High Price Research Articles

EXPRESS: Impact of Unreliable Supplier on a Supply Chain with Demand-Generating Marketing

A firm often has multiple sourcing options for its product. Some suppliers may have longer lead times but offer lower prices, whereas reliable suppliers with quick response capabilities may have higher prices. Purchasing from a cheaper, less reliable supplier can help a firm lower its inventory cost but will expose itself to potential risks. This paper analyzes a supply chain in which a manufacturer can source from a cheaper, less reliable supplier with a long lead time and/or a reliable quick-response supplier. The manufacturer also has to make demand-generating marketing investments before the selling season. Our analysis shows that if the unreliable supplier’s reliability is low, the reliable supplier will charge a low wholesale price; otherwise, it will choose a high wholesale price. As the unreliable supplier’s reliability improves, the manufacturer is inclined to increase its marketing investment, but there is a drop at some critical threshold. Interestingly, the existence of an unreliable supplier can lead to a win-win outcome for the reliable supplier and the manufacturer. The unreliable supplier’s reliability has non-monotonic effects on the equilibrium profits of the reliable supplier and the manufacturer.

SOSIALISASI DAN PEMANFAATAN LIMBAH DAPUR (SAYURAN) UNTUK PEMBUATAN PUPUK ORGANIK CAIR DI DESA NUANEA KECAMATAN AMAHAI KABUPATEN MALUKU TENGAH

This research was conducted in contry Nua Nea, Amahai subdistrict, Central Maluku Regency, to over come the problem of lack of fertilizer subsidies and high fertilizer prices. The aim is to provide solutions to farmers through socialization and production of liquid organic fertilizer (POC). The research involves KKN activies that involve students in assisting the community. The material presented includes the benefits of kitchen waste as a source of nutrients and methods for making POC. The research results show that this activity provides new knowledge to the community and incraises awareness of environmental cleanlinees the agricultural potential and environmental cleanliness of Nua Nea state.

The Nexus between Monetary Policy Transmission Mechanisms and Economic Development in Sierra Leone for the Period (1993 – 2023)

This research investigated the transmission mechanisms of monetary policy and their impact on economic development in Sierra Leone from 1993 to 2023, aiming to evaluate their effectiveness in achieving key macroeconomic goals such as employment generation, balance of payments stability, and maintaining a relatively stable general price level. The study sought to understand how these transmission mechanisms influence economic development in Sierra Leone, particularly at a time when the country is grappling with significant macroeconomic challenges, including high unemployment, price volatility, and elevated inflation rates. Data spanning from 1993 to 2023 were collected from the World Bank Economic Indicators and Bank of Sierra Leone Statistical Bulletin through a purposive sampling approach. The research employed a blend of ex- post facto, longitudinal, descriptive, causal-effect, and correlation research designs. The statistical analyses conducted included the Augmented Dickey Fuller (ADF) unit root test, Granger causality test, ordinary least squares multivariate regression, generalized method of moments, Johansen co-integration, and vector error correction mechanisms. The findings revealed that capital stock (coefficient of 0.13), money supply (0.17), migrant remittances (6.5), and exchange rate (0.08) exhibited significant and positive long-term relationships with Sierra Leone economic development during the observed period. Conversely, the monetary policy rate (0.10) and credit to the private sector (0.30) demonstrated positive yet insignificant effects on economic development. Interest rates (-0.71) were found to have a significant negative relationship, while the inflation rate (-0.03) was negatively related but not significant. The study concludes that monetary policy transmission mechanisms have both short-term and long-term relationships with economic development in Sierra Leone, underscoring the importance of their effective implementation. Monetary policy transmission mechanisms have proven to be effective instruments for fostering economic development in Sierra Leone. It is advisable for both the Ministry of Finance and Bank of Sierra Leone, as the regulatory authorities, to consistently ensure an optimal combination of monetary policy tools. This approach is essential for significantly impacting economic activities, encouraging investments, and ultimately enhancing macroeconomic stability in the country. Furthermore, these regulatory bodies should regularly evaluate the monetary policy rate and the credit available to investors to create a favorable investment and business environment in Sierra Leone. Additionally, effective policies should be implemented to increase remittance inflows into Sierra Leone, directing investments towards productive uses rather than consumption, which may lead to inflationary pressures. The insights gained from this study contribute to the existing literature on economic development and the mechanisms of monetary policy transmission. The dynamic estimation technique, akin to the Generalized Method of Moments, effectively assessed the endogeneity between monetary policy variables and economic development in Sierra Leone.

