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Operations Research, Systems Engineering and Industrial Engineering Commons™
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- Keyword
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- Closed-loop supply chain (CLSC) (3)
- Remanufacturing (3)
- Reverse logistics (3)
- Reverse logistics (RL) (3)
- Closed loop supply chain (2)
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- Lagrangian relaxation (2)
- Mixed-integer linear programming (MILP) (2)
- Simulation (2)
- Supply chain management (2)
- Uncertain demand (2)
- Uncertain return (2)
- Uncertainty (2)
- Agent-based simulation (1)
- Analysis trees (mathematics) (1)
- Artificial Variable;Capacitated Lot Sizing;Dantzig-Wolfe decomposition;Emission control;Multi-level capacitated lot-sizing (1)
- Artificial intelligence (1)
- Balancing line (1)
- Bio-signals (1)
- Biomass (1)
- Capacitated lot-sizing (1)
- Carpal tunnel syndrome (1)
- Cell phone remanufacturing/recycling (1)
- Co-firing (1)
- Cost Benefit Analysis;Covid 19;Manufacturing Business;Ontario;PPE;Revenue Volatility (1)
- Design of experiments (1)
- Developing WMSDs (1)
- Digital simulation (1)
- Dual channel (1)
- Dual-channel warehouse (1)
- Electric vehicles (1)
- Publication Year
- Publication
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Articles 1 - 30 of 30
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Development Of A High-Level Discrete Event Simulation Model For The Harvesting Of White Button Mushrooms With Human-Robot Collaboration (Hrc), Ava Recchia
Electronic Theses and Dissertations
Canada is a leading global mushroom producer, with the white button mushroom (Agaricus bisporus) being the most popular type produced. Harvesting activities are labour-intensive, and farms are currently experiencing labour shortages, which are impacting productivity, growth, and overall revenue. Robotic technologies are valid mechanisms for mushroom harvesting and demonstrate a potential to reduce this gap. Examining the performance of a harvesting system with different robotics scenarios, such as manual, robotics automation, and human robot collaboration (HRC) is crucial to realizing this potential. Simulation models are useful tools for testing and assessing systems without making any physical change to the system. …
Applying Functional Data Analysis To Estimate The Mental Workload Of The Human Driver, David Olorunfemi Eniyandunmo
Applying Functional Data Analysis To Estimate The Mental Workload Of The Human Driver, David Olorunfemi Eniyandunmo
Electronic Theses and Dissertations
Recent studies have focused on accurately estimating mental workload using machine learning algorithms and extracting features from psycho-physiological measures. However, feature extraction leads to the loss of valuable information and often results in binary classifications that lack specificity in the identification of optimum mental workload levels. This study investigates the feasibility of using raw psycho-physiological data (EEG, facial EMG, ECG, EDA, pupillometry) combined with Functional Data Analysis (FDA) to estimate mental workload of human drivers. A driving scenario with five tasks was employed, and subjective ratings were collected using the modified Bedford workload scale. Results demonstrate that the FDA applied …
Multi-Period, Multi-Platform Design And Lot-Sizing For Hybrid Manufacturing Considering Stochastic Demand And Processing Time, Md Sadman Sakib
Multi-Period, Multi-Platform Design And Lot-Sizing For Hybrid Manufacturing Considering Stochastic Demand And Processing Time, Md Sadman Sakib
Electronic Theses and Dissertations
During the era of digitalization, customer demand has become more customized than before. For this reason, the variety of products is increasing rapidly. Manufacturing industries are experiencing extraordinary challenges due to frequent updates of customer requirements. Now the manufacturers are focusing more on mass customization than mass production to keep pace with this situation, however, managing variety using the make-to-stock strategy increases holding costs, and the make-to-order strategy increases lead time. Moreover, uncertainty in demand is making mass customization more challenging. Though hybrid manufacturing is a promising concept for variety management, very few works consider stochastic demand. The concept of …
Improvement To An Existing Multi-Level Capacitated Lot Sizing Problem With Setup Carryover, Backlogging, And Emission Control, Rifat Bin Hasan
Improvement To An Existing Multi-Level Capacitated Lot Sizing Problem With Setup Carryover, Backlogging, And Emission Control, Rifat Bin Hasan
Electronic Theses and Dissertations
