Business Commons^™

Investigating The Benefits Of Using Implicit Averaging In Construction Simulation Optimization Models, Mohammed Mawlana, Faridaddin Vahdatikhaki

College of Architecture and the Built Environment Faculty Papers

Stochastic simulation optimization has been proposed by several researchers to optimize construction operations. Traditionally, explicit averaging is used to estimate the objective functions of candidate solutions. This is carried out by calculating the average estimates of the objective functions obtained from a number of simulation replications. However, the computation effort increases as the number of replications and the size of the search space increase. The main objective of this paper is to study the benefits of using implicit averaging and common random numbers to improve the quality of the optimum solutions while reducing the computation time. The initial results of …

Price Optimization For Revenue Maximization At Scale, Nikhil Gupta, Massimiliano Moro, Kailey A. Ayala, Bivin Sadler

SMU Data Science Review

This study presents a novel approach to price optimization in order to maximize revenue for the distribution market of non-perishable products. Data analysis techniques such as association mining, statistical modeling, machine learning, and an automated machine learning platform are used to forecast the demand for products considering the impact of pricing. The techniques used allow for accurate modeling of the customer’s buying patterns including cross effects such as cannibalization and the halo effect. This study uses data from 2013 to 2019 for Super Premium Whiskey from a large distributor of alcoholic beverages. The expected demand and the ideal pricing strategy …

Technical Project Management: Union Of Systems Engineering Processes With Project Management Processes, Deyaaldeen M. Abusal

Open Access Theses & Dissertations

Today, most projects in technical fields utilize project management to complete projects as planned, and some of the projects utilize system engineering to cover the project in both technically and commercially. This Thesis investigates the relationship between Project Management (PM) and Systems Engineering (SE) to determine if a suitably professional level of management and level of quality can be achieved. When studying PM and SE separately and make a comparison between both, there is much overlap between these two mature fields. The project could be planned and completed solely by either process. This study combines both fields of Project Management …

Hbcu Technology Transfer Supply Chair Networks’ Sustainability: Budget Resource Planning Tool Development, Clovia Hamilton

Winthrop Faculty and Staff Publications

This study describes the development of a university technology transfer supply chain network sustainability tool that Historically Black Colleges and Universities (HBCUs) can use to become more self-reliant financially. HBCUs lag behind their peer non-HBCUs because historically they have been under-served and were originally established largely as teaching and blue collar trade schools. Increased involvement in research oriented activities such as technology transfer will likely enable HBCUs to grow into new or stronger research institutions. The literature review revealed several problem areas with non-HBCUs university technology transfer include a resource planning issues. These problem areas for non-HBCUs would be challenging …

Joint Optimization Of Allocation And Release Policy Decisions For Surgical Block Time Under Uncertainty, Mina Loghavi

Doctoral Dissertations

The research presented in this dissertation contributes to the growing literature on applications of operations research methodology to healthcare problems through the development and analysis of mathematical models and simulation techniques to find practical solutions to fundamental problems facing nearly all hospitals.

In practice, surgical block schedule allocation is usually determined regardless of the stochastic nature of case demand and duration. Once allocated, associated block time release policies, if utilized, are often simple rules that may be far from optimal. Although previous research has examined these decisions individually, our model considers them jointly. A multi-objective model that characterizes financial, temporal, …

Mathematical Modeling For Platform-Based Product Configuration Considering Total Life-Cycle Sustainability, Tian Lan

Theses and Dissertations--Mechanical Engineering

Many companies are using platform-based product designs to fulfill the requirements of customers while maintaining low cost. However, research that integrates sustainability into platform-based product design is still limited. Considering sustainability during platform-based design process is a challenge because the total life-cycle from pre-manufacturing, manufacturing and use to post-use stages as well as economic, environmental and societal performance in these stages must be considered. In this research, an approach for quantifying sustainability is introduced and a mathematical model is developed for identifying a more sustainable platform. Data from life-cycle assessment is used to quantify environmental factors; criteria from the Product …

Indefinite Knapsack Separable Quadratic Programming: Methods And Applications, Jaehwan Jeong

Doctoral Dissertations

Quadratic programming (QP) has received significant consideration due to an extensive list of applications. Although polynomial time algorithms for the convex case have been developed, the solution of large scale QPs is challenging due to the computer memory and speed limitations. Moreover, if the QP is nonconvex or includes integer variables, the problem is NP-hard. Therefore, no known algorithm can solve such QPs efficiently. Alternatively, row-aggregation and diagonalization techniques have been developed to solve QP by a sub-problem, knapsack separable QP (KSQP), which has a separable objective function and is constrained by a single knapsack linear constraint and box constraints. …

Sensitivity Analysis And Optimization For Selected Supply Chain Management Issues In The Company – Using System Dynamics And Vensim, Elżbieta Kasperska, Elwira Mateja-Losa, Rafał Marjasz

Journal of Entrepreneurship, Management and Innovation JEMI

The aim of our paper is to present the new results of research work on optimization and simulation for some logistic problems in the company. The System Dynamics (SD) method and the Vensim simulation language are applied in order to solve specific managerial problems described by Forrester in the model of supply chain. The historical model of Customer-Producer-Employment System by Forrester (Forrester, 1961) has not been examined with the sensitivity analysis, from the “automatic” testing perspective. Optimization experiments have not been conducted, either. It is surprising, since the model is old and widely known. The opportunities offered by the Vensim …

Incentives For Optimal Allocation Of Hiv Prevention Resources, Monali M. Malvankar

Electronic Thesis and Dissertation Repository

The thesis consists of three main chapters on optimal incentives for a multi-level allocation process of HIV/AIDS prevention funds. HIV/AIDS prevention funds often traverse several levels of distribution. At each level, equity-based heuristics are often used by decision-makers that may lead to sub-optimal allocation. Mathematical programming models may help to allocate prevention funds optimally. Thus, incentives could be given to decision-makers to encourage optimal allocation.

Chapter 4 investigates the impact of incentives by developing a model in which an upper-level decision-maker (UD) allocates funds to a single lower-level decision-maker (LD) who then distributes funds to local programs. The UD makes …