Scrap Value Research Articles

Pricing and inventory problem in shrimp supply chain: A case study of Taiwan's white shrimp industry

In this paper, we study the price scheme and the inventory control within a shrimp supply chain and compare the performance between a centralized supply chain and a decentralized supply chain. The proposed models determine the optimal price and inventory level in a shrimp supply chain for farmer, wholesaler and market under various scenarios. The models are empirically applied to the cultivated white shrimp in Taiwan and sensitivity analyses are conducted on farm-gate price, market price and scrap value respectively. Contrary to common acknowledgement, numerical results demonstrate that a centralized shrimp supply chain does not necessarily yield better performance. We found that the cost structure can significantly affect the centralized or decentralized levels of the shrimp supply chain and lead to counterintuitive outcomes. The proposed model can serve not only as a policymaking tool for public authorities, but also as a strategy evaluation framework for private firms. Statement of relevanceCultured shrimp supply chain has been criticized for its economic and environmental influence on society. We investigate various types of shrimp supply chain and evaluate the performance based on different cost structures. Based on these scenarios, policy makers can choose an appropriate type so that the impact of shrimp supply chain can be mitigated.

Life cycle assessment of resource recovery from municipal solid waste incineration bottom ash

Bottom ash, the main solid output from municipal solid waste incineration (MSWI), has significant potential for the recovery of resources such as scrap metals and aggregates. The utilisation of these resources ideally enables natural resources to be saved. However, the quality of the recovered scrap metals may limit recycling potential, and the utilisation of aggregates may cause the release of toxic substances into the natural environment through leaching. A life cycle assessment (LCA) was applied to a full-scale MSWI bottom ash management and recovery system to identify environmental breakeven points beyond which the burdens of the recovery processes outweigh the environmental benefits from valorising metals and mineral aggregates. Experimental data for the quantity and quality of individual material fractions were used as a basis for LCA modelling. For the aggregates, three disposal routes were compared: landfilling, road sub-base and aggregate in concrete, while specific leaching data were used as the basis for evaluating toxic impacts. The recovery and recycling of aluminium, ferrous, stainless steel and copper scrap were considered, and the importance of aluminium scrap quality, choice of marginal energy technologies and substitution rates between primary and secondary aluminium, stainless steel and ferrous products, were assessed and discussed. The modelling resulted in burdens to toxic impacts associated with metal recycling and leaching from aggregates during utilisation, while large savings were obtained in terms of non-toxic impacts. However, by varying the substitution rate for aluminium recycling between 0.35 and 0.05 (on the basis of aluminium scrap and secondary aluminium alloy market value), it was found that the current recovery system might reach a breakeven point between the benefits of recycling and energy expended on sorting and upgrading the scrap.

Shipping market integration: The case of sticky newbuilding prices

In this article we derive an equation defining contemporaneous equilibrium prices across the four shipping markets: the newbuilding market, the second-hand market, the demolition market and the freight market. The model requires rather general conditions, namely that (i) all second-hand ships are priced based on linear depreciation down to scrap value, (ii) expectations of the future scrap value and lifespan of the vessel are equal to current values and (iii) the term structure of (time charter) freight rates is observable. In the empirical part of the article we use this equilibrium relationship to illustrate the presence of a ‘term structure of newbuilding prices’ and show that the lower volatility of newbuilding prices compared with second-hand values is a result of a time-varying delivery lag, which is positively correlated with the alternative cost of operating in the freight market. These observations are important for statistical analysis of the dynamics of ship values.

Surface characterization of polystyrene treated with ozone and grafted with poly(acrylic acid)

Polystyrene (PS) is one of the most widely used thermoplastic polymers and is often not recycled because of its light weight and low scrap value. The discarded PS in landfill sites has limited capacity for water absorption, and physical and chemical properties that make it relatively inert. To increase wettability and introduce oxygen-containing functional groups, PS was treated at room temperature with ozone in the absence of the UV radiation which was used to make the ozone from the photodissociation of oxygen. X-ray photoelectron spectroscopy detected the increase of oxygen content on the PS surface and the formation of functional groups with reaction time. Advancing contact angle measurements showed an increase of hydrophilicity with treatment time. The superabsorbent polymer poly(acrylic acid) was partially and/or thinly grafted onto the modified PS surface.