How Do We Identify Anthropogenic Allee Effects in the Wildlife Trade?

ABSTRACTThe harvest and sale of wildlife can drive species to extinction when consumers are willing to pay high prices for the last harvested individuals of a very rare species, a phenomenon known as the anthropogenic Allee effect (AAE). Because demand for rarity is an inherent human desire, the AAE has the potential to affect a wide range of exploited species across several geographic regions. Here, we assess the current extent of empirical evidence for the AAE, how such evidence has been measured, and how this evidence interfaces with existing models of the AAE. We find substantial gaps in the empirical evidence base for the AAE and suggest that this deficit prevents assessment of the AAE in species extinctions. We provide a framework for generating empirical evidence that can identify when the AAE is likely occurring or has the potential to occur in the future, and recommend directions for both empirical and theoretical modeling research designed to strengthen our ability to forecast the ecological and market conditions that result in an AAE.

Evaluating Temporal Price Behaviour of Rice in Bangladesh

Aims: The agriculture sector in Bangladesh is predominantly centered on rice production and it is the staple food. High prices of rice can affect the consumers adversely. This study aimed to analyze the annual price dynamics of rice in Bangladesh. Study Design: The study was based on secondary time series data of prices of different category of rice at wholesale and retail level. Both nominal and deflated prices were sued to analyze for achieving the objectives of the study. Place and Duration of Study: Secondary time series data of price for different category of rice from country as a whole from 1991 to 2021 were used to assess its annual price behavior. Methodology: Descriptive statistics were employed to assess the annual price fluctuations, while linear regression analysis was used to evaluate the annual price trends. Results: The analysis revealed significant variations in the annual wholesale and retail prices of rice (both fine and coarse). Notably, coarse rice exhibited greater price fluctuations compared to fine rice in both wholesale and retail markets. Price fluctuation at retail level for fine rice is greater than the wholesale level but in case of coarse rice, price fluctuation at retail level is lower than wholesale level. The study further found that the wholesale price trend for fine rice increased more sharply than that of coarse rice, a pattern that was also reflected in retail prices. Conclusion: The study indicates that over the study period, the price of fine rice experienced a more pronounced fluctuate and increase compared to coarse rice.

An Economically Sustainable Glass Recycling Business Model in Puerto Rico: A Conceptual Solution for Regions Without Government Recycling Programs

In Puerto Rico, less than 5% of glass waste is recycled annually compared to a US national average of 25%. In regions like Puerto Rico, where government glass recycling programs are absent, glass presents a challenging waste stream to profitably recycle due to high transportation costs and low market prices, with few scalable models identified in the literature. This study emerged from a multi-year shared action learning partnership between Worcester Polytechnic Institute’s Puerto Rico Project Center and the Corporación del Proyecto ENLACE, a community development NGO serving the Caño Martín Peña communities in San Juan, Puerto Rico. Based on online research and interviews with 16 key stakeholders, we describe an economically sustainable glass recycling business model designed for the Caño Martín Peña communities that offers broader applicability for similar contexts. The business model achieves three goals: (1) it offers a free and convenient glass-collection service for the Caño Martín Peña communities; (2) it generates local employment opportunities in a low-income region; and (3) it operates in an economically sustainable manner. The viability of the glass-recycling business model is premised on strategic partnerships with government agencies, recycling companies, glass-sand markets, and local businesses.

Managing the challenges of paying for gene therapy: strategies for market action and policy reform in the United States.

Gene therapies delivered through a single administration have revolutionized treatment possibilities for many patients living with serious or fatal conditions such as spinal muscular atrophy, hemophilia and sickle cell disease. However, shadowing the excitement about the transformational potential of many gene therapies has been widespread concern about the combination of uncertainty in the durability of their benefits over the long term and the short-term financial shock of high prices. As the healthcare payment ecosystem prepares for the growing number of gene therapies entering the market, three key interconnected challenges must be addressed: determining a fair price, managing clinical uncertainty and managing short-term budget impacts. This paper identifies specific policy reforms and market-based tools to help the US health system address these challenges to achieve more equitable and affordable access for patients to the growing number of gene therapies expected to be approved in the coming years.