This paper presents a multi-level, multi-item, multi-period capacitated lot-sizing problem. The lot-sizing problem studies can obtain production quantities, setup decisions, and inventory levels in each period fulfilling the demand requirements with limited capacity resources, considering the Bill of Material (B.O.M.) structure while simultaneously minimizing the production, inventory, and machine setup costs. The paper proposes an exact solution to Chowdhury et al. (2018)'s[1] developed model, which considers the backlogging cost, setup carryover & greenhouse gas emission control to its model complexity. The problem contemplates the Dantzig-Wolfe (D.W.) decomposition to decompose the multi-level capacitated problem into a single-item uncapacitated lot-sizing sub-problem. To …
Investigating The Financial Implications Of Converting Manufacturing From Existing Portfolio To Ppe Products During Covid-19 For Canadian Manufacturing Companies, Varun Charavanan
Investigating The Financial Implications Of Converting Manufacturing From Existing Portfolio To Ppe Products During Covid-19 For Canadian Manufacturing Companies, Varun Charavanan
Electronic Theses and Dissertations
For the past three years, we have witnessed the effects that a disruptive event like COVID-19 can have on the industrial sector as well as the effects that have so far been felt throughout the world's supply chain. When the pandemic first began, sales of PPE products increased, which led to a shortage of PPE products in Canada due to supply chain disruptions and limited PPE product production in Canada. So, the Canadian government began importing PPE goods. This incident highlights the need for local production in Canada as many people were unable to afford PPE in time. Due to …
Smart Manufacturing Execution System Framework For Small And Medium-Size Enterprises, Mohamed Mahmoud Masoud
Smart Manufacturing Execution System Framework For Small And Medium-Size Enterprises, Mohamed Mahmoud Masoud
Electronic Theses and Dissertations
In today's manufacturing scene, Small and Medium-sized Enterprises (SMEs) face the challenge of adapting to rapidly evolving technologies to remain competitive. Manufacturing Execution Systems (MES) play a vital role in managing this transformation by systematically overseeing production processes. While Industry 4.0 has already established widely accepted automation techniques, Industry 5.0 presents further innovative advancements to enhance manufacturing. However, there is a scarcity of research on applying Industry 5.0. This thesis addresses this research gap by developing an Industry 5.0-based MES framework, specifically designed for SMEs. A systematic approach to implementing the framework is presented, starting with an analysis of common …
Development Of An Ergonomic Desk And Support For Optimal Keyboard Angle In The Sitting And Standing Workstation, Victor Eghujovbo
Development Of An Ergonomic Desk And Support For Optimal Keyboard Angle In The Sitting And Standing Workstation, Victor Eghujovbo
Electronic Theses and Dissertations
With the proliferation of computers in homes and workplaces, the keyboard has become an integral part of our daily lives, and it is difficult to imagine using a computer without one. Given the high prevalence of WMSDs among computer users and the growing global computer workforce, concerns exist about the escalation of computer related injury with Carpal tunnel syndrome (CTS) being one of the most reported WMSDs among office workers. The forceful and repetitive movements of the hand and wrist, prolonged use of the hand and wrist and a non-neutral or awkward wrist posture (where there is a migration from …
Smart Supply Chain Management In Industry 4.0, Guoqing Zhang, Yiqin Yang, Guoqing Yang
Smart Supply Chain Management In Industry 4.0, Guoqing Zhang, Yiqin Yang, Guoqing Yang
Industrial and Manufacturing Systems Engineering Publications
The emerging information and communication technologies (ICT) related to Industry 4.0 play a critical role to enhance supply chain performance. Employing the smart technologies has led to so-called smart supply chains. Understanding how Industry 4.0 and related ICT affect smart supply chains and how smart supply chains evolve with the support of the advanced technologies are vital to practical and academic communities. Existing review works on smart supply chains with ICT mainly rely on the academic literature alone. This paper presents an integrated approach to explore the effects of Industry 4.0 and related ICT on smart supply chains, by combining …
System Reconfiguration For Reverse Logistics: A Case Study, Oritsegbubemi Omatseye
System Reconfiguration For Reverse Logistics: A Case Study, Oritsegbubemi Omatseye
Major Papers
With climate change becoming very concerning in the world today, reverse logistics has become important for several companies with respect to regaining the value of their products and/ or for proper disposal or recycling of returned products. The reverse logistics framework in this paper is inspired by research papers in the literature; reverse logistics plays an important role in the return and the remanufacturing processes of products to meet specific demands.
