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With the goal to study dissipative Landau–Zener (LZ) sweeps in realistic solid-state qubits, we utilize novel methods from non-Markovian open quantum system dynamics that enable reliable long-time simulations for sub-Ohmic environments. In particular, we combine a novel representation of the dynamical propagator, the uniform time evolving matrix product operator method, with a stochastic realization of finite temperature fluctuations. The latter greatly reduces the computational cost for the matrix product operator approach, enabling convergence in the experimentally relevant deeply sub-Ohmic regime. Our method allows the exact simulation of dynamical protocols with long operation times, such as the LZ sweep, in challenging parameter regimes that are realized in current experimental platforms. [ABSTRACT FROM AUTHOR]

In contemporary manufacturing and supply chain environments, there are various challenges that companies have to face. Many companies are facing challenges to respond quickly to customers' requirements and to provide customised products cost effectively. Mass customisation (MC) can help companies to provide customised products and services quickly at a low price. Integrated decision-making can obtain performance improvement in many situations. This paper investigates the problem of scheduling integration of flexible manufacturing systems (FMSs) for mass customisation. A mathematical model is formulated for the problem. A set-based dynamic algorithm is developed. Numerical studies are made on the proposed algorithm by simulation and by statistical analysis. Conclusions, managerial implications, and future research suggestions are provided. [ABSTRACT FROM AUTHOR]

This paper proposes a prediction-based product change recovery strategy for the SC (supply chain) under long-term disruptions. A real-world case composed of multi-period planning and dynamic customer demand is considered. First, to forecast dynamic customer demand, a data-based demand predictive method with feedback errors is designed. Second, to schedule procurement and production in advance, based on the predicted demand, the selection of the supply portfolio is transformed into a bi-objective mixed integer programming problem incorporating product change. Furthermore, goods allocation and customer order fulfillment strategy is also designed to finish the transportation of goods and delivery of customer orders. To systematically synthesise and address the problems aforementioned, a three-stage heuristic method is further developed. Finally, a case study is presented to substantiate the reliability of the proposed strategy via an actual SC model of Dongsheng Electronics Co., Ltd. Based on the results obtained after one month, the proposed disruption recovery strategy can reduce the unit product cost and improve the service level, which outperforms the original method adopted by Dongsheng. Additionally, sensitivity analysis of unit product change cost is conducted to reveal the effect of different unit product change costs on SC performance. [ABSTRACT FROM AUTHOR]

Energy efficiency strategies in industrial breweries examine the inefficiency of thermal systems from a thermodynamic perspective. However, understanding the costs of inefficiencies in systems, including non-thermodynamic costs, requires exergoeconomics. This study examined wort production in a standard Tier-1 brewery from the tripod of energy, exergy, and exergoeconomics analyses to assess the performance of brewing sections and to pinpoint components that contributed the most to exergy destruction and product cost rate. The energy analyses for the production system showed that the total specific energy for processing 10.05 tons of brew grains to 346.98 hL high-gravity wort was (86 ± 1) MJ/hL at an operational energy efficiency of 30.35%. The exergetic analyses showed that the cumulative exergetic destruction was 3.2737 MW, with the brewhouse section contributing 89.25% of the system's inefficiencies. Also, the analyses showed that the wort kettle (42.7911%), mash tun (10.8086%), preheater (10.0683%), whirlpool (8.3522%), and adjunct kettle (6.2705%) are the top five components with the highest rates of cumulative exergy destruction. The exergoeconomic analyses revealed that the cost rate of processing chilled wort was estimated to be 0.0681 USD/s per overall exergetic efficiency of 6.61%. The five most significant components are the wort kettle (53.70%), whirlpool (16.42%), mash filter (10.44%), mash tun (6.875%), and adjunct kettle (3.31%) based on the relative total cost increases for the production processes. Additionally, wet steam throttling resulted in a 2.51% increase in exergetic efficiency, a 1.60% drop in exergetic destruction rate, and a decrease in cost rates to 0.0675 USD/s. [ABSTRACT FROM AUTHOR]

Spent grains are one of the lignocellulosic biomasses available in abundance, discarded by breweries as waste. The brewing process generates around 25–30% of waste in different forms and spent grains alone account for 80–85% of that waste, resulting in a significant global waste volume. Despite containing essential nutrients, i.e., carbohydrates, fibers, proteins, fatty acids, lipids, minerals, and vitamins, efficient and economically viable valorization of these grains is lacking. Microbial fermentation enables the valorization of spent grain biomass into numerous commercially valuable products used in energy, food, healthcare, and biomaterials. However, the process still needs more investigation to overcome challenges, such as transportation, cost-effective pretreatment, and fermentation strategy. to lower the product cost and to achieve market feasibility and customer affordability. This review summarizes the potential of spent grains valorization via microbial fermentation and associated challenges. [ABSTRACT FROM AUTHOR]

This study explores the effects of temporal reframing of price (TRP), a strategy presenting the total cost of a product or service in smaller, segmented amounts (e.g., $1 per day rather than $365 in total), and its potential to intensify consumers' feelings of being misled, thereby negatively impacting their attitudes toward the product. While previous research has underscored the benefits of TRP, such as lowering perceived costs and enhancing perceived benefits through heuristic information processing, the current study, informed by theories of heuristic versus systematic processing and attribution theory, investigates whether TRP leads to increased feelings of manipulation by deviating from conventional category‐specific temporal frames of pricing. Through two experiments, we find that such deviations may prompt consumers to view TRP as manipulative, subsequently heightening feelings of being misled, especially at higher price levels, whereas lower price levels could diminish the scrutiny applied to marketers' intentions. Additionally, this study demonstrates that feelings of being misled mediate the relationship between the presentation of price information and product attitude, highlighting the potential risks of employing TRP strategies. The paper discusses optimal situations for implementing TRP, aiming to navigate its strategic use effectively. [ABSTRACT FROM AUTHOR]

