Industry Players Research Articles

Implementation of Halal Industry Policy as A Support for Halal Tourism In Lombok

In recent years, Lombok has emerged as a leading halal tourist destination in Indonesia and globally, supported by halal policies aimed at attracting Muslim and local tourists. These policies, including the Regional Regulation of West Nusa Tenggara Province Number 2 of 2016 on Halal Tourism and Law Number 33 of 2014 on Halal Product Guarantee, have positively impacted the tourism industry. This study addresses three main questions: (1) How are halal industry policies implemented to support halal tourism in Lombok? (2) How has the halal industry developed to support this tourism? (3) What are the supporting and inhibiting factors in implementing these policies?. The research is descriptive with a qualitative approach, using primary data from interviews and secondary data from relevant documents. Purposive sampling was employed, targeting officials from the West Nusa Tenggara Provincial Tourism and Industry Offices, the Indonesian Ulema Council of West Nusa Tenggara, tourism business actors, MSMEs, foreign and domestic tourists, and local communities. Data collection involved interviews, observation, and documentation, with data analysis through reduction, collection, and summarization. The study finds that implementing halal industrial policies has increased Muslim tourist numbers and strengthened Lombok's image as a halal destination. However, challenges remain, such as developing specialized halal tourism areas according to regional regulations without disrupting conventional tourism, improving services, providing halal facilities, and offering education and training for industry players.

Evolving intellectual property landscape for AI-driven innovations in the biomedical sector: opportunities in stable IP regime for shared success.

Artificial Intelligence (AI) has revolutionized the biomedical sector in advanced diagnosis, treatment, and personalized medicine. While these AI-driven innovations promise vast benefits for patients and service providers, they also raise complex intellectual property (IP) challenges due to the inherent nature of AI technology. In this review, we discussed the multifaceted impact of AI on IP within the biomedical sector, exploring implications in areas like drug research and discovery, personalized medicine, and medical diagnostics. We dissect critical issues surrounding AI inventorship, patent and copyright protection for AI-generated works, data ownership, and licensing. To provide context, we analyzed the current IP legislative landscape in the United States, EU, China, and India, highlighting convergences, divergences, and precedent-setting cases relevant to the biomedical sector. Recognizing the need for harmonization, we reviewed current developments and discussed a way forward. We advocate for a collaborative approach, convening policymakers, clinicians, researchers, industry players, legal professionals, and patient advocates to navigate this dynamic landscape. It will create a stable IP regime and unlock the full potential of AI for enhanced healthcare delivery and improved patient outcomes.

JAMINAN INDUSTRI HALAL DI NEGARA SINGAPURA DAN TAIWAN

Purpose: This study examines and compares the halal assurance processes in Indonesia, Taiwan, and Singapore. In addition, this study aims to assess the consequences of each system on the growth of the halal sector on a global and regional scale. Design/Methodology/Approach: This research utilises a comparative case study methodology with a qualitative approach. Through the investigation of official documents, data was collected. Regulations, certification requirements, and industry reports from each country were analyzed in the documents. Manufacturers, customers, and representatives from halal certification authorities were interviewed. To gain a first-hand understanding of the certification process and the application of regulations, field observations were also conducted. Findings: The findings show that Singapore, Taiwan, and Indonesia have different strategies for implementing halal assurance. Majlis Ugama Islam Singapura (MUIS) in Singapore operates a rigorous and globally renowned certification program. Taiwan concentrates on food and cosmetic products through the Taiwan Halal Integrity Development Association (THIDA). With the support of the world's largest Muslim community, Indonesia, the Halal Product Guarantee Agency (BPJPH), has established a comprehensive and integrated system. These different strategies affect the efficacy of halal products and consumer confidence in each country. Research Implications: The results of this study show how harmonization of international halal certification and standards can improve consumer confidence and increase international trade in halal goods. In addition, by incorporating best practices from other countries, policymakers and industry players can improve their halal assurance systems with the help of this study. This harmonization can guarantee more reliable halal products to Muslim consumers around the world and improve the global halal market position.