Manufacturers face an increased flow of returned products in their system; hence, they need to effectively address the flow of returned products in their system and the challenges that …
Human-Machine Collaboration In Healthcare Innovation, Breeze Fenton
Human-Machine Collaboration In Healthcare Innovation, Breeze Fenton
Electronic Theses and Dissertations
Almost every individual has visited a healthcare institute, whether for an annual checkup, surgery, or a nursing home. Ensuring healthcare institutes are using human-machine collaboration systems correctly can improve daily operations. A maturity assessment and an implementation plan have been developed to help healthcare institutes monitor the human-machine collaboration systems. A maturity model, the Smart Maturity Model for Health Care (SMMHC), is a tool designed for maturity assessment. A four-step implementation plan was also created in this research. The implementation plan views the maturity of the institute and develops a strategy on how to improve it. The research utilized Integrated …
Work Order And Subassembly Identification And Tracking System, Israa El-Sabbagh
Work Order And Subassembly Identification And Tracking System, Israa El-Sabbagh
Electronic Theses and Dissertations
The research encompassed in this thesis includes the development of a work order and subassembly identification and tracking software system created in-house and tested at SPM Automation (Canada) Inc. The research is motivated by the significant losses the company is enduring and the recurring problems occurring at the facility (i.e., excess inventory, late ordering, reordering, misplaced components, etc.). These problems are critical in the progress and profits of the company.
An extensive literature review was completed, and the research gaps were presented. The optimal work order and subassembly process was created using Process Mapping Methodology, Cause-and-Effect Diagrams, and 5Why Analysis. …
Energy Supply Chain Of Co-Firing System To Generate Electricity, Abinash Panda
Energy Supply Chain Of Co-Firing System To Generate Electricity, Abinash Panda
Major Papers
The problem of air pollution on the streets of the national capital of India, New Delhi is a major concern. Majority of the pollutants are generally originated from either the vehicles on the roads or the burning of crops from the neighbouring states of the National Capital Region (NCR). To improve the condition of the air quality by the vehicles, implementation of the Electric Vehicles (EVs) in an energy supply chain is a suitable plan. The objective of this paper is to plan a supply chain of generation of electricity by the process of co-firing that prompts benefits both in …
Analysis Of A Garment-Oriented Textile Recycling System Via Simulation Approach, Reyhaneh Yavari
Analysis Of A Garment-Oriented Textile Recycling System Via Simulation Approach, Reyhaneh Yavari
Major Papers
The textile industry is one of the polluting industries on the planet. Public awareness has increased manufacturers responsibility and forced them to shift from linear to the circular production line to reduce the amount of environmental impact such as; energy and freshwater consumption, toxic and fertilizer usage and cutting down the use of raw material. Also, some new business strategies like fast fashion which is a recent trend in the fashion industry by offering fast changing trend and inexpensive designs accelerate the process of purchasing new clothes that end up in landfills. Recycling, remanufacturing and reusing are some practices that …
Pricing Policies For A Dual-Channel Retailer With Cross-Channel Returns, Mohannad Hassan Radhi, Guoqing Zhang
Pricing Policies For A Dual-Channel Retailer With Cross-Channel Returns, Mohannad Hassan Radhi, Guoqing Zhang
Mechanical, Automotive & Materials Engineering Publications
Many retailers are adopting a dual-channel retailing strategy (DCRS) in which products are offered through two channels: physical stores and online stores. Due to regulations or competitive measures, such a strategy allows customers who find a purchase unsatisfactory to obtain a full refund through a same-channel return or a cross-channel return. No papers have collectively studied the aforementioned types of customer returns in a dual-channel context. This paper studies optimal pricing policies for a centralized and decentralized dual-channel retailer (DCR) with same- and cross-channel returns. How dual-channel pricing behavior is impacted by customer preference and rates of customer returns is …
Dual-Channel Warehouse And Inventory Management With Stochastic Demand, Fawzat Alawneh, Guoqing Zhang
Dual-Channel Warehouse And Inventory Management With Stochastic Demand, Fawzat Alawneh, Guoqing Zhang
Mechanical, Automotive & Materials Engineering Publications
This study examines the inventory policy for the emerging dual-channel warehouse, which has a unique structure where the warehouse is divided into two areas: one for fulfilling online orders and the other for storing products and fulfilling offline orders. A multi-item inventory model was developed considering the warehouse capacity constraint, demand, and lead time uncertainty. Solution methods are provided for both uniform and normal distributions. Adopting the proposed inventory policy for a dual warehouse is cost effective and adds flexibility to the warehouse and supply chain. The study also offers managerial insights on some critical issues faced by companies operating …
