• Sonuç bulunamadı

Reduction of energy costs and traffic flow rate in urban logistics process

N/A
N/A
Protected

Academic year: 2021

Share "Reduction of energy costs and traffic flow rate in urban logistics process"

Copied!
8
0
0

Yükleniyor.... (view fulltext now)

Tam metin

(1)

1876-6102 © 2017 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

Peer-review under responsibility of the scientific committee of the International Scientific Conference “Environmental and Climate Technologies”. doi: 10.1016/j.egypro.2017.04.023 Energy Procedia 113 ( 2017 ) 82 – 89

ScienceDirect

,QWHUQDWLRQDO6FLHQWLILF&RQIHUHQFH³(QYLURQPHQWDODQG&OLPDWH7HFKQRORJLHV´&21(&7

±2FWREHU5LJD/DWYLD

5HGXFWLRQRIHQHUJ\FRVWVDQGWUDIILFIORZUDWHLQXUEDQORJLVWLFVSURFHVV

2PHU)DUXN*RUFXQ 

Kadir Has University, Kadir Has University Campus, Selimpasa – Silivri, Istanbul, 34590, Turkey

$EVWUDFW

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‹7KH$XWKRUV3XEOLVKHGE\(OVHYLHU/WG 3HHUUHYLHZXQGHUUHVSRQVLELOLW\RIWKHVFLHQWLILFFRPPLWWHHRIWKH,QWHUQDWLRQDO6FLHQWLILF&RQIHUHQFH³(QYLURQPHQWDODQG &OLPDWH7HFKQRORJLHV Keywords:HQHUJ\FRVWVWUDIILFIORZUDWHFRQJHVWLRQPDUJLQDOFRVWV ,QWURGXFWLRQ 7KHWUDIILFIORZUDWHLVRQHRIWKHIDFWRUVDIIHFWLQJWKHHQHUJ\FRVWVRIWUDQVSRUWDWLRQDFWLYLWLHV7KHUHLVDVLJQLILFDQW FRUUHODWLRQEHWZHHQWKHWUDIILFIORZUDWHDQGHQHUJ\FRVWVRIWUDQVSRUWDWLRQWUDIILFYROXPHVLQXUEDQDUHDVFDQLQIOXHQFH   &RUUHVSRQGLQJDXWKRU7HOID[

E-mail address:RPHUJRUFXQ#NKDVHGXWU

© 2017 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

Peer-review under responsibility of the scientific committee of the International Scientific Conference “Environmental and Climate Technologies”.

(2)

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|Uo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

(3)

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n t ec sp d uc v a u t v r e ¸¸ ¹ · ¨¨ © § » » ¼ º « « ¬ ª ¸ ¸ ¹ · ¨ ¨ © §      

:KLOHHXFUHSUHVHQWVPDUJLQDOHQHUJ\FRVWSHUYHKLFOHIRUHDFKWUDIILFIORZUDWHOHYHOUGLVWKHGLVWDQFHRIWKHVHOHFWHG URDGVHFWLRQYVSLVWKHJUDGXDOWUDIILFIORZUDWHWLVWKHXVLQJWLPHRIURXWHLQPLQXWHXHFLVWKHWRWDOHQHUJ\FRVWLQWKH VHOHFWHGURXWHDWLVWKHDQQXDOURXWHXVLQJWLPHLQDPLQXWHYQLVWKHQXPEHURIDFHUWDLQW\SHRIYHKLFOHPRYLQJLQWKH VHOHFWHGURXWH6HFRQGO\7KHYDOXHRIXQLWHQHUJ\FRVWSHUPLQXWHFDQEHFDOFXODWHGDVEHORZ t ec pm a u e   

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

(4)

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±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

(5)

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ÕN       .DYDFLN6LOH7XUQRII       6LOH7XURII&DPOLFD     '        $ 6LOLYUL6HOLPSDúD      % 6HOLPSDúD.XPEXUJD]      & .XPEXUJD]7HSHVW      ' 7HSHVW%dHNPHFH      ( %dHNPHFHdDWDOFD7XUQRII     

(6)



