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The following topics are dealt with: decision analysis; technology management; knowledge management; supply chain management; production planning; production control; information processing; service innovation; quality control; human factors; manufacturing systems; reliability; maintenance engineering; engineering education; e-business; and e-commerce.
In this paper, we extend Kliger and Levikson's approach for pricing insurance contracts by considering the influence of level of capital held on the price of insurance contracts, and we discuss determination of optimal capital level for an insurer. The results of our analysis show that the optimal number of insured, the maximum value of expected profit increase, optimal premium (price), and the optimal...
In game theory, two or more parties need to make decisions with fully or partially conflicting objectives. In situations where reaching a more favourable outcome depends upon cooperation between the two conflicting parties, some of the mental and subjective attitudes of the decision makers must be considered. While the decision to cooperate with others bears some risks due to uncertainty and loss...
In order to avoid fierce price competition, companies intend to differentiate their product lines and to target specific niche market segments. However, companies with expending product lines/families often face the challenge of controlling inventory cost, consistent product quality and good delivery performance. As a result, the platform based modular design becomes a promising method to overcome...
The Analytic Hierarchy Process (AHP) requires the decision maker to provide pair wise comparisons to obtain a complete ranking of the alternatives. One of the main concerns of this method is related to the level of consistency needed to produce reliable results. When the decision maker is not consistent enough, resulting scores and weights values are questionable. The aim of this paper is to study...
This research is designed to improve the original Overall Equipment Effectiveness (OEE). The OEE is the process, in which acquired to specify an equivalent weight setting of every single element, even though; each concerning losses are totally different. Hence, the study proposes a simpler weight setting method, so called the Rank-Order Centroid (ROC), to identify dissimilarity in weighting each OEE...
The credit scoring has been regarded as a critical topic and its related departments make efforts to collect huge amount of data to avoid wrong decision. An effective classificatory model will objectively help managers instead of intuitive experience. This study proposes five approaches combining with the back-propagation neural network (BPN) classifier for features selection that retains sufficient...
The mixed logit (ML) discrete choice model is highly flexible and capable of modeling complex choice behaviors. A popular method for estimation of an ML model is through maximization of a simulated likelihood function, which, however, often contains multiple local optima in a high-dimensional solution space. This paper reports the development of a dynamic differential evolution (DE) algorithm for...
In the present paper, fuzzy-scale-based multiple attribute decision making (MADM-TOPSIS) method has been reported to rank five different alternative finishing processes for an internal cylindrical surface through systematic multi-attribute based evaluation. The mathematical procedure yields a suitability index which is used to rank finishing processes. The present TOPSIS-MADM method indicates that...
This paper applies the real options approach to sort out the carbon management strategies for an urban logistics corporation to reduce the carbon emission, and measures the potential gain or loss under the green logistics cost concept. Hence, the paper divides different corporation-level investing circumstances into three stages (i.e., no other change stage, carbon offset stage, and internal system...
This manuscript introduces the concept of game options pricing model to build an approach by the decision analysis to create a bi-national market and two firm's competitive market entry behavior. The production system, market entry, and marketing strategy will face high risk uncertainty in the future; the flexible management value derived from decision-making is not only made now, but may be also...
Many companies are engaged in increasing their productivity and improving the quality of their products and operations. A means to achieve such improvements is to adopt Business Process Management practices. Techniques to analyze, evaluate and improve business processes are deemed Business Process Modeling. Currently, there are several methodologies and techniques for modeling to choose from. The...
The development of Statistical Process Control mostly focuses on temporal data. Those techniques are not sufficient for analyzing the manufacturing information embedded with spatial structure. The monitoring process that treats manufacturing records as purely multivariate data would miss important information of spatial relationship among the records. Thus, this paper proposes a spatial-EWMA test...
This research aims to explore the laws governing the drives and motives of the luxury consumption motivation based on the luxury and conspicuous theories. Firstly, this research analysis and discuss four-dimensionality of conspicuous consumption of luxury goods of Chinese customers. Then, the authors evaluate the four factors of influence include luxury brands, patron status, fashions and experiences,...
The basic picture and framework of the transnational interregional Input-Output (I-O) table cross countries is introduced, and conventional impact analyses will be conducted to capture cross-border transactions and inter-linkages, from one region to another region, and vice versa. Also, the relationship between regional linkages and the import/export trades will be investigated. The I-O tables-received...
Traditional sales and operations planning (S&OP) focus on balancing between supply and demand in a company. It is utilized to ensure the alignment of plans supporting the business strategic goal. An obvious drawback of past decision models is lacking in considering financial planning. The paper proposes a new global S&OP planning model integrating financial flows and physical flows in a company...
In this research paper the alternatives of vacuum cleaners are ranked using MADM methods such as Simple Additive Weighing (SAW) Method, Weighted Product Method (WPM), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) Method, Modified TOPSIS, Grey Relational Analysis (GRA) and Preference Ranking Organization Method for Enrichment Evaluations (PROMETHEE). The results of various...
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