Identification and counterfactuals in dynamic models of market entry and exit

This paper addresses a fundamental identification problem in the structural estimation of dynamic oligopoly models of market entry and exit. Using the standard datasets in existing empirical applications, three components of a firm’s profit function are not separately identified: the fixed cost of an incumbent firm, the entry cost of a new entrant, and the scrap value of an exiting firm. We study the implications of this result on the power of this class of models to identify the effects of different comparative static exercises and counterfactual public policies. First, we derive a closed-form relationship between the three unknown structural functions and the two functions that are identified from the data. We use this relationship to provide the correct interpretation of the estimated objects that are obtained under the ‘normalization assumptions’ considered in most applications. Second, we characterize a class of counterfactual experiments that are identified using the estimated model, despite the non-separate identification of the three primitives. Third, we show that there is a general class of counterfactual experiments of economic relevance that are not identified. We present a numerical example that illustrates how ignoring the non-identification of these counterfactuals (i.e., making a ‘normalization assumption’ on some of the three primitives) generates sizable biases that can modify even the sign of the estimated effects. Finally, we discuss possible solutions to address these identification problems.

Offshore wind structure weight algorithms

Decommissioning requirements for offshore renewable energy facilities in US federal waters requires that all facilities be removed and the seafloor be cleared of all obstructions at the end of the life of the lease. Before construction activities are permitted, developers are required to post a bond based on the estimated cost of decommissioning to ensure that the federal government is protected in case of company default. The purpose of this note is to provide weight algorithms of offshore wind farm components to estimate the lift requirements in decommissioning, the scrap value of material, and disposal cost. Weight algorithms are calibrated and compared with North Sea project data and examples illustrate the procedures. The component weights at the Cape Wind farm offshore Massachusetts are estimated.

SOLID WASTE MANAGEMENT and SOCIAL ENTREPRENEURSHIP - A key to sustainable development

The variety of waste which includes organic, Food, Plastics, Pet bottles, Glass, rubber, tin, less scrap value, thin plastic, thick plastic, cardboards, silts, coconut leaves and others were collected from 4 zones of Pammal Municipality region in order to reduce the scope of reducing the land-filling. According to their applications waste material were used for Briquettes making. The Briquettes made from waste material were given to tea shops and ironing shops in order to replace the coal. The uses briquette with coal as when he only uses the briquette, more heat is generated and it might damage the cloth. It indicates that briquette has more calorific value which is been supported by the proximate data analysis or briquette and coal. It comes out to be cost effective. As the cost of briquette is less than coal. Secondly, if we reduce the recycling which we give to vendors then shredding and up-cycling has a huge potential, whereas new buyers can be searched for and briquettes manufacturing can be increased.

On The Use of Replacement Model to Determine the Appropriate Time to Replace a Deteriorating Industrial Equipment

Mechanically, all industrial equipments get deteriorating with time and usage and their functions decreased efficiently. In order to manage such equipments, it requires higher operating and maintenance cost, as a result of this increasing repair and maintenance cost, there is a need to replace them. However, in this paper, we attempt to determine the exact time at which the replacement of the given instrument is most economical, The data used in this paper is all about the cost of repairing 250 kva mikano generating plant which was produced by works and services department of The Polytechnic Ibadan, Adeseun Ogundoyin Campus, Eruwa. The replacement model that covers items whose maintenance cost increase with time, ignoring changes in the value of money during the years under study. The result of analysis shows that at 5 th year of using the generating plant in institution under study, the minimum average annual cost of 970,221.60 is obtained. Later, average annual cost increased to 999,726.33. This shows that ,it is economically advice able assuming the authority of The Polytechnic Ibadan has removed the generating plant installed at Eruwa Campus of the institution in the year 2008 and replace it with new one in the 2012 (that is after five years of its usage). Keywords: Scrap Value, Depreciation, Average annual cost, Procurement Cost, Replacement cost, Maintenance Cost and Replacement model.

Tackling the Downcycling Issue—A Revised Approach to Value-Corrected Substitution in Life Cycle Assessment of Aluminum (VCS 2.0)

For some metals, downcycling appears when scrap is polluted with undesirable elements or mixed with lower quality scrap grades in a way that the material displays a change in inherent properties when recycled. The article recommends the use of different scrap class prices instead of a solitary secondary alloy price to represent the level of downcycling inflicted on aluminum over a product’s life cycle. The price ratio between scrap price and primary aluminum price is shown to be stable across all available scrap classes for the years 2007–2010. While the revised approach to value-corrected substitution (VCS) puts a stronger emphasis on the creation of high-quality scrap by penalizing its pollution more than the original version, its key limitation is the correct identification of the appropriate point of substitution along the scrap value chain. If relevant sorting or pre-treatment steps are omitted, the substitution factor would be overcorrected, which is why it is crucial to establish the scrap value right before the scrap is either mixed with scraps from other product systems or right before it enters the remelting step.

