking as a demand response (DR) program and hydro storage…

Abstract

Purpose

The purpose of this study is to solve the optimal operation strategy problem of plug-in electric vehicles (PEV) parking as a demand response (DR) program and hydro storage as an energy storage system in a smart grid environment using a heuristic algorithm.

Design/methodology/approach

Studying the smart grid with DR, renewable energy resources and energy storage systems is necessary. To do this, the heuristic optimization algorithm is developed to solve the scheduling problem. This deterministic algorithm benefits from the definition of appropriate fitness functions.

Findings

For validation, it is shown that reduction of 1.1%–12.5% in pollution and 8.8%–34.8% in total cost are achieved, as compared with literature. Also, the suggested operation strategy of PEVs parking and hydro storage results in reducing the total cost by 6.21%.

Originality/value

DR programs such as PEV parking play a major role in smart grid developments. Also, energy storage systems such as hydro storage lead to better performance of distributed generations and lower costs and pollution by thermal units. However, based on the literature, the effects of PEV parking and hydro storage on smart grid operation strategy are not considered. Therefore, contributions of this study are: effects of hydro storage on the smart grid are considered, effects of PEV parking on the smart grid are considered, a heuristic algorithm is developed to solve operation strategy problem for PEV parking and hydro storage in a smart grid environment.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 27 July 2021

Prem Chhetri, Mahsa Javan Nikkhah, Hamed Soleimani, Shahrooz Shahparvari and Ashkan Shamlou

This paper designs an optimal closed-loop supply chain network with an integrated forward and reverse logistics to examine the possibility of remanufacturing end-of-life…

Abstract

Purpose

This paper designs an optimal closed-loop supply chain network with an integrated forward and reverse logistics to examine the possibility of remanufacturing end-of-life (EoL) ships.

Design/methodology/approach

Explanatory variables are used to estimate the number of EoL ships available in a closed-loop supply chain network. The estimated number of EoL ships is used as an input in the model and then it is solved by a mixed-integer linear programming (MILP) model of the closed-loop supply chain network to minimise the total logistic costs. A discounted payback period formula is developed to calculate the length of time to recoup an investment based on the investment's discounted cash flows. Existing ship wrecking industry clusters in the Western region of India are used as the case study to apply the proposed model.

Findings

The MILP model has optimised the total logistics costs of the closed-loop supply network and ascertained the optimal number and location of remanufacturing for building EoL ships. The capital and variable costs required for establishing and operating remanufacturing centres are computed. To remanufacture 30 ships a year, the discounted payback period of this project is estimated to be less than two years.

Practical implications

Ship manufacturing businesses are yet to re-manufacture EoL ships, given high upfront capital expenditure and operational challenges. This study provides management insights into the costs and benefits of EoL ship remanufacturing; thus, informing the decision-makers to make strategic operational decisions.

Originality/value

The design of an optimal close loop supply chain network coupled with a Bayesian network approach and discounted payback period formula for the collection and remanufacturing of EoL ships provides a new integrated perspective to ship manufacturing.

Details

The International Journal of Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-4093

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Article
Publication date: 22 July 2021

Rui Xiang, Colin Jones, Rogemar Mamon and Marierose Chavez

This paper aims to put forward and compare two accessible approaches to model and forecast spot prices in the fishing industry. The first modelling approach is a…

Abstract

Purpose

This paper aims to put forward and compare two accessible approaches to model and forecast spot prices in the fishing industry. The first modelling approach is a Markov-switching model (MSM) in which a Markov chain captures different economic regimes and a stochastic convenience yield is embedded in the spot price. The second approach is based on a multi-factor model (MFM) featuring three correlated stochastic factors.

Design/methodology/approach

The two proposed approaches are analysed in terms of parameter-estimation accuracy, information criteria and prediction performance. For MSM’s calibration, the quasi-log-likelihood method was applied directly while for the MFM’s parameter estimation, this paper designs an enhanced multi-variate maximum likelihood method with the aid of moments matching. The numerical experiments make use of both simulated and actual data compiled by the Fish Pool ASA. Data on both the Fish Pool’s forwards and Norwegian T-bill yields were additionally used in the MFM’s implementation.

Findings

Using simulated data sets, the MSM estimation gives more accurate results than the MFM estimation in terms of the norm in $l^2$ between the “true” and “computed” parameter estimates and significantly lower standard errors. With actual data sets used to evaluate the forecast values, both approaches have similar performances based on the error analysis. Under some metrics balancing goodness of fit and model complexity, the MFM outperforms the MSM.