In retail operations, free sample trial (FST) and product return with money-back guarantee (MBG) both serve as important strategies to reduce consumers' worries and valuation uncertainty. This paper is the first study which analytically examines when and whether an online retailer should provide both strategies simultaneously, and when one strategy outperforms the other. We consider an online retailer selling to consumers who are uncertain about the product values when making purchasing decisions. The retailer decides whether to offer MBG or FST. We develop analytical models to examine four strategies: strategy NN (both FST and MBG are not provided), strategy NS (FST is provided and MBG is not offered), strategy MN (FST is not provided and MBG is provided), and strategy MS (both FST and MBG are offered). Comparing among these four strategies, we find that when only FST is offered, the retailer surprisingly should decrease the price if the product cost is low. If the retailer only provides MBG, he will charge a higher price compared with the situation when MBG is not provided. When the size of free sample is very small, strategy NS (MS) is the optimal strategy if the product's cost is low (high). When the size of free sample is large, strategy MN is the optimal strategy. Then, we extend our model to consider three situations, namely: (a) the retailer offers coupons to consumers to experience the free sample, (b) consumer returns incur a cost, and (c) the size of free sample is endogenous. We find the main conclusion remains robust. Our findings may help explain some real-world practices, such as why some retailers (e.g., Amazon and Walmart) provide consumers with low volume toners to decrease the free sample cost; skincare product retailers such as Lancôme, Estee Lauder, and Guerlain implement both MBG and FST. We also interestingly show that a bigger size of free sample may not necessarily benefit consumers. [ABSTRACT FROM AUTHOR]

Hydroforming is a modern metal-forming process prominently used in the shipbuilding, aerospace, and automotive industries for forming lightweight, complex-shaped geometries due to their inherent process benefits. But this process faces challenges such as limited material selection, high tooling costs, and complex process control for obtaining a defect-free part with uniform thickness. Researchers are constantly innovating and advancing hydroforming technologies to overcome these limitations. This work reviews emerging tube and sheet hydroforming technologies, considering parametric effects and design considerations, particularly for micro-domain applications. Further, a wider acceptance of the hydroforming process in different industries is explored by discussing the studies that tried to improve the efficiency and quality of the hydroforming process. This study observed that better formability could be achieved in hydroforming with appropriate intermediate heat treatment, proper lubrication, the correct design of loading paths, and temperature distribution. In tube hydroforming, wrinkles, necking, and cracking observed to be largely reduced by properly selecting the internal pressure and feeding. The precise protrusion height and uniform thickness at different joint cross-sections in tube forming are found to be significantly influenced by the strain-hardening exponent, loading path, and friction coefficient. Electrohydraulic forming is found being increasingly used due to its higher productivity and lower product cost. However, further research is required to achieve complex sheet geometries with sharp corners. This research emphasizes that advanced research, artificial intelligence integration, and the exploration of alternative materials can improve the performance of the hydroforming process. [ABSTRACT FROM AUTHOR]

Brand retailers are increasingly offering product personalization to accommodate the requests of individual customers. While prior research has examined product personalization from a customer's or a manufacturer's perspective, this study focuses on product personalization from a brand retailer's perspective. Under product personalization, brand retailers that outsource production to upstream suppliers face two significant challenges: product returns from downstream customers, and personalization costs charged by upstream suppliers. Employing an analysis of transaction data from an online women's wedding dress firm, this study finds that as product requests increase (i.e., more product features must be modified), personalization costs increase, but the likelihood of product returns decreases. Additionally, as time requests increase (i.e., delivery is more urgent), the likelihood of product returns increases. Furthermore, relationship‐specific process control exacerbates (i) the effect of product requests on personalization costs, and (ii) the effect of time requests on the likelihood of product returns. Finally, relationship‐specific outcome control and transaction‐specific control alleviate the impact of time requests on the likelihood of product returns while exacerbating the effect of product requests on personalization costs. The findings suggest that retailers can realize greater benefits from product personalization by selecting control mechanisms tailored to personalization requests. [ABSTRACT FROM AUTHOR]

Purpose: This study investigates the relationship between product diversification strategy and cost stickiness, focusing on managerial overconfidence as a moderating factor. It aims to address a critical gap in the literature by providing empirical insights grounded in the Resource-Based View (RBV) theory, specifically examining firms listed on the Tehran Stock Exchange. Methodology: Utilizing a sample of 149 companies from the Tehran Stock Exchange in Iran spanning from 2015 to 2021, this study tests two hypotheses: (1) a positive relationship between product diversification and cost stickiness and (2) the amplification of this relationship by managerial overconfidence. Product diversification is quantified using the Herfindahl Index, while managerial overconfidence is measured through an investment-based index derived from capital expenditures. Cost stickiness is assessed by analysing the asymmetric behaviour of costs in response to changes in sales, focusing on how costs tend to remain high even when sales decrease. Findings: The empirical results substantiate both hypotheses, demonstrating a significant positive relationship between product diversification strategy and cost stickiness. Furthermore, managerial overconfidence amplifies this relationship, highlighting the role of internal resources and managerial perceptions in shaping cost behaviour. Originality: This study contributes substantially to the literature by being among the first to empirically examine the interplay between product diversification strategy, cost stickiness, and managerial overconfidence. Extending the RBV theory to cost behaviour and strategic management provides novel insights for scholars and practitioners in entrepreneurship, corporate strategy, and organizational behaviour. The findings underscore the importance of strategic choices and managerial traits in determining cost stickiness, offering valuable implications for financial analysts, auditors, and stakeholders. [ABSTRACT FROM AUTHOR]

