Lander Galdos1,a, Unai Ulibarri1,b, Imanol Gil1,c, Rafael Ortubay1,d and Eneko Sáenz de $rgandoña1,e*. 1 Mondragon University, Loramendi 4, Mondragon, ...
.H\(QJLQHHULQJ0DWHULDOV9ROV SS 7UDQV7HFK3XEOLFDWLRQV6ZLW]HUODQG GRL ZZZVFLHQWLILFQHW.(0
)ULFWLRQFRHIILFLHQWLGHQWLILFDWLRQLQUROOIRUPLQJSURFHVVHV /DQGHU*DOGRVD8QDL8OLEDUULE,PDQRO*LOF5DIDHO2UWXED\G DQG(QHNR6iHQ]GH$UJDQGRxDH
0RQGUDJRQ8QLYHUVLW\/RUDPHQGL0RQGUDJRQ6SDLQ
D
OJDOGRV#PRQGUDJRQHGXEXQDLXOLEDUUL#DOXPQLPRQGUDJRQHGX
F
LPDQROJLO#DOXPQLPRQGUDJRQHGXGURUWXED\#PRQGUDJRQHGX H
HVDHQ]GHDUJDQ#PRQGUDJRQHGX .H\ZRUGV $++6UROOIRUPLQJFRHIILFLHQWRIIULFWLRQWRUTXHPHDVXUHPHQWSRZHU
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
0DWHULDO)RUPLQJ(6$)250
)LJ 5ROOIRUPLQJSURFHVVVHTXHQFHVFKHPD>@
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xDJDHWDO >@ H[SHULPHQWDOO\ PHDVXUHG UROO IRUPLQJ IRUFHV DQG WRUTXHV ZLWK GLIIHUHQW PDWHULDOV LQ RUGHU WR YDOLGDWH D UROO IRUPLQJ ILQLWH HOHPHQW PRGHO $QG PRUH UHFHQWO\ 6DHQ] GH $UJDQGRxD HW DO DQDO\VHG WKH HIIHFW RI WKH UROO IRUPLQJ JDS LQ WKH ILQDO TXDOLW\ RI WKH SURILOH DQG LQ WKH IRUPLQJ
.H\(QJLQHHULQJ0DWHULDOV9ROV
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
)LJ 6FKHPDWLFLOOXVWUDWLRQRIVLPXODWLYHWHVWVIRUVKHHWPHWDOIRUPLQJ>@
0DWHULDO)RUPLQJ(6$)250
+DYLQJDORRNWRUROOIRUPLQJSURFHVVHVDQH[DPSOHLVVKRZQLQ)LJWKHFRQWDFWEHWZHHQWKH UROOV DQG WKH VKHHW WDNHV SODFH LQ D WKLFN OLQH )XUWKHUPRUH WKH JHRPHWU\ RI WKH VKHHW FDQ EH XQGHUVWRRGDVDVHPLIODWVXUIDFHPHDQZKLOHUROOVDUHF\OLQGULFDO$QGILQDOO\WKHFRQWDFWEHWZHHQ WKHUROOVDQGWKHVKHHWWDNHVSODFHWDQJHQWLDOO\WRWKHUROOV7KHUHIRUHWKHVLPXODWLYHIULFWLRQWHVWIRU UROOIRUPLQJSURFHVVHVVKRXOGFUHDWHDOLQHDUFRQWDFWEHWZHHQDF\OLQGULFDOVXUIDFHDQGDVHPLIODW VXUIDFHEHLQJWKHVHPLIODWVXUIDFHWDQJHQWLDOWRWKHF\OLQGULFDOVXUIDFH
)LJ &RQWDFWFRQGLWLRQVLQUROOIRUPLQJSURFHVVHV
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
)LJ 5LJKW %LD[LDOWHVWLQJPDFKLQHDW0RQGUDJRQ8QLYHUVLW\/HIW 7RROLQJGHVLJQHGE\ 0RQGUDJRQ8QLYHUVLW\ 5ROOIRUPLQJUROO XSWR.1 &ODPSV XSWR.1 6KHHWFODPSHGDQGSUHVWUHWFKHG )LJ JLYHV D GHWDLOHG YLHZ RI WKH IULFWLRQ WRRO 7KH WRROLQJ HVVHQWLDOO\ FRQVLVWV RI DQ HOHFWULF VHUYRPRWRUDUHGXFHUDWRUTXHVHQVRUDQGDUROO7KHUROOLVPRXQWHGRQWZREHDULQJVZKLFKKDYHD IL[HGIUHHDUUDQJHPHQW7KHWRROLVGHVLJQHGWRXVHUROOVZLWKGLDPHWHUVYDU\LQJIURPPLOOLPHWUHV WRPLOOLPHWUHV