Originality/value

With the aid of simulated and observed data sets examined in this paper, insights are gained concerning the appropriateness, as well as the benefits and weaknesses of the two proposed approaches. The modelling and estimation methodologies serve as prelude to reliable frameworks that will support the pricing and risk management of derivative contracts on fish price evolution, which creates price risk transfer mechanisms from the fisheries/aquaculture sector to the financial industry.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 22 July 2021

Bernd Engelmann

The purpose of this article is to derive formulas for lifetime expected credit loss of loans that are required for the calculation of loan loss reserves under IFRS 9. This…

Abstract

Purpose

The purpose of this article is to derive formulas for lifetime expected credit loss of loans that are required for the calculation of loan loss reserves under IFRS 9. This is done both for fixed-rate and floating rate loans under different assumptions on LGD modeling, prepayment, and discount rates.

Design/methodology/approach

This study provides exact formulas for lifetime expected credit loss derived analytically together with the mathematical proofs of each expression.

Findings

This articles shows that the formula most commonly applied in the literature for calculating lifetime expected credit loss is inconsistent with measuring expected loss based on expected discounted cash flows. Formulas based on discounted cash flows always lead to more conservative numbers.

Practical implications

For banks reporting under IFRS 9, the implication of this research is a better understanding of the different approaches used for computing lifetime expected loss, how they are connected, and what assumptions are underlying each approach. This may lead to corrections in existing frameworks to make applications of risk management systems more consistent.

Originality/value

While there is a lot of literature explaining IFRS 9 and evaluating its impact, none of the existing research has systematically analyzed the calculation of lifetime expected credit loss for this purpose and how the formula changes under different modeling assumptions. This gap is filled by this study.

Details

The Journal of Risk Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 21 July 2021

Kurt Rachlitz, Benjamin Grossmann-Hensel and Ronja Friedl

In this paper, the authors aim to clarify the relationship between organization and society. They argue that the proliferation of organization in modernity has not yet…

Abstract

Purpose

In this paper, the authors aim to clarify the relationship between organization and society. They argue that the proliferation of organization in modernity has not yet been properly understood in light of the absence of organization in premodern times. The authors therefore ask: Why do organizations proliferate? Why do they proliferate in such manifold organizational forms? And how can these heterogeneous forms nevertheless be related to a common problem to which organizations provide a solution? A comparative historical analysis based on the theory of social systems reveals that organizations fill a gap which the decline of morality as an integrative success medium created.

Design/methodology/approach

The paper develops a conceptual framework focusing on the theory of media within Luhmann’s theory of social systems as a point of departure. The authors discuss the concept of “interpenetration” to assess the relation between morality and organization. They raise several follow-up questions for future empirical research, most prominently pertaining to the relationship between organization and digitalization.

Findings

The main finding is that morality can be conceptualized as a specific success medium (alongside religion and symbolically generalized communication media) which used to structure premodern societies by means of social and interhuman interpenetration at once. Modern society instead employs two differentiated forms of interpenetration: Social interpretation through organizations and interhuman interpenetration through love relationships. These centripetal counterforces help to mediate the centrifugal forces unleashed by the full development of modern success media. Modern society critically depends on the proliferation of organizations.

Originality/value

This paper examines the relationship between morality and organization not from the perspective of interaction or organization, but from the perspective of society. This approach provides novel insights in that it opens up promising avenues of comparison between organization and other social forms. Understanding the distinctively modern “success story” of organization as a social form makes it possible to ask about corresponding potentials and limitations, but also alternative possibilities. In doing so, the authors depart from most studies of organizations grounded in social systems theory as the authors primarily focus on Luhmann’s theory of media (as opposed to the theory of differentiation).

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 26 July 2021

Ruihuan Liu, Chunqiao Tan and Chengwei Zhao

Vaccine safety is a major issue in the world. Blockchain technology is the right solution to this worldwide problem. The impact of introducing blockchain technology on the…

Abstract

Purpose

Vaccine safety is a major issue in the world. Blockchain technology is the right solution to this worldwide problem. The impact of introducing blockchain technology on the operational efficiency of the vaccine supply chain is unclear. Therefore, from the perspective of game theory, this paper aims to construct a vaccine supply chain model consisting of a vaccine manufacturer, a vaccine traceability service platform based on blockchain technology and a vaccination unit to discuss its pricing and coordination.

Design/methodology/approach

This study analyzes the pricing and coordination of the vaccine supply chain based on blockchain technology, compares the decision-making of fixed charge scenario and proportional charge scenario and reveals the impact of blockchain on the vaccine supply chain.

Findings

Results demonstrate that the revenue-sharing contract can coordinate the vaccine supply chain when the proportion of revenue sharing meets certain conditions. The fixed charge scenario is more beneficial to the vaccine supply chain than the proportional charge scenario. The introduction of blockchain technology increases the total profit, consumer surplus and social welfare of the vaccine supply chain. Therefore, the operational efficiency of the vaccine supply chain is improved.

Originality/value

This study not only provides important support for enterprises to adopt blockchain technology but also provides some guidance for decision-makers to implement scientific and feasible vaccine supply chain management schemes.

Details

Internet Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1066-2243

Keywords

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