Profit Maximization Research Articles

A bi‐level optimization model and improved algorithm for wind farm layout

AbstractWind farm can obtain the maximize profit by optimizing micro‐locations and cables. The factors that affect profit include the power output of wind turbines, cost and et al., where power output is affected by wake effect, cable cost is related to the length and type of collector cable. The profit is calculated on the premise that the costs and power loss of collector cable are determined. Obviously, there is a hierarchical relationship between the above problems. Therefore, a bi‐level optimization model with constraints is constructed in this paper, where the upper‐level objective function is the maximum profit, and the lower‐level objective functions are consists of minimum the cable cost and the power loss of collector cable; Moreover, an improved algorithm (IDEDA), based on differential evolution and Dijkstra, is used to optimize above model; Finally, simulation experiments are carried out for IDEDA and four algorithms for two different wind conditions, and the results show that IDEDA performs better compared to the other four algorithms in terms of profit and cable cost.

Business on Nickel Downstreaming with China and European Union Lawsuits

That the downstream nickel business between Indonesia and China aims to obtain maximum profits for the welfare of the Indonesian people, which is based on legal regulations issued by the Indonesian government. As Chinese companies are building purification and processing plants or nickel smelters in Indonesia with a large investment value, the Indonesian government obtains a substantial advantage from the export through the export of domestically processed nickel. Also, Indonesian and Chinese companies both benefit from having a nickel smelter or refining and processing factory in Indonesia. These advantages encompass Chinese investment in Indonesia, job creation in Indonesia, and increased export outcomes. However, this development has raised concerns in the European Union, primarily because Indonesia recently banned the export of nickel ore. Instead, Indonesia has encouraged the domestic processing of nickel ore to add value to nickel products. Indonesia as one of the world’s largest nickel producers has regulations in terms of nickel exports. This is stated in the Regulation of the Minister of Energy and Mineral Resources Number 11 of 2019 concerning the Second Amendment to the Regulation of the Minister of Energy and Mineral Resources Number 25 of 2018 concerning the Business of Mineral and Coal Mining. In this regulation, Indonesia imposes a ban on the export of nickel ore. Related to this ban, the European Union also reacted by filing a lawsuit filed at the World Trade Organization (WTO). Based on the Constitution, the welfare of the Indonesian people is the main goal through the management of natural resources, so outside parties or other countries cannot intervene.

Optimal Allocation of Distributed Generation Using Lightning Search Algorithm for Profit Maximization in a Distribution System

Optimal Allocation of Distributed Generation Using Lightning Search Algorithm for Profit Maximization in a Distribution System

A Conceptual Study on Role of Business Ethics and Corporate Governance in the Growth of Organization

The main goal of any business worldwide has been shifted from greater productivity and profit maximization to sustainable development. If an organisation opt for long-term objectives, it must go for long-run sustainability. Organisational ethics is a wider topic which is crucial for any business success. Ethical behavior is an important element of sustainability. The word "sustainability" has come out, along with social responsibility and corporate governance, as important business situation today. This paper focuses on integration of ethical climate and culture in an organisation that influences ethical decision making and outcomes, which result into sustainable development. It is a challenge for the organisations to remain ethical to stakeholder under the uncertain situation. They are expected to benefit the society in large. Keywords: sustainable development; corporate governance; business ethics; corporate social responsibility; environmental factors.

A two-step optimization model for virtual power plant participating in spot market based on energy storage power distribution considering comprehensive forecasting error of renewable energy output

As a complement to the medium and long-term market, the spot market plays an important role in maintaining the security and stability of the power grid. However, as spot trading is more proximate to the actual operation of the power system, the virtual power plant (VPP) is exposed to greater volatility in renewable energy output as well as market prices. To enhance its market competitiveness, this paper constructs a two-step optimization model for VPP participation in the spot market. Based on long-term transaction, the energy storage power is distributed based on the comprehensive forecasting error of renewable energy output. This makes the VPP obtain the maximum profit in the day-ahead market. The trading deviation penalty is reduced by adjusting the energy storage operation plan in the real-time market. The conditional value at risk is used to measure the risk of a trading strategy. The profit of VPP participation in the spot market is analyzed under different risk levels, thus providing a basis for decision makers with different risk appetites. The results show that: (1) The sensitivity of the growth rates of EtVaRαand EtCVaRα to risk level shows an opposite trend. And there is an excess of arbitrage power at low risk level. (2) Although the total cost decreases as the risk level increases, the actual profit in the spot market tends to increase and then decrease. The risk level of the VPP should be set at about 0.4 to make full use of energy storage and obtain the maximum market benefit. (3) The energy storage power can be distributed more accurately according to the forecasting error of renewable energy. This not only enhances its arbitrage ability, but also ensures its regulation ability, thus improving the overall benefit of VPP at different risk levels. (4) The sensitivity of the trend in the unit profit of traded quantity in the spot market to the trading proportion in the medium and long-term market is not monotonic.