)LJ5RDGVHFWLRQVLQ,VWDQEXO&LW\

$FFRUGLQJ WR WKH RIILFLDO VWDWLVWLFV WKH PRQHWDU\ YDOXH RI WKH IXHO FRQVXPSWLRQ LV FDOFXODWHG DV ¼  DQQXDOO\2QO\KHDY\IUHLJKWYHKLFOHVDUHWDNHQLQWRFRQVLGHUDWLRQLQWKLVHYDOXDWLRQ:KHQWKLVYDOXHLVFRQYHUWHGWR WKHXQLWFRVWRIHQHUJ\SHUPLQXWHVXQLWHQHUJ\FRVWFDQEHFDOFXODWHGDVDSSUR[LPDWHO\¼ (T    )LJ0DUJLQDO(QHUJ\&RVW&XUYHLQ6HFWLRQ$ :KHQ(TLVDSSOLHGWRUHDFKWKHXQLWFRVWSHUYHKLFOHDQ\VHFWLRQRIWKHURDGPD\EHVHOHFWHGIRUDQDO\VLVDVDQ H[DPSOH7KHURDGVHFWLRQEHWZHHQ6LOLYULDQG6HOLPSDúDGHILQHGDVVHFWLRQ$LVVHOHFWHGIRUWKLVDQDO\VLV$FFRUGLQJ WRWKHRIILFLDOVWDWLVWLFVGDLO\KHDY\IUHLJKWYHKLFOHVSDVVWKURXJKWKLVVHFWLRQ7KHGLVWDQFHRIWKLVURDGLV NLORPHWHUV ,Q 7XUNH\ KLJK VSHHGV IRU KHDY\ IUHLJKW YHKLFOHV LV EDQQHG E\ WUDIILF UHJXODWLRQV 7KH OHJDO VSHHG OLPLWDWLRQLVNLORPHWHUVSHUKRXUIRUKHDY\IUHLJKWYHKLFOHV$FFRUGLQJWR(T  WKHXQLWHQHUJ\FRVWSHUYHKLFOH RQWKLVURDGVHFWLRQDQGDWPD[LPXPVSHHGFDQEHFDOFXODWHGDV¼SHUYHKLFOH:KHQWKHWUDIILFIORZLVUHGXFHG WHQNLORPHWHUVIRUHDFKFDOFXODWLRQWKHPDUJLQDOHQHUJ\FRVWFKDUWLVFRPSRVHGDVIROORZV:KLOHRWKHUSDUDPHWHUV DUHIL[HGLWFDQEHGHILQHGDVDYDULDEOH:KHQWKHWUDIILFIORZUDWHLVUHGXFHGWKHPDUJLQDOHQHUJ\FRVWFXUYHKDVDQ XSZDUGWUHQG:KHQWUDIILFIORZLVUHGXFHGWRDFHUWDLQSRLQWWKHPDUJLQDOHQHUJ\FRVWFXUYHVKRZVDPRUHUDSLG XSZDUGWUHQG:KHQWKHWUDIILFIORZLVUHGXFHGWRNPKPDUJLQDOHQHUJ\FRVWFDQVKRZDPRUHUDSLGXSZDUGWUHQG DFFRUGLQJWRWKHFKDUWDERYH)LJ  Ϭ͕ϬϬϬϬ Ϭ͕ϮϬϬϬ Ϭ͕ϰϬϬϬ Ϭ͕ϲϬϬϬ Ϭ͕ϴϬϬϬ ϭ͕ϬϬϬϬ ϭ͕ϮϬϬϬ ϭ͕ϰϬϬϬ ϭ͕ϲϬϬϬ ϭ͕ϴϬϬϬ Ϯ͕ϬϬϬϬ Ϭ ϮϬ ϰϬ ϲϬ ϴϬ ϭϬϬ hŶŝƚŵĂƌŐŝŶĂůĞŶĞƌŐLJ ĐŽƐƚ dƌĂĨĨŝĐĨůŽǁƌĂƚĞ

(7)

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Ϭ͕ϬϬϬϬ Ϭ͕ϱϬϬϬ ϭ͕ϬϬϬϬ ϭ͕ϱϬϬϬ Ϯ͕ϬϬϬϬ Ϭ ϮϬ ϰϬ ϲϬ ϴϬ ϭϬϬ hŶŝƚDĂƌŐŝŶĂůŶĞƌŐLJ ŽƐƚ dƌĂĨĨŝĐ&ůŽǁZĂƚĞ      Ϭ͕ϬϬϬϬ Ϭ͕ϬϱϬϬ Ϭ͕ϭϬϬϬ Ϭ͕ϭϱϬϬ Ϭ ϮϬ ϰϬ ϲϬ ϴϬ ϭϬϬ hŶŝƚDĂƌŐŝŶĂůŶĞƌŐLJ ŽƐƚ dƌĂĨĨŝĐ&ůŽǁZĂƚĞ ϭ Ϯ ϯ ϰ ϱ ϲ ϳ ϴ

(8)

5HIHUHQFHV

>@ 0UDLKL 5 $EGDOODK . $ELG 0 5RDG 7UDQVSRUW5HODWHG (QHUJ\ &RQVXPSWLRQ $QDO\VLV RI 'ULYLQJ )DFWRUV LQ 7XQLVLD (QHUJ\ 3ROLF\ ±

>@ :DQJ<)/L.3;X;0=KDQJ<57UDQVSRUW(QHUJ\&RQVXPSWLRQDQG6DYLQJLQ&KLQD5HQHZDEOHDQG6XVWDLQDEOH(QHUJ\5HYLHZV ±

>@ 0DQ]RQH 0 %DOVDUL 3 7KH (QHUJ\ &RQVXPSWLRQ DQG (FRQRPLF &RVWV RI 'LIIHUHQW 9HKLFOHV 8VHG LQ 7UDQVSRUWLQJ :RRGFKLSV )XHO ±

