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This study aims to examine the value of the call option contract in hedging the risks in the supply chain. The decentralized supply chain without call option contract is first studied as the criterion model for evaluations. This paper addresses several questions: What will be the optimal manufacturer’s production quantity, retailer’s ordering and pricing policies in the presence of random demand and random yield by applying the downconversion approach? How will the call option contract influence the optimal decisions for the members of the supply chain? Can the risk from randomness be divided among the members in the supply chain through the call option contract?

This paper considers a two-level decentralized supply chain under random yield and random demand in which the manufacturer takes advantage of the downconversion approach with two scenarios, with and without option contract. To the best of the authors’ knowledge, no article or study uses the downconversion approach in a supply chain regarding random yield and random demand. Furthermore, the paper considers pricing with option contract in the supply chain, which makes this article stands out significantly from other articles in the literature.

This study shows that the downconversion approach would reduce the risk caused by the random yield, which appears to be the appropriate method for the environmental goal of the supply chains. Moreover, adopting a call option contract can increase flexibility and mitigate risks, resulting in more expected members’ profits.

To simplify the model, the authors assume one manufacturer and one retailer, so extending the model to consider multiple retailers instead of one retailer and inventory sharing between them would be interesting. Considering the option and exercise prices as decision variables would be important future research topics. Put option and bidirectional option contracts could be investigated in the future. Another extension is modeling asymmetry of information in supply chain.

This paper provides managerial insights on dealing with both demand and yield risks in a manufacturer–retailer supply chain. The manufacturer has a random yield production and produces two types of vertical products: low-end and high-end. To reduce waste caused by the random yield, the manufacturer uses a downconversion approach in which low-end products are made by converting the defective high-end products. The manufacturer purchased a shortage of high-end products from the secondary market (i.e. emergency sourcing). High-end products are sold through the retailer, and low-end products are sold directly by the manufacturer. The customer demand for high-end products in the end market is random and depends on the selling price, and the customer demand for the low-end products in the secondary market is independent and random. The retailer contracts the manufacturer with the call option to obtain high-end products to meet a random demand; in fact, by using the call option contract, the authors try to balance the risks between two members. Two scenarios of with and without call option contract are proposed. After the high-end product demand is observed, the retailer would exercise the option order quantity in the call option contract scenario and then place an instant order with the manufacturer if necessary. In each scenario, the manufacturer and the retailer make their decisions simultaneously (static game) to determine the retailer’s optimal ordering and pricing policies and the optimal production quantity of the manufacturer (Nash equilibrium) by maximizing their expected profits. Finally, the impact of the model parameters on the supply chain is expressed through numerical examples. The numerical analysis shows that the call option contract provides greater profit than the wholesale price contract.

In the measurement of liquid density and viscosity, the change of resonance parameters due to the parasitic parallel capacitance of resonator affects the measurement accuracy. To improve the accuracy, a method was proposed to compensate the parasitic parallel capacitance of resonator by adding an electrode.

The new electrode (compensation electrode) was added into resonant sensor to make compensation capacitance. The closer the compensation capacitance was to the parasitic parallel capacitance, the better compensation was. The structural parameters of resonant sensor with the compensation electrode were determined by the simulation and experiment.

The effect of this method was examined by the experiment. The relative errors of density and viscosity were less than 0.15, 0.5 % and standard deviations were less than 0.0004 g/cm³ and 0.005 mPas, respectively.

The experimental results show that this method is valuable for the parasitic parallel capacitance compensation of immersed resonant sensor.

This paper has not been published in other journals.

This study aims to measure the acceptance of digital resources by integrating knowledge management (KM) factors (i.e. acquisition, sharing, application and protection) into the factors of the technology acceptance model (TAM) (i.e. perceived ease of use and perceived usefulness) and their impact on actual system use through behavioural intention.

Using the quantitative research method, a survey was conducted of the public sector universities of Punjab, Pakistan. Data were collected from postgraduate students and analysed using partial least squares structural equation modelling.

The findings showed that the factors of KM with the integration of TAM significantly impact the acceptance of digital resources. The study’s hypotheses are all supported, and the findings demonstrated that knowledge acquisition, knowledge sharing, knowledge application and knowledge protection significantly influenced perceived usefulness and perceived ease of use, and that these factors are positively correlated with behavioural intentions to use digital resources.

This study has considerable significant implications for policymakers, developers and practitioners in designing digital resources. This study will also assist librarians to discover areas for development that may enhance the use of digital resources among users

This study aims to discuss the simultaneous longitudinal and lateral flight control of the octorotor, a rotary wing unmanned aerial vehicle (UAV), for the first time under the effect of morphing and to improve autonomous flight performance.