Space Security and the Law of International Space Cooperation: The Need for Leadership and Coordination

In recent times space exploration and technological advancements hold prominent importance, the merger of space security and international collaboration must be paid attention too. Whereby, during the recent advancements in space technologies which include the proliferation of satellite and emergence of various space programs, the non-commercial and sustainable utilization of space must be taken care of. This paper explores and access the methodologies adopted and put into motion by nation having a well-established space program to address the difficulties faced while maintaining the space security along with ongoing space explorations. This research study will also pay emphasis towards analysing the already existing legal framework which directly governs various outer space activities, international organizations, role of governments and private industry players towards shaping of governance in outer space. In order to build trust and furthering the shared objectives in outer space and resolution of disputes among nation states, emphasis on how significant and valued international cooperation and diplomacy can prove to be. The various risks factors such as deliberate actions which are testing of anti-satellite weapons and dispersion of space debris in high volumes that the assets in space encounter are explored in this research. This study also discusses about case studies that have impacted the outer space and space explorations and other space missions positively as well as negatively in past instances. This study concludes the necessity of proactive leadership and teamwork in addressing the issue of space security and the legislation of international space cooperation. Roles of significant stakeholders, implementation of future course of actions with necessary changes to guide and provide policymakers in understanding the complexity of space reforms for peaceful utilization of outer space for both current and future human race.

Actuation Drones in Agriculture: Advancing Precision Pest Management through Biocontrol and Modern Techniques

As global food demand surges, agricultural technology is essential for addressing challenges like environmental degradation, pollution, and water scarcity. Drones, or Unmanned Aerial Vehicles (UAVs), present a promising solution for precision agriculture by providing real-time, accurate data that enhances decision-making in crop management. In pest control, drones offer targeted delivery of natural enemies and biopesticides, improving efficiency and reducing reliance on chemical pesticides. This precision can lead to increased crop yields, reduced environmental impact, and improved livelihoods for farmers by lowering operational costs and optimizing resource use. Despite their potential, adopting drone technology in agriculture faces regulatory challenges, such as the need for certifications, flight restrictions, and operational guidelines. Addressing these regulatory hurdles is crucial for broader implementation. Moreover, collaboration among stakeholders—including researchers, policymakers, agricultural extension workers, and industry players—is vital for advancing drone-assisted pest management and ensuring its practical adoption in diverse farming environments. As we navigate these challenges, actuation drones hold immense promise for transforming pest management practices globally, contributing to sustainable agriculture and enhanced food security. Further research, development, and stakeholder engagement are necessary to fully realize the potential of drones in integrated pest management (IPM) systems.

Evaluating the potential of stabilised betacyanins from fermented red dragon fruit (Hylocereus polyrhizus) drink: Sustainable colouration and antioxidant enhancement of stirred yoghurt

Nowadays, the wide use of synthetic food colourant, Allura Red has elevated negative perceptions among consumers. As food industry players strive towards satisfying consumers’ demands, exploring new sustainable natural colourants with multifunctional properties (like betacyanins) has emerged as a novel concept. This study aimed to evaluate the potential of a functional fruit drink, Improved-FRDFD-dH2O [contained betacyanins of fermented red dragon fruit drink stabilised by 0.4 % xanthan gum and 0.5 % carboxymethyl cellulose hydrocolloid mixture solution and 0.2 % citric acid] to serve as a sustainable and stable functional liquid colourant in yoghurt. The 8-week refrigerated storage study revealed the betacyanins content in the yoghurt added with E162 experienced the lowest stabilities in terms of betacyanins content (>30 % degradation), viscosity (>15 % reduction), pH, LAB viability and antioxidant activity. In contrast, the Improved-FRDFD-dH2O was able to maintain the yoghurt's viscosity, syneresis, pH and LAB viability without any significant change. The betacyanins of Improved-FRDFD-dH2O had excellent stability in the yoghurt (<5 % degradation), showing only a minimal difference (ΔE<1.5) in total colour changes and being able to retain >86 % of the initial antioxidant activity by the end of storage. These findings support the Improved-FRDFD-dH2O as a sustainable functional colourant with antioxidant properties for producing beneficial yoghurt.