Pricing and output decisions are often delegated to managers compensated on the basis of sales. Prior literature has shown that when firms are homogeneous, the delegation of pricing or output decisions to managers, compensated on the basis of sales, does not facilitate collusion. We show that when firms are heterogeneous, either in marginal cost or product quality, sales‐based compensation can facilitate collusion under both price and quantity competition. As a result, compensating managers on the basis of sales can increase firm profits and reduce consumer welfare. Additionally, we find that owners can strategically design managerial compensation structures to incentivize collusion between rival managers. [ABSTRACT FROM AUTHOR]

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In practice, it is common, especially for online retailers, to bundle different products together during procurement to save transportation and handling costs. It is important to understand and theorize how to manage dynamic procurement by taking advantage of joint ordering in the presence of joint and individual setup costs. In this article, we characterize the structure of optimal policy for a periodic review multiproduct inventory system with multiple setup costs, including a joint setup cost and an individual setup cost for each product. By proposing the notion of ( K K , η) -quasi-convexity, we show that an optimal procurement policy for such a system follows the so-called (σ , ω , S) policy when demands increase stochastically over time: order up to S for states in the region σ , do not order for states in the region ω , and order certain quantities for states in neither σ nor ω. To better understand the optimal policy, we provide the bounds for the optimal order-up-to levels and the boundary sets of the optimal policy. Under the convex single-period inventory costs, we also provide a lower bound deterministic system which can be asymptotically optimal as the coefficient of variations decreases to zero. Leveraging these operational insights, we propose five simple heuristic policies: the independent (s , S) policy, vector (s , S) policy, linear interpolation (s , S) policy, the deterministic approximation, and the weighted deterministic approximation policy. Extensive numerical experiments indicate that the last three heuristics perform well. In particular, the weighted deterministic approximation policy, whose average performance gap is < 1%, dominates the others in almost all our numerical experiments. Finally, we show that how our results can be extended to systems with more complex setup cost functions, such as time-varying, set-based, and quantity-dependent setup costs. [ABSTRACT FROM AUTHOR]

• Ejector cycles achieved higher performance than booster cycle within the gas cooler outlet temperature range of 31 and 50°C. • Multi-ejectors can be applied to ejector cycles with different configurations. • Up to 17% annual energy consumption reduction was found using ejector cycles. • Unit product exergy costs of ejector cycles are up to 28% lower than booster cycle. Restrictions on high-GWP refrigerants have made the use of transcritical CO 2 refrigeration systems widespread. Using transcritical booster refrigeration cycle in warm climates is unsatisfactory due to its high energy consumption. This paper presents theoretical analysis and performance comparison of three different transcritical CO 2 supermarket refrigeration cycle configurations with ejector expansion in Türkiye, which has different climatic regions. Bin-hour data were derived using hourly dry-bulb temperature values for provinces from 7 different regions in Türkiye. The applicability of multi-ejectors to each modeled cycle was also investigated. Annual energy consumption and environmental impact reductions of up to 17% were obtained using ejector expansion cycle compared to booster cycle. Ejector expansion cycles achieved higher performance than booster cycle up to 46% in terms of exergy efficiency at investigated ambient temperatures. Unit product exergy costs of the ejector cycles were found up to 28% lower than booster cycle. [Display omitted] [ABSTRACT FROM AUTHOR]

Machining processes are crucial in the production of various products across different industries. The accuracy, lifespan, and cost of these products significantly depend on the machining processes. This research introduces a novel method for selecting the optimal solution for machining processes. The proposed method, named PSI-R-PIV, is a hybrid of three methods preference selection index (PSI), ranking of the attributes and alternatives (R), and proximity indexed value (PIV). PSI, R, and PIV are all techniques used to rank options to determine the best among the available choices. Moreover, PSI and R have an additional function of calculating weights for the criteria. Therefore, using PSI-R-PIV to rank options for each machining process results in four sets of rankings: one by PSI, one by R, and two by PIV. In the PIV method, the weights for the criteria are calculated using the PSI and R methods. The ranking method using PIV with weights calculated by the PSI and R methods is named the PSI-PIV and R-PIV methods respectively. The four methods in the PSI-R-PIV combination include PSI, R, PSI-PIV, and R-PIV, and have been utilized to rank options in various machining processes. The results indicate that the PSI-PIV method offers high accuracy and is recommended for selecting the best option among the available choices in machining processes. [ABSTRACT FROM AUTHOR]

Manufacturers introduce updated‐generation products to meet intensified competition under trade‐in programs. Based on this phenomenon, we built a two‐period game‐theoretic model, in which the manufacturer sells the old‐generation product during both periods and considers whether to introduce the updated‐generation product in the second period. We find that under a static pricing strategy, if the costs of both products are low, the updated‐generation product's entry increases the old‐generation product's retail price. The manufacturer cannot benefit from introducing the updated‐generation product if the updated‐generation product's cost is high. Under a dynamic pricing strategy, the updated‐generation product entry benefits both the manufacturer and the consumer. [ABSTRACT FROM AUTHOR]