Recycling steel from single‐use laryngoscope blades and Magill forceps

Shelton et al. 1 identified 41% of anaesthetic waste to be recyclable, including single-use stainless steel laryngoscope blades and intubating forceps. The legal position regarding re-use of single use items is clear 2: a single-use item is permitted for one patient during a single procedure. Reprocessing is prohibited; however, the regulations fail to provide any guidance on scrapping. Furthermore, although the 2011 regulations 3 describe the fate of waste laryngoscope blades in terms of incineration or ‘non-burn’ alternative treatment, recycling is not discussed. If steel was sterilised (to minimise the risk to handlers and processors) before scrapping, it could be recycled within the current UK regulations and generate an income of £1000 per tonne. Moreover, since it is no longer discarded into either clinical waste at a cost of £450 per tonne or sharps bins (£750 per tonne) the used metal is worth closer to £1500 per tonne. At University Hospital Southampton (UHS) we initiated a process for collecting and decontaminating anaesthetic room steel, similar to that in place for other surgical items at the end of their natural life The utility costs of washing and decontamination (Steris Cabinet Washer, Mentor, Ohio, USA) followed by sterilisation (BMM Weston P328, Faversham, Kent, UK) are shown in Table 5. The non-urgent nature of decontamination means that it can be undertaken at slack operating times without delaying the processing of urgent instruments. No additional staff need be employed to facilitate this process. The size-4 Macintosh laryngoscope blade weighs 106 g and a pair of adult Magill's intubating forceps 72 g, with scrap values of 10.6 and 7.2 pence, respectively. The maximum number of laryngoscope blades per tray is limited by space and weight to approximately 60. Both washer and steriliser cycles can process up to five fully laden trays containing 300 laryngoscope blades (31.8 kg of steel). Assuming each cycle runs to maximum efficiency, the cost is 1.34 pence per blade. Extrapolating these results to the envisaged use at UHS of 20 000 laryngoscope blades per year, the scrap value is £2120, the saving of not disposing of the waste an additional £1060, less the processing cost of £268. Our Trust stands to save £2912 per annum. Whilst Shelton et al. claim that recycling anaesthetic waste is beneficial in terms of both financial savings and reducing carbon emissions, we believe they have underestimated the environmental impact. The energy expenditure to produce 1 kg of steel from iron ore is over 10 MJ greater than when produced from recycled scrap steel (21.9 MJ vs 11.7MJ) and the carbon footprint associated with producing 1 kg of steel from iron ore is 1.97 kg vs 0.7 kg of CO2 if that steel comes from scrap 4. Almost all single-use laryngoscope blades are manufactured in Pakistan and then transported thousands of miles, to be used once only and for less than a minute. This is reflected in the carbon intensity of disposable items and is currently 600 g CO2 per £GB spent 5, or approximately 3.0 kg per laryngoscope blade. We agree with Shelton et al. and conclude that the process of recycling anaesthetic room steel reduces environmental harm and benefits hospitals economically. Furthermore, we support the authors’ call for clearer guidance on recycling anaesthetic room steel. If we cannot reduce the need for laryngoscopy and re-usable laryngoscope blades have all but been removed, then recycling the steel is perhaps the only sustainable option and steel saves both carbon and money.

Asset financing with credit risk

This paper develops a model for the unified valuation of all forms of real asset financing, such as bank loans, leases, securitization vehicles, and credit guarantees, secured by assets that generate a stochastic service flow to the operator, or a rental stream to the lessor, and depreciate over a finite economic life to their scrap value. Examples include mobile equipment, such as aircraft, railroad equipment, ships, trucks and trailers, as well as energy generation assets, heavy factory equipment and construction equipment. In the event of obligor default, after a repossession delay and incurring costs of repossession, maintenance, re-marketing and re-deployment, the lender repossesses the asset and sells it on the secondary market and is, thus, subject to the risk of decline in the market value of the asset. The model we develop in this paper treats all forms of asset financing in a unified fashion as contingent claims on the collateral asset and the credit of the borrower. As an application, we estimate the collateral asset model on historical secondary market data for aircraft values and calibrate the financing model to the Enhanced Equipment Trust Certificates (EETCs) issued in 2007 by Continental Airlines and secured by a fleet of new aircraft. We then apply the calibrated model to value private market financing, including bank loans, leases, and credit guarantees, consistently with the capital market financing, and assess the impact of repossession delays on credit spreads. This analysis leads to a policy insight suggesting that bankruptcy laws limiting asset repossession delays lead to lower costs of asset financing.

