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Mass customization in production and operations management, a process of integrating mass production/standardization principles with customization, seems to be gaining momentum in the United States as well as all over the world. Major companies like Dell, Motorola, Hewlett-Packard, General Motors, Ford, Chrysler, Toyota, Proctor and Gamble, and others are experimenting and also effectively implementing...
An empirical analysis was conducted to assess the relative effectiveness of four integer programming models for the regular permutation flowshop problem. Each of these models was used to solve a set of 60 flowshop problems. Analysis of the resultant computer solution times for each model indicated that the two assignment problem based models solved these problem instances in significantly less computer...
The purpose of this paper is to investigate an one-supplier-one-retailer supply chain that experiences a disruption in demand during the planning horizon. While demand uncertainty has long been a central research issue in supply chain management, little attention has been given to disruptions once the production plan has been made. In this paper, we show that changes to the original plan induced by...
The current paper presents mathematical programming models for use in benchmarking where multiple performance measures are needed to examine the performance and productivity changes. The standard data envelopment analysis method is extended to incorporate benchmarks through (i) a variable-benchmark model where a unit under benchmarking selects a portion of benchmark such that the performance is characterized...
In the literature, decision support systems (DSSs) have typically been evaluated on only a single criterion such as the outcome from decision making. However, it is clear that DSSs simultaneously have a critical impact on the process-oriented aspects of decision making, suggesting that a combination of both outcome and process criteria are highly relevant for DSS evaluation. Indeed, process characteristics...
Data envelopment analysis (DEA) assigns a score to each production unit (decision making unit-DMU) considered in the analysis. Such score indicates whether the unit is efficient or not. For inefficient units, it also identifies a hypothetical unit as the target and thus suggests improvements to their efficiency. However, for efficient units no further improvement can be indicated based on a DEA analysis...
This paper concentrates on the financial analysis of investment performance taking Sharpe's ratio as a basic point of reference, as well as giving further consideration to the use of this performance measure as an approximation to a utility index.We also propose certain changes to Sharpe's ratio which would, on the one hand, avoid the appearance of inconsistent assessments and, on the other, provide...
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