Performance Evaluation Of Reverse Logistics Enterprise – An Agent-Based Simulation Approach, Gowtham Ravi Sankara Pandian, Walid Abdul-Kader
Performance Evaluation Of Reverse Logistics Enterprise – An Agent-Based Simulation Approach, Gowtham Ravi Sankara Pandian, Walid Abdul-Kader
Industrial and Manufacturing Systems Engineering Publications
Reverse logistics (RL) has been applied in many industries and sectors since its conception. Unlike forward logistics, retracing consumer goods from the point of consumption to the point of inception is not a well-studied process. It involves many uncertainties such as time, quality and quantity of returns. The returned products can be remanufactured, have parts harvested, or be disposed safely. It is important to implement these activities in a cost-effective manner. The aim of this research is to measure the performance of the RL enterprise with the help of an agent-based simulation model. The major entities in the RL network …
Three-Dimensional Container Loading: A Simulated Annealing Approach, Hanan Mostaghimi Ghomi, Bryan Gary St. Amour, Walid Abdul-Kader
Three-Dimensional Container Loading: A Simulated Annealing Approach, Hanan Mostaghimi Ghomi, Bryan Gary St. Amour, Walid Abdul-Kader
Industrial and Manufacturing Systems Engineering Publications
High utilization of cargo volume is an essential factor in the success of modern enterprises in the market. Although mathematical models have been presented for container loading problems in the literature, there is still a lack of studies that consider practical constraints. In this paper, a Mixed Integer Linear Programming is developed for the problem of packing a subset of rectangular boxes inside a container such that the total value of the packed boxes is maximized while some realistic constraints, such as vertical stability, are considered. The packing is orthogonal, and the boxes can be freely rotated into any of …
Optimal Disposition Decisions For A Remanufacturing System Considering Time Value Of Products, Mostafa Pazoki, Walid Abdul-Kader
Optimal Disposition Decisions For A Remanufacturing System Considering Time Value Of Products, Mostafa Pazoki, Walid Abdul-Kader
Industrial and Manufacturing Systems Engineering Publications
This paper studies disposition decisions of cores where the value of returns deteriorates over time. Mainly in disposition decisions, a remanufacturer is interested to determine how many units to remanufacture and to salvage. To address this research problem along with value deterioration of returns, a rough-cut mathematical model is developed by considering various parameters of interest such as selling price, salvage value and remanufacturing rate with the aim to maximize total profit. Due to uncertainty limitations, the model can provide decision-makers with relevant insights about disposition decisions. Simulation modeling techniques are used to validate the proposed model. Numerical examples are …
An Integrated Strategy For A Production Planning And Warehouse Layout Problem: Modeling And Solution Approaches, Guoqing Zhang, Tatsushi Nishi, Sarina D. O. Turner, Keisuke Oga, Xindan Li
An Integrated Strategy For A Production Planning And Warehouse Layout Problem: Modeling And Solution Approaches, Guoqing Zhang, Tatsushi Nishi, Sarina D. O. Turner, Keisuke Oga, Xindan Li
Mechanical, Automotive & Materials Engineering Publications
We study a real-world production warehousing case, where the company always faces the challenge to find available space for their products and to manage the items in the warehouse. To resolve the problem, an integrated strategy that combines warehouse layout with the capacitated lot-sizing problem is presented, which have been traditionally treated separately in the existing literature. We develop a mixed integer linear programming model to formulate the integrated optimization problem with the objective of minimizing the total cost of production and warehouse operations. The problem with real data is a large-scale instance that is beyond the capability of optimization …
A Multi-Objective Facility Location Model For Closed-Loop Supply Chain Network Under Uncertain Demand And Return, Saman Hassanzadeh Amin, Guoqing Zhang
A Multi-Objective Facility Location Model For Closed-Loop Supply Chain Network Under Uncertain Demand And Return, Saman Hassanzadeh Amin, Guoqing Zhang
Mechanical, Automotive & Materials Engineering Publications
A closed-loop supply chain (CLSC) network consists of both forward and reverse supply chains. In this paper, a CLSC network is investigated which includes multiple plants, collection centres, demand markets, and products. To this aim, a mixed-integer linear programming model is proposed that minimizes the total cost. Besides, two test problems are examined. The model is extended to consider environmental factors by weighed sums and ε-constraint methods. In addition, we investigate the impact of demand and return uncertainties on the network configuration by stochastic programming (scenario-based). Computational results show that the model can handle demand and return uncertainties, simultaneously.
