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Operations Research, Systems Engineering and Industrial Engineering Commons™
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Articles 1 - 30 of 87
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Understanding The Impact Of Trade Policy Effect Uncertainty On Firm-Level Innovation Investment: A Deep Learning Approach, Daniel Chang, Nan Hu, Peng Liang, Morgan Swink
Understanding The Impact Of Trade Policy Effect Uncertainty On Firm-Level Innovation Investment: A Deep Learning Approach, Daniel Chang, Nan Hu, Peng Liang, Morgan Swink
Research Collection School Of Computing and Information Systems
Integrating the real options perspective and resource dependence theory, this study examines how firms adjust their innovation investments to trade policy effect uncertainty (TPEU), a less studied type of firm specific, perceived environmental uncertainty in which managers have difficulty predicting how potential policy changes will affect business operations. To develop a text-based, context-dependent, time-varying measure of firm-level perceived TPEU, we apply Bidirectional Encoder Representations from Transformers (BERT), a state-of-the-art deep learning approach. We apply BERT to analyze the texts of mandatory Management Discussion and Analysis (MD&A) sections of annual reports for a sample of 22,669 firm-year observations from 3,181 unique …
Lean Manufacturing Approach To Increase Packaging Efficiency, Lina Gozali, Irsandy Kurniawan, Aldo Salim, Iveline Anne Marie, Benny Tjahjono, Yun Chia Liang, Aldy Gunawan, Nnovia Hardjo Sie, Yuliani Suseno
Lean Manufacturing Approach To Increase Packaging Efficiency, Lina Gozali, Irsandy Kurniawan, Aldo Salim, Iveline Anne Marie, Benny Tjahjono, Yun Chia Liang, Aldy Gunawan, Nnovia Hardjo Sie, Yuliani Suseno
Research Collection School Of Computing and Information Systems
The company upon which this paper is based engages in flexible packaging production, especially pharmaceutical products with guaranteed quality, trusted by consumers. Its production process includes printing, laminating, and assembling processes. Production activities are done manually and automatically using machines, so various types of waste are often found in these processes, making the level of plant efficiency nonoptimal. This study aims to identify wastes occurring in the production process, especially the production of pollycelonium with three colour variants as the highest demand product, by applying lean manufacturing concepts. The Current Value Stream Mapping (CVSM) used to map the production process …
Choice-Based Crowdshipping: A Dynamic Task Display Problem, Alp Arslan, Firat Kilci, Shih-Fen Cheng, Archan Misra
Choice-Based Crowdshipping: A Dynamic Task Display Problem, Alp Arslan, Firat Kilci, Shih-Fen Cheng, Archan Misra
Research Collection School Of Computing and Information Systems
This paper studies the integration of the crowd workforce into a generic last-mile delivery setting in which a set of known delivery requests should be fulfilled at a minimum cost. In this setting, the crowd drivers are able to choose to perform a parcel delivery among the available and displayed requests. We specifically investigate the question: what tasks should be displayed to an individual driver, so as to minimize the overall delivery expenses? In contrast to past approaches, where drivers are either (a) given the choice of a single task chosen so as to optimize the platform’s profit, or (b) …
Joint Chance-Constrained Staffing Optimization In Multi-Skill Call Centers, Tien Thanh Dam, Thuy Anh Ta, Tien Mai
Joint Chance-Constrained Staffing Optimization In Multi-Skill Call Centers, Tien Thanh Dam, Thuy Anh Ta, Tien Mai
Research Collection School Of Computing and Information Systems
This paper concerns the staffing optimization problem in multi-skill call centers. The objective is to find a minimal cost staffing solution while meeting a target level for the quality of service (QoS) to customers. We consider a staffing problem in which joint chance constraints are imposed on the QoS of the day. Our joint chance-constrained formulation is more rational capturing the correlation between different call types, as compared to separate chance-constrained versions considered in previous studies. We show that, in general, the probability functions in the joint-chance constraints display S-shaped curves, and the optimal solutions should belong to the concave …
