Giuseppe Aiello, Julio Benítez, Silvia Carpitella, Antonella Certa, Mario Enea, Joaquín Izquierdo and Marco La Cascia
This study aims to propose a decision support system (DSS) for maintenance management of a service system, namely, a street cleaning service vehicle. Referring to the information…
Abstract
Purpose
This study aims to propose a decision support system (DSS) for maintenance management of a service system, namely, a street cleaning service vehicle. Referring to the information flow management, the blockchain technology is integrated in the proposed DSS to assure data transparency and security.
Design/methodology/approach
The DSS is designed to efficiently handle the data acquired by the network of sensors installed on selected system components and to support the maintenance management. The DSS supports the decision makers to select a subset of indicators (KPIs) by means of the DEcision-MAaking Trial and Evaluation Laboratory method and to monitor the efficiency of performed preventive maintenance actions by using the mathematical model.
Findings
The proposed maintenance model allows real-time decisions on interventions on each component based on the number of alerts given by sensors and taking into account the annual cost budget constraint.
Research limitations/implications
The present paper aims to highlight the implications of the blockchain technology in the maintenance field, in particular to manage maintenance actions’ data related to service systems.
Practical implications
The proposed approach represents a support in planning, executing and monitoring interventions by assuring the security of the managed data through a blockchain database. The implications regard the monitoring of the efficiency of preventive maintenance actions on the analysed components.
Originality/value
A combined approach based on a multi-criteria decision method and a novel mathematical programming model is herein proposed to provide a DSS supporting the management of predictive maintenance policy.
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Fiorenza Belussi and Silvia Rita Sedita
The fragmentation of the production process is a major theme of research in international business. Trade benefits arise from the “slicing up” of the aggregate value chain, as…
Abstract
The fragmentation of the production process is a major theme of research in international business. Trade benefits arise from the “slicing up” of the aggregate value chain, as well as the entry of new countries bearing low labor costs. If, initially, multinational corporations (MNCs) relocated only standardized, low-value manufacturing activities in new emerging economies (exploitative offshoring), now they are also offshoring their knowledge-intensive activities (explorative offshoring). In the past, the literature on internationalization was mainly focused on the characterization of the MNC as a specific monolithic organization active in the international production. In the present, numerous analyses have discussed the international location of R&D activities, mainly in advanced countries. The foreign R&D subsidiaries are still tightly linked to the headquarters, maintaining a controlled position. Future research must address two orders of issues. The first is the progressive autonomy of the foreign subsidiaries, which are more and more developing new and independent lines of research. This process leads MNCs to mobilize and leverage untapped pools of knowledge scattered around the world. The second is the R&D offshoring toward emerging economies. This complex process can be characterized as a move from the smile model discussed extensively by Ram Mudambi (where emerging economies were considered as pools of low-cost labor tout court) to a new model, called here the λ (lambda) model (where emerging economies are also pools of skilled labor). This paper will explore these new trends using some illustrative cases: L'Oréal (FR), Pfizer (US), ST Microelectronics (CH), and Geox (I). The cases reveal the double orientation of MNCs toward emerging economies, where both explorative and exploitative offshoring takes place.
Examines the sixteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects…
Abstract
Examines the sixteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.
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Diego Iannuzzi, Mario Pagano, Luigi Piegari and Pietro Tricoli
The purpose of this paper is to propose a new converter topology for integrating PV plants constituted by many panels into the grid. The converter is capable of implementing MPPT…
Abstract
Purpose
The purpose of this paper is to propose a new converter topology for integrating PV plants constituted by many panels into the grid. The converter is capable of implementing MPPT algorithms on different subset of modules and can balance the different energy supplied by panels differently irradiated. The output voltage presents a very low ripple also if small filters are used for grid connection.
Design/methodology/approach
In the paper, at first the converter configuration is presented. Then a control strategy for obtaining, at the same time the distributed MPPT and the power balancing on the three phases is proposed. Finally, by means of numerical simulations, the good performances of the proposed converter are shown.
Findings
The proposed converter, lent from MMC configurations, is deeply studied and a suitable control strategy is well analyzed in the paper. Analytical model for voltage and current balancing are given.