This study aims to design and control the octorotor flight control system with stochastic optimal tuning under morphnig effect. For this purpose, models of different arm lengths of the octorotor were drawn in the Solidworks program. The morphing was carried out by simultaneously lengthening or shortening the arm lengths of the octorotor. The morphing rate was estimated by using simultaneous perturbation stochastic approximation (SPSA). The stochastic gradient descent algorithm, which is frequently used in machine learning, was used to estimate the changing moments of inertia with the change of arm lengths. The proportional integral derivative (PID) controller has been preferred as an octorotor control algorithm because of its simplicity of structure. The PID gains required to control both longitudinal and lateral flight were also estimated with SPSA.

With SPSA, three longitudinal flight PID gains, three lateral flight PID gains and one morphing ratio were estimated. PID gains remained within the limits set for SPSA, giving satisfactory results. In addition, the cost index created was 93% successful. The gradient descent algorithm used for the moment of inertia estimation achieved the optimum result in 1,570 iterations. However, in the simulations made with the obtained data, longitudinal and lateral flight was successfully carried out.

Octorotor longitudinal and lateral flight control was performed quickly and effectively with the proposed method. In addition, the desired parameters were obtained with the optimization methods used, and the longitudinal and lateral flight of the octorotor was successfully carried out in the desired trajectory.

This study aims to intend and implement the optimal power flow, where tuning the production cost is done with the inclusion of stochastic wind power and different kinds of flexible AC transmission systems (FACTS) devices. Here, the speed with fitness-based krill herd algorithm (SF-KHA) is adopted for deciding the FACTS devices’ optimal sizing and placement integrated with wind power. Here, the modified SF-KHA optimizes the sizing and location of FACTS devices for attaining the minimum average production cost and real power depletions of the system. Especially, the objective includes reserve cost for overestimation, cost of thermal generation of the wind power, direct cost of scheduled wind power and penalty cost for underestimation. The efficiency of the offered method over several popular optimization algorithms has been done, and the comparison over different algorithms establishes proposed KHA algorithm attains the accurate optimal efficiency for all other algorithms.

The proposed FACTS devices-based power system with the integration of wind generators is based on the accurate placement and sizing of FACTS devices for decreasing the actual power loss and total production cost of the power system.

Through the cost function evaluation of the offered SF-KHA, it was noted that the proposed SF-KHA-based power system had secured 13.04% superior to success history-based adaptive differential evolution, 9.09% enhanced than differential evolution, 11.5% better than artificial bee colony algorithm, 15.2% superior to particle swarm optimization and 9.09% improved than flower pollination algorithm.

The proposed power system with the accurate placement and sizing of FACTS devices and wind generator using the suggested SF-KHA was effective when compared with the conventional algorithm-based power systems.

Academic research has intensively analyzed the relationship between market concentration or market power and banking stability but provides ambiguous results, which are summarized under the concentration-stability/fragility view. We provide empirical evidence that the mixed results are due to the difficulty of identifying reliable variables to measure concentration and market power.

Using data from 3,943 banks operating in the European Union (EU)-15 between 2013 and 2020, we employ linear regression models on panel data. Banking market concentration is measured by the Herfindahl–Hirschman Index (HHI), and market power is estimated by the product-specific Lerner Indices for the loan and deposit market, respectively.

Our analysis reveals a significantly stability-decreasing impact of market concentration (HHI) and a significantly stability-increasing effect of market power (Lerner Indices). In addition, we provide evidence for a weak (or even absent) empirical relationship between the (non)structural measures, challenging the validity of the structure-conduct-performance (SCP) paradigm. Our baseline findings remain robust, especially when controlling for a likely reverse causality.

Our results suggest that the HHI may reflect other factors beyond market power that influence banking stability. Thus, banking supervisors and competition authorities should investigate market concentration and market power simultaneously while considering their joint impact on banking stability.

Pre-positioning and distributing relief items are important parts of disaster management as it simultaneously considers activities from both pre- and post-disaster stages. This study aims to address this problem with a novel mathematical model.

In this research, a bi-objective mixed-integer linear programming model is developed to tackle pre-positioning and distributing relief items, and it is formulated as an integrated location-allocation-routing problem with uncertain parameters. The humanitarian supply chain consists of relief facilities (RFs) and demand points (DPs). Perishable and imperishable relief commodities (RCs), different types of vehicles, different transportation modes, a time window for delivering perishable commodities and the occurrence of unmet demand are considered. A scenario-based game theory is applied for purchasing RCs from different suppliers and an integrated best-worst method-technique for order of preference by similarity to ideal solution technique is implemented to determine the importance of DPs. The proposed model is used to solve several random test problems for verification, and to validate the model, Iran’s flood in 2019 is investigated as a case study for which useful managerial insights are provided.