Coordinated Delivery To Shopping Malls With Limited Docking Capacity, Ruidian Song, Hoong Chuin Lau, Xue Luo, Lei Zhao
Coordinated Delivery To Shopping Malls With Limited Docking Capacity, Ruidian Song, Hoong Chuin Lau, Xue Luo, Lei Zhao
Research Collection School Of Computing and Information Systems
Shopping malls are densely located in major cities such as Singapore and Hong Kong. Tenants in these shopping malls generate a large number of freight orders to their contracted logistics service providers, who independently plan their own delivery schedules. These uncoordinated deliveries and limited docking capacity jointly cause congestion at the shopping malls. A delivery coordination platform centrally plans the vehicle routes for the logistics service providers and simultaneously schedules the dock time slots at the shopping malls for the delivery orders. Vehicle routing and dock scheduling decisions need to be made jointly against the backdrop of travel time and …
Vehicle Routing Problem For Multi-Product Cross-Docking, Aldy Gunawan, Audrey Tedja Widjaja, Benjamin Gan, Vincent F. Yu, Panca Jodiawan
Vehicle Routing Problem For Multi-Product Cross-Docking, Aldy Gunawan, Audrey Tedja Widjaja, Benjamin Gan, Vincent F. Yu, Panca Jodiawan
Research Collection School Of Computing and Information Systems
Cross-docking is a logistic technique that can reduce costs occurred in a supply chain network while increasing the flow of goods, thus shortening the shipping cycle. Inside a cross-dock facility, the goods are directly transferred from incoming vehicles to outgoing vehicles without storing them in-between. Our research extends and combines this cross-docking technique with a well-known logistic problem, the vehicle routing problem (VRP), for delivering multiple products and addresses it as the VRP for multi-product cross-docking (VRP-MPCD). We developed a mixed integer programming model and generated two sets of VRP-MPCD instances, which are based on VRPCD instances. The instances are …
When The Bank Comes To You: Branch Network And Customer Omnichannel Banking Behavior, Mi Zhou, Dan Geng, Vibhanshu Abhishek, Beibei Li
When The Bank Comes To You: Branch Network And Customer Omnichannel Banking Behavior, Mi Zhou, Dan Geng, Vibhanshu Abhishek, Beibei Li
Research Collection School Of Computing and Information Systems
Banks today have been increasingly reducing their physical presence and redirecting customers to digital channels, and yet, the consequences of this strategy are not well studied. This paper investigates the effects of banks' branch network changes (i.e., branch openings and branch closures) on customer omnichannel banking behavior. Using approximately 0.85 million (33 months') anonymized individual-level banking transactions from a large commercial bank in the United States, this paper shows the asymmetric effects of branch openings and branch closures on customer omnichannel banking behavior. In particular, we find that branch openings increase customers' branch transactions; however, the first branch opening leads …
Correlation-Sensitive Next-Basket Recommendation, Duc Trong Le, Hady Wirawan Lauw, Yuan Fang
Correlation-Sensitive Next-Basket Recommendation, Duc Trong Le, Hady Wirawan Lauw, Yuan Fang
Research Collection School Of Computing and Information Systems
Items adopted by a user over time are indicative ofthe underlying preferences. We are concerned withlearning such preferences from observed sequencesof adoptions for recommendation. As multipleitems are commonly adopted concurrently, e.g., abasket of grocery items or a sitting of media consumption, we deal with a sequence of baskets asinput, and seek to recommend the next basket. Intuitively, a basket tends to contain groups of relateditems that support particular needs. Instead of recommending items independently for the next basket, we hypothesize that incorporating informationon pairwise correlations among items would help toarrive at more coherent basket recommendations.Towards this objective, we develop a …
Coordinating Supply And Demand On An On-Demand Service Platform With Impatient Customers, Jiaru Bai, Kut C. So, Christopher S. Tang, Xiqun Chen, Hai Wang
Coordinating Supply And Demand On An On-Demand Service Platform With Impatient Customers, Jiaru Bai, Kut C. So, Christopher S. Tang, Xiqun Chen, Hai Wang
Research Collection School Of Computing and Information Systems