National survey reveals elastic price sensitivity for select equine veterinary services.

The objective of this study was to estimate the price elasticity of demand for 3 common equine veterinary services: vaccinations (a routine service), lameness examinations (an elective service), and emergency colic surgery (an urgent service). Data were collected via a nationwide online survey of horse owners from August 15 to September 11, 2023, eliciting their willingness to pay for each service. The link to the online survey was distributed through participating organizations' social media and email lists to the target audience of US residents aged ≥ 18 years who were financially responsible for at least 1 horse, pony, mule, or donkey. Statistical software was used to estimate the demand models. The survey received a total of 4,915 usable responses, with at least one response from every state in the US. Results revealed elastic demand for all 3 services and subsample analyses provided reassurance as to the robustness of the results, suggesting that quantity demanded of these services would decrease more in a relative sense as compared to the increase in price. Understanding the current and future trends of equine veterinary service demand is vital in ensuring the long-term financial sustainability of equine veterinary practices. Moreover, due to vast differences in the pricing structure of small animal and equine practice procedures, business models for these types of practices should be treated separately. Although it may seem counterintuitive for practice growth, the estimated price elasticity of demand suggests that strategic price increases could enhance profitability. While higher prices may reduce service volume, they could also lead to lower costs, potentially offsetting any revenue reduction. Moreover, the findings on elastic demand can also inform decisions regarding discounts, service bundles, and the development of tiered service offerings.

Design and building CNC engraving router machine using Arduino Uno with GRBL control system

Computer Numerical Control Machines are one of the advances in automatically operated machining technology that can meet the need for complex and high-precision products. CNC machine parts generally have a mechanical and electrical system, also called a machine controller, that uses a Human Machine Interface at a high price. One of the software used to control the CNC machine is Arduino Uno, a PC-based GRBL System with a low price and the same function. This software is not far from the advantages of the HMI panel. Operating the machine with this software is also not that difficult. In this research, we intend to make a CNC machine using the Arduino Uno control system and software with a PC-based GRBL System, making it easier for operators to operate it. The results of the research that has been carried out show that the CNC has a size of 800x600x50mm with a system that is operated well and precisely

Can Economic Fact-Checking Remedy Incorrect Beliefs About Housing Markets?

Supply skepticism is the widely held belief that building more market-rate housing does not help reduce housing prices. Why is supply skepticism a problem, and what is likely to be publicly engaged scholars’ best approach to correcting it? Been et al. have been the leading scholars bringing attention to the phenomenon, and have compiled new economic evidence that increasingly demonstrates that market-rate housing construction reduces housing prices. Will the skeptics who deny the operation of supply and demand in housing markets be persuaded? This seems unlikely. Engaged policy elites who question the benefit of additional housing supply already have well-formed views that are unlikely to be converted by recent, incremental discoveries about housing supply’s price effects. At first glance, the lay public also appears to be supply-skeptical, but their beliefs are only weakly held and unstable. Instead of clear beliefs about markets (skeptical or otherwise), people hold “folk-economic” views that personalize market interactions and blame “bad actors” for high housing prices. They support state housing policies that would punish putative bad actors (e.g., developers, landlords, and Wall Street investors) while showing only tepid and unstable support for building additional market-rate housing. The silver lining for pro-supply advocates is that the average voter’s poorly formed views about housing markets might be susceptible to education and persuasion campaigns that can effectively simplify current research findings.

Photovoltaic effect in methylammonium lead triiodide single crystal

Due to the crystalline acentricity leading to the bulk photovoltaic effect (PV) the ferroelectrics (FEs) are considered as important candidates for creation of the PV cells overcoming the Shockley-Queisser limit of semiconductors. However, this research direction still requires more investigations to develop reliable pathways for PV efficiency optimization. The recent progress in the power conversion efficiency of the cells based on the organic-based compounds such as CH3NH3PbI3perovskite attracted much attention of the scientists. Unfortunately, manufacturing of these multilayer cells implies a very complicated technology and very high price of the devices. Under such circumstances investigations of the PV effect in the single crystals of FE perovskites look very promising. In this paper we report that due to the sample illumination with intensive UV light, CH3NH3PbI3single crystal is transformed from the pristine antiFE into the FE state. As a result, the PV effect characteristic of the FEs is realized in this material. The theoretically maximal value of the power conversion efficiency in this case was found to be one of the largest among the single crystals of this class of ferroics. We also considered the ways allowing to increase the PV efficiency of the potential solar cells based on such materials.