A Three-Stage Model For Closed-Loop Supply Chain Configuration Under Uncertainty, Saman Hassanzadeh Amin, Guoqing Zhang
A Three-Stage Model For Closed-Loop Supply Chain Configuration Under Uncertainty, Saman Hassanzadeh Amin, Guoqing Zhang
Mechanical, Automotive & Materials Engineering Publications
In this paper, a general closed-loop supply chain (CLSC) network is configured which consists of multiple customers, parts, products, suppliers, remanufacturing subcontractors, and refurbishing sites. We propose a three-stage model including evaluation, network configuration, and selection and order allocation. In the first stage, suppliers, remanufacturing subcontractors, and refurbishing sites are evaluated based on a new quality function deployment (QFD) model. The proposed QFD model determines the relationship between customer requirements, part requirements, and process requirements. In addition, the fuzzy sets theory is utilised to overcome the uncertainty in the decision-making process. In the second stage, the closed-loop supply chain network …
A Proposed Mathematical Model For Closed-Loop Network Configuration Based On Product Life Cycle, Saman Hassanzadeh Amin, Guoqing Zhang
A Proposed Mathematical Model For Closed-Loop Network Configuration Based On Product Life Cycle, Saman Hassanzadeh Amin, Guoqing Zhang
Mechanical, Automotive & Materials Engineering Publications
Products may be returned over their life cycle. Industrial experiences show that there are three main return–recovery pairs. Commercial returns are repaired. End-of-use returns often are remanufactured. In addition, end-of-life returns are recycled. However, up to now, no optimization model is proposed for closed-loop configuration based on three return–recovery pairs. The repaired and remanufactured products can be sold in the same or secondary market. In this paper, we design and configure a general closed-loop supply chain network based on product life cycle. The network includes a manufacturer, collection, repair, disassembly, recycling, and disposal sites. The returned products are collected in …
Optimal Production Planning For A Multi-Product Closed Loop System With Uncertain Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha
Optimal Production Planning For A Multi-Product Closed Loop System With Uncertain Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha
Mechanical, Automotive & Materials Engineering Publications
We study the production planning problem for a multi-product closed loop system, in which the manufacturer has two channels for supplying products: producing brand-new products and remanufacturing returns into as-new ones. In the remanufacturing process, used products are bought back and remanufactured into as-new products which are sold together with the brand-new ones. The demands for all the products are uncertain, and their returns are uncertain and price-sensitive. The problem is to maximize the manufacturer's expected profit by jointly determining the production quantities of brand-new products, the quantities of remanufactured products and the acquisition prices of the used products, subject …
Coordinating Production And Recycling Decisions With Stochastic Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha, Saman Hassanzadeh Amin
Coordinating Production And Recycling Decisions With Stochastic Demand And Return, Jianmai Shi, Guoqing Zhang, Jichang Sha, Saman Hassanzadeh Amin
Mechanical, Automotive & Materials Engineering Publications
In this paper, the joint production and recycling problem is investigated for a hybrid manufacturing and remanufacturing system where brand-new products are produced in the manufacturing plant and recycled products are remanufactured into as-new products in the remanufacturing facility. Both the brand-new products and remanufactured products are used to satisfy customer demands. Returns of used products that are recycled from customers are assumed to be stochastic and nonlinearly price-dependent. A mathematical model is proposed to maximize the overall profit of the system through simultaneously optimizing the production and recycling decisions, subject to two capacity constraints — the manufacturing capacity and …
Analysis, Modeling And Imporvement Of Stamped Parts Quality Using Generalized Linear Models, Foad Hassanmirzaei, Zbigniew Pasek
Analysis, Modeling And Imporvement Of Stamped Parts Quality Using Generalized Linear Models, Foad Hassanmirzaei, Zbigniew Pasek
Industrial and Manufacturing Systems Engineering Publications
This paper presents an approach used for improving the visual quality of body panels produced in an automated press shop of a car manufacturer. To solve the complexproblem of panels’ visual defects,the optimal values of process parameters based on Generalized Linear Models (GLZ) were identified and deployed. The project focused on parts exhibiting excessive rejection rates. To deal effectively with the case in which the distribution function representing the number of defects in the panels was found to be binomial with presence of some covariates in the model, the research approach focused on development of Log it Models.