Fuzzy Approach to Replacement Problem with Value of Money Changes with Time

set has been applied in many real applications to handle uncertainty. The aim of the paper is to study the replacement problem with uncertainty. This problem involves capital cost, scrap value or salvage value, maintenance cost or operating cost, and rate of interest having an imprecise value. Here, we assume the imprecise values as positive trapezoidal fuzzy numbers. Moreover, we consider that the value of money changes with fuzzy rate of interest due to market fluctuations. To deal with this type of problem, we first find out the present worth value of money and then determine the fuzzy annualized costs. By using Yager's ranking method, comparison of fuzzy annualized costs is done to obtain an optimal replacement policy. Numerical example is provided to check the validity of the proposed method.

In this issue

PROTEOMICSVolume 11, Issue 18 In this issue In this issue First published: 06 September 2011 https://doi.org/10.1002/pmic.201190097AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Abstract Tag-along bio-markers for pancreatic problems Problems, problems, problems… Among the most difficult organ cancers to diagnose, those of the pancreas rank near the top. Pancreatic cancer is stealthy, often progressing to incurable before it is recognized. Ideally, the disease should be detected at an early stage where it can be treated appropriately and optimally. Such a tool would also contribute to development of new and effective therapies. At present, the best assay for pancreatic cancer is CA 19-9. This is not a pancreas-specific test, giving positive signals for other cancers as well, lacking both specificity and sensitivity required for a valid test. Yue et al. explored the carrier space of CA 19-9 using proteomic tools for carbohydrate carriers and found better but still insufficient correlations with state of the art MS techniques. They confirmed previously identified ApoE and ApoB, but neither with sufficient signal strength. pp. 3665–3674 Q. Wilson's disease (ATP7B): why bother with it? A. have you looked at the price of copper lately? The old British copper penny would have to be the size of a watermelon to get its scrap value above its cash value today. If you have WD, you are carrying around copper deposits in your eyes and other tissues. Therapy involves using copper-transporting chelators to remove the copper from body tissues and excrete through the kidneys – not a trivial procedure. Approximately 1 in 40 000 of world's population carries the genetic defect (ATP7B). An animal model (Long-Evans Cinnamon (LEC) rats) exhibits most of the human liver symptoms of WD. Lee et al. used standard proteomic tools: IPG first dimension and SDS-PAGE for the second. Mass spectrometry was performed on a MALDI-TOF MS after in-gel digestion. Other, previously unrecognized enzymes were also turned up. Thanks for offering, but I do not think we can harvest our friends and coworkers. pp. 3698–3705 Epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor EGFR is on the short list of anti-tumor targets for its collaboration in development of several types of solid tumors. Adding insult to injury, the tumors do not respond to EGFR inhibitors consistently and have multiple survival pathways. A new therapeutic approach uses histone deacetylase inhibitors (HDAC-Is) – they are very selective, altering transcription of 2–5% of actively expressed genes. Bianchi et al. explored the roles of two EGFR inhibitors (vorinostat and gefitinib), and their quantitative synergies by 2-D DIGE MALDI-TOF-MS and ESI-Ion trap MS. Selected interaction networks were validated by western blots. pp. 3725–3742 Volume11, Issue18No. 18 September 2011 RelatedInformation

Scrap Value Functions in Dynamic Decision Problems

We introduce an accurate, easily implementable, and fast algorithm to compute optimal decisions in discrete-time long-horizon welfaremaximizing problems. The algorithm is useful when interest is only in the decisions up to period T, where T is small. It relies on a flexible parametrization of the relationship between state variables and optimal total time-discounted welfare through scrap value functions. We demonstrate that this relationship depends on the boundedness, half-boundedness, or unboundedness of the utility function, and on whether a state variable increases or decreases welfare. We propose functional forms for this relationship for large classes of utility functions and explain how to identify the parameters.

Circuits of scrap: closed loop industrial ecosystems and the geography of US international recyclable material flows 1995–2005

The recycling of scrap material has been identified as an important strategy in the larger theory of industrial ecology. Industrial ecology argues that the traditional model of industrial activity needs to be transformed into a ‘closed loop’ industrial ecosystem where used materials (scrap) and by‐products would substitute for virgin materials during production processes. The recycling of scrap material forms part of this larger effort to reduce the overall environmental impact of production and consumption. A key, but as yet, unresolved question in this process is the geographic scale (local, regional, national, global) at which loop closing should take place. This preliminary empirical research examines the export and import geography of the seven largest (by weight) US scrap commodities (iron and steel, paper, plastics, aluminium, copper, nickel and zinc) between 1995 and 2005 to ascertain the extent to which US scrap flows overseas and how that might affect our understanding of how material loops can close. Other than an integrated export and import relationship with Canada, the results suggest that there are two distinct circuits of scrap flows in the USA. The USA exports a substantial portion of the recyclable scrap generated each year to rapidly developing countries, while importing smaller quantities of scrap from the EU. With the major exception of exporting higher value iron and steel scrap to China, the US tends to export lower value scrap and import higher value scrap. In part this reflects imbalances in the supply and demand for scrap between the USA and the developing world, the lack of potentially available scrap and the absence of a robust recycling infrastructure in the developing world. Although such scrap circuits are probably not ideal, the use of US scrap in the developing world is both a realistic and preferable alternative in the short to medium term than virgin production.

