Supplier Segmentation for Nordic Petrochemical Industry

Objective of this thesis was to map possibilities for systematic supplier management in field of chemical process industry. Through this study it was aimed to develop a tool for supplier management that could be integrated with operations in business unit. With developed tool suppliers should be able to be segmented based on their willingness and capability, and segmentation could be applied in purchasing decisions. In this thesis there was made a survey of methods that are recognized in literature to manage and allocate suppliers. This thesis recognizes segmentation as a method to group and select suppliers in procurement. Based on literature, a proposal for segmentation framework and evaluation criteria factors will be constituted. Based on theoretical proposal, in an expertise workshop a final segmentation framework was constituted, which covers segments with descriptions and evaluation part. Evaluation part includes an evaluation framework which helps to score suppliers with selected factors and leads to total grades in willingness and capability. These total grades will be the coordinates and they determine the segment where the supplier under evaluation belongs. In this thesis segments definitions, objectives, and road maps will be described.

Prediction of market switching and delisting events from OMX First North Nordic multilateral stock exchange

This thesis studies the predictability of market switching and delisting events from OMX First North Nordic multilateral stock exchange by using financial statement information and market information from 2007 to 2012. This study was conducted by using a three stage process. In first stage relevant theoretical framework and initial variable pool were constructed. Then, explanatory analysis of the initial variable pool was done in order to further limit and identify relevant variables. The explanatory analysis was conducted by using self-organizing map methodology. In the third stage, the predictive modeling was carried out with random forests and support vector machine methodologies. It was found that the explanatory analysis was able to identify relevant variables. The results indicate that the market switching and delisting events can be predicted in some extent. The empirical results also support the usability of financial statement and market information in the prediction of market switching and delisting events.

Bridging the digital divide in developing countries: The role of mobile technology in bridging the digital divide

This thesis investigates how mobile technology usage could help to bring Information and communication technologies (ICT) to the people in developing countries. Some people in developing countries have access to use ICT while other people do not have such opportunity. This digital divide among people is present in many developing countries where computers and the Internet are difficult to access. The Internet provides information that can increase productivity and enable markets to function more efficiently. The Internet reduces information travel time and provides more efficient ways for firms and workers to operate. ICT and the Internet can provide opportunities for economic growth and productivity in developing countries. This indicates that it is very important to bridge the digital divide and increase Internet connections in developing countries. The purpose of this thesis is to investigate how can mobile technology and mobile services help to bridge the digital divide in developing countries. Theoretical background of this thesis consists of a collection of articles and reports. Theoretical material was gathered by going through literature on the digital divide, mobile technology and mobile application development. The empirical research was conducted by sending a questionnaire by email to a selection of application developers located in developing countries. The questionnaire’s purpose was to gather qualitative information concerning mobile application development in developing countries. This thesis main result suggests that mobile phones and mobile technology usage can help to bridge the digital divide in developing countries. This study finds that mobile technology provides one of the best tools that can help to bridge the digital divide in developing countries. Mobile technology can bring affordable ICT to people who do not have access to use computers. Smartphones can provide Internet connection, mobile services and mobile applications to a rapidly growing number of mobile phone users in developing countries. New low-cost smartphones empower people in developing countries to have access to information through the Internet. Mobile technology has the potential to help to bridge the digital divide in developing countries where a vast amount of people own mobile phones.

The obstacles for cross-border transmission network investments in the Nordic electricity market: Case South-West link

The Nordic electricity market is often seen as an example of how to create a working, developed and integrated electricity market. Nevertheless, this thesis studies the obstacles of transmission network investments and the market integration challenges in the Nordic electricity market. The main focus is in the Nordic Transmission system operators (TSOs), which have a key role in grid development. This study introduces a case study of cancellation of South-West link, Western part, which was seen as essential grid investment in order to improve the Nordic electricity market functioning but ended up with cancellation in 2013. This study includes semi-structured theme interviews of the experts among Nordic electricity industry stakeholders. Despite the political will to create more equal prices for electricity in the Nordic market, the differing national regulation, mixed incentives created by bottleneck income and the focus moving from Nordic integration to European integration may create challenges to the Nordic electricity market integration in the future.