We consider an on-demand service platform using earning sensitive independent providers with heterogeneous reservation price (for work participation) to serve its time and price sensitive customers with heterogeneous valuation of the service. As such, both the supply and demand are "endogenously'' dependent on the price the platform charges its customers and the wage the platform pays its independent providers. We present an analytical model with endogenous supply (number of participating agents) and endogenous demand (customer request rate) to study this on-demand service platform. To coordinate endogenous demand with endogenous supply, we include the steady-state waiting time performance based on a …
A Rolling Horizon Auction Mechanism And Virtual Pricing Of Shipping Capacity For Urban Consolidation Centers, Chen Wang, Hoong Chuin Lau, Yun Fong Lim
A Rolling Horizon Auction Mechanism And Virtual Pricing Of Shipping Capacity For Urban Consolidation Centers, Chen Wang, Hoong Chuin Lau, Yun Fong Lim
Research Collection School Of Computing and Information Systems
A number of cities around the world have adopted urban consolidation centers (UCCs) to address challenges of last-mile deliveries. At the UCC, goods are consolidated based on their destinations prior to their deliveries into city centers. Typically, a UCC owns a fleet of ecofriendly vehicles to carry out such deliveries. Shippers/carriers that make use of the UCC’s service hence no longer need to be restricted by timewindow and vehicle-type regulations. As a result, they retain the ability to deploy large trucks for the economies of scale from the source to the UCC which is located outside the city center. Furthermore, …
Strategic Decision Support System Using Heuristic Algorithm For Practical Outlet Zones Allocation To Dealers In A Beer Supply Distribution Network, Michelle Lee Fong Cheong
Strategic Decision Support System Using Heuristic Algorithm For Practical Outlet Zones Allocation To Dealers In A Beer Supply Distribution Network, Michelle Lee Fong Cheong
Research Collection School Of Computing and Information Systems
We consider a two-echelon beer supply distribution network with the brewer replenishing the dealers and the dealers serving the outlet zones directly, for multiple product types. The allocation of the outlet zones to the dealers will determine the quantity of products the brewer replenishes each dealer, which will in turn impact the total warehousing and transportation costs. The non-linear optimization model formulated is difficult to solve to optimality, and the model itself does not include practical business considerations in the distribution business. A heuristics algorithm is designed and easily implemented using spreadsheets with Visual Basic programming to effectively and efficiently …
Decision Trees To Model The Impact Of Disruption And Recovery In Supply Chain Networks, Loganathan Ponnanbalam, L. Wenbin, Xiuju Fu, Xiaofeng Yin, Zhaoxia Wang, Rick S. M. Goh
Decision Trees To Model The Impact Of Disruption And Recovery In Supply Chain Networks, Loganathan Ponnanbalam, L. Wenbin, Xiuju Fu, Xiaofeng Yin, Zhaoxia Wang, Rick S. M. Goh
Research Collection School Of Computing and Information Systems
Increase in the frequency of disruptions in the recent times and their impact have increased the attention in supply chain disruption management research. The objective of this paper is to understand as to how a disruption might affect the supply chain network - depending upon the network structure, the node that is disrupted, the disruption in production capacity of the disrupted node and the period of the disruption - via decision trees. To this end, we first developed a 5-tier agent-based supply chain model and then simulated it for various what-if disruptive scenarios for 3 different network structures (80 trials …
Social Media For Supply Chain Risk Management, Xiuju Fu, Rick S. M. Goh, J. C. Tong, Loganathan Ponnanbalam, Xiaofeng Yin, Zhaoxia Wang, H. Y. Xu, Sifei Lu
Social Media For Supply Chain Risk Management, Xiuju Fu, Rick S. M. Goh, J. C. Tong, Loganathan Ponnanbalam, Xiaofeng Yin, Zhaoxia Wang, H. Y. Xu, Sifei Lu
Research Collection School Of Computing and Information Systems
