Search results for "Risk Analysis"
showing 10 items of 375 documents
Oral Solid Dosage Form Disintegration Testing — The Forgotten Test
2014
Since its inception in the 1930s, disintegration testing has become an important quality control (QC) test in pharmaceutical industry, and disintegration test procedures for various dosage forms have been described by the different pharmacopoeias, with harmonization among them still not quite complete. However, because of the fact that complete disintegration does not necessarily imply complete dissolution, much more research has been focused on dissolution rather than on disintegration testing. Nevertheless, owing to its simplicity, disintegration testing seems to be an attractive replacement to dissolution testing as recognized by the International Conference on Harmonization guidelines, …
Cost analysis of the facilities deterioration in wastewater treatment plants: A dynamic approach
2019
Abstract The implementation of the Directive 91/271 / CEE resulted in the proliferation of new Wastewater Treatment Plants (WWTPs) all around Europe. These facilities, which are compound by a wide range of assets (civil works, electromechanical equipment, pipelines, etc.), are ageing and deteriorating having an impact on the efficiency of the process. It is founded that repairs and corrective maintenance costs have increased in the last years, due to the deterioration process. Therefore, the aim of the present study is to focus on the cost effects of the deterioration process of the facilities in different wastewater treatment technologies. The analysis of these impacts will allow the opera…
Learning competitive pricing strategies by multi-agent reinforcement learning
2003
Abstract In electronic marketplaces automated and dynamic pricing is becoming increasingly popular. Agents that perform this task can improve themselves by learning from past observations, possibly using reinforcement learning techniques. Co-learning of several adaptive agents against each other may lead to unforeseen results and increasingly dynamic behavior of the market. In this article we shed some light on price developments arising from a simple price adaptation strategy. Furthermore, we examine several adaptive pricing strategies and their learning behavior in a co-learning scenario with different levels of competition. Q-learning manages to learn best-reply strategies well, but is e…
A systematic assessment of road pavement sustainability through a review of rating tools
2017
Pavements are engineered systems present in every modern society, and they have significant environmental, economic and social impacts. In an effort to promote more sustainable decisions regarding pavement design, construction and management, several pavement sustainability assessment tools have been developed. This research reviewed some of these tools and found that many of them do not treat the pavement as a system; instead, they seek to optimize individual aspects of the pavement in an effort to increase its sustainability. Therefore, a framework for analytically assessing the system outcomes towards sustainable objectives is presented and applied for modern pavement sustainability asse…
System dynamics models for decision making in product multiple lifecycles
2015
The main drivers for adopting product multiple lifecycles are to gain ecological and economic advantages. However, in most of the cases it is not straight forward to estimate the potential ecological and economic gain that may result from adopting product multiple lifecycles. Even though many researchers have concluded that product multiple lifecycles result in gain, there are examples which indicate that the gain is often marginal or even none in many cases. The purpose of this research is to develop system dynamics models that can assist decision makers in assessing and analysing the potential gain of product multiple lifecycles considering the dynamics of material scarcity. The foundatio…
Current research issues in production economics
2020
This Special Issue includes a selection of papers originally presented and discussed at the Twentieth International Working Seminar on Pro- duction and Operations Management, Innsbruck, February 19–23, 2018, and subsequently extended and improved. Production and Operations Management was established in the1970s as an academic discipline focusing on scientific topics treating the interface between engineering, management, and economics with a special emphasis on financial consequences of decisions in the produc- tion domain. The subject is interdisciplinary in nature and it therefore contains a wide range of topics. The Working Seminar included sessions such as supply chain management, innov…
Operational risk in bank governance and control: How to save capital requirement through a risk transfer strategy. Evidences from a simulated case st…
2015
Operational risk management in banking has assumed such importance during the last decade. It has become increasingly important to measure, manage, and assess the impact of operational risk in the economics of banking. The purpose of this paper is to demonstrate how an effective operational risk management provides mitigating effects on capital-at-risk in banking. The paper provides evidences that an implementation of an operational risk transfer strategy reduces bank capital requirement. The paper adopts the loss distribution approach, the Monte Carlo simulation, and copula methodologies to estimate the regulatory capital and simulate an operational risk transfer strategy in banking.
Early detection of contamination and defect in foodstuffs by electronic nose: A review
2017
Abstract Electronic nose (e-nose) has emerged as a potential instrument in various areas of food safety assessment for rapid early detection of contamination and defect in food production chain. E-nose is an innovative measurement system designed for detecting and discriminating complex odors through mimicking the working mechanism and the principal building blocks of the mammalian olfactory system. This paper describes a literature update of the applications of the e-nose for ensuring health and safety in the food industry. Finally, its future trend, perspectives and challenging problem are also mentioned.
Exploring the future: Runtime scenario selection for complex and time-bound decisions
2015
Abstract Scenarios are designed to support decision-makers in gaining a better understanding of the consequences of decisions. Despite their popularity in IT for Foresight, a major obstacle is the complexity of strategic decisions and the resulting multitude of scenarios. Therefore choices need to be made, which scenarios to fully work out, by which experts and in which level of detail. This paper presents an approach to support making these trade-offs between accuracy and resources spent by prioritising scenarios based on their significance for the decision even on the basis of incomplete information. This approach combines theoretical findings in decision theory with results that were eli…
The Employment of Unmanned Aerial Vehicles for Analyzing and Mitigating Disaster Risks in Industrial Sites
2020
Effective safety procedures play a fundamental role in high-risk industrial contexts, because the occurrence of an accident can cause environmental catastrophes, severe damages to the structures, and fatal injuries to the workers. In particular, maintaining detailed and up-to-date information about potential accident areas is a crucial issue to prevent the occurrence of disasters and to safely plan the rescue process. In such contexts, periodic safety inspections are therefore performed on a regular basis, although they may expose the inspection personnel to harsh or hazardous environments. The employment of unmanned aerial vehicles (UAVs) in such situations can provide unprecedented opport…