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Articles 631 - 660 of 1196
Full-Text Articles in Business Administration, Management, and Operations
An Interactive Delphi Goal Programming Procedure For Countertrade Negotiation Decision Support Systems, Gang Li, Arnold Reisman
An Interactive Delphi Goal Programming Procedure For Countertrade Negotiation Decision Support Systems, Gang Li, Arnold Reisman
Research Reports from the Department of Operations
This paper presents an Interactive Delphi Goal Programming procedure for countertrade negotiation decision support systems. The procedure is general enough to encompass all known formats ranging from pure barter to complex joint ventures.
Reliability, Pricing And Quality Control, Charles S. Tapiero, Peter H. Ritchken, Arnold Reisman
Reliability, Pricing And Quality Control, Charles S. Tapiero, Peter H. Ritchken, Arnold Reisman
Research Reports from the Department of Operations
The purpose of this paper is to construct a theoretical framework which allows a manufacturer to examine the tradeoffs between pricing, reliability, design and quality control issues. In particular, the paper investigates effects of risk aversion on the relative prominence of one or the other policy instruments. In addition, the results of extensive numerical analyses are presented relating basic managerial guidelines with price, reliability and quality control.
Quality Control Of The M/G/1 Queue, Lie-Fern Hsu, Charles S. Tapiero
Quality Control Of The M/G/1 Queue, Lie-Fern Hsu, Charles S. Tapiero
Research Reports from the Department of Operations
This paper addresses the integration of quality control techniques into M/G/i queue models, extending prior analyses of M/M/i queue and transfer line systems. The study investigates quality control in automated manufacturing environments, with a focus on flexible and job-shop systems. Two approaches to quality control are analyzed: open-loop sampling techniques, based on Dodge-continuous sampling plans, and closed-loop techniques, where inspection is dynamically adjusted based on queue performance metrics such as queue length. The paper employs a renewal-reward framework to optimize quality control parameters, balancing efficiency and accuracy in defect detection. Key findings offer insights into the interaction between queue dynamics …
Premium Valuation In International Insurance, Laurent L. Jacque, Charles S. Tapiero
Premium Valuation In International Insurance, Laurent L. Jacque, Charles S. Tapiero
Research Reports from the Department of Operations
This article develops a premium valuation formula for international insurance and reinsurance contracts. Specifically, the expected utility equivalence framework is reformulated in a dynamic mode to account for the stochastic nature of exchange rates movements which allows for the joint factoring of insurance and exchange risk into the premium valuation process. Assuming a Compound Poisson Claim Process and lognormally distributed exchange rates actuarially fair premia are derived for international insurance, proportional and excess loss reinsurance contracts.
Some Thoughts For Model Builders In The Management And Social Sciences, Arnold Reisman
Some Thoughts For Model Builders In The Management And Social Sciences, Arnold Reisman
Research Reports from the Department of Operations
The development of specialized models in management science, industrial engineering, operations research, and econometrics, begun out of necessity, is degenerating into a habit. The literature is replete with models that fit a specific type problem like a glove but are useless for problems that differ in type. All these works need synthesis. Model builders should generalize upon previous works to integrate, systematize, or categorize the specialized models within their fields.
Ranges For Negotiating Countertrade Transactions Under The Comparative Advantage Theory, Duu-Cheng Fuh, Arnold Reisman, Gang Li
Ranges For Negotiating Countertrade Transactions Under The Comparative Advantage Theory, Duu-Cheng Fuh, Arnold Reisman, Gang Li
Research Reports from the Department of Operations
This paper develops mathematical equivalences of various types of countertrade transactions including those with single and multiproduct bundling by one or both sides. Under the assumption of Comparative Advantage it derives ranges for countertrade negotiation within which all parties profit. Lastly it proves that product bundling increases negotiating latitudes.
A Proactive Approach To Seeking Out Profitable Countertrade Opportunities, Arnold Reisman, Duu-Cheng Fuh
A Proactive Approach To Seeking Out Profitable Countertrade Opportunities, Arnold Reisman, Duu-Cheng Fuh
Research Reports from the Department of Operations
This paper presents a proactive approach for use by large and small enterprises in seeking out countertrade potentialities. The approach is based on the Marginal Cost Ratio and the Marketing Synergy concepts. It directs the trader to those industries and specific enterprises which show the greatest countertrade benefit potential.
A Mixed Integer Programming Model For Solving Loading, Tool Configuration And Batching Problems In Flexible Manufacturing Systems, Shih-Ken Chen, Jeanette S. Biermann
A Mixed Integer Programming Model For Solving Loading, Tool Configuration And Batching Problems In Flexible Manufacturing Systems, Shih-Ken Chen, Jeanette S. Biermann
Research Reports from the Department of Operations
Production management refers to the functions production planning and factory/shop floor control. There are a number of production management problems that are amenable to operations research techniques. The most popular of these are assembly line balancing, inventory control, and scheduling. This paper deals with some of the shop floor control problems which occur in a flexible manufacturing system for automated metal removal.