Regulation in the automobile industry

We describe a model for car ownership and replacement, and use it to assess the impacts of two policies that have been widely used to regulate the automobile industry: scrap value for old cars and taxes on gasoline. These two policies have been used either to stimulate sales of new cars and/or to reduce emissions. In this model both policies hardly achieve these objectives because they have tendency to delay replacement time of old cars.

The Prudence Principle – The Basis For Reasoning Of The Professional Accountant

In order to em phasize the basic role of the prudence principle in the reasoning of the professional accountant, the paper searches and provides arguments trying to respond at the fallowing questions: can the prudence principle be used in: choosing the FIFO method; using the depreciation - straight - line method with scrap value; cost capitalization; recognizing the profit in the revenue account. Even though the prudence principal requires that the evaluation must avoid the super evaluation of the assets and the under evaluation of the debts, which can be very easily accomplished in theory, the application of this particular rule in uncertain conditions implicates that the professional accountant must use its reasoning at maximum. The answers provided at the questions abov e, encountered at the most recent exam that allows individuals to become auditors, were extremely interesting, being able to stress a significant number of controversies, finally leading to total denial and even, in some cases, to arguments without any proof.

Resolution Strategies for Maximising Value of Non-Performing Assets (NPAs)

Presence of NPAs indicates asset quality of the balance sheet of a bank/institution and hence future income generating prospects. This also requires provisioning which has implications with respect to capital adequacy. Declining capital adequacy adversely affects shareholder value and restricts the ability of the bank/institution to access the capital market for additional equity to enhance capital adequacy. Thus, if a resolution strategy for recovery of dues from NPAs is not put in place quickly and efficiently, these assets would deteriorate in value over time and little value would be realized at the end, except may be its scrap value. The literature, however, has not specifically discussed about the various resolution strategies that could be put in place for recovery from NPAs, and in particular, in which situation which strategy should be adopted. The purpose of this paper is to indicate the various considerations that one has to bear in mind before zeroing on a resolution strategy and provides a State - Resolution - Mapping (SRM) framework.

Wind characteristics and energy potentialities of some selected sites in northern Cameroon

The wind regime as observed in three meteorological stations in the north Cameroon are presented in form of velocity duration curves as well as in form of velocity frequency curves. Monthly average wind speed distributions were determined for each station. Based on the analysed data, the utilisation of wind for power production purpose is promising in Maroua Salack and in Garoua. The cost analysis takes into consideration the investment per kW installed power, the specific energy output per kW installed power, the investment recovery factor, the life time of the wind energy conversion system (WECS), the ratios of the \'operation and maintenance\' cost and of the scrap value of the scheme. These factors are used in evaluating the present value of the unit energy cost (PVUC) for a single WECS of 22 kW rated power. Results show that these WECS provide xpensive electricity. Key Words: Wind speed, wind energy, WECS, Present value of unit energy cost, specific energy output, power. Botswana Journal of Technology Vol.13(2) 2004: 55-63

Sustainability of Aluminium in Buildings

Increasing demand for adequate and sustainable performance with high-quality materials in public structures offers an opportunity for aluminium, possessing properties such as formability, functionality, flexibility, light weight, excellent recyclability and corrosion resistance, for innovative and impressive architectural solutions. Planners and authorities often hesitate to readily accept aluminium as a building material, mainly because of its high energy consumption during production and resulting higher initial cost. Higher initial purchasing material cost is per weight, and with good design a considerable weight reduction will be achieved. Further compensation is obtained by consideration of the total life cycle. Here, excellent durability, low if any maintenance cost, high scrap value and recycling with minimum energy input result in significant cost and energy savings. To demonstrate and realize the sustainable character of aluminium structures Life Cycle Cost Analysis (LCCA) and Life Cycle Assessment (LCA) procedures as well as appropriate design methods and tools have to be applied. Design plays a decisive role, as it requires a certain level of experience and knowledge about material behaviour and design standards. The objective is to combine LCCA, LCA and design by means of software tools, make these available to the engineering community and thus facilitate optimal structures early in the planning phase. A new research project is being carried out by the authors at the Section for Light Metal Structures and Fatigue of their University.