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The cardinality constrained portfolio selection problem arises due to the empirical findings that investors tend to hold a limited number of assets. Yet the lack of fast computational methods for frontier of cardinality constrained portfolio investments makes the performance evaluation of this problem a long-standing challenge. Classic Data Envelopment Analysis (DEA) models have been justified valid...
Retailers’ individual products are categorized as part of product families. Merchandising rules specify how the products should be arranged on the shelves using product families, creating more structured displays capable of increasing the viewers’ attention. This paper presents a novel mixed integer programming formulation for the Shelf Space Allocation Problem considering two innovative features...
It is generally believed that the preference ranking method PROMETHEE has a quadratic time complexity. In this paper, however, we present an exact algorithm that computes PROMETHEE’s net flow scores in time O(qnlog(n)), where q represents the number of criteria and n the number of alternatives. The method is based on first sorting the alternatives after which the unicriterion flow scores of all alternatives...
We analyse a principal-agent contracting model with asymmetric information between a supplier and a retailer. Both the supplier and the retailer have the classical non-linear economic ordering cost functions consisting of ordering and holding costs. We assume that the retailer has the market power to enforce any order quantity. Furthermore, the retailer has private holding costs. The supplier wants...
The American Cancer Society (ACS) updated their breast cancer screening guidelines in late 2015 and recommends that all women have the choice to start annual mammography screenings beginning at age 40. For women ages 45–54, the ACS explicitly recommends annual mammograms. However, due to the potential harms associated with screening mammography, such as overdiagnosis and unnecessary work-ups, the...
In a recent study, Konur and Geunes (2016) analyzed a supplier’s pricing decisions for a retail chain that owns and can control a set of retail stores. They assumed that each retail store’s market price function is individually defined and discussed variational inequality formulations and numerical approximations for determining optimal decisions at the retail and supply stages, respectively. In this...
Case mix planning refers to allocating available time in the operating rooms composing an operating theater (OT) among different surgical specialties. Case mix planning is an important tool for achieving the goals of a hospital with respect to quality of care and financial position. Case mix planning is becoming increasingly prevalent as hospital reimbursement continues to shift from fee-for-service...
The aim of this manuscript is analyse the long-term scale efficiency of the solid waste disposal service, with the application of a new method for calculating time-invariant and time-variant scale inefficiency using DEA panel data estimates, an approach that allows us to analyse the evolution of scale inefficiency over a period of time. The proposed method is applied to the solid waste collection...
This paper aims to measure the regional production potential of Chinese provinces based on a generalized capacity utilization (CU) indicator. To develop this indicator, we first categorize the factors of production into fixed and variable inputs. Second, we define the generalized CU indicator as the difference between two directional distance functions constructed relative to the traditional production...
The item fill rate – defined as the fraction of demand that is immediately satisfied from on-hand stock – is commonly used as a performance measure in service level agreements between customers and suppliers. Under such agreements, the fill rate is measured over a finite horizon (the performance review period) and the supplier faces a financial penalty if an agreed target is not met. The distribution...
This work presents a methodology to perform a multi-criteria decision analysis based on qualitative assessments from multiple experts or stakeholders. The application that motivated these methodological developments is also described, consisting of an assessment of policies to foster technological innovations in the electricity sector, namely in a context of evolution to smart grids. Qualitative assessments...
This paper presents a mathematical model for multi-depot multi-compartment vehicle routing problem. The objective function of the proposed problem includes the minimization of the number of vehicles and then minimization of the total traversed routes. In this type of problem, the cargo space of each vehicle has multiple compartments, and each compartment is dedicated to a single type of product. In...
We study two machine scheduling subject to arbitrary machine availability constraint. Each machine can have multiple unavailable intervals, and both machines can be unavailable at the same time. The jobs can be resumed after being preempted by another job or interrupted by the unavailable intervals. We consider both the single criterion and the bi-criteria problems concerning two most common criteria:...
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