Grid frequency regulation through virtual power plant of integrated energy systems with energy storage

AbstractOwing to the widespread integration of renewable distributed energy resources (DERs), the system frequency stability has been jeopardized by the non‐inertial and stochastic units caused by power electronic devices. The integrated energy system (IES) that combines multi‐vector energy resources can provide energy compensation among sub‐systems in a coordinated fashion to further alleviate the volatility on the electric grid. Under the framework of IES, a virtual power plant (VPP) can aggregate multi‐entities and multi‐vector energy resources to participate in the frequency regulation service while pursuing profit maximization. A three‐stage optimal scheduling model of IES‐VPP that fully considers the cycle life of energy storage systems (ESSs), bidding strategies and revenue settlement has been proposed in this paper under the modified PJM frequency regulation market framework to motivate the aggregated resources to respond to the frequency regulation market actively. The simulation results under various scenarios have verified the feasibility and effectiveness of the proposed model through techno‐economic analysis, the advantages of IES‐VPP have been demonstrated compared with a single vector energy system.

Exploring the Confluence of Financial Innovation, Human Resource Strategies, and Marketing Management: A Systematic Literature Review on Profit Maximization and Business Attraction

This study aims to explore the intricate relationships between financial innovation, human resource (HR) strategies, and marketing management, and how their integration drives organizational success, particularly in terms of profitability and business attraction. Utilizing a systematic literature review, the research synthesizes findings from various academic sources to provide a balanced and comprehensive understanding of these interdependencies. The methodology focuses on analyzing the existing literature to identify the conditions under which financial innovation, HR strategies, and marketing management can be most effectively integrated. The results indicate that financial innovations such as fintech and blockchain significantly enhance organizational profitability when aligned with strategic HR practices and customer-centric marketing approaches. The study further reveals that the successful implementation of these innovations requires substantial investments in employee training and adaptive marketing strategies that resonate with consumer needs. The findings underscore the importance of adopting a holistic approach, where financial innovation, HR, and marketing are treated as interconnected components of a unified business strategy. This integration not only enhances competitiveness but also positions organizations to navigate the challenges of a rapidly evolving business environment. The study offers valuable theoretical and managerial implications, providing a framework for future research and practical guidance for business leaders and policymakers on leveraging these domains for sustainable growth.

Environmentally clean and dirty energy equities during extraordinary global conditions

I examine which extraordinary international events coincide with pronounced changes in the equity markets for some of the world’s largest publicly traded suppliers on opposite sides of the global energy mix — oil and environmentally clean energy companies. First, I adapt an intuitively appealing non-parametric filter to empirically timestamp unexpected and prominent increases and decreases in a wide range of global indicators relevant to the international energy market. Then, I use such extraordinary conditions to characterise the performance of oil and environmentally clean energy equities, and their relationships. My findings suggest that jumps in the global stock market, international crude oil market shocks, and the US dollar real effective exchange rate, are the indicators that define the financial landscape during which considerable gains, losses, and instability across both types of energy markets materialise. In contrast, major elevated uncertainties related to geo-political risk and climate policy reflect relative stability in the equities of both oil and environmentally clean energy companies. Although these results imply that both energy assets are potentially lucrative hedging strategies for investors to exploit during heightened geo-political and climate policy uncertainties, clean energy equities offer market participants the option to combine profit maximising and sustainability objectives while minimising global energy security risks.