Economic Design Of Attribute Control Charts In An M/G/1 Job Shop Queue, Lie-Fern Hsu, Charles S. Tapiero
Economic Design Of Attribute Control Charts In An M/G/1 Job Shop Queue, Lie-Fern Hsu, Charles S. Tapiero
Research Reports from the Department of Operations
This paper addresses the integration of quality control techniques within queueing-based job shop models, specifically the M/G/1 queue framework. While previous research has extensively explored job shop models and flexible manufacturing systems, the incorporation of quality management has been limited. This study introduces an economic design for attribute control charts that monitor the quality of outputs in an M/G/1 queue, accounting for situations when the production process is in or out of control. Utilizing renewal-reward theory, we optimize quality control parameters and establish a joint objective for balancing quality and quantity in production. The methodology includes a sampling technique inspired …
Scheduling To A Common Due Date On Parallel Uniform Processors, Hamilton Emmons
Scheduling To A Common Due Date On Parallel Uniform Processors, Hamilton Emmons
Research Reports from the Department of Operations
We consider scheduling a set of jobs on parallel processors, when all jobs have a common due date and earliness and lateness are penalized at different cost rates. For identical processors, the secondary criteria of minimizing makespan and machine occupancy are addressed. The extension to different, uniform processors is also solved.
Resource Requirements For Scheduling With Different Processor Sizes - Part I, Venkateswara Reddy Dondeti, Hamilton Emmons
Resource Requirements For Scheduling With Different Processor Sizes - Part I, Venkateswara Reddy Dondeti, Hamilton Emmons
Research Reports from the Department of Operations
Given a start time sj, duration pj, and the minimal processor capacity required rj, for each of n jobs (j=1,...,n), we wish to find the optimal mix of processors, available in two different sizes, required to complete all jobs on schedule. A job with a smaller size requirement can be done by a bigger processor, but not vice versa. We present algorithms for solving this problem under two different objectives: (a) Minimize the total number of processors, and, given that, minimize the number of bigger processors: (b) Minimize the total costs of the processors.
A Comparison Of Anova With Marginal Chi-Square In Testing Multidimensional Categorical Data, Wanchai Tosuwan
A Comparison Of Anova With Marginal Chi-Square In Testing Multidimensional Categorical Data, Wanchai Tosuwan
Research Reports from the Department of Operations
In this thesis we present ANOVA of multidimensional data in 2 contingency table, Marginal Chi-square and the Mantel-Haenszel tests. The results of each method show which one of the three is most suitable for the 2 contingency tables.
A Decision Support Software For Manufacturing Resources Planning Of Flexible Manufacturing Systems : A Practical Application Of A Closed Queueing-Network Model, Mark Friedman
Research Reports from the Department of Operations
In this thesis, a closed queueing-network model is embedded in an interactive computer model for resolving the manufacturing resources planning problem in designing flexible manufacturing systems (FMS). In addition to being a resources planning system for an FMS, this thesis also provides a partial solution and approach to the total integration of the facility design issues.
New Tools For Detecting Influential Data In Multiple Linear Regression, Chiao-Pin Bao
New Tools For Detecting Influential Data In Multiple Linear Regression, Chiao-Pin Bao
Research Reports from the Department of Operations
In multiple regression analysis, one occasionally finds that a small subset of data has a disproportionate influence on the values of regression coefficients. The techniques for detecting such influential data points consist of a combination of numerical and graphical methods. Detecting influential data sets is a very difficult and time-consuming task, especially in large data sets. Simple and computationally efficient techniques for detecting influential data points are given in the thesis. The main contributions of the thesis are: 1) New formulas for detecting influential data which are masked by one or more data points. 2) Efficient computational procedures for BCOVRATIO …
Minimal Resources For Fixed Job Schedules With Defferent Processor Size Requirements And A Hierarchical Structure, Venkateswara Reddy Dondeti
Minimal Resources For Fixed Job Schedules With Defferent Processor Size Requirements And A Hierarchical Structure, Venkateswara Reddy Dondeti
Research Reports from the Department of Operations
In resource allocation and scheduling problems, we frequently come across situations wherein the tasks, although similar in nature, require resources of different capacities. An example is the assignment of airplanes to different flights. In this case, the basic task is the same, but depending on the expected load of a flight, we would assign a plane of larger or smaller capacity to that flight. The essential feature of this type of problem is that not only the tasks require resources of different capacities, but also a resource with a higher capacity can, if necessary, undertake a task which requires a …
A Strategic Approach Towards Evaluating Health Care Market Attractiveness, Richard Kwei
A Strategic Approach Towards Evaluating Health Care Market Attractiveness, Richard Kwei
Research Reports from the Department of Operations
This paper proposes a strategic approach to geographic market expansion for the health care industry, utilizing a structured and quantifiable model. The methodology involves a workflow designed to identify and evaluate optimal geographic areas for expansion and to develop plans for effective market entry and development. Key aspects of the model address market feasibility through the analysis of factors such as market potential, competition, health care resources, market receptiveness, and market share modeling. By providing measurable results, the approach aims to guide decision-making processes for market growth in the health care sector.