With the rapid increase of online social network users worldwide, social media feeds have become a rich and valuable information resource and attract great attention across diversified domains. In social media data, there are abundant contents of two-way and interactive communication about products, demand, customer services and supply. This makes social media a valuable channel for listening to the voices from the market and measuring supply chain risks and new market trends for companies. In this study, we surveyed the potential value of social media in supply chain risk management (SCRM) and examined how they can be applied to SCRM …
A Dynamic Programming Approach To Achieving An Optimal End State Along A Serial Production Line, Shih-Fen Cheng, Blake E. Nicholson, Marina A. Epelman, Daniel J. Reaume, Robert L. Smith
A Dynamic Programming Approach To Achieving An Optimal End State Along A Serial Production Line, Shih-Fen Cheng, Blake E. Nicholson, Marina A. Epelman, Daniel J. Reaume, Robert L. Smith
Research Collection School Of Computing and Information Systems
In modern production systems, it is critical to perform maintenance, calibration, installation, and upgrade tasks during planned downtime. Otherwise, the systems become unreliable and new product introductions are delayed. For reasons of safety, testing, and access, task performance often requires the vicinity of impacted equipment to be left in a specific “end state” when production halts. Therefore, planning the shutdown of a production system to balance production goals against enabling non-production tasks yields a challenging optimization problem. In this paper, we propose a mathematical formulation of this problem and a dynamic programming approach that efficiently finds optimal shutdown policies for …
An Agent-Based Simulation Approach To Experience Management In Theme Parks, Shih-Fen Cheng, Larry Junjie Lin, Jiali Du, Hoong Chuin Lau, Pradeep Reddy Varakantham
An Agent-Based Simulation Approach To Experience Management In Theme Parks, Shih-Fen Cheng, Larry Junjie Lin, Jiali Du, Hoong Chuin Lau, Pradeep Reddy Varakantham
Research Collection School Of Computing and Information Systems
In this paper, we illustrate how massive agent-based simulation can be used to investigate an exciting new application domain of experience management in theme parks, which covers topics like congestion control, incentive design, and revenue management. Since all visitors are heterogeneous and self-interested, we argue that a high-quality agent-based simulation is necessary for studying various problems related to experience management. As in most agent-base simulations, a sound understanding of micro-level behaviors is essential to construct high-quality models. To achieve this, we designed and conducted a first-of-its-kind real-world experiment that helps us understand how typical visitors behave in a theme-park environment. …
“Network-Theoretic” Queuing Delay Estimation In Theme Park Attractions, Ajay Aravamudhan, Archan Misra, Hoong Chuin Lau
“Network-Theoretic” Queuing Delay Estimation In Theme Park Attractions, Ajay Aravamudhan, Archan Misra, Hoong Chuin Lau
Research Collection School Of Computing and Information Systems
Queuing is a common phenomenon in theme parks which negatively affects visitor experience and revenue yields. There is thus a need for park operators to infer the real queuing delays without expensive investment in human effort or complex tracking infrastructure. In this paper, we depart from the classical queuing theory approach and provide a data-driven and online approach for estimating the time-varying queuing delays experienced at different attractions in a theme park. This work is novel in that it relies purely on empirical observations of the entry time of individual visitors at different attractions, and also accommodates the reality that …
Riskvis: Supply Chain Visualization With Risk Management And Real-Time Monitoring, Rick S. M. Goh, Zhaoxia Wang, Xiaofeng Yin, Xiuju Fu, Loganathan Ponnanbalam, Sifei Lu, Xiaorong Li
Riskvis: Supply Chain Visualization With Risk Management And Real-Time Monitoring, Rick S. M. Goh, Zhaoxia Wang, Xiaofeng Yin, Xiuju Fu, Loganathan Ponnanbalam, Sifei Lu, Xiaorong Li
Research Collection School Of Computing and Information Systems