Modeling barriers to the adoption of metaverse in the construction industry: An application of fuzzy-DEMATEL approach

The idea of the metaverse has been rather popular in many different sectors since it provides immersive virtual reality where users may connect and participate. Leveraging metaverse technologies—such as virtual reality and augmented reality—for project visualization, collaborative design, and training simulations—in the building industry is attracting increasing attention. Notwithstanding its possible advantages, there is a clear knowledge vacuum on the obstacles preventing the general acceptance of metaverse technology in building. The study intends to close this gap by means of a literature review and analysis of the identified barriers using the fuzzy-DEMATEL technique, therefore separating the causal links among them. There were 26 obstacles found in the literature review and expert comments, arranged technically, organizationally, environmentally, socially, and economically. The most important obstacles shown by results are Security Concerns, Resistance to Change, Lack of Expertise, Siloed Departments, and Training and Education Needs. The results of this research provide building companies and legislators with important new perspectives and direction in developing plans to remove obstacles and encourage the use of metaverse technology. Moreover, the findings of the study provide a road map for industry players in tackling the important issue of restricted data capacities, thereby enabling a better and more successful integration of metaverse technology into building methods.

Determinants of financial well-being for emerging adults: the moderating effect of financial risk tolerance

PurposeThis study explores the determinants of financial well-being (FW) among emerging adults and investigates the moderating role of financial risk tolerance in the relationship between financial capability and financial behavior.Design/methodology/approachIn total, 257 useable data were collected from federal and private university students, representing Emirati emerging adults aged 18 to 29. The analysis employed a structural equation model through AMOS 17.0.FindingsStructural modeling results show that gender, monthly expenses, financial literacy and financial socialization influence financial capability and financial capability impacts both financial behavior and FW. Financial risk tolerance moderates the relationship between financial capability and financial behavior.Practical implicationsThis study offers insights useful for policymakers, industry players and educators seeking to address financial literacy, financial capability and financial behavior to enhance the FW of emerging adults.Originality/valueThe study sheds light on the intricate yet comprehensive FW model of emerging adults in a non-Western context. The study also offers a new, more complex view of the function of financial literacy and financial socialization in financial capability. Combining family financial socialization and risk-return theories in an organic viewpoint allows for a more in-depth examination of a critical distinction between the role of literacy and socialization in shaping attitude and behavior and its function as a platform for financial discourse, which can inform how educational efforts and social platforms can be leveraged to improve financial acumen and FW.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-08-2023-0668

Managing supply chain disruptions in the construction industry: an institutional approach

Purpose This study aimed to explore the institutional theory as a lens for investigating how construction firms adapt to supply chain disruptions. Specifically, the paper evaluates the interactions and interdependencies amongst various organizations, participants and institutions in the construction industry as a basis for a holistic, adaptive response strategy for managing supply chain disruptions. Design/methodology/approach Following the tenets of relativist philosophy and qualitative research methodology, this study explores the lived experiences of senior-level managers across major construction firms in New Zealand through in-depth semi-structured interviews, as a basis for understanding how their respective organizations adapt to supply chain disruptions. Findings The research findings suggest that aside from the formal rules that guide the conduct of construction firms as they adapt to supply chain disruptions, informal interactions that exist amongst various organizations and players in the construction industry could also enhance the development of innovative and practical response strategies to supply chain disruptions. Originality/value This study makes original empirical contributions to the supply chain management literature by providing insights into how construction firms demonstrate normative, coercive and mimetic isomorphic tendencies amidst the complexity of supply chain disruptions. Insights from this study could enhance the adaptive response of construction firms to supply chain disruptions while also improving the overall resilience of the built environment.