Susteinable steelmaking by process integration

Environmental issues, including global warming, have been serious challenges realized worldwide, and they have become particularly important for the iron and steel manufacturers during the last decades. Many sites has been shut down in developed countries due to environmental regulation and pollution prevention while a large number of production plants have been established in developing countries which has changed the economy of this business. Sustainable development is a concept, which today affects economic growth, environmental protection, and social progress in setting up the basis for future ecosystem. A sustainable headway may attempt to preserve natural resources, recycle and reuse materials, prevent pollution, enhance yield and increase profitability. To achieve these objectives numerous alternatives should be examined in the sustainable process design. Conventional engineering work cannot address all of these substitutes effectively and efficiently to find an optimal route of processing. A systematic framework is needed as a tool to guide designers to make decisions based on overall concepts of the system, identifying the key bottlenecks and opportunities, which lead to an optimal design and operation of the systems. Since the 1980s, researchers have made big efforts to develop tools for what today is referred to as Process Integration. Advanced mathematics has been used in simulation models to evaluate various available alternatives considering physical, economic and environmental constraints. Improvements on feed material and operation, competitive energy market, environmental restrictions and the role of Nordic steelworks as energy supplier (electricity and district heat) make a great motivation behind integration among industries toward more sustainable operation, which could increase the overall energy efficiency and decrease environmental impacts. In this study, through different steps a model is developed for primary steelmaking, with the Finnish steel sector as a reference, to evaluate future operation concepts of a steelmaking site regarding sustainability. The research started by potential study on increasing energy efficiency and carbon dioxide reduction due to integration of steelworks with chemical plants for possible utilization of available off-gases in the system as chemical products. These off-gases from blast furnace, basic oxygen furnace and coke oven furnace are mainly contained of carbon monoxide, carbon dioxide, hydrogen, nitrogen and partially methane (in coke oven gas) and have proportionally low heating value but are currently used as fuel within these industries. Nonlinear optimization technique is used to assess integration with methanol plant under novel blast furnace technologies and (partially) substitution of coal with other reducing agents and fuels such as heavy oil, natural gas and biomass in the system. Technical aspect of integration and its effect on blast furnace operation regardless of capital expenditure of new operational units are studied to evaluate feasibility of the idea behind the research. Later on the concept of polygeneration system added and a superstructure generated with alternative routes for off-gases pretreatment and further utilization on a polygeneration system producing electricity, district heat and methanol. (Vacuum) pressure swing adsorption, membrane technology and chemical absorption for gas separation; partial oxidation, carbon dioxide and steam methane reforming for methane gasification; gas and liquid phase methanol synthesis are the main alternative process units considered in the superstructure. Due to high degree of integration in process synthesis, and optimization techniques, equation oriented modeling is chosen as an alternative and effective strategy to previous sequential modelling for process analysis to investigate suggested superstructure. A mixed integer nonlinear programming is developed to study behavior of the integrated system under different economic and environmental scenarios. Net present value and specific carbon dioxide emission is taken to compare economic and environmental aspects of integrated system respectively for different fuel systems, alternative blast furnace reductants, implementation of new blast furnace technologies, and carbon dioxide emission penalties. Sensitivity analysis, carbon distribution and the effect of external seasonal energy demand is investigated with different optimization techniques. This tool can provide useful information concerning techno-environmental and economic aspects for decision-making and estimate optimal operational condition of current and future primary steelmaking under alternative scenarios. The results of the work have demonstrated that it is possible in the future to develop steelmaking towards more sustainable operation.

Regime-Switching in the Impact of Oil Price Shocks on Stock Market Volatility: Evidence from Oil-Importing and Oil-Exporting Countries

Research has highlighted the adequacy of Markov regime-switching model to address dynamic behavior in long term stock market movements. Employing a purposed Extended regime-switching GARCH(1,1) model, this thesis further investigates the regime dependent nonlinear relationship between changes in oil price and stock market volatility in Saudi Arabia, Norway and Singapore for the period of 2001-2014. Market selection is prioritized to national dependency on oil export or import, which also rationalizes the fitness of implied bivariate volatility model. Among two regimes identified by the mean model, high stock market return-low volatility regime reflects the stable economic growth periods. The other regime characterized by low stock market return-high volatility coincides with episodes of recession and downturn. Moreover, results of volatility model provide the evidence that shocks in stock markets are less persistent during the high volatility regime. While accelerated oil price rises the stock market volatility during recessions, it reduces the stock market risk during normal growth periods in Singapore. In contrast, oil price showed no significant notable impact on stock market volatility of target oil-exporting countries in either of the volatility regime. In light to these results, international investors and policy makers could benefit the risk management in relation to oil price fluctuation.

Chart of the Nordic and Baltic Seas &c.

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Chart of the Nordic and Baltic Seas &c.

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A new & accurate map of the North Pole with all the countries hitherto discovered situated near or adjacent to it as well as some others more remote. Drawn from the latest and best authorities and regulated by astronom.l observat.ns by Eman. Bowen.

0-meridiaani: Lontoo. - Koordinaattiasteikko: N90°-55°[50°].

Cross-border transmission capacity development – Experiences from the Nordic electricity markets

The liberalisation of the wholesale electricity markets has been considered an efficient way to organise the markets. In Europe, the target is to liberalise and integrate the common European electricity markets. However, insufficient transmission capacity between the market areas hampers the integration, and therefore, new investments are required. Again, massive transmission capacity investments are not usually easy to carry through. This doctoral dissertation aims at elaborating on critical determinants required to deliver the necessary transmission capacity investments. The Nordic electricity market is used as an illustrative example. This study suggests that changes in the governance structure have affected the delivery of Nordic cross-border investments. In addition, the impacts of not fully delivered investments are studied in this doctoral dissertation. An insufficient transmission network can degrade the market uniformity and may also cause a need to split the market into smaller submarkets. This may have financial impacts on market actors when the targeted efficient sharing of resources is not met and even encourage gaming. The research methods applied in this doctoral dissertation are mainly empirical ranging from a Delphi study to case studies and numerical calculations.