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Full-Text Articles in Business
Application Of Customer Lifetime Value Model In Make-To-Order Manufacturing, Oya I. Tukel, Ashutosh Dixit
Application Of Customer Lifetime Value Model In Make-To-Order Manufacturing, Oya I. Tukel, Ashutosh Dixit
Business Faculty Publications
PURPOSE: The applicability of the customer life time value (CLV) concept goes beyond consumer markets. Specifically, the purpose of this paper is to show how a make-to-order manufacturing company in a supply chain can set customer-focus manufacturing strategies using CLV. DESIGN/METHODOLOGY/APPROACH: Data from an integrated steel plant is used to calculate the life time value of customers based on the past value, the potential value, and their loyalty. The past value of a customer is based on the historical data and the future value of a customer is then forecasted. The loyalty index of a customer is determined by survey …
Lead-Time Quotation When Customers Are Sensitive To Reputation, Susan A. Slotnick
Lead-Time Quotation When Customers Are Sensitive To Reputation, Susan A. Slotnick
Business Faculty Publications
Firms consider a variety of factors when making lead-time promises, including current shop status and the size of the incoming order. The profit-maximising model presented in this paper is the first to include reputation effects explicitly in a lend-time optimisation model. Reputation is considered to be the lasting effect on the market of a firm's delivery performance over time, and so it affects the future as well as the current profits. The model is complicated, and a counter-example demonstrates that qualitative monotonicity results are not obtainable. A computational study explores the relationships between shop status, order size, reputation, market characteristics …
Knowledge-Salvage Practices For Dormant R&D Projects, Oya I. Tukel, Tibor Kremic, Walter O. Rom, Richard J. Miller
Knowledge-Salvage Practices For Dormant R&D Projects, Oya I. Tukel, Tibor Kremic, Walter O. Rom, Richard J. Miller
Business Faculty Publications
Most successful firms have an abundance of new and old knowledge in their research and development laboratories, and only a fraction is being put into use in new product development. This knowledge is left over from projects that have been killed at different development stages and may actually carry considerable value. In this article, we propose a knowledge bank as a possible solution to preserve and possibly grow this knowledge. It is a self-sustaining institute with minimal or no ongoing effort from the donor company, yet manages the knowledge in a way that protects proprietary interests and actively fosters communication …
Order Acceptance And Scheduling: A Taxonomy And Review, Susan A. Slotnick
Order Acceptance And Scheduling: A Taxonomy And Review, Susan A. Slotnick
Business Faculty Publications
Over the past 20 years, the topic of order acceptance has attracted considerable attention from those who study scheduling and those who practice it. In a firm that strives to align its functions so that profit is maximized, the coordination of capacity with demand may require that business sometimes be turned away. In particular, there is a trade-off between the revenue brought in by a particular order, and all of its associated costs of processing. The present study focuses on the body of research that approaches this trade-off by considering two decisions: which orders to accept for processing, and how …
Making Sense Of Supply Disruption Risk Research: A Conceptual Framework Grounded In Enactment Theory, Scott C. Ellis, Jeff Shockley, Raymond M. Henry
Making Sense Of Supply Disruption Risk Research: A Conceptual Framework Grounded In Enactment Theory, Scott C. Ellis, Jeff Shockley, Raymond M. Henry
Business Faculty Publications
The rich stream of supply disruption risk (SDR) literature incorporates several different theories and constructs across studies, but lacks a unifying decision-making framework. We review 79 SDR studies and advance a comprehensive framework, grounded in enactment theory, which integrates the disparate elements of SDR research and offers new insights into the SDR decision-making process. Enactment theory posits a three-stage, closed-loop process, consisting of enactment, selection and retention, through which individuals process and make sense of equivocal environments. We suggest that this sense-making process also underlies SDR decision-making, and provides the theoretical underpinnings for the environmental, organizational and individual factors that …
Optimal And Heuristic Lead-Time Quotation For An Integrated Steel Mill With A Minimum Batch Size, Susan A. Slotnick
Optimal And Heuristic Lead-Time Quotation For An Integrated Steel Mill With A Minimum Batch Size, Susan A. Slotnick
Business Faculty Publications
This paper presents a model of lead-time policies for a production system, such as an integrated steel mill, in which the bottleneck process requires a minimum batch size. An accurate understanding of internal lead-time quotations is necessary for making good customer delivery-date promises, which must take into account processing time, queueing time and time for arrival of the requisite volume of orders to complete the minimum batch size requirement. The problem is modeled as a stochastic dynamic program with a large state space. A computational study demonstrates that lead time for an arriving order should generally be a decreasing function …
Buyer Perceptions Of Supply Disruption Risk: A Behavioral View And Empirical Assessment, Scott C. Ellis, Raymond M. Henry, Jeff Shockley
Buyer Perceptions Of Supply Disruption Risk: A Behavioral View And Empirical Assessment, Scott C. Ellis, Raymond M. Henry, Jeff Shockley
Business Faculty Publications
As supply chains become more complex, firms face increasing risks of supply disruptions. The process through which buyers make decisions in the face of these risks, however, has not been explored. Despite research highlighting the importance of behavioral approaches to risk, there is limited research that applies these views of risk in the supply chain literature. This paper addresses this gap by drawing on behavioral risk theory to investigate the causal relationships amongst situation, representations of risk, and decision-making within the purchasing domain. We operationalize and explore the relationship between three representations of supply disruption risk: magnitude of supply disruption, …