A Bilevel Approach for Compensation and Routing Decisions in Last-Mile Delivery

In last-mile delivery logistics, peer-to-peer logistic platforms play an important role in connecting senders, customers, and independent carriers to fulfill delivery requests. As the carriers are not under the platform’s control, the platform has to anticipate their reactions while deciding how to allocate the delivery operations. Indeed, carriers’ decisions largely affect the platform’s revenue. In this paper, we model this problem using bilevel programming. At the upper level, the platform decides how to assign the orders to the carriers; at the lower level, each carrier solves a profitable tour problem to determine which offered requests to accept, based on her own profit maximization. Possibly, the platform can influence carriers’ decisions by determining also the compensation paid for each accepted request. The two considered settings result in two different formulations: the bilevel profitable tour problem with fixed compensation margins and with margin decisions, respectively. For each of them, we propose single-level reformulations and alternative formulations where the lower-level routing variables are projected out. A branch-and-cut algorithm is proposed to solve the bilevel models, with a tailored warm-start heuristic used to speed up the solution process. Extensive computational tests are performed to compare the proposed formulations and analyze solution characteristics. Funding: The research of E. Fernandez was partially funded through the Spanish Ministerio de Ciencia y Tecnología and European Regional Development Funds (ERDF) [Grant MTM2019-105824GB-I00]. The research of C. Archetti, M. Cerulli, and I. Ljubić was partially funded by CY Initiative of Excellence, France [Grant “Investissements d’Avenir ANR-16-IDEX-0008”]. Supplemental Material: The online appendix is available at https://doi.org/10.1287/trsc.2023.0129 .

Innovative Insurance and Profit Modeling: Integrating ARIMA and LSTM for Risk Assessment and Profit Maximization Strategies

Innovative Insurance and Profit Modeling: Integrating ARIMA and LSTM for Risk Assessment and Profit Maximization Strategies

Collaborative operation strategy of multiple microenergy grids considering demand‐side energy‐sharing behavior

AbstractIn recent years, as the energy market continues to change, an emerging business model is gradually emerging as an energy provider (EP). The participation of EP as an independent entity in the distribution network investment model not only helps realize a win–win situation for multiple stakeholders but also promotes the innovation and sustainable development of the energy industry. However, in the energy system, EPs, grids, microenergy grids (MEGs), and shared energy storage service providers usually belong to different stakeholders, and their respective pursuit of profit maximization can easily lead to uncontrolled competition, which greatly reduces market efficiency. To address the varying ownership structures within the energy system, a refined bilevel coordinated optimization operation model is introduced, rooted in the master–slave game theory. In this model, the EP assumes the role of the master, while the MEG operator and the shared energy storage operator (SESO) act as slaves. A peer‐to‐peer energy‐sharing mechanism between MEGs and an energy trading mechanism between MEGs and shared energy storage is used to further increase the local consumption rate of new energy. Simulation results demonstrate that the proposed method not only boosts the revenues of an EP, SESO, and MEG operators but also effectively accounts for the MEG's energy storage needs and SESOs' profitability.

Statistical analysis of the transformation of agricultural production in various categoriesof farms and forms of management

Agriculture is a complex material process, where the starting point is the presence of certain factors of production, productive forces and a special factor — land resources. The functioning and development of agriculture are associated with numerous threats and risks that require their assessment, monitoring, identification, taking into account the size of the industry, which is important from the point of view of forming directions for further promising development, obtaining maximum profit at the lowest cost. The institutional component also remains extremely important: the optimal form of organization of agricultural production, in which the available resources can be used in the best way. For the most complete and comprehensively in-depth assessment of the quantitative and qualitative transformation of the agricultural sector, the methodology of statistics has been applied. Based on the use of Salai and integral Ryabtsev indicators, the article characterizes the structural differences in agricultural production in the context of business categories and organizational and legal forms over 30 years; substantiates approaches to the optimal selection and use of analytical tools to assess the size of production in order to identify the most effective. Based on the estimated data, the main trends in the development of the industry have been identified, the results of the functioning of the activities of a set of organizations by categories of farms and organizational and legal forms have been summarized. The provisions of the article can be used to model threats, risks and predict the further vector of agricultural development in the formation of directions of state support, adjustment of fiscal policy for different categories of farms.