Biosimilars are a new category of medicines that have revolutionized the treatment of patients with life-threatening conditions, such as cancer and autoimmune diseases. A biosimilar is a biological product that is very similar to an already approved biological medicine that is used as its reference. These medicines go through less clinical studies than their reference product and therefore the cost of their development process is significantly lower, giving patients access to them more quickly and at a more affordable price. However, due to the structural complexity and inherent degree of variability of these products, it is very difficult to develop biosimilar medicines that are exactly the same as the reference product. Thus, it is extremely important to define strict controls to guarantee that these minor differences are not clinically significant in terms of safety and efficacy. Like any other medicine, biosimilars have to go through a complex approval process, which involves a thorough assessment by regulatory authorities to ensure these products meet the necessary standards of quality, safety, and efficacy before being placed on the market. Due to their nature and complexity, the approval process of biosimilar medicines contains some unique and specific considerations. This review aims to address the regulatory framework of biosimilar medicines, their development process and the approval requirements by the European Medicines Agency (EMA) and the Food and Drug Administration (FDA). [ABSTRACT FROM AUTHOR]

Among many methods used to predict the cost, parametric cost analysis is widely used. This technique employs parameters not directly correlated to the product cost, like quantity/quality characteristics, to predict the aircraft cost. The data used in this paper for prediction relates to aircraft still "in production" and "in service" and presents costestimation models for light general aviation aircraft whose maximum take-off weight (MTOW) is less than 2000 kg. The Aircraft are classified into two categories based on the landing gear configuration. Important design parameters that are mostly known or easily calculated at the beginning of the preliminary design phase and affect the aircraft design are considered. Multi-linear regression analysis based on the p-value (also known as p-value analysis) is applied to develop the cost-estimation models. These empirical models presented in the paper can predict the cost to an error accuracy of less than ± 5% for all categories, and in the majority of cases, the cost prediction error accuracy of less than 3%. In addition, the models offer the possibility of performing parametric studies to obtain the cost sensitivity to the key design parameters. [ABSTRACT FROM AUTHOR]

Motivated by the supply chain of our oil-field service industry partner, we study shipping, collaboration, and outsourcing decisions in a decentralized, three-stage supply chain consisting of suppliers, a hybrid cross-dock facility, and oil well facilities. Unlike pure cross-docking, which transships arriving products quickly downstream, hybrid cross-docking allows for inventory to remain at the cross-dock for multiple periods. We formulate multi-period, optimization models to minimize costs of different members in a hybrid cross-docking supply chain and establish structural properties of optimal solutions. We make use of those results to identify conditions under which hybrid cross-docking is more cost efficient than pure cross-docking. Our results provide managerial insights regarding when a hybrid cross-dock should be enabled, and the value of the resulting cost savings. We also quantify the value of collaboration among different stages in the supply chain. Upstream collaboration results in 1% to 9% average cost savings for the cross-dock, while downstream collaboration generates 4% to 13% in average cost savings for oil well facilities, depending on the number of products and their holding cost. We also develop a Stackelberg pricing game between a logistics company and oil well facilities seeking to lower their costs by outsourcing their transportation and inventory operations. We identify the structure of oil well facilities' best response to the price of outsourcing services, as well as the structure of the logistics provider's optimal pricing policy. Our findings and models, based on current literature, provide application focused tools that allow managers to improve cross-docking operations in their supply chains, realize the benefits of collaborations, and make better outsourcing decisions. [ABSTRACT FROM AUTHOR]

Lean production is a set of methods aimed at increasing efficiency and flexibility within a firm by eliminating waste and accurately defining value. For this reason, it is interested in eliminating activities that do not add value to the product to reduce costs. Within the scope of lean production, different methods are used based on certain priorities and simultaneously. In this study, the Lean Production Leveling-Heijunka approach, a lean production method applied in a mold sponge manufacturing firm, is discussed. In the accessible literature, it has been seen that the heijunka method has been studied little before and no linear model has been found for its application. Therefore, within the scope of this study, a multi-objective linear model that includes production leveling, sequencing and job stability elements is proposed. As the proposed model is multi-objective, the weighted sum method was used as the aim aggregation method to solve it. The problem of the firm was solved using the proposed model in GAMS/CPLEX. To evaluate the performance of the model, first a small-size sample problem was solved and then the main problem of the firm where the application was used was solved. The effectiveness of the model was evaluated by comparing the results obtained after solving the firm problem with the current case. In addition, Heijunka values for both cases were calculated to demonstrate the success of the proposed model's solution. According to the calculations, the Heijunka ratio was four in the solution obtained by applying the proposed model, while it was two in the current situation. These results demonstrate that a successful Heijunka method was implemented in the firm where the application was conducted, and the production process was made more balanced. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to determine the best way to apply material flow cost accounting (MFCA) in an SME environment with the goal of visualizing negative product cost during the manufacturing process and pinpointing places where improvements can be made. Design/methodology/approach: This study uses a case study approach to demonstrate the usefulness of the MFCA tool in an SME in India that produces aluminum energy products used in the electrical power sector through gravity die casting. Findings: According to the results, the company's gravity die casting has a negative product cost margin of 27.38% as a result of MFCA analysis. It is also determined that the negative material cost is Rs. 22,919, the negative system cost is Rs. 462 and the negative energy cost is Rs. 1,069 for processing 300 kg of raw material. The typical monthly raw material processing for this company is 45,000 kg. Originality/value: This research shows that MFCA's implementation will improve the company's environmental consciousness and bottom line. To the best of the authors' knowledge, this study is the first to implement MFCA in aluminum gravity die casting of electrical parts manufacturing. [ABSTRACT FROM AUTHOR]