With increased complexity, supply chain networks (SCNs) of modern era face higher risks and lower efficiency due to limited visibility. Hence, there is an immediate need to provide end-to-end supply chain visibility for efficient management of complex supply chains. This paper proposes a visualization scheme based on multi-hierarchical modular design and develops a supply chain visualization platform with risk management and real-time monitoring, named RiskVis, for realizing better Supply Chain Risk Management (SCRM). A Supply Chain Visualizer (SCV) with a graphical visualization platform is mounted as a part of a SCRM management decision-making dashboard and it provides senior management a …
Improving Patient Length-Of-Stay In Emergency Department Through Dynamic Resource Allocation Policies, Kar Way Tan, Wei Hao Tan, Hoong Chuin Lau
Improving Patient Length-Of-Stay In Emergency Department Through Dynamic Resource Allocation Policies, Kar Way Tan, Wei Hao Tan, Hoong Chuin Lau
Research Collection School Of Computing and Information Systems
In this work, we consider the problem of allocating doctors in the ambulatory area of a hospital's emergency department (ED) based on a set of policies. Traditional staffing methods are static, hence do not react well to surges in patient demands. We study strategies that intelligently adjust the number of doctors based on current and historical information about the patient arrival. Our main contribution is our proposed data-driven online approach that performs adaptive allocation by utilizing historical as well as current arrivals by running symbiotic simulation in real-time. We build a simulation prototype that models ED process that is close …
A Multi-Objective Memetic Algorithm For Vehicle Resource Allocation In Sustainable Transportation Planning, Hoong Chuin Lau, Lucas Agussurja, Shih-Fen Cheng, Pang Jin Tan
A Multi-Objective Memetic Algorithm For Vehicle Resource Allocation In Sustainable Transportation Planning, Hoong Chuin Lau, Lucas Agussurja, Shih-Fen Cheng, Pang Jin Tan
Research Collection School Of Computing and Information Systems
Sustainable supply chain management has been an increasingly important topic of research in recent years. At the strategic level, there are computational models which study supply and distribution networks with environmental considerations. At the operational level, there are, for example, routing and scheduling models which are constrained by carbon emissions. Our paper explores work in tactical planning with regards to vehicle resource allocation from distribution centers to customer locations in a multi-echelon logistics network. We formulate the bi-objective optimization problem exactly and design a memetic algorithm to efficiently derive an approximate Pareto front. We illustrate the applicability of our approach …
Interacting Knapsack Problem In Designing Resource Bundles, Truong Huy D. Nguyen, Pradeep Reddy Varakantham, Hoong Chuin Lau, Shih-Fen Cheng
Interacting Knapsack Problem In Designing Resource Bundles, Truong Huy D. Nguyen, Pradeep Reddy Varakantham, Hoong Chuin Lau, Shih-Fen Cheng
Research Collection School Of Computing and Information Systems
In many real-life businesses, the service provider/seller keeps a log of the visitors’ behavior as a way to assess the efficiency of the current business/operation model and find room for improvement. For example, by tracking when visitors entering attractions in a theme park, theme park owners can detect when and where congestion may occur, thus having contingency plans to reroute the visitors accordingly. Similarly, a Cable TV service provider can track channel switching events at each household to identify uninteresting channels. Subsequently, the repertoire of channels up for subscription can evolve over time to better serve the entertainment demand of …
Demand Forecasting Using A Growth Model And Negative Binomial Regression Framework, Cally Yeru Ong, Murphy Choy, Michelle L. F. Cheong
Demand Forecasting Using A Growth Model And Negative Binomial Regression Framework, Cally Yeru Ong, Murphy Choy, Michelle L. F. Cheong
Research Collection School Of Computing and Information Systems
In this paper, we look at demand forecasting by using a growth model and negative binomial regression framework. Using cumulative sales, we model the sales data for different wristwatch brands and relate it to their sales and growth characteristics. We apply clustering to determine the distinctive characteristics of each individual cluster. Four different growth models are applied to the clusters to find the most suitable growth model to be used. After determining the appropriate growth model to be applied, we then forecast the sales by applying the model to new products being launched in the market and continue to monitor …