Avenues To Reduce Carbon Emission In Cement Fabrication To Acquire Carbon Credit

The cement industry accounts for roughly 8% of global carbon dioxide emission, and for every tonne of cement procured, a ton of carbon dioxide is released into the air. Cement industry is the backbone of global infrastructure development with no sign of slowing down, as such, it provides the most promising testbed for a carbon credit market to start up. Carbon credit functions as a conversion of money as payment to offset carbon dioxide emission, and can be acquired by reducing carbon emission or its greenhouse equivalents. This carbon credit can then be sold on the carbon market which provides financial incentive for companies to reduce their carbon emission. Acquiring carbon credit can be a viable capital gain strategy in developing nations due to their relatively low labor and overhead costs. This study aims to provide avenues to reduce carbon dioxide emission in cement fabrication as a way to acquire carbon credit for capital gain purposes to developing nations worldwide. This study uses literature review with a descriptive qualitative methodology, with data from relevant books and journals of renowned and reputable publishers online as validity. This study identified three promising avenues to reduce carbon dioxide emission in cement fabrication: alternative cement aggregate material fly ash and bottom ash, carbon capture and storage technology, and alternative fuel in cement fabrication. Three avenues provide pathways for players in the cement industry to adopt according to their capabilities in order to effectively reduce their carbon dioxide emission for acquiring carbon credit.

Investigation and Modelling of Barriers in Adoption of Blockchain Technology for Accounting and Finance

Blockchain technology has attracted considerable attention from both academicians and industry players in different industries, such as accounting and finance, because of its transformative potential of re-engineering the process of operation and enhancing the level of required transparency in these industries. However, despite the various possibilities of transforming the accounting and finance sectors, there are still numerous challenges that hinder the further development of blockchain technology in the domain. The various obstacles to the adoption of blockchain in accounting and finance are interconnected and include a diverse set of issues related to technology, organization, regulations, and knowledge. To overcome these obstacles, it is necessary to take a comprehensive approach that includes improving technical proficiency, encouraging cooperation among stakeholders, negotiating intricate regulations, and cultivating a culture of innovation and adaptation within enterprises.

Intelligent crude oil price probability forecasting: Deep learning models and industry applications

The crude oil price has been subject to periodic fluctuations because of seasonal changes in industrial demand and supply, weather, natural disasters and global political unrest. An accurate forecast of crude oil prices is of utmost importance for decision makers and industry players in the energy sector. Despite this, the volatility of crude oil prices contributes to the uncertainty of the energy industry, which was particularly challenging following the recent global spread of the COVID-19 epidemic and the Russia–Ukraine conflict. This paper proposes a hybrid deep learning (DL) modelling framework to deal with the volatility of crude oil prices, applying ensemble empirical mode decomposition (EEMD), convolutional neural network (CNN) and bidirectional long short-term memory (BiLSTM) integrated with quantile regression (QR); named EEMD-CNN-BiLSTM-QR. Two real-world datasets on crude oil prices from the West Texas Intermediate and Brent Crude Oil markets were employed to validate the EEMD-CNN-BiLSTM-QR hybrid modelling framework. Given that the probability density forecast can capture uncertainty, an in-depth analysis was carried out and prediction accuracy calculated. The findings of this study demonstrate that the proposed EEMD-CNN-BiLSTM-QR DL modelling framework, which uses the probability density forecast method, is superior to other tested models in terms of its ability to forecast crude oil prices. The novelty of this study stems mainly from its use of QR, which allows for the description of the conditional distribution of predicted variables and the extraction of more uncertain information for probability density forecasts.

Analisis Bibliometrik Industri Kreatif Berkelanjutan di Indonesia

This paper aims at providing an overview and synthesis of the existing body of knowledge about Creative Industry in Indonesia. Special attention is paid to the articles directly linked with sustainability creative industries in Indonesia. Design/methodology/approach – A bibliometric analysis was performed over 925 documents extracted from the Google Scholar database, using PoP, Zotero, and VOS viewer software programs. Findings – Publications related to the sustainable creative industry are still very minimal. The publication mainly reviews case studies and analyzes of the phenomena of creative industry activities in a narrow, local and thematic way. There have not been many publications regarding the theory, direction and future of sustainable industries globally. Social implications – The development of scientific knowledge about sustainability of creative industry puts this social claim on the spotlight of business management studies, helping bussinesmen and to reduce the environmental impact of corporate activities. Studying sustainability will help to reduce its frequency and, therefore, heal the planet. Conclusion - Facing the increasingly threat of damage due to developments in human needs, the sustainable industrial sector absolutely needs attention. Likewise in the creative industry sector. More attention is needed from the government and creative industry players to place greater emphasis on environmentally friendly and socially friendly industries. Thus, Scientific studies that examine sustainable creative industries must be increased and become a concern for all of us

