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Why are so many on-line banking ventures-start-ups and incumbents alike-foundering? An industry which can theoretically conduct such a high proportion of its transactions electronically would seem well suited to a rapid move on-line. Yet, the rate at which customers around the world are adopting Internet banking remains relatively low; and furthermore the capability to convert or acquire customers...
As more supply chains are becoming dependent upon suppliers, an interruption of supply networks can obstruct the functionality of the entire supply chain. The purpose of this paper is to present what we believe is a useful way to think about the number of suppliers needed in the presence of risks. We model the decision-making process using a decision tree approach. We consider catastrophic, ''super-events,''...
This paper aims to examine potential differences in perceived usefulness of various forecasting formats from the perspectives of providers and users of predictions. Experimental procedure consists of asking participants to assume the role of forecast providers and to construct forecasts using different formats, followed by requesting usefulness ratings for these formats (Phase 1). Usefulness of the...
The present study draws on the information technology (IT), marketing, purchasing, and organization literatures to develop an integrated model of the antecedents and outcomes of IT investments in the context of organizational purchasing. We examine the role that IT investments play in enacting collaborative communications strategies, fostering improvements in interfirm relationships, and enhancing...
Analyzing the efficiency of actions, productions, or organizational units is a fundamental problem of economic research. Data Envelopment Analysis (DEA) is designed to measure the efficiency of decision making units. The set of reference units in DEA is generated on the assumption of a specific production technology. From a decision theoretical view, DEA models are based on scalarizing functions known...
Studies in process change have focused on the improvement of operational performance measures such as the actual waiting time of a service system. However, process redesign may not only change the actual waiting time but also have significant impact on perceived waiting time. We examine how process changes affect customer perceptions on waiting and customer satisfaction. We describe a field study...
Predictive maintenance is one of the maintenance policies which is revolutionising the industry, due to the increase in security, quality and availability which is on offer to an industrial plant. However, the implantation of a predictive maintenance programme (PMP) is a strategic decision, and to date the analysis and study of questions relative to its setting up, management and supervision have...
The present paper provides conditions for the consistency among different orderings which may be defined on sets of financial portfolios; in particular, a different reading key for some classical results is proposed.Besides arbitrage (whose impossibility is necessary and sufficient for consistency between the orderings based on prices and payoffs, respectively), a different notion, the agent arbitrage,...
Forecasting using time series (TS) models are often based on linear regression or methods using various smoothing techniques. When estimating the parameters used in smoothing techniques, it has become a common practice to optimize the smoothing constants (parameters). This new practice is a result of the ease such methods can be accomplished when using the built in Solver optimization tool in modern...
Standard textbooks of Investment/Financial Management teach that although portfolio diversification can help reduce investment risk without sacrificing the expected rate of return, the benefit of diversification is exhausted with a portfolio size of 10-15. Since by then, most of the diversifiable risk is eliminated, leaving only the portion of systematic risk. How valid is this ''common'' knowledge?...
The superior performance of echelon stock based policies for multi-stage serial and assembly inventory systems has been well established in literature. De Bodt and Graves [1] were the first to develop an echelon stock based continuous review (R,Q) model for a two-stage serial system. In this paper, we examine their model for fast moving items from the implementation point of view, and suggest a modification...
The aim of this paper is to gain insight into the potential use of random effects choice models as analytical instruments. These instruments then may be used to identify the latent predisposition and benefit segments of a market in the context of store selection, specifically, in the context of the selection of store format. First, the theoretical bases, formulations, and practical aspects that make...
In recent years, many companies have come to recognize the crucial role that purchasing and materials management activities play in determining overall corporate performance. Of main concern in many companies is the supplier development program. To examine the role of supplier development in the context of buyer-supplier performance from a buying firm's perspective, a survey was conducted of 142 electronic...
Flexibility, speed, and efficiency are major challenges for operations managers in today's knowledge-intensive organizations. Such requirements are converted into three production scheduling criteria: (a) minimize the impact of setup times in flexible production lines when moving from one product to another, (b) minimize number of tardy jobs, and (c) minimize overall production time, or makespan,...
In a recent article in this journal Hwarng and Ang (HA) introduce what they describe as a 'simple' neural network for time series forecasting. It is argued here that the approach is better described as logistic regression applied in a time-series context. However, the HA model cannot be implemented through the standard LOGIT technique for handling qualitative dependent variables. Nor is it same as...
Exponentially growing databases have been tackled on two basic fronts: technological and methodological. Technology offered solution in storage capacity, processing power, and access speed. Among the methodologies are indexing, views, data mining, and temporal databases, and combinations of technology and methodology come in the form of data warehousing, all designed to get the most out of and best...
This paper presents an application of data envelopment analysis for analysing the performance of a number of spanish municipalities in terms of the amount of glass recycled. The inputs considered are the number of glass containers assigned to each municipality on one hand and the population and the number of bars and restaurants in town on the other. The number of containers is the only discretionary...
This paper describes the development of a mixed integer linear programming model for a flow shop with multi-processor workstations. The primary objective of the model is to minimize makespan through lot-streaming. A secondary objective is to determine workforce size and schedule. A constant daily workload is assumed. The model is simple enough to be understood and implemented by managers and supervisors...
Since the seminal work of Zadeh (Information Control 8 (1965) 338) fuzzy set theory (FST) has evolved into a valuable extension to traditional techniques, such as regression and decision tree models, for decision analysis conducted under conditions of vagueness and ambiguity. This paper is concerned with the exposition and application of a fuzzy decision tree approach to a problem involving typical...
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