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Full-Text Articles in Business
Generating A Random Collection Of Discrete Joint Probability Distributions Subject To Partial Information, Luis V. Montiel, J. Eric Bickel
Generating A Random Collection Of Discrete Joint Probability Distributions Subject To Partial Information, Luis V. Montiel, J. Eric Bickel
Eric Bickel
In this paper, we develop a practical and flexible methodology for generating a random collection of discrete joint probability distributions, subject to a specified information set, which can be expressed as a set of linear constraints (e.g., marginal assessments, moments, or pairwise correlations). Our approach begins with the construction of a polytope using this set of linear constraints. This polytope defines the set of all joint distributions that match the given information; we refer to this set as the “truth set.”We then implement aMonte Carlo procedure, the Hit-and- Run algorithm, to sample points uniformly from the truth set. Each sampled …
Rfid-Enabled Inventory Control Optimization: A Proof Of Concept In A Small-To-Medium Retailer, H. Dane, Katina Michael, S. F. Wamba
Rfid-Enabled Inventory Control Optimization: A Proof Of Concept In A Small-To-Medium Retailer, H. Dane, Katina Michael, S. F. Wamba
Dr Samuel Fosso Wamba
This study examines the impact of radio-frequency identification (RFID) technology on the inventory control practices of a small-to-medium retailer using a proof of concept (PoC) approach. The exploratory study was conducted using a single case study of a hardware retailer stocking 5000 product lines provided by 110 active suppliers. To analyze the present mode of operation, procedural documents, semi-structured interviews and a participant observation was conducted. The basis for the proof of concept was a future mode of operation using a quasi-experimental design. Results indicate that in a small-to-medium retail environment, RFID technology could act as a loss prevention mechanism, …