Technological catch-up, nonmonotonicity, and convergence: Parametric evidence from the BRICS and European banking systems

IT-driven productivity growth offers banks an intriguing opportunity to differentiate their offerings in a monopolistic market, introduce attractive products, enhance customer service, streamline back-office processes, and ultimately achieve the twin goals of cost minimization and profit maximization. However, there has been no convincing explanation for the observed divergence in the IT-productivity literature, raising doubts about whether IT can significantly improve performance in contemporary banking markets. The article examines the role of IT-led productivity growth in governing the direction and magnitude of intra-industry and inter-country convergence by investigating the potential nonmonotonicity of IT in influencing frontier-based efficiency of the BRICS and European banking markets. Findings reveal U-shaped associations between IT and cost (profit) efficiency, suggesting that excessive investment in IT may explain the productivity conundrum for BRICS nations. IT capital is not a significant driver of cost efficiency for European nations. Nevertheless, R&D spending significantly influences frontier efficiency, reinforcing that European banks can achieve frontier-level performance by investing in innovative solutions. Inter-regional comparisons reveal that BRICS banks are converging with their European counterparts by leveraging IT solutions, while diminishing marginal benefits for the latter reinforces the presence of a catch-up effect. Intra-industry comparisons reveal that size, age, and R&D intensity drive technological catch-up and convergence.

Response of Maize (<i>Zea may</i> <I>L.</I>) Cultivars to Urea Time Application on Phenology, Growth and Grain Yield at Bako, East Wollaga, Ethiopia

The results of this research provide a basis for additional exploration and advancement, which will culminate in suggestions for the timing of split urea treatment and cultivars for sustainable maize production within the study region. During the 2019 and 2020 growing seasons, a field experiment was conducted at the Bako Agricultural Research Center to determine the response of hybrid maize cultivars to urea split application on phenology, growth, and grain production. In the experiment, six levels of urea split application were applied to two types of corn. T1 = 1/2 dose of urea at planting + 1/2 dose of urea at Knee height; T2 = 1/2 dose of urea at planting + 1/2 dose of urea at tasseling; T3 = 1/ 3 dose of urea at planting + 1/3 dose of urea at knee height + 1/3 dose of urea at tasseling; T4 = 2/3 dose of urea at knee height + 1/3 dose of urea at tasseling; T5 = 1/2 dose of urea at knee height + 1/2 dose of urea at tasseling; and T6 = 1/4 dose of urea at planting + 1/2 dose of urea at knee height + 1/4 dose of urea at tasseling. The experiment's randomized complete block design made use of three replications. The primary effects of the urea split time of application were found to have a substantial impact on plant height, 90% physiological maturity, grain production, total leaf area per plant, and leave area index. Three urea split applications 1/4 dosage at planting, 1/2 dose at knee height, and 1/4 dose at tasseling provided the maximum net benefit of EB 246,536.7 ha-1 and the best marginal rate return of 2822.26% for maize output. In conclusion, urea split application 1/4 doses at planting stage 1/2 dose at knee-height and 1/4 dose at tasseling stage is the best time of application in good rainy seasons and hence recommended for the end users. However, in the case of erratic and heavy rainy seasons, application at three times should be used to get maximum profit and acceptable MRR.

Analysis of the Application of Target Costing in Managing Production Costs to Increase Profits in the Solo Medan Sausage SME

The implementation of target costing by an UMKM trader aims to reduce total costs from the previous total costs so that the company can get maximum profits without having to increase its selling price. This research aims to analyze whether the application of the Target Costing method in managing production costs at Solo Medan Sosis UMKM can optimize profits as expected. This research was conducted using a qualitative and descriptive approach method and was carried out in the city of Medan starting in December 2023. The results of this research show that by using the Target Costing method the required production costs can be minimized so that the profits obtained can be further optimized in accordance with the company's expectations. without increasing product prices. So the conclusion is that the Target Costing method can be an alternative for Solo Medan Sosis UMKM in determining production cost.

