APPLICATION OF PRINCIPLES OF RELIABILITY ANALYSIS TO OPTIMIZATION PROBLEM IN TRANSPORTATION INDUSTRY

A typical optimization problem emanating from the actual optimization that is conducted on a routine basis at a leading retail store, Staples, Inc. is used to illustrate the concepts of Simulation-optimization. This is done by solving a transportation problem of 10 cities (a subset of the actual 40-city problem) using optimization principles. The same problem is then solved using probabilistic principles using the total traveled distance between two cities as a random variable (depending upon the route taken). In a typical Simulation-optimization problem, Monte Carlo simulation is used for simulation of random paths. In this paper, an alternate but efficient method is prposed and used based on the probability principles. This is based on the concept of capturing uncertainities ranging from 68.3% to 99.7% in the physical system based on (μ +/- σ, μ +/- 3)σ concept. The results from probabilistic optimization and the corresponding deterministic optimization are the compared. It is found that sumulation-optimization results in savings of cost as compared to traditional optimization

Development Application of Composite Indices (CI): An Emerging Method to the Disciplines of Engineering, Economics and Finance

Interdisciplinary or multidisciplinary research involves the use of a combination of principles from various disciplines: engineering, economics, finance, etc. This particular approach makes a lot of sense; otherwise, all the research will become compartmentalized, and researchers from one discipline will not know what researchers from other disciplines are doing and how those principles can be applied to their own disciplines. One way to create a common base connecting all these disciplines is to use the concept of composite indicators (CI), which is an emerging field of study. The use of composite indices, as part of an emerging method, for research problems in various fields allows for greater understanding of research problems and provides a visionary approach to solve such problems. This paper first states the existing methods for calculation of composite indicators in the literature and then suggests a new method

A New Approach for a Forecasting Model in the Estimation of Social Security Benefits

This paper developed a new way in which Social Security benefits are estimated in response to the reforms to Social Security to retain its financial solvency. The present research carefully presented the current methodology to calculate the Social Security benefits and carefully examined changes to the methodology to estimate Social Security benefits. More specifically, the proposed methodology included functional specifications such as a linear spline, a cubic spline, and a cubic smooth function that would be fitted between the index factor and the cumulative number of years a beneficiary receives the benefits. After a functional relationship was derived, the best fit specification was determined based on the data used to estimate future Social Security benefits

Mathematical Analysis of Unemployment Benefits

During the Great Recession, expenditures on unemployment insurance (UI) benefits increased, and the benefits were extended. This research deals with development of a mathematical model to calculate unemployment benefits. At a conceptual level, unemployment benefits can be considered as directly proportional to salary and the employment period of the worker prior to being laid off. It is also inversely proportional to factors such as other governmental benefits received in that period of unemployment. The approach in this paper presents the need to calculate the unemployment benefits to keep up with the capricious wages and changing regulations. This analysis will include state and federal government benefits. Each state should be able to adapt the new formula, so it can assess the proper baseline for calculating the unemployment benefits needed for their specific cost of living requirements

Passive buildings: a state-of-the-art review

Abstract Passive buildings are proving to be a solution to menaces of energy crisis and greenhouse gas emissions across the world. Such buildings tend to exhibit low energy demand owing to their cleverly designed envelopes, which comprise of walls, roofs, doors, windows and other openings. This requires use of new materials and technology, leading to an increased initial construction cost. However, with reduced energy consumption, the lifecycle cost of a passive building may be lower than that of a conventional building. These passive buildings also need to cater to occupants’ comfort which is subject to local climatic conditions and climate change. This article discusses economic feasibility and climatic adaptability of a passive building, in addition to advances in passive building strategies. Owing to lack of general awareness and standards related to passive building construction, these buildings have not achieved enough popularity. While many countries are striving hard to bring passive buildings to common masses, a large number of countries are yet to initiate the move. This article outlines several active organizations, standards and rating systems for passive buildings. This article also presents some of the recent research trends and a comprehensive bibliography for the benefit of researchers and practitioners

Agrivoltaics: A Climate-Smart Agriculture Approach for Indian Farmers

India is a leader when it comes to agriculture. A significant part of the country’s population depends on agriculture for livelihood. However, many of them face challenges due to using unreliable farming techniques. Sometimes the challenges increase to the extent that they commit suicide. Besides, India is highly populated, and its population is steadily increasing, requiring its government to grow its GDP and increase its energy supply proportionately. This paper reviews integrating solar farming with agriculture, known as Agrivoltaics, as a Climate-Smart Agriculture (CSA) option for Indian farmers. This study is further supported by the Strength, Weaknesses, Opportunities, and Threats (SWOT) analysis of agrivoltaics. Using the SWOT analysis, this article presents how agrivoltaics can make agriculture sustainable and reliable. This paper identifies rural electrification, water conservation, yield improvement, sustainable income generation, and reduction in the usage of pesticides as the strengths of agrivoltaics. Similarly, the paper presents weaknesses, opportunities, and threats to agrivoltaics in India. The research concludes with the findings that agrivoltaics have the potential of meeting multiple objectives such as meeting global commitments, offering employment, providing economic stability, increasing clean energy production capacity, conserving natural resources, and succeeding in several others. The paper also includes a discussion about the findings, suggestions, and implications of adopting agrivoltaics on a large scale in India