Research limitations/implications
The analysis presented in the paper complete some studies started in the last years and partially presented in previous scientific papers. It reaches a final point and gives all the specific for the realization of the converter and of its control.
Practical implications
The paper gives all the instrument to design and realize a PV power plant integrated into building façade.
Originality/value
The converter and the control for voltage and current balancing presented in this paper represent a significant original contribution of this work.
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Urbi Garay, Gwendoline Vielma and Edward Villalobos
The purpose of this paper is to present the formulation of the first exhaustive price index for Argentinian (and other Latin American countries) visual artists using 5,069 works…
Abstract
Purpose
The purpose of this paper is to present the formulation of the first exhaustive price index for Argentinian (and other Latin American countries) visual artists using 5,069 works sold in auctions by 71 Argentinian artists during the years 1980-2014.
Design/methodology/approach
The authors estimated a regression of hedonic prices using the ordinary least squares method. When the regression was run and the results were analysed, the authors then estimated the annual price index of Argentinian artists’ work to then compare them with different financial and economic variables.
Findings
The average annual nominal arithmetic rate of return in dollars for Argentinian art during this period was 6.81 per cent, with a 29.11 per cent standard deviation. Argentinian art shows a low correlation with Argentinian and US companies’ shares and a slightly negative correlation with US bonds. This is the reason for artworks to be included in investors’ portfolios despite the relatively high volatility.
Research limitations/implications
Valuating works of art in Argentina can be explained by a series of their attributes. The benefits of art as an investment should be contrasted with factors including illiquidity and high transaction costs that are inherent when investing in works of art.
Practical implications
Argentinian artists’ works have higher prices when, ceteris paribus, they are dated; they are auctioned in either Christie’s, Sotheby’s, Galería Arroyo, Roldan & Cia, Meeting Art, or Naon & Cia; they are oil or acrylic paintings; they are larger in size – although the price increase is decreasing when the size of the painting increases; and when the artist dies before their work is auctioned.
Originality/value
This work presents the first rigorous price index of Argentinian artists’ works. Additionally, and as far as the authors have been able to observe, the time-period in this article is the longest that has been used in studies on art as an investment in emerging markets.
Propósito
Este trabajo presenta la elaboración del primer índice exhaustivo de precios de artistas plásticos de Argentina (y de cualquier otro país de Latino América) a partir de 5.069 ventas de obras de 71 artistas argentinos realizadas en subastas durante el período 1980-2014.
Diseño/metodología/enfoque
Se estimó una regresión de precios hedónica por el Método de Mínimos Cuadrados Ordinarios. Una vez corrida la regresión y analizados sus resultados, se procedió a estimar el índice anual de precios de obras de artistas argentinos, para posteriormente relacionarlos con diversas variables financieras y económicas.
Hallazgos
El rendimiento promedio aritmético nominal anual en dólares del arte argentino durante ese período fue de 6,81% con una desviación estándar de 29,11%. El arte argentino exhibe una baja correlación con las acciones de empresas argentinas y de EEUU y ligeramente negativa con bonos de EEUU, lo cual le confiere atributos para ser incluido en las carteras de los inversionistas, a pesar de la elevada volatilidad.
Limitaciones e implicaciones de la investigación
Se consigue que la valoración de arte en Argentina puede ser explicada por una serie de atributos de las obras de arte. Los beneficios del arte como inversión deben ser evaluados con la iliquidez y los elevados costos de transacción, entre otros costos, inherentes a la inversión en obras de arte.
Implicaciones prácticas
Las obras de artistas argentinos tienen precios más altos cuando, ceteris paribus: están fechadas, se subastan en Christie's, en Sotheby's o en Galería Arroyo, son ejecutadas en óleo o en acrílico, tienen un mayor área, aunque el aumento de precio es decreciente al aumentar el área, y cuando el artista ya había fallecido al momento de celebrase la subasta.
Originalidad/valor
Este trabajo propone el primer índice riguroso de precios de obras de artistas de Argentina. Además, y hasta donde hemos podido comprobar, el período utilizado en este trabajo es el más largo que se haya empleado en estudios del arte como inversión en mercados emergentes.