Excessive Pharmaceutical Pricing and Repercussions on Paediatric Health Services

Context: Paediatric pharmaceutics have a significant share in expensive drugs. Recent years have seen significant calls for intervention against high prices for pharmaceutical products. The prohibition of prices that are excessive as a form of abuse of dominance is considered as Competition law violation in the European Union Law and national legal orders of its Member States. Majority of the Organization for Economic Cooperation and Development (OECD) member countries have similar prohibitions in their respective Competition laws with important exemption of United States (US) Antirust Law, although there is some indication of change in US exactly in the area of pharmaceutical sector. Regulation of excessive prices also exists in Competition laws of all BRICS (Brazil, Russian Federation, India, China, and South Africa) countries. The problem of excessive prices in pharmaceutics is one of the emerging themes in Competition law literature and case law development. This is the area where intellectual property rights, usually patent protection, collide with competition rules. Costs of research and development for such pharmaceutics are often very high emphasizing the need for balance between colliding legitimate interests: access to health and research development. Aim: To present regulatory and case law development of application of excessive prices as form of abuse of dominance in pharmaceutical sector with emphasis on paediatric health services. Data source: OECD, PubMed, Google Scholar, Scopus. Conclusion: Balance between competition rules on excessive prices as form of abuse of dominance and intellectual property rights in the area of expensive paediatric pharmaceutics can be regarded as suboptimal. Thus, there is a need for further regulatory development and application of rules on excessive prices in that field.

Analysis of Price Transmission Chili at the Level from Producer to Consumer in Tapin Regency

The fluctuating prices of chili peppers can significantly impact farmers positively and negatively. Farmers cultivating bird’s eye chili can reap substantial profits with high prices. However, they earn less when bird’s eye chili prices are low. Currently, market integration refers to the evolution of costs across different market sectors and the extent to which market sectors in various geographical locations are informed about the supply and demand occurring in a market. This study aims to: 1) analyze the price developments of bird’s eye chili at the producer, wholesale, and consumer levels in Tapin Regency; 2) examine the price transmission of bird’s eye chili from the producer level to the consumer level through prices at the wholesale level and the production of bird’s eye chili in Tapin Regency. The data used in this research are secondary in the form of monthly time series data. The study utilized the documentation method, with data collected from January 2017 to December 2022, totaling 72 data points. The data analysis method employed is the Vector Error Correction Model (VECM), with tests including the Stationarity Test, Optimal Lag Length Test, Stability Test, Cointegration Test, VECM Estimation, Impulse Response Function (IRF), and Forecast Error Variance Decomposition (FEVD). The findings indicate that the prices of bird’s eye chili exhibit monthly fluctuations. The higher price fluctuations at the producer level indicate that farmers have weak bargaining power in setting the prices of bird’s eye chili. The stationarity test shows that the prices of bird’s eye chili at the consumer (HK), wholesale (HG), and producer (HP) levels, along with bird’s eye chili production (PC), are stationary at the first difference. The optimal lag test, with the smallest Akaike Information Criterion (AIC), is lag 2. The cointegration test shows that the trace statistic and max-eigen values are greater than the critical value, thus accepting H1, indicating a long-term relationship. In the short term, the increase in bird’s eye chili prices is influenced by the two previous periods. The analysis results demonstrate asymmetric price transmission from the producer level to the consumer price level.

Price Premiums for Single‐Name and Compound‐Name Geographical Indications in Swiss Cheese Trade

ABSTRACTGeographical indications (GIs) have become increasingly important in agri‐food markets, especially in Europe. For Swiss cheese imports and exports, we analyze whether GIs are associated with higher trade prices. We find that price premiums can be obtained for both exports and imports. However, this is only the case for cheeses with single name GIs where the whole name is protected (e.g., Gruyère, Roquefort). There is no price premium for cheeses with compound names, consisting of a generic part and a geographical part (e.g., Gouda Holland, Raclette du Valais). As the generic part of the name (here Gouda, Raclette) can be used by competitors from other regions, such GI products may have difficulties in differentiating themselves. We conclude that higher prices in international cheese trade are not a matter of having a GI label or not. Rather, having a compound name seems to offset the benefit of the GI protection.