After identifying …
Simulation-Based Verification Of Lean Improvement For Emergency Room Process, Nancy Khurma, Gheorghe M. Bacioiu, Zbigniew J. Pasek
Simulation-Based Verification Of Lean Improvement For Emergency Room Process, Nancy Khurma, Gheorghe M. Bacioiu, Zbigniew J. Pasek
Industrial and Manufacturing Systems Engineering Publications
One of the key challenges to health care access in Canadian hospitals is growing overcrowding of the Emergency Departments (EDs), leading to the medical personnel overload, and the excessive waiting times to receive proper care. These adverse effects directly impact the patient satisfaction levels, the ability of the medical professionals to attend promptly to patients' health issues, and generate unnecessary costs. Addressing the sources of waste and improving the process provides better care and higher patient satisfaction, as well as increases operational efficiency and the ability of the medical professionals to intervene on time. This paper describes an effort aimed …
An Approach To Line Balancing On Virtual Supervisor Induction Method And Intelligent Agents, J. Trujillo, P. Pawlewski, Zbigniew Pasek, P. Golinska, E. Baeyens, J. Oleskov
An Approach To Line Balancing On Virtual Supervisor Induction Method And Intelligent Agents, J. Trujillo, P. Pawlewski, Zbigniew Pasek, P. Golinska, E. Baeyens, J. Oleskov
Industrial and Manufacturing Systems Engineering Publications
This approach develops a method for solving the line-balancing problem, which is based on two stages. The works in a first stage is to identify the task of workstation, the assignment of the tasks to stations on the line and the recognized balance delay. In this stage we propose the induction VS method, which allows further identify the exact position between pieces, machine into a workstation and also between extern workstation, as well as intracellular and intercellular part. This way each task is identified and measured. In the second stage is to carry out a macro-approach to choose the resource …
On-Line Scheduling Method Of Manufacturing System Based On Vs Algorithm For Reference Pattern, J. A. Trujillo, Clemente Cárdenas, Zbigniew Pasek, Enrique Baeyens
On-Line Scheduling Method Of Manufacturing System Based On Vs Algorithm For Reference Pattern, J. A. Trujillo, Clemente Cárdenas, Zbigniew Pasek, Enrique Baeyens
Industrial and Manufacturing Systems Engineering Publications
In this paper, a scheduling method is developed provide planning for manufacturing plants with multiple coordinating cells. The controls for reconfigurable manufacturing systems have to be capable not only of identifying exceptions on-line, but also simultaneously developing on-line strategies for unpredictable customer order changes or inaccurate estimate of processing times. The approach exploits virtual supervisor (VS) concept developing an algorithm which provides access to all system information during program execution and thus can readily monitor the overall system performance creating reference pattern. The goal is to minimize expected costs of part tardiness and/or earliness. A solution methodology based on a …
On-Line Job-Shop Scheduling Of A Manufacturing System Based On A Virtual Supervisor Concept, Jesús Trujillo, Zbigniew Pasek, Enrique Baeyens
On-Line Job-Shop Scheduling Of A Manufacturing System Based On A Virtual Supervisor Concept, Jesús Trujillo, Zbigniew Pasek, Enrique Baeyens
Industrial and Manufacturing Systems Engineering Publications
The controls for reconfigurable manufacturing systems have to be capable not only of identifying exceptions on-line, but also simultaneously developing on-line strategies for unpredictable customer orders or inaccurate estimates of processing times. This paper presents an approach for job-shop scheduling with uncertain arrival times. The approach exploits Virtual Supervisor (VS) concept, which provides access to all system information during program execution and thus can readily monitor the overall system performance. The goal is to minimize expected part tardiness and earliness cost. A solution methodology based on a combined Lagrangian relaxation, VS-Patterns, Maxwell equations and temporal difference is developed to obtain …
A New Methodology To Evaluate The Real Options Of An Investment Using Binomial Trees And Monte Carlo Simulations, Michele Amico, Zbigniew Pasek, Farshid Asl
A New Methodology To Evaluate The Real Options Of An Investment Using Binomial Trees And Monte Carlo Simulations, Michele Amico, Zbigniew Pasek, Farshid Asl
Industrial and Manufacturing Systems Engineering Publications
This paper deals with a new methodology to evaluate the real operating options embedded in a manufacturing system investment. In a single product framework, the demand is assumed as the main source of uncertainty, therefore as a stochastic variable following a geometric brownian motion (GBM). Then, focusing on the real option to expand the capacity at a certain time in the future, we have developed a new approach for the option payoff, looking forward in the time interval from the expansion date to the end of the planning horizon. The payoff function is the expected net present value (NPV), at …