.H\(QJLQHHULQJ0DWHULDOV9ROV
)LJ 7RROLQJIRUWKHPHDVXUHPHQWRIWKHIULFWLRQFRHIILFLHQW
7KHFKDUDFWHULVWLFVRIWKHWRROLQJGHVLJQHGE\0RQGUDJRQ8QLYHUVLW\IRUWKHPHDVXUHPHQWRIWKH VWDWLFDQGG\QDPLFIULFWLRQFRHIILFLHQWDUHWKHIROORZLQJRQHV VHH7DEOH 7DEOH &KDUDFWHULVWLFVRIWKHWRROLQJ 1RPLQDOWRUTXHRIWKHVHUYRPRWRU 0D[LPXPURWDWLRQVSHHGRIWKHVHUYRPRWRU 5HGXFWLRQUDWLR 7RUTXHVHQVRUPHDVXUHPHQWUDQJH 5ROOGLDPHWHUUDQJH 0D[LPXPSUHVWUHWFKLQJIRUFH 0D[LPXPSHUSHQGLFXODUIRUFH
1P USP 1P1P PP .1 .1
([SHULPHQWDOSURFHGXUH 7KH WHVWV KDYH EHHQ FDUULHG RXW ZLWK D '3 VWHHO ZKLFK LV EHLQJ LQFUHDVLQJO\ XVHG LQ WKH DXWRPRWLYH VHFWRU DQG ZKLFK LV YHU\ VXLWDEOH IRU UROO IRUPLQJ SURFHVVHV GXH WR LWV KLJK \LHOG VWUHQJWK7KHPHFKDQLFDOSURSHUWLHVRIWKHPDWHULDODUHVKRZQLQ7DEOH 7DEOH '3PHFKDQLFDOSURSHUWLHVDWUROOLQJGLUHFWLRQ ( *3D
@ >@ >@ >@ >@
>@ >@ >@ > @ >@
>@
*7+DOPRV5ROO)RUPLQJ+DQGERRN&5&SS .6ZHHQH\8*UXQHZDOG7KHDSSOLFDWLRQRIUROOIRUPLQJIRUDXWRPRWLYHVWUXFWXUDOSDUWV -RXUQDORI0DWHULDOV3URFHVVLQJ7HFKQRORJ\ SS +DOPRV*7 7UHQGVLQUROOIRUPLQJSURFHVVHV6KHHW0HWDO,QGXVWULHV SS (6DHQ]GH$UJDQGRxD$$]WLULD&*DUFLD1$UDQD3)LOODWUHDX77HU]\N)RUPLQJ SURFHVVHV FRQWURO E\ PHDQV RI DUWLILFLDO LQWHOOLJHQFH WHFKQLTXHV 5RERWLFV DQG &RPSXWHU ,QWHJUDWHG0DQXIDFWXULQJYRO SS 3 )LOODWUHDX ( 6DHQ] GH $UJDQGRxD $ $]WLULD & *DUFLD 1 $UDQD ) %HUQDUG 7 7HU]\N 6KHHW PHWDO IRUPLQJ JOREDO FRQWURO V\VWHP EDVHG RQ DUWLILFLDO YLVLRQ V\VWHP DQG IRUFHDFRXVWLF VHQVRUV 5RERWLFV DQG &RPSXWHU,QWHJUDWHG 0DQXIDFWXULQJ YRO SS '%KDWWDUFKDU\\D36PLWK67KDGDNDPDOOD,&ROOLQV7KHSUHGLFWLRQRIUROOORDGLQFROG UROOIRUPLQJ-RXUQDORI0HFKDQLFDO:RUNLQJ7HFKQRORJ\YRO QRSS 0/LQGJUHQ([SHULPHQWDODQGFRPSXWDWLRQDOLQYHVWLJDWLRQVRIWKHUROOORDGDQGUROOWRUTXH ZKHQKLJKVWUHQJWKVWHHOLVUROOIRUPHG-RXUQDORI0DWHULDO3URFHVVLQJ7HFKQRORJ\YRO QRSS -/DUUDxDJD/*DOGRV/8QFLOOD$(W[DOHNX'HYHORSPHQWDQGYDOLGDWLRQRIDQXPHULFDO PRGHOIRUVKHHWPHWDOUROOIRUPLQJ,QWHUQDWLRQDO-RXUQDORI0DWHULDO)RUPLQJYROSS (6DHQ]GH$UJDQGRxD/*DOGRV$/HJDUGD-/DUUDx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
.H\(QJLQHHULQJ0DWHULDOV9ROV
>@ >@ >@ >@ >@ >@ >@ > @ >@ >@ >@
>@ >@ >@ >@ >@
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