Do true cost campaigns (TCCs)—which display prices at the point of purchase that include social and environmental negative externalities—nudge consumers toward more expensive sustainable products? From a theoretical point of view, the answer is promising: Communicating true costs means introducing external reference prices that provide a benchmark for consumers to assess price acceptability. Showing true costs triggers a general reference to the price of sustainability, and the higher price of sustainable products becomes at least partially explained by their lower "hidden costs" (i.e., costs to compensate for all environmental and social impacts). In two empirical studies, we demonstrate that for TCCs to be effective, the hidden costs for the sustainable products must be lower than those for the conventional alternatives. Interestingly, under this condition, TCCs have an effect in markets characterized by a larger (study 1) and a smaller (study 2) green gap. In both studies, we find that increased perceived price fairness explains the effect of TCCs, as measured by the relative preference for the sustainable compared to the conventional product. In addition, we see that the price difference between the two products plays a significant role in forming this preference judgment, independent of other factors included in the model and especially independent of TCC. [ABSTRACT FROM AUTHOR]

In this paper, we deal with the global approximation of solutions of stochastic differential equations (SDEs) driven by countably dimensional Wiener process. Under certain regularity conditions imposed on the coefficients, we show lower bounds for exact asymptotic error behaviour. For that reason, we analyse separately two classes of admissible algorithms: based on equidistant, and possibly not equidistant meshes. Our results indicate that in both cases, decrease of any method error requires significant increase of the cost term, which is illustrated by the product of cost and error diverging to infinity. This is, however, not visible in the finite-dimensional case. In addition, we propose an implementable, path-independent Euler algorithm with adaptive step-size control, which is asymptotically optimal among algorithms using specified truncation levels of the underlying Wiener process. Our theoretical findings are supported by numerical simulation in Python language. [ABSTRACT FROM AUTHOR]

We examine the extent to which basic factors, such as the structure, complexity, and usefulness of a cost system, affect the design of cost systems and the resulting satisfaction and help companies make the right decisions. Moreover, we examine the relationship between the structure and complexity of cost systems with (a) a company's demographic data, such as the volume of its activities, the number of years it has been operating, its sector, its size, and the gender, age, level of training, and position of its employees; and (b) information concerning production and competition, such as the number of products that a company produces, the number of a company's production lines, the level of competition, and the extent to which competition affects a company's pricing policy. Empirical research was conducted via a questionnaire in which a sample of 114 industrial companies in Greece took part. The findings revealed that the structure and the usefulness of a cost system, but not its complexity, significantly affect the satisfaction users get from the system when they are called to make fast and correct decisions. The results point out a positive correlation between the satisfaction a user gets from a cost system and the range of information (R), the calculation of deviations (CS), the provision of accurate information (CS), the quality of information (CS), the number of cost pools (C), the number of allocation bases (C), and the cost information (U). Companies that produce more goods and have a complex production process have cost systems that not only have a more detailed structure and provide more detailed information with the calculation of deviations as well as accurate information but also have more cost pools and cost allocation bases. The more competition affects a company's pricing policy, the more a company seeks systems that categorize costs based on behavior (structure) and more cost allocation bases (complexity). The larger a company is, with a long (>20 years) and international presence, the higher the probability a company will have a system with a more detailed cost information structure. [ABSTRACT FROM AUTHOR]

This paper uses fractional integration and cointegration methods to analyze the long-run relationship between loans to non-financial corporations, real gross domestic product, real gross fixed capital formation, the cost of borrowing differential between long- and short-term rates, and a proxy for the cost of debt, securities, and equity issuance. The analysis includes four Eurozone countries, namely Germany, France, Italy, and Spain, and spans the most recent decades. More precisely, fractional integration and cointegration models are estimated to investigate the persistence of the series as well as their long-run relationships and short-run dynamics using both unrestricted and restricted specifications. The univariate results are heterogeneous, the highest degrees of integration being found in the case of loans to non-financial corporations, whilst the multivariate ones provide evidence of a single fractional cointegration vector as well as of a lower adjustment speed to the long-run equilibrium compared to previous studies in all four countries. Moreover, both the short- and long-run response of loans to exogenous shocks to real gross domestic product and the cost of borrowing differentials differs across countries because of country-specific factors. [ABSTRACT FROM AUTHOR]

As an advanced energy storage technology, the compressed CO2 energy storage system (CCES) has been widely studied for its advantages of high efficiency and low investment cost. However, the current literature has been mainly focused on the TC-CCES and SC-CCES, which operate in high-pressure conditions, increasing investment costs and bringing operation risks. Meanwhile, some studies based on the phase-change CO2 energy storage system also have had the disadvantages of low efficiency and the extra necessity of heat or cooling sources. To overcome the above problems, this paper proposes an innovative compressed CO2 phase-change energy storage system. During the energy charge process, molten salt and water are used to store heat with a smaller temperature difference in heat exchangers, and high-pressure CO2 is reserved in liquid form. During the energy discharge process, throttle expansion is applied to realize the evaporation at room temperature, and CO2 absorbs the reserved heat to improve the power capacity in the turbine and the system energy storage efficiency. The thermodynamic and exergoeconomic studies are performed firstly by using MATLAB. Then, the parametric study based on energy storage efficiency, system unit product cost, and exergy destruction is analyzed. The results show that energy storage efficiency can be improved by lifting liquid CO2 pressure as well as compressor and turbine isentropic efficiencies, and CO2 evaporation pressure has the optimal pressure point. The system unit product cost can be reduced by decreasing liquid CO2 pressure and compressor isentropic efficiency, while CO2 evaporation pressure and turbine isentropic efficiency both have optimal points. Finally, the optimization of two performances is performed by NSGA-II, and they can reach 75.30% and 41.17 $/GJ, respectively. Moreover, the optimal energy storage efficiency is obviously higher than that of other energy storage technologies, indicating the great advantage of the proposed system. This study provides an innovative research method for a new type of large-scale energy storage system. [ABSTRACT FROM AUTHOR]