>@ +DR+*HQJ</L:*XR%(QHUJ\&RQVXPSWLRQ$QG*+*(PLVVLRQVIURP&KLQDV)UHLJKW7UDQVSRUW6HFWRU6FHQDULRV7KURXJK (QHUJ\3ROLF\±

>@ +X]D\\LQ $6 6DOHP + $QDO\VLV RI 7KLUW\ <HDUV (YROXWLRQ RI 8UEDQ *URZWK 7UDQVSRUW 'HPDQG DQG 6XSSO\ (QHUJ\ &RQVXPSWLRQ *UHHQKRXVHDQG3ROOXWDQWV(PLVVLRQVLQ*UHDWHU&DLUR5HVHDUFKLQ7UDQVSRUWDWLRQ(FRQRPLFV±

>@ 0DULTXH $) 5HLWHU 6 $ 0HWKRG IRU (YDOXDWLQJ 7UDQVSRUW (QHUJ\ &RQVXPSWLRQ LQ 6XEXUEDQ $UHDV (QYLURQPHQWDO ,PSDFW $VVHVVPHQW 5HYLHZ± >@ *RUFXQ2)(IILFLHQF\$QDO\VLVRI&DUJR7UDPIRU&LW\/RJLVWLFV&RPSDUHGWR5RDG)UHLJKW7UDQVSRUWDWLRQ$&DVH6WXG\RI,VWDQEXO&LW\ %XVLQHVV/RJLVWLFVLQ0RGHUQ0DQDJHPHQWWK,QWHUQDWLRQDO6FLHQWLILF&RQIHUHQFH&URDWLD2VLMHN >@ +RVVHLQORX0+.KH\UDEDGL6$=ROIDJKDUL$'HWHUPLQLQJ2SWLPDO6SHHG/LPLWVLQ7UDIILF1HWZRUNV,QWHUQDWLRQDO$VVRFLDWLRQRI7UDIILF DQG6DIHW\6FLHQFHV,$7665HVHDUFK± >@ <DQOL0<DQMLDQJ/<XHH*)RUHFDVWRQ(QHUJ\'HPDQGRI5RDG7UDQVSRUWDWLRQLQ&KLQD,QWHUQDWLRQDO&RQIHUHQFHRQ)XWXUH(QHUJ\ (QYLURQPHQWDQG0DWHULDOV(QHUJ\3URFHGLD $  >@ 0DOORQ:%XLW/:LQJHUGHQ-9/HPPHQV+(OGUXS1+&RVWVRI&27UDQVSRUWDWLRQ,QIUDVWUXFWXUHV(QHUJ\3URFHGLD± >@ %DULVD$']HQH,5RVD0'REUDMD.:DVWHWRELRPHWKDQH&RQFHSW$SSOLFDWLRQ$&DVH6WXG\RI9DOPLHUD&LW\LQ/DWYLD(QYLURQPHQWDO DQG&OLPDWH7HFKQRORJLHV  ± >@ *RUFXQ2)$QDO\VLVRIWKH(IIHFWVRI,QWHUPRGDO7HUPLQDOVIRUWKH6ROXWLRQVRI8UEDQ/RJLVWLFV3UREOHPVLQ,VWDQEXO&LW\'\QDPLFVLQ /RJLVWLFV6SULQJHU,QWHUQDWLRQDO3XEOLVKLQJ6ZLW]HUODQG

Referanslar

Benzer Belgeler

Three seminal pieces of EU legislation from the fields of energy and environmental policy are thereby selected as study cases: renewable energy (Directive 2009/28/EC), coal

Dergilerin saygınlığını artıran etmenler arasında şu değişkenler bulunmaktadır; yayınevi, derginin yaşı, editör, yayın kurulu, hakemli olması, yayın

Dergimize son 2 yılda başvuran ma- kalelerin bilimsel değerlendirilmesi için çift ineelemed (hakem) uygulamasına ait sonuç- lan geriye yönelik değerlendirmek istedik

lanmızın kontolünden geçmekte ve son ha- lini almaktadır. Araştırmamızm bu ilk bölümünde in- celeme sürecinin zaman ve sonuç ilişkisi in- celenecektir. Bu süre

Daha önce de belirtildiği gibi pazarlama iletişimi araçları olarak kullanılan kategoriler reklam, halkla ilişkiler, doğrudan pazarlama ve satış geliştirme

Gerçekleştirilen dijital halkla ilişkiler faaliyetleri kimi zaman kulüplerin spor müsabakaları ile ilgili olabildiği gibi kimi zamanda kulübün sponsor markaları

Ebâ Eyyûb el-Ensârî'nin makamı belli olunca Fâtih Sultan Mehmed üzerine bir türbe ve onun kıble yönüne de bir cami yapılmasını emretmiştir. Sekizgen bir

Buna göre, erkeklerin kadınlara göre daha yüksek pozis- yonlarda yer alması çalışanların algısına da yansıdığından, kadın liderlerin liderlik ve güçlendirme