Budget-constrained profit maximization without non-negative objective assumption in social networks

Budget-constrained profit maximization without non-negative objective assumption in social networks

Grade control drillhole spacing and mining selectivity determination using high resolution simulations applied on distinctly heterogeneous open pit mines

The grade control drillhole spacing and mining selectivity decisions are typically made using the resource model estimated from exploration and infill drilling data. Once production starts, large quantities of grade control data are collected to delineate ore and waste boundaries for ore control. In this work, a grade control drillhole spacing and mining selectivity optimization workflow is presented which allows the practitioner to use site specific knowledge to determine the most profitable ore control mining scenario. The densely gridded production data is used to simulate a ground truth block model from which scenarios of variable drillhole spacing and selectivity are evaluated against their corresponding costs to determine the maximum profit scenario. Eleven mining scenarios are evaluated using year production data from three distinctly heterogeneous mine with drillhole spacing and mining selectivity varying from 3 × 3 × 3 m (27 m3) to 30 × 30 × 15 m (13,500 m3). The profit differences from the optimum scenario varied by millions of dollars (1–8%) against the next best case depending on the heterogeneity of the deposit. Practitioners could apply this workflow to inform grade control drillhole spacing and mining selectivity decisions for different domains within the mine or multiple pits especially if distinctly heterogeneous volumes exist.

A comparative analysis of metaheuristic algorithms in interval-valued sustainable economic production quantity inventory models using center-radius optimization

The real-world production inventory systems involve uncertainties surrounding demand, production, defectiveness, and costs, which pose significant challenges. Various methodologies, including interval, fuzzy, stochastic, and fuzzy-stochastic approaches, have been developed to address these challenges. Among these, the interval approach offers a realistic representation of uncertainty. This study develops a green production model within an interval-based framework, incorporating interval-valued representations of defective rates and demand, which is also stochastic in nature. Differential equations governing inventory levels are formulated in an interval format and solved using advanced parametric techniques. The study extends to profit optimization within this interval-based framework, with the profit maximization problem transformed into a crisp form using interval order relations and center-radius optimization. The optimized solution is obtained through various metaheuristic algorithms. A numerical example validates the proposed model, and sensitivity analyses explore variations in different algorithms and inventory parameters. Additionally, statistical analysis using ANOVA tests is performed. This research contributes to production inventory management by providing a robust framework for handling uncertainty and optimizing performance in real-world scenarios.

MODERASI KEBIJAKAN DIVIDEN DALAM MEMPENGARUHI PROFITABILITAS DAN LIKUIDITAS DALAM MENINGKATKAN NILAI PERUSAHAAN PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BEI TAHUN 2019-2022

The ultimate goal desired and achieved by a company is to obtain the maximum profit (profit) because to maintain the survival of a company. Profitability has many benefits, especially not only for company owners but also for parties outside the company. The purpose of this study was to determine the effect of dividend policy in moderating profitability and liquidity on firm value. The sampling technique used in this research is Purposive Sampling. The population in this study were LQ45 companies listed on the IDX in 2019-2022. Data analysis and hypothesis testing in this study used the Structural Equation Model - Partial Least Square (PLS-SEM). The results of direct influence hypothesis testing using the Smart PLS 3.0 application, show that Profitability has a negative but insignificant effect on Firm Value, Liquidity has a negative but insignificant effect on Firm Value, Dividend policy positively but insignificantly moderates (weakens) the effect of Profitability on Firm Value, Dividend policy positively but insignificantly moderates (weakens) the effect of Liquidity on Firm Value.

MENGUJI PENGARUH FAKTOR-FAKTOR RATIO TERHADAP KINERJA KEUANGAN PERUSAHAAN DENGAN ANALISIS REGRESI LINEAR BERGANDA

This research aims to examine the effect of profitability ratios as measured by Return On Assets (ROA), liquidity ratios as measured by Current Ratio (CR), and solvency ratios as measured by Debt to Total Asset Ratio (DAR) on measured financial performance. with Total Assets Turnover (TATO). The population in this research is Hotel Sahid Jaya Tbk. The data used in this research are financial reports from 2017 to 2021. This research uses multiple linear regression analysis methods which are processed using SPSS version 25 application tools. The results of this research show that the profitability ratio has no effect on financial performance because the company has a good financial position. It is not good in terms of net profit, while the liquidity ratio also has no effect on financial performance, and the solvency ratio (DAR) has no effect on financial performance (TATO). The contribution of this research is the use of assets to obtain and increase profits as well as re-evaluating all current assets owned to pay long and short term debts, so that the company can increase maximum profits.