Analisis Implementasi Pendidikan dan Pelatihan Human Capital di Industri Kreatif

Creative industries play an important role in the global economy, and the development of high-quality human resources is essential to drive innovation and productivity. The purpose of this study is to analyze the status of the implementation of human resource development and training in the creative industry. Using a qualitative approach, data was collected through in-depth interviews with industry players, academics, and policy makers, as well as analysis of related documents. The results showed that the combination of formal and non-formal education, cooperation between industry and educational institutions, and the use of modern technology play an important role in the development of human resources. Although formal education provides a solid theoretical foundation, non-formal education and technologies such as e-learning and VR can help improve certain practical skills according to market needs. . Collaboration between industry and educational institutions ensures relevant curricula and valuable practical experience for learners. Despite challenges such as limited resources and rapid technological change, effective education and training can enhance the competitiveness and growth of creative industries.

Marketing and food consumption: Nurturing new possibilities

This article introduces the RAM 2024 Special Issue on Marketing and Food, designed to report on and stimulate new scientific advancements in the field. It discusses the conflicting concerns related to food consumption and the emerging practices of consumers and industry players. The Special Issue explores how consumers react to new technologies used in post-purchase situations through the representation of experiences via social media (David et al., 2024). Food is at the heart of today’s sustainability issues, and this Special Issue shows that the environmental impact of food consumption is influenced by the provisioning systems geographically available for consumers (Mourre et al., 2024) and by the perceived and objective accessibility of local food at the moment of choice (in supermarkets or restaurants; Garcia et al., 2024). Consumers’ reactions to retailers’ sustainable initiatives to manage and prevent food waste are shown to be ambivalent (Hanan et al., 2024), revealing a complex relationship. Finally, the Special Issue explores consumers’ reconnection with food consumption through mindful eating, allowing a greater focus on internal sensations and fostering awareness of both personal motivations and the environmental impact of consumption (Dupont Le Priol and Schmitt, 2024). Avenues for future research and implications for practice and policy are discussed.

Climate strategies for oil and gas production under the lens of an Integrated Assessment Model: The case of Brazil

Future projections of oil and gas demand suggest that some production will remain necessary. Although attention often focuses on CO2 emissions from the combustion of their products, oil and gas production is also a relevant global emission source of both CO2 and CH4. Hence, understanding the carbon performance of upstream activities in producing nations is vital for distinguishing producers in a climate-pressured global market. This work explores climate strategies for the oil and gas upstream sector, using Brazil as a case study. The sector´s emissions profile is evaluated under distinct national climate scenarios. The analysis employs BLUES, a national Integrated Assessment Model (IAM), to access production volumes, mitigation measures applicable to the sector, and carbon dioxide removal potentials within the country to eventually offset the sector's remaining emissions. Results indicate sustained oil and gas production over the evaluated horizon (2020–2050) without compromising national climate goals, yet the sector's future emissions trajectory does not align with decarbonization targets pursued by more ambitious oil-producing nations and industry players. Despite sectoral mitigation measures indicated by the model, considerable emissions remain until 2050. Conversely, the country offers ample offsetting opportunities with potential synergies for the sector, especially through BECCS. Furthermore, the acceptability of offsets is discussed.

A Surrogate Model's Decision Tree Method Evaluation for Uncertainty Quantification on a Finite Element Structure via a Fuzzy-Random Approach

A novel additive manufacturing method (AM)) constructs a three-dimensional model from a computer-aided design by adding material layer by layer. This technique produces a lightweight end product with complex geometries and has gained recognition among industrial players. Nonetheless, the mechanical properties and geometry components are the uncertainties that prevail in its structures. An alternative approach using the Finite Element Method (FEM) to analyse these uncertainties demands extensive computational effort and time consumption. Therefore, a machine learning (ML) tool using the surrogate modelling technique offers an alternative way to provide and predict simulation outcomes. This study applies two surrogate modeling approaches, the decision tree (DT) and the Gaussian process regression (GPR) methods. Output data from a FEM simulation with uncertainty elements are obtained for the training purposes of the surrogate models. Both ML methods can predict simulation results with high precision. Both approaches obtained an excellent coefficient of determination value, R2 of 0.998, and Root Mean Square Error, RMSE of 0.012, successfully reducing time consumption and computational effort. The DT method shows better robustness when compared to the GPR method. A value change in the input parameter significantly impacts the surrogate model's prediction performance. An adequate quantity of data input for the training phase of both surrogate models exhibits the FEM results with the presence of uncertainty and robustness.