Valuation Of Candidate Bond-Warrant Packages, Peter H. Ritchken, Shyanjaw Kuo
Valuation Of Candidate Bond-Warrant Packages, Peter H. Ritchken, Shyanjaw Kuo
Research Reports from the Department of Operations
This paper presents a model for valuing bond-warrant financing packages. It shows how bonds and warrants can be simultaneously valued when the firm’s post financing value is not exogeneous. This simultaneous valuation allows the “sweetening” effect of warrants on debt to be quantified prior to the introduction of the issue. If financing decisions are made solely to change the capital structure of the firm, without increasing its size, then the model presented reduces to well known forms.
A Sequential Linear Programming Approach For Solving The Linear Complementarity Problem, Syamal Roy
A Sequential Linear Programming Approach For Solving The Linear Complementarity Problem, Syamal Roy
Research Reports from the Department of Operations
This research is concerned with the linear complementarity problem (LCP). In the first part of this research, we develop an algorithm which finds a solution to the LCP or detects that none exists when the given matrix M is either a P-matrix, or M is nonsingular and its inverse is nonpositive. Our approach is to solve an equivalent constrained optimization problem, the feasible region of which is the same as that defined by the linearity constraints of the LCP. The algorithm starts with a solution to the linearity constraints, if one exists, and solves a sequence of linear programming subproblems. …
Decision Support System For Capacity Planning And Operational Design, Mahesh Chandra Pati
Decision Support System For Capacity Planning And Operational Design, Mahesh Chandra Pati
Research Reports from the Department of Operations
The purpose of this dissertation was to provide a decision support system to address the capacity planning and operational design issues of a multi-product, multi-family, multi-stage serial flow production line. The existing algorithms find production schedules either for a single-product case or for a multi-product, single-family manufacturing system of only one stage. The latter problem is an NP-complete problem. The model developed in this thesis is called the Manufacturing Analysis System (MAS). MAS determines a feasible schedule that will minimize the total setup and inventory holding costs, which should be close to the optimal schedule. The Extended Basic Period (EBP) …
Development Of Human Capital And Its Relationship With Economic Growth, Moon Ho Song
Development Of Human Capital And Its Relationship With Economic Growth, Moon Ho Song
Research Reports from the Department of Operations
In the post industrial era, human capital is known to be the most vital source of economic growth. It is developed in many ways. The most obvious of which is by means of formal education and research, especially higher education and organized research. This thesis first develops a methodology for analyzing the contributions of higher education and research and development to economic growth. The methodology is based on economic theory of production and technical change. The transcendental logarithmic production function was employed for the model. The methodology was then empirically tested and evaluated based on 1955 to 1983 time series …
Classification Of Time-Dependent Observations With Different Population Trends, Jung Jin Lee
Classification Of Time-Dependent Observations With Different Population Trends, Jung Jin Lee
Research Reports from the Department of Operations
In many areas of research, multivariate data are collected from a subject repeatedly over time. One problem associated with these data is the classification of the subject into one of two populations. If the trends of each population have the same functional forms (polynomials), it was shown that the Regression-Discriminant (RD) procedure yields smaller error rates in general (Browdy (1978)). However, the RD procedure is not appropriate when the population trends have different functional forms from each other. The Successive Bayesian procedure is designed in this dissertation to classify time-dependent data when the population trends have different functional forms and …
A Foodservice Classification And Planning Model For Hospitals And Health Care Facilities, Emmanuel Solis Escueta
A Foodservice Classification And Planning Model For Hospitals And Health Care Facilities, Emmanuel Solis Escueta
Research Reports from the Department of Operations
This report presents the results of a research effort geared towards the development of a planning tool which brings to the decision-maker's attention the various costs involved in operating a health-care foodservice facility. The research has yielded two foodservice configuration models: a classification model (BMKPHD) and an interactive foodservice configuration planning model. The BMKPHD classification model is a novel classification scheme based on the presence or absence of basic foodservice components. It is an attempt to minimize the confusion brought about by present-day equipment-based classification schemes. Furthermore, the BMKPHD scheme acts as a catalyst for planners / decision-makers by providing …
A Set Partitioning Approach To The Vehicle Routing Problem, Yogesh Kumar Agarwal
A Set Partitioning Approach To The Vehicle Routing Problem, Yogesh Kumar Agarwal
Research Reports from the Department of Operations
This dissertation presents a new algorithm for the Vehicle Routing Problem (VRP) based on the set partitioning approach. Given a depot, a number of delivery points (stops) with known demands, and the vehicles with given capacities, the problem is to find the set of most economical vehicle routes satisfying all demand. Each route originates and terminates at the depot and must be feasible with respect to the truck capacity. In the set partitioning approach, each route is represented by a binary column with elements 1 for stops visited on the routes and 0 for stops not visited. The obvious difficulty …
Multivariate Quality Control : An Hypothesis Testing And Optimization Approach To Effective Use And Measure Of Performance, Joel K. Jolayemi
Multivariate Quality Control : An