Calculation of hidden quality costs has also become important in order to accurately calculate and record quality costs. In research, it trial to calculated the hidden quality costs with the Grey Prediction Method GM (1.1) model and the Taguchi Quality Loss Function, using the data obtained from a business in Denizli that manufactures bagalite parts between the years 2019-2020. In the study, firstly using the grey prediction method GM (1.1) model, the forward prediction of the reclamation expenses, poor quality product costs, internal reprocessing costs, overtime costs and quality training costs were made. Then by making Taguchi Quality Loss application; The loss of quality in the business is examined by considering Taguchi's idea of Loss of Quality and the information obtained from the grey prediction application and the actual costs obtained from the business. Afterwards, the number of quality training and quality training costs in the business were examined according to the years and it was determined whether there was a loss of quality. As a result, in the application of Taguchi Quality Loss detection with Grey prediction method, it was determined that quality loss occurred in poor quality product costs, internal reprocessing costs, quality training costs. It has been determined that there is no loss of quality in the reclamation expenses. It has been tried to show that Taguchi Quality Loss and Quality Loss Function formula can be used not only in certain places but also in every activity and cost calculation. As in the study, original studies should be carried out with different applications. [ABSTRACT FROM AUTHOR]

Cost of the power is major cost element in the cost of the products & services. Consequently, analysis of cost structure of the various power generation sources in order to supply the electricity to consumers at economical rate have vital importance. [ABSTRACT FROM AUTHOR]

In the plastic injection industry, plastic injection molding is one of the most extensively used mass production technologies and has been continuously increasing in recent years. Cost evaluation is essential in corporate operations to increase the market share and lead in plastic part pricing. The complexity of the plastic parts and manufacturing data resulted in a long data waiting time and inaccurate cost evaluation. Therefore, the aim of this research is to apply a cost evaluation approach that combines hybrid deep learning of a tunicate swarm algorithm (TSA) with an artificial neural network (ANN) for the cost evaluation of complicated surface products in the plastic injection industry to achieve a faster convergence rate for optimal solutions and higher accuracy. The methodology entails the ANN, which applies feature-based extraction of 3D-model complicated surface products to develop a cost evaluation model. The TSA is used to construct the initial weight into the learning model of the ANN, which can generate faster-to-convergent optimal solutions and higher accuracy. The result shows that the new hybrid deep learning TSA combined with the ANN provides more accurate cost evaluation than the ANN. The prediction accuracy of cost evaluation is approximately 96.66% for part cost and 93.75% for mold cost. The contribution of this research is the development of a new hybrid deep learning model combining the TSA with the ANN that includes the calculation of the number of hidden layers specifically for complicated surface products, which are unavailable in the literature. The cost evaluation approach can be practically applied and is accurate for complicated surface products in the plastic injection industry. [ABSTRACT FROM AUTHOR]

The efficiency and responsiveness of supply chains are vitally dependent on inventory replenishment and transportation decisions. In this paper, we study a supply chain consisting of a single retailer ordering seasonal products within the newsvendor framework. The primary objective of the paper is to investigate the retailer's decision-making process, aimed at determining the optimal replenishment quantities and selecting the appropriate mix and size of the truck fleet. Initially, we formulate a mathematical model where the retailer exclusively manages a limited fleet of its own trucks for inbound transportation of a single seasonal product. In this context, we determine a lower breakeven point for the fixed transportation cost than what has been previously proposed in the literature. Subsequently, we examine a commonly encountered transportation scenario where the retailer has the opportunity to expand its fleet size by leasing trucks from the external market. The outcomes of the numerical example indicates that the flexibility resulting from the utilization of different types of trucks can lead to reduced overall costs. We also address the practical transportation problem of efficiently shipping various seasonal products solely with the retailer's own trucks. For this complex problem, we propose an optimal solution procedure based on Lagrangian method. We show that the joint replenishment of multiple products results in cost savings and enhances utilization of the trucks' capacities. [ABSTRACT FROM AUTHOR]

The descriptional complexity of basic operations on regular languages using 1-limited automata, a restricted version of one-tape Turing machines, is investigated. When simulating operations on deterministic finite automata with deterministic 1-limited automata, the sizes of the resulting devices are polynomial in the sizes of the simulated machines. The situation is different when the operations are applied to deterministic 1-limited automata: while for boolean operations the simulations remain polynomial, for product, star, and reversal they cost exponential in size. The costs for product and star do not reduce if the given machines are sweeping two-way deterministic finite automata. These bounds are tight. [ABSTRACT FROM AUTHOR]

The manufacturing sector is undergoing a significant transformation driven by the demand for personalised products, challenging manufacturers to provide precise quotations while maintaining cost control and profitability. Product Configuration Systems (PCS) play a pivotal role in supporting product configurations, facing challenges such as data integration, cost calculation relevance, and the need for a knowledge expression framework. This study significantly contributes by delineating an object-oriented ontology framework tailored for configurable product families within PCS. It incorporates comprehensive domain information models for MBOM, inventory, purchase, manufacturing, and sales and distribution. Additionally, the study proposes a domain information model-based cost estimation, integrating actual values from existing Enterprise Resource Planning (ERP) systems for various cost aspects. Design patterns for transforming domain information models into system implementations are introduced, covering both data and business operation layers. Practical application and feasibility are demonstrated through a detailed case study, emphasising the method's practicality. The proposed approach empowers manufacturers to derive accurate product cost estimates, supporting well-informed business decisions. Future research directions involve refining product model configurations, expanding support for diverse product types, and integrating additional digital technologies for an enhanced user experience. Further exploration of labour, equipment, and engineering design expenses aims to enhance cost estimation accuracy. [ABSTRACT FROM AUTHOR]