Implementation Of Slowly Changing Dimension To Data Warehouse To Manage Marketing Campaigns In Banks, Lihui Wang, Junyu Choy, Michelle L. F. Cheong
Implementation Of Slowly Changing Dimension To Data Warehouse To Manage Marketing Campaigns In Banks, Lihui Wang, Junyu Choy, Michelle L. F. Cheong
Research Collection School Of Computing and Information Systems
Management of updating and recording campaign leads in data warehouse of any banking environment is complex especially with multiple campaigns are active simultaneously. As a way to avoid overly contacting customers for sales-based marketing contacts, the concept of Recency Frame is introduced to “lock” the customers who are targeted in Sales-based campaign for a specified time period. During this Recency Frame, the customer cannot be targeted by other Sales-based campaign under the same channel. This approach increased the difficulties of managing the customers’ data with proper data updating and storing and procedures have to be placed and made sufficiently robust …
Tesla: An Energy-Saving Agent That Leverages Schedule Flexibility, Jun Young Kwak, Pradeep Varakantham, Rajiv Maheswaran, Burcin Becerik-Gerber, Milind Tambe
Tesla: An Energy-Saving Agent That Leverages Schedule Flexibility, Jun Young Kwak, Pradeep Varakantham, Rajiv Maheswaran, Burcin Becerik-Gerber, Milind Tambe
Research Collection School Of Computing and Information Systems
This innovative application paper presents TESLA, an agent-based application for optimizing the energy use in commercial buildings. TESLA’s key insight is that adding flexibility to event/meeting schedules can lead to significant energy savings. TESLA provides three key contributions: (i) three online scheduling algorithms that consider flexibility of people’s preferences for energyefficient scheduling of incrementally/dynamically arriving meetings and events; (ii) an algorithm to effectively identify key meetings that lead to significant energy savings by adjusting their flexibility; and (iii) surveys of real users that indicate that TESLA’s assumptions exist in practice. TESLA was evaluated on data of over 110,000 meetings held …
Regret Based Robust Solutions For Uncertain Markov Decision Processes, Asrar Ahmed, Pradeep Reddy Varakantham, Yossiri Adulyasak, Patrick Jaillet
Regret Based Robust Solutions For Uncertain Markov Decision Processes, Asrar Ahmed, Pradeep Reddy Varakantham, Yossiri Adulyasak, Patrick Jaillet
Research Collection School Of Computing and Information Systems
In this paper, we seek robust policies for uncertain Markov Decision Processes (MDPs). Most robust optimization approaches for these problems have focussed on the computation of maximin policies which maximize the value corresponding to the worst realization of the uncertainty. Recent work has proposed minimax regret as a suitable alternative to the maximin objective for robust optimization. However, existing algorithms for handling minimax regret are restricted to models with uncertainty over rewards only. We provide algorithms that employ sampling to improve across multiple dimensions: (a) Handle uncertainties over both transition and reward models; (b) Dependence of model uncertainties across state, …
Uncertain Congestion Games With Assorted Human Agent Populations , Pradeep Reddy Varakantham, Asrar Ahmed, Shih-Fen Cheng
Uncertain Congestion Games With Assorted Human Agent Populations , Pradeep Reddy Varakantham, Asrar Ahmed, Shih-Fen Cheng
Research Collection School Of Computing and Information Systems
Congestion games model a wide variety of real-world resource congestion problems, such as selfish network routing, traffic route guidance in congested areas, taxi fleet optimization and crowd movement in busy areas. However, existing research in congestion games assumes: (a) deterministic movement of agents between resources; and (b) perfect rationality (i.e. maximizing their own expected value) of all agents. Such assumptions are not reasonable in dynamic domains where decision support has to be provided to humans. For instance, in optimizing the performance of a taxi fleet serving a city, movement of taxis can be involuntary or nondeterministic (decided by the specific …
Decision Support For Assorted Populations In Uncertain And Congested Environments, Pradeep Reddy Varakantham, Asrar Ahmed, Shih-Fen Cheng
