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Articles 1 - 9 of 9
Full-Text Articles in Business
Single Sourcing Versus Multisourcing: The Roles Of Output Verifiability On Task Modularity, Shantanu Bhattacharya, Alok Gupta, Sameer Hasija
Single Sourcing Versus Multisourcing: The Roles Of Output Verifiability On Task Modularity, Shantanu Bhattacharya, Alok Gupta, Sameer Hasija
Research Collection Lee Kong Chian School Of Business
This paper compares two modes for outsourcing the development of information services projects: single-sourcing (where one vendor handles all outsourced activities) and multisourcing (where multiple vendors handle those activities). We assess the relative efficacy of these two outsourcing modes by identifying the effects of three factors: task modularity, the extent of alignment between a (verifiable) performance metric and project revenue, and the extent to which project revenue is itself verifiable. We find that if tasks are modular then multisourcing strictly dominates single-sourcing—provided the verifiable performance metric and project revenue are not completely aligned. Yet if tasks are integrated, then the …
Event-Based Allocation Of Airline Check-In Counters: A Simple Dynamic Optimization Method Supported By Empirical Data, Mahmut Parlar, Brian Rodrigues, Sharafali Moosa
Event-Based Allocation Of Airline Check-In Counters: A Simple Dynamic Optimization Method Supported By Empirical Data, Mahmut Parlar, Brian Rodrigues, Sharafali Moosa
Research Collection Lee Kong Chian School Of Business
This paper studies the real-life problem of dynamically optimizing the number of airport check-in counters to allocate for a single flight. The main feature of our work is the use of empirical data collected at the Singapore Changi Airport, which drives the dynamic optimization model of a parallel queues system. We propose an event-based dynamic programming model that simplifies considerably the optimization analysis even for large-scale problems with 700+ booked passengers. We investigate the following research questions: (a) For a particular flight, what is the optimal number of counters the system should open with and what is the corresponding optimal …
Experience And Signaling Value In Technology Licensing Contract Payment Structures, Reddi Kotha, Pascale Crama, Phillip H. Kim
Experience And Signaling Value In Technology Licensing Contract Payment Structures, Reddi Kotha, Pascale Crama, Phillip H. Kim
Research Collection Lee Kong Chian School Of Business
Whencommercializing technology, the lack of proven results and a reluctance toinvest upfront resources hamper efforts by firms to work jointly with inventorsto bring new discoveries to market. An effective contract payment structure – amix of upfront and royalty payments – can help overcome these hurdles. Weconduct our research in university technology licensing, where licensingmanagers act as intermediaries to unite inventors and licensee firms. Rather than leveraging their experience to bargainfor maximum payments, highly experienced managers offer contractual paymentstructures that trade lower upfront payments for higher royalty payments inorder to signal value. The signal instills confidence in the value of the …
On The Design Of Sparse But Efficient Structures In Operations, Zhenzhen Yan, Sarah Yini Gao, Chung Piaw Teo
On The Design Of Sparse But Efficient Structures In Operations, Zhenzhen Yan, Sarah Yini Gao, Chung Piaw Teo
Research Collection Lee Kong Chian School Of Business
It is widely believed that a little flexibility added at the right place can reap significant benefits for operations. Unfortunately, despite the extensive literature on this topic, we are not aware of any general methodology that can be used to guide managers in designing sparse (i.e., slightly flexible) and yet efficient operations. We address this issue using a distributionally robust approach to model the performance of a stochastic system under different process structures. We use the dual prices obtained from a related conic program to guide managers in the design process. This leads to a general solution methodology for the …
Optimal Stackelberg Strategies For Financing A Supply Chain Through Online Peer-To-Peer Lending, Guang-Xin Gao, Zhi-Ping Fan, Xin Fang, Yun Fong Lim
Optimal Stackelberg Strategies For Financing A Supply Chain Through Online Peer-To-Peer Lending, Guang-Xin Gao, Zhi-Ping Fan, Xin Fang, Yun Fong Lim
Research Collection Lee Kong Chian School Of Business
In recent years, supply chain finance (SCF) through online peer-to-peer (P2P) lending platforms has gained its popularity. We study an SCF system with a manufacturer selling a product to a retailer that faces uncertain demand over a single period. We assume that either the retailer or the manufacturer faces a capital constraint and must borrow capital through an online P2P lending platform. The platform determines a service rate for the loan, the manufacturer sets a wholesale price for the product, and the retailer chooses its order quantity for the product. We identify optimal Stackelberg strategies of the participants in the …
Dynamic Inventory Pooling Policies To Deliver Differentiated Service, Yuanguang Zhong, Zhichao Zheng, Mabel C. Chou, Chung-Piaw Teo
Dynamic Inventory Pooling Policies To Deliver Differentiated Service, Yuanguang Zhong, Zhichao Zheng, Mabel C. Chou, Chung-Piaw Teo
Research Collection Lee Kong Chian School Of Business
Resource pooling strategies have been widely used in industry to match supply with demand. However, effective implementation of these strategies can be challenging. Firms need to integrate the heterogeneous service level requirements of different customers into the pooling model and allocate the resources (inventory or capacity) appropriately in the most effective manner. The traditional analysis of inventory pooling, for instance, considers the performance metric in a centralized system and does not address the associated issue of inventory allocation. Using Blackwell’s Approachability Theorem, we derive a set of necessary and sufficient conditions to relate the fill rate requirement of each customer …
Quadratic Two-Stage Stochastic Optimization With Coherent Measures Of Risk, Jie Sun, Li-Zhi Liao, Brian Rodrigues
Quadratic Two-Stage Stochastic Optimization With Coherent Measures Of Risk, Jie Sun, Li-Zhi Liao, Brian Rodrigues
Research Collection Lee Kong Chian School Of Business
A new scheme to cope with two-stage stochastic optimization problems uses a risk measure as the objective function of the recourse action, where the risk measure is defined as the worst-case expected values over a set of constrained distributions. This paper develops an approach to deal with the case where both the first and second stage objective functions are convex linear-quadratic. It is shown that under a standard set of regularity assumptions, this two-stage quadratic stochastic optimization problem with measures of risk is equivalent to a conic optimization problem that can be solved in polynomial time.
Constrained Dual Representation Of Coherent Risk Measures, Marcus Ang, Jie Sun, Qiang Yao
Constrained Dual Representation Of Coherent Risk Measures, Marcus Ang, Jie Sun, Qiang Yao
Research Collection Lee Kong Chian School Of Business
A classical result in risk measure theory states that every coherent risk measure has a dual representation as the supremum of certain expected value over a risk envelope. We study this topic in more detail. The related issues include: (1) Set operations of risk envelopes and how they change the risk measures, (2) The structure of risk envelopes of popular risk measures, (3) Aversity of risk measures and its impact to risk envelopes, and (4) A connection between risk measures in stochastic optimization and uncertainty sets in robust optimization.
On Substitutability And Complementarity In Discrete Choice Models, Guiyun Feng, Xiaobo Li, Zizhuo Wang
On Substitutability And Complementarity In Discrete Choice Models, Guiyun Feng, Xiaobo Li, Zizhuo Wang
Research Collection Lee Kong Chian School Of Business
In this paper, we propose the concepts of substitutability and complementarity in discrete choice models. These concepts concern whether the choice probability of one alternative in a choice model increases or decreases with the utility of another alternative, and they play important roles in capturing certain practical choice patterns, such as the halo effect. We study conditions on discrete choice models that will lead to substitutability and complementarity. We also present ways of constructing choice models that exhibit complementary property.