To enhance the overall performance of recompression supercritical carbon dioxide- (sCO2-) based systems, two new double-effect absorption reheat power cycles (DARPC) were developed in this study. These methods are based on the typical absorption power cycle (APC). For the proposed sCO2/DARPC systems, a parametric analysis of the thermodynamic and economic performances, as well as additional parametric optimisations, were performed quantitatively. The results indicate that replacing the APC subsystem with DARPC subsystems can enhance the total function of the sCO2 system even further, owing to the increased H2O vapour created in the separator and the reheating process, which adds to the greater net power output. Furthermore, compared to the DARPC2 subsystem, the DARPC1 subsystem may produce more H2O vapour from the generator and separator, resulting in an increase in net output power. When compared to a single sCO2 power cycle, multiobjective optimisations showed that the sCO2/DARPC1 and sCO2/DARPC2 systems could increase the exergy efficiency by 12.95% and 11.51% and decrease the total product unit cost by 9.67% and 8.37%, respectively. Furthermore, the sCO2/DARPC1 and sCO2/DARPC2 systems can achieve improvements in exergy efficiency of 4.95% and 3.61% and a total product unit cost of 4.52% and 3.15%, respectively, compared with the sCO2/APC system. [ABSTRACT FROM AUTHOR]

A product recovery system is proposed to reduce the bulk of waste sent to landfills by retrieving materials and parts of obsolete products for using them in remanufacturing and recycling. Product recovery is a significant strategy for enhancing customer satisfaction with regard to environmental concerns. Considering the fact that some products are returned, it becomes challenging to analyse whether to manufacture a new product or to rework the returned product at every step of the product recovery chain. Our approach uses a mixed integer linear programming model with the genetic algorithm and particle swarm optimisation, where two meta-heuristic algorithms are introduced for solving the MILP problem. Here, a recovery scenario is modelled, subject to the time and type of product to be processed. The study is intended to enhance the overall productivity of the product recovery chain. To demonstrate the approach, a case study is presented in the fast-moving consumer goods industry in which the proposed model demonstrates a reduction in the overall cost in the product recovery chain. [ABSTRACT FROM AUTHOR]

This paper deals with the more realistic version of the lot sizing and scheduling problem where we have a single machine that process a number of different products and for each product we have a set of delivery dates and the quantities to deliver at each of these dates. The objective is to minimise the sum of setup costs and inventory holding costs including the holding cost of products from the finish time of each production lot to the next delivery date. In addition, a setup can be carried over from a production run to the immediately succeeding one if the same product is processed during these two runs. A mathematical formulation of this problem is given as well as two specially designed solution heuristics. As the literature does not provide any other method to solve this problem, only the results obtained by these two heuristics are compared. [ABSTRACT FROM AUTHOR]

SMK YPPS Sumedang is a formal education unit that organizes vocational education focusing on hospitality, culinary, and fashion expertise. The school has provideda practice room to support students' business expertise. Business management must be equipped with financial management skills. Service and manufacturing industries require the accurate calculation of the produc costingto determine selling prices. The obstacle faced by the school is that students have not been able to calculate the cost of goods and selling price accurately Students need additional insight related to these calculations. The team of community service activities was implemented in class X, consisting of students of the hospitality, catering, and fashion programs. This activity used a combination of investigative, quantitative and descriptive approach.In addition to providing material, students work on pre-test and post-test questions. The test scores showed an increase after students obtained the material. The results of the questionnaire filled out by students showed 94% agreed that the implementation of the activity went according to the objectives, 97% agreed that the activity program suited the needs of the partners (students of SMK YPPS), 90% agreed that the implementation of the program was relatively sufficient, 96% agreed that the implementation team was friendly and helpful, 97% agreed that this program was sustainable

Modular spacecraft offer promising prospects in the aerospace industry due to their ability to adapt to complex missions and diverse space environments. Nevertheless, such spacecraft may face load‐bearing structure adaptation issues caused by the changes in load demand when replacing sub‐modules for various missions. This necessitates the re‐design and manufacturing of load‐bearing structures, resulting in significant increases in product cycles and costs. To overcome this challenge, innovative composite hierarchical orthogrid stiffened cylinders (CHOSCs) which offer adjustable stiffness and strength to suit various mission requirements are proposed. To investigate the stiffness and strength adjustability, high‐precision composite orthogrid stiffened cylinder (COSC), CHOSC with three primary ribs (T‐CHOSC), and CHOSC with four primary ribs (F‐CHOSC) were manufactured and tested. The results demonstrate that CHOSCs exhibit stiffness and strength adjustability and significantly improve the cylinder's load‐bearing efficiency. Furthermore, a finite element model based on the Hashin damage criterion was employed to capture the end failure of the primary ribs and the local basic rib fractures near the cylinder end. CHOSCs present a feasible solution to the load‐bearing structure adaptation issues caused by the changes in load demand when replacing sub‐modules for various missions and hold significant potential for advancing the aerospace industry. Highlights: Composite hierarchical orthogrid stiffened cylinders (CHOSCs) are proposed.High‐precision CHOSCs are manufactured by combined metal molds.Load‐bearing capacity and failure behavior are investigated.CHOSCs exhibit stiffness adjustability and load‐bearing efficiency.CHOSCs could solve the structure adaptation issues in modular spacecraft. [ABSTRACT FROM AUTHOR]

