Universitas Brawijaya again inaugurated two professors, Saturday (12/3/2022). The first is Dr. Drs. Muhammad Saifi, M.Si from the Faculty of Administrative Sciences as a professor in the field of Financial Management. He is the 12th active professor at FIA and 163rd at UB. Second, Wayan Firdaus Mahmudy, S.Si., M.T., Ph.D from the Faculty of Computer Science as a professor in the field of Computer Science. He is the 1st active professor at Filkom and 164th at UB.
Prof.Dr.Drs. Muhammad Saifi, M.Si : Integrated Finance in Insurance Companies
Dr.Drs. Muhammad Saifi, M.Si brought a new model for the inauguration of his professors, namely Integrated Financial Policy. “Integrated Financial Policy” is formulated with five basic elements, namely corporate governance, intellectual capital, investment policy, capital structure policy and dividend policy. Integrated financial policy is part of the science of financial and business management that is oriented towards the welfare of company owners.
The integrated financial policy model was obtained from taking a sample of 8 insurance companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2020. This sample of insurance companies is interesting because of the increasing trend of people needing protection for what they have. But don’t let the incident of failing to pay the policy in 2019 repeated.
In general, the profit of insurance companies decreased from 2019 at Rp. 0.69 trillion to Rp. 0.64 trillion in 2020. The number of insurance companies which fluctuated every year tended to decrease in 2020. This proves that these insurers have not implemented proper financial policies.
The right financial policy to improve company performance begins with proper corporate governance. Saifi said that in order for the company to remain objective, efficient and goal-oriented, shareholders and other stakeholders need to take part in corporate governance.
Furthermore, the company’s competitive ability is not only on ownership of tangible assets, but more on intangible assets on innovation, organizational management, skills and resources it has. The company will emphasize the importance of knowledge assets. One approach to the valuation of knowledge assets is intellectual capital.
These two important points can encourage the adoption of good financial policies. Basically, the company’s financial policy covers three areas, namely investment policy, capital structure policy, and dividend policy.
The advantage of this integrated financial policy model is that it combines corporate governance, intellectual capital, investment policy, capital structure policy and dividend policy into a unified analysis so that the company’s goals for the welfare of the owners can be achieved. The weakness of this new model is related to the capital structure policy which prioritizes the use of internal capital rather than external capital.
Prof. Wayan Firdaus Mahmudy S.Si., M.T., Ph.D: Artificial Intelligence for the Manufacturing Industry
The Dean of the Faculty of Computer Science, Wayan Firdaus Mahmudy, S.Si., M.T., Ph.D was inaugurated as a professor with the theme Development of Integrated Artificial Intelligence Methods for Optimizing Production and Distribution Processes in the Manufacturing Industry.
In the speech, the proposed solution framework is called “Integrated Model of Manufacturing Distribution Production (MPDM)”. MPDM combines adaptive neuro fuzzy inference system (ANFIS) to forecast product demand by consumers, improved genetic algorithms (IGA) to determine the amount of each type of goods that must be produced, real-coded genetic algorithms (RCGA) to arrange production schedules, and modified genetic algorithms (MOGA) to set a distribution mechanism.
There are four problems in the production process to distribution that must be resolved. First, forecasting is needed to get the number of consumer demand for each type of product. Second, aggregate production planning produces the quantity of each type of goods that must be produced. Third, the determination of the start time to produce each type of product is carried out in the scheduling process. Fourth, the production process is carried out and then the product must be distributed to consumers.
These four problems must be solved using optimization principles in the manufacturing industry. The resulting product must be better, the production process faster, more competitive in terms of price, and acceptable to consumers on time with low distribution costs.
Various methods have been developed to find solutions to optimization problems. The general methods used are mathematical modeling based methods such as min–max dynamic programming and non-integer linear optimization problems.
Meanwhile, the application of artificial intelligence in this process is defined as a problem-solving mechanism by adopting a human mindset. In this presentation, Wayan focuses on the application of artificial neural networks and evolutionary computation as part of artificial intelligence methods for solving optimization problems in industry.
All of these artificial intelligence methods can be applied in an integrated manner to produce the best solutions for the manufacturing industry by lowering production and distribution costs. The disadvantage of this integrated model is that it requires preliminary trials which are quite time consuming to determine the best parameter values of each method to produce an optimal solution. (Ai/ Humas UB/ Trans. Iir)