How European consumers value wine credence attributes: a cross-country comparison of France, Greece and Italy

Several attributes can be used to differentiate wine products to meet consumer interest and thus increase producer visibility, attractiveness and revenues. The perception towards the same attribute may depend on various factors that characterise the subjects, such as individual, behavioural and situational characteristics, like their country of origin. This study aims to identify which credence attributes and related levels motivate consumers the most to buying wine, by comparing the results obtained in three different European countries: France, Greece and Italy. A conjoint experiment based on linear assumption was administered using price, production method, geographical indication and wine origin as product attributes. The conjoint data were analysed in three steps: performing a model with the whole sample; performing three models using national data to compare results between the countries; performing a cluster analysis using the Ward method to associate consumer characteristics with product attributes. Results show that origin is the most valued attribute for choosing wine, followed by the production method. Cross-country evaluation reveals several significant differences among the attributes of the production method, geographical indication and origin. The cluster analysis identified three groups named: High price and national wine seekers; Certification seekers and Price-sensitive seekers. This paper provides several implications for both academicians and enterprises. Indeed, it is the first evaluation comparing the role given by consumers to biodynamic certification in a cross-country evaluation. Several indications are also provided for producers who can help differentiate better wine production by earning a higher income.

Nanotechnology in Lithium-Sulfur Batteries: Addressing the Challenges in Battery Cycle Life and Safety

Lithium-sulfur (Li-S) batteries, with their high energy density and affordable material prices, are a viable alternative to ordinary lithium-ion batteries, especially for electric cars. Their actual application is limited by challenges such as substantial volume expansion, low electrical conductivity, and the polysulfide shuttle effect, despite their advantages. This research investigates how incorporating nanomaterials into Li-S battery cathodes, anodes, and electrolytes might improve battery performance and analyzes the potential of nanotechnology to address these problems. The application of metal oxides, graphene oxide, and carbon nanofibers to improve the stability and conductivity of sulfur cathodes is covered. Additionally, it examines anode protection strategies using nanocoating and protective layers to inhibit dendrite growth and improve safety. The incorporation of nanoparticles in electrolytes to improve ionic conductivity and reduce side reactions is also analyzed. Despite the progress, challenges such as the polysulfide shuttle effect and volume changes remain. The paper concludes with recommendations for future research to develop commercially viable Li-S batteries with higher capacity, longer lifespan, and improved safety.

Argentine Malbec market: comparative study of general chemical parameters and sensory properties within low, medium and high price segments

Malbec, Argentina's emblematic wine, is appreciated worldwide for its unique characteristics and distinctive organoleptic profile. As demand for Malbec wines increases locally in Argentina and international markets, there is a need to better understand the relationship between the price of these wines and their chemical and sensory characteristics. The aim of this study was to describe and quantify the sensory attributes and chemical parameters (in particular, phenolics) of Argentinean Malbec wines of different price segments. In order to observe the differences between each price range, the eight best-selling wines from the low, medium, and high price categories were analysed. Wine general analytical parameters and phenolics composition were determined and a descriptive analysis was performed with a trained panel. The results show that it was only possible to differentiate between the high- and low-price ranges. Both ranges exhibited variability, including different types of wines. Significant differences were identified in several parameters, such as O.D.280, titratable acidity, malic acid, volatile acidity, alcohol, glucose and total sugars. There were also significant differences in anthocyanins, LPP, SPP, TPP and tannins. The high-price range was characterised by higher alcohol content, greater polyphenol concentration and greater colour intensity. Sensorially, they were distinguished by the descriptors wood, astringency and colour. The low-price range was associated with low colour intensity and higher total sugar content. This is the first study to clearly establish the sensory differences among different price ranges of Argentine wines. Our study demonstrated that wine pricing is not determined in a subjective or arbitrary manner; rather, wines produced for a specific segment are intentionally designed to achieve the desired sensory and chemical characteristics.