Recent research provides strong evidence that fouling in ultra‐high‐temperature (UHT) plants for milk is largely impacted by formation of bubbles on hot heat‐exchanger surfaces. The causal relationship between formation of bubbles and fouling is explained, and the impact of the variables—temperature, pressure and dissolved air, is clarified. By elevating the back pressure significantly, according to theoretically based mathematical equations, the formation of bubbles can be prevented, thus inhibiting the bubble‐related fouling. Equations and calculation results, based on a presented calculation tool, of three design examples, are provided to support designs of plants for suppressed or prevented bubble‐related fouling. [ABSTRACT FROM AUTHOR]

To facilitate the assessment of ecological product value and provide a convenient means of measurement, it is imperative to enhance the value accounting system. Thus, this study aims to develop a methodology for assessing ecological products that accounts for both product quality and cost. This approach is used to determine the ecological product value for the three provinces and cities in the Three Gorges region of China, which are located in the middle and upper reaches of the Yangtze River, namely Hubei Province, Hunan Province, and Chongqing Municipality. According to the results, the ecological product value of Yangtze River's Three Gorges regions was USD 32,499,414,905.7 (2,339.417 billion yuan) in 2018. Clean water made up USD 129,845,354,411 (934.657 billion yuan) of this amount, while agricultural products contributed 140.476 billion. With a value of USD16,154,661,055 (11628.50 billion yuan), Hubei province had the greatest ecological product value. In light of these results, this study advocates for strategies to ensure the diversified and balanced development of ecological products. It recommends the establishment of a market platform dedicated to ecological products, as well as the formulation of rules and protocols governing ecological product transactions. [ABSTRACT FROM AUTHOR]

Introduction: Perioperative opioid use has been associated with adverse clinical outcomes. Additionally, opioid disposal carries significant costs, due to the waste of pharmaceutical products and the time needed by skilled labor to report the waste. In this study, we aimed to estimate costs and predict factors of opioid-associated intraoperative product waste, as well as to evaluate whether higher intraoperative opioid doses are associated with increased risk of adverse postoperative outcomes. Methods: We included 170,607 patients undergoing general anesthesia and receiving intraoperative fentanyl, hydromorphone, or morphine at Beth Israel Deaconess Medical Center, Boston, MA, USA, between January 2010 and June 2020. We estimated product waste-associated costs based on various opioid syringe sizes and determined predictors of opioid waste. Further, we evaluated whether higher opioid doses were associated with postoperative adverse events according to the severity-indexed, incident report-based medication error-reporting program classification. The primary outcome included post-extubation desaturation, postoperative nausea or vomiting, or postoperative somnolence or sedation. Results: The use of the smallest syringe sizes (50 mcg for fentanyl, 0.2 mg for hydromorphone, and 2 mg for morphine) resulted in the lowest product waste-associated costs. The main predictor of opioid waste was the administration of more than one intraoperative opioid (adjusted odds ratio [aOR] = 7.64, 95% CI 7.40–7.89, P < 0.001). Intraoperative doses of fentanyl > 50–100 mcg (aOR = 1.17 [1.10–1.25], P < 0.001, adjusted risk difference [ARD] 2%) and > 100 mcg (aOR = 1.24 [1.16–1.33], P < 0.001, ARD 3%), hydromorphone > 1 mg (aOR = 1.13 [1.06–1.20], P < 0.001, ARD 2%), and morphine > 2–4 mg (aOR = 1.26 [1.02–1.56], P = 0.04, ARD 3%) and > 4 mg (aOR = 1.45 [1.18–1.77], P < 0.001, ARD 5%) were associated with higher risk of the primary outcome. Conclusion: Smaller syringe sizes of intraoperative opioids may help to reduce product waste and associated costs, as well postoperative adverse events through utilization of lower intraoperative opioid doses. [ABSTRACT FROM AUTHOR]

We study the problem of optimizing assortment decisions in the presence of product-specific costs when customers choose according to a multinomial logit model. This problem is NP-hard, and approximate solutions methods have been proposed in the literature to obtain both lower and upper bounds in a tractable manner. We propose the first exact solution method for this problem and show that provably optimal assortments of instances with up to 1,000 products can be found, on average, in about 2/10 of a second. In particular, we propose a bounding procedure to enhance an approximation method originally proposed by Feldman and Topaloglu and provide tight lower and upper bounds at a fraction of a second. We show how these bounds can be used to effectively identify an optimal assortment. We also describe how to adapt our approach to handle cardinality or space/resource capacity constraints on the assortment as well as assortment optimization under a mixed-multinomial logit model. In both cases, our solution method provides significant computational boosts compared with exact methods from the literature. [ABSTRACT FROM AUTHOR]

The rise of passive investing is shining a new light on the world of Indexing. Indexing is all around us today, whether being discussed by a media outlet showing the movements of the day or a newly launched passive ETF that tracks a recently created index. But there is little research on whether picking one index over another provides value to the investor when the indexes all share very similar index construction methodologies. Is there value in selecting one over the other or should investors choose the one that is the most accessible or cheapest to access? This article aims to fill that gap by conducting a comparative analysis of US Large Cap indexes that are substantially similar in their construction methodologies. As expected, the indexes selected perform very similarly to one another based on the quantitative methods used within the analysis. Other than number of securities, the largest difference among the indexes is their exposure to Mid-Cap stocks. The decision of which index to select is dependent on the application being selected. This article focuses on the four purposes outlined by DiBartolomeo (2019) which are: journalistic, representation of an asset class, a fair benchmark, and basis of passive investment. In most cases, each index is a reasonable substitution for the others. Given that risk and return profiles are similar, factors such as number of securities, licensing costs, and brand value are the most significant to consider. This is especially true when selecting an index as the basis of a passive product, where those factors affect the product cost and capacity that can determine the success or failure of a passive product. [ABSTRACT FROM AUTHOR]