Decision Support For Assorted Populations In Uncertain And Congested Environments, Pradeep Reddy Varakantham, Asrar Ahmed, Shih-Fen Cheng
Research Collection School Of Computing and Information Systems
This research is motivated by large scale problems in urban transportation and labor mobility where there is congestion for resources and uncertainty in movement. In such domains, even though the individual agents do not have an identity of their own and do not explicitly interact with other agents, they effect other agents. While there has been much research in handling such implicit effects, it has primarily assumed deterministic movements of agents. We address the issue of decision support for individual agents that are identical and have involuntary movements in dynamic environments. For instance, in a taxi fleet serving a city, …
Automated Parameter Tuning Framework For Heterogeneous And Large Instances: Case Study In Quadratic Assignment Problem, Linda Lindawati, Zhi Yuan, Hoong Chuin Lau, Feida Zhu
Automated Parameter Tuning Framework For Heterogeneous And Large Instances: Case Study In Quadratic Assignment Problem, Linda Lindawati, Zhi Yuan, Hoong Chuin Lau, Feida Zhu
Research Collection School Of Computing and Information Systems
This paper is concerned with automated tuning of parameters of algorithms to handle heterogeneous and large instances. We propose an automated parameter tuning framework with the capability to provide instance-specific parameter configurations. We report preliminary results on the Quadratic Assignment Problem (QAP) and show that our framework provides a significant improvement on solutions qualities with much smaller tuning computational time.
Knowledge-Driven Autonomous Commodity Trading Advisor, Yee Pin Lim, Shih-Fen Cheng
Knowledge-Driven Autonomous Commodity Trading Advisor, Yee Pin Lim, Shih-Fen Cheng
Research Collection School Of Computing and Information Systems
The myth that financial trading is an art has been mostly destroyed in the recent decade due to the proliferation of algorithmic trading. In equity markets, algorithmic trading has already bypass human traders in terms of traded volume. This trend seems to be irreversible, and other asset classes are also quickly becoming dominated by the machine traders. However, for asset that requires deeper understanding of physicality, like the trading of commodities, human traders still have significant edge over machines. The primary advantage of human traders in such market is the qualitative expert knowledge that requires traders to consider not just …
Bidder Behaviors In Repeated B2b Procurement Auctions, Jong Han Park, Jae Kyu Lee, Hoong Chuin Lau
Bidder Behaviors In Repeated B2b Procurement Auctions, Jong Han Park, Jae Kyu Lee, Hoong Chuin Lau
Research Collection School Of Computing and Information Systems
B2B auctions play a key role in a firm's procurement process. Even though it is known that repetition is a key characteristic of procurement auctions, traditional auctioneers typically have not put in place a suitable mechanism that supports repetitive auctions effectively. In this paper, we empirically investigate what has taken place in repeated procurement auctions based on real world data from a major outsourcing company of MRO (Maintenance, Repair and Operations) items in Korea. From this empirical study, we discovered the followings. First, we discovered that the repeated bidders contribute majority of all bids, and that the number of new …
Decision Support For Agent Populations In Uncertain And Congested Environments, Pradeep Reddy Varakantham, Shih-Fen Cheng, Geoff Gordon, Asrar Ahmed
Decision Support For Agent Populations In Uncertain And Congested Environments, Pradeep Reddy Varakantham, Shih-Fen Cheng, Geoff Gordon, Asrar Ahmed
Research Collection School Of Computing and Information Systems
This research is motivated by large scale problems in urban transportation and labor mobility where there is congestion for resources and uncertainty in movement. In such domains, even though the individual agents do not have an identity of their own and do not explicitly interact with other agents, they effect other agents. While there has been much research in handling such implicit effects, it has primarily assumed deterministic movements of agents. We address the issue of decision support for individual agents that are identical and have involuntary movements in dynamic environments. For instance, in a taxi fleet serving a city, …