DOES ESG INVESTMENT IMPACT THE FINANCIAL SUSTAINABILITY OF NIGERIAN ENERGY COMPANIES: A PANEL REGRESSION APPROACH?

The destruction of around 5% to 10% of Nigerian mangrove ecosystems and the disappearance of approximately 7,400 square kilometres of rainforest have shifted managerial priorities in Nigeria's energy sector from purely financial gain to increased social responsibility. The rising concerns regarding climate change, environmental risks, social well-being, and sustainability have propelled ESG investment to the forefront of corporate sustainability considerations. The study delves into the influence of ESG investment on the financial sustainability of listed industry players in Nigeria's oil and gas industry. By utilizing quantitative data from sustainability and corporate annual reports of listed firms on the Nigeria Exchange Group from 2013 to 2023, a fixed pooled panel regression model was conducted to statistically test the three hypotheses anchored on the ESG nexus on financial sustainability. The findings indicate that the relationship between environmental investments, measured by environmental emissions, and return on assets (ROA) for the examined listed entities is insignificant. However, the research establishes a notable correlation between social investing practices, quantified by workforce size, and ROA, displaying a positive coefficient. Moreover, the study does not confirm a substantial impact of governance investing practices, measured by board size, on the ROA of the scrutinized corporations. The research acknowledged the impact of ESG on the financial sustainability of Nigeria’s energy sector. The research recommendations include integrating ESG factors into investment strategies, enhancing disclosure and transparency, improving risk management and resilience measures, and collaborating with policymakers.

Strategic Resilience and Financial Analysis of Merck &amp; Co., Inc.: Navigating Challenges and Opportunities in the Pharmaceutical Industry

This study provides a comprehensive analysis of Merck &amp; Co., Inc. (MRK), a prominent player in the global pharmaceutical industry, known for its significant contributions to healthcare through the development of innovative drugs and vaccines. Merck's core focus areas include pharmaceuticals, vaccines, animal health, and healthcare services, with its flagship oncology drug Keytruda being a major revenue contributor. The company faces challenges such as regulatory changes in drug pricing and competition from biosimilars and generics. To mitigate these challenges, Merck has initiated restructuring plans, including the 2024 Restructuring Plan, to optimize operational efficiency and achieve significant cost savings. The paper also presents a comparison of Merck's financial performance with industry peers - Johnson &amp; Johnson, AbbVie and Bristol-Myers Squibb - and evaluates liquidity, solvency and profitability metrics. Despite certain challenges, Merck's robust market positioning, strategic acquisitions, and active involvement in the development of COVID-19 vaccines and therapeutics underscore its potential for sustainable growth. Overall, the study concludes that Merck's strategic investments, coupled with its strong financial position and proactive restructuring efforts, make it an attractive investment prospect, particularly in its core therapeutic areas of oncology and immunology. This paper suggests that future research could delve deeper into the long-term impact of R&amp;D investments, the intricacies of restructuring plans, and evolving market trends to provide a more nuanced understanding of Merck's strategic planning.

BibMon: An open source Python package for process monitoring, soft sensing, and fault diagnosis

This paper introduces BibMon, a Python package that provides predictive models for data-driven fault detection and diagnosis, soft sensing, and process condition monitoring. Key features include regression and reconstruction models, preprocessing pipelines, alarms, and visualization through control charts and diagnostic maps. BibMon also includes real and simulated datasets for benchmarking, comparative performance analysis of different models, and hyperparameter tuning. The package is designed to be highly extensible, allowing for easy integration of new models and methodologies through its object-oriented implementation. Currently, BibMon is in production at Petrobras, a major player in the energy industry, monitoring numerous industrial assets and enabling real-time detection and diagnosis of equipment and process faults. The software is open source and available at: https://github.com/petrobras/bibmon.