Overcoming Challenges in Scented Geranium Cultivation, Processing, and Marketing: Study from Northern Karnataka, India

Medicinal and aromatic crops play a pivotal role in the socio-cultural, economic, spiritual and health dimensions of India's rural population and have become an integral part of our culture and rituals. Karnataka is a major repository of aromatic and medicinal treasures of the country. The demand for aromatic plants in India surpasses the available supply, prompting the widespread commercial cultivation of major aromatic crops in various regions. Among these, scented geranium emerges as a vital perennial aromatic, cultivated for its leaves imbued with a captivating rose fragrance. The aromatic oil of scented geranium is increasingly replacing traditional rose oil and identified as one of the top 20 essential oils traded globally. The present study aims to identify challenges in cultivation, processing and marketing aspects of scented geranium in Northern Karnataka. Considering the area and concentration of scented geranium in the state, Belagavi district is purposively selected for the study. Primary data was collected through personnel interview of randomly selected geranium growers. The major challenges faced by the farmers in the production, processing and marketing aspects of scented geranium were analysed and prioritized through Garett ranking technique. Analysis of the data revealed that in production, high cost of planting material, lack of high yielding varieties and high wage rates, high cost of inputs and sensitivity of crop to heavy rains were identified as top five constraints. Whereas, in processing, significant hurdles were high working capital requirement, high capital investment in installation distillation unit and insufficient knowledge on operation of distillation units, low oil recovery and lack of efficient processing equipment. In marketing aspects, high price fluctuation, lack of marketing information and lack of competition in the market, non-existence of local market and lack of adequate demand in nearby area were identified as major challenges in the study area. Educating farmers in nursery management and implementing mechanization techniques, particularly for harvesting, are crucial for enhancing productivity and profitability. Additionally, training on proper storage and transportation practices is essential to maintain the quality of volatile essential oils. This comprehensive strategy promotes sustainable and economically viable cultivation of scented geraniums in the region.

Identifying and Analysing Constraints in the Branded Rice Market: A Comprehensive Study of Stakeholders in Kerala, India

The study assessed the various constraints faced by the stakeholders in branded rice market in Kerala. These stakeholders include farmers, exporters, non-exporting private rice manufacturers, co-operative society, wholesalers, retailers and consumers. By examining the constraints across the branded rice market from production to consumption, the study aimed to identify the critical issues like, production constraints, procurement constraints, marketing constraints, institutional constraints export constraint and financial constraints. A sample of 30 farmers and one agent, five exporters and 10 non-exporters 20 wholesalers and 30 retailers and 120 consumers from Ernakulam and Palakkad districts were selected for the study. The study identified the major problems faced by the stakeholders of branded rice market by using Garret’s ranking method. Farmers were facing difficulties in rice production due to high input costs, high labour costs and untimely availability of water. Delay in procurement from SUPPLYCO and adequate facilities for drying and cleaning compel them to sell their produce in the open market. There was a communication gap between institutions and farmers. Lack of transportation facilities, high maintenance cost of machinery and financial difficulties were the major constraints faced by PADDICO. High transportation cost, high international trade barriers and price volatility were the major constraints faced by private manufacturers of branded rice. Heavy documentation & procedures was the major constraint faced by exporters. Lack of demand of branded rice was the major constraint faced by resellers. High price was the major constraint faced by the consumers. The high cost of production faced by farmers can be reduced by improved mechanisation in the rice cultivation. The study also recommended the suggestions for the constraints of other market stakeholders of branded rice market.

Optimal power dispatch in microgrids using mixed-integer linear programming

Abstract As greenhouse gases emissions continue to rise, society is actively seeking methods to reduce them. Microgrids (MGs), which predominantly consist of renewable energy sources, play a significant role in achieving this objective. This paper proposes an optimized methodology for power dispatch in MGs using mixed-integer linear programming (MILP). The MGs include photovoltaic systems, wind turbines, biogas (BG) generators, battery energy storage systems (BESS), electric vehicles (EV), and loads. The model features an objective function focused on cost minimization, power balance, and the necessary limits and constraints for the system’s safe operation. Real-time pricing is employed for energy transactions between the MGs and the main grid. The results demonstrate a cost-efficient operation for the proposed system comprising two MGs and the main grid. During periods of negative power balance, the demand was met by discharging the BESS, EV’s battery, or purchasing energy from the grid. The BESS was charged when energy prices were low and discharged during peak demand periods and high energy prices. The intermittent nature of renewable sources necessitates an efficient management system to ensure reliable operation. Additionally, storage systems help mitigate the variability in generation. The BG generator was another crucial component for power supply due to its flexibility. Integrating these components into the system improved reliability and ensured a secure and balanced operation.