Managers can effectively adjust their preferences towards response time and total cost of the network and use sensitivity analysis results in their decisions.

The model locates RFs, allocates DPs to RFs in the pre-disaster stage, and determines the routing of RCs from RFs to DPs in the post-disaster stage with respect to minimizing total costs and response time of the humanitarian logistics network.

The supply chain (SC) of the fast-moving consumer goods (FMCG) sector in India witnessed a significant change soon after introducing the Goods and Services Tax (GST). With the initiation of this tax, companies started moving from individual state-wise warehouses to consolidation warehouses model to save costs. This paper proposes a model that frames a mathematical formulation to optimize the distribution network in the downstream SC by considering the complexities of multi-product lines, multi-transport modes and consolidated warehouses.

The model is designed as mixed-integer linear programming (MILP), and an algorithm is developed that works on the feedback loop mechanism. It optimizes the transportation and warehouses rental costs simultaneously with impact analysis.

Total cost is primarily influenced by the critical factor transportation price rather than the warehouse rent. The choice of warehouses at prime locations was a trade-off between a lower distribution cost and higher rent tariffs.

The study enables FMCG firms to plan their downstream SC efficiently and to be in line with the recent trend of consolidation of warehouses. The study will help SC managers solve complexities such as multi-product categories, truck selection and consolidation warehouse selection problems and find the optimum value for each.

The issues addressed in the proposed work are transporting products with different sizes and weights, selecting consolidated warehouses, selecting suitable vehicles for transportation and optimizing distance in the distribution network by considering consolidated warehouses.

The investigation concentrated on studying a distinct category of tubular heat exchanger that uses swirling airflow over tube bundle maintained at constant heat flux. Swirl flow is achieved using a novel perforated baffle plate with rectangular openings and multiple adjustable opposite-oriented saw-tooth flow deflectors. These deflectors were strategically placed at the inlet of the heat exchanger to create a swirling flow downstream.

The custom-built axial flow heat exchanger consists of three baffle plates arranged longitudinally supporting tube bundle maintained at constant heat flux. The baffle plate equipped with saw-tooth flow deflector of various geometry represented by space height ratio(e/h). Next, ambient air was then directed over the tube bundle at varying Reynolds number and the effect of baffle spacing (PR), Space height ratio (e/h) and inclination angle(a) of deflectors on performance of heat exchanger was experimentally analyzed.

The heat transfer augmentation of heat exchanger for given operating condition is strongly dependent on geometry, inclination angle of deflector and baffle spacing.

An average improvement of 1.42 times in thermal enhancement factor was observed with inclination angle of 30°, space height ratio of 0.4 and a pitch ratio of 1.2 when compared to a heat exchanger without a baffle plate under similar operating conditions.

Financial inclusion and digital finance go side by side and help enhance agricultural activities; however, the magnitude of digital financial services varies across countries. In line with this argument, this study aims to examine whether financial inclusion enhances agricultural participation and decompose the significance of the difference in determinants of agricultural participation between financially included – not financially included households and digital finance – no digital finance households.

This study uses Pakistan’s household integrated economic survey 2018/19 to test hypotheses. The logit model is used to examine the effect of financial inclusion on agriculture participation. Moreover, this study employs a nonlinear Fairlie Oaxaca Blinder technique to investigate the difference in determinants of agricultural participation.

This study reports that financial inclusion positively influences agricultural participation, meaning households may have access to financial services and participate in agricultural activities. The results suggest that the likelihood of participating in agriculture in households with mobiles and smartphones is higher. Moreover, household size, income, age, gender, education, urban, remittances from abroad, fertilizer, pesticides, wheat, cotton, sugarcane, fruits and vegetables are the significant determinants of agricultural participation. To distinguish the financially included – not financially included households’ gap, this study employs a nonlinear Fairlie Oaxaca Blinder decomposition and finds that differences in fertilizer explain the substantial gap in agricultural participation. Likewise, this study tests the digital finance – no digital finance gap and finds that the difference in fertilizer is a significant contributor, describing a considerable gap in agricultural participation.

Empirically identified that various factors cause agricultural participation including financial inclusion and digital finance. Regarding the research limitation, this study only considers a developing country to analyze the findings. However, for future research, scholars may consider some other countries to compare the results and identify their differences.

The accessibility of fertilizer can reduce the agricultural participation gap. However, increased income level, education and cotton and sugar production can also overcome the differences in agriculture participation between digital finance and no digital finance households.

This is the first study to decompose the difference in determinants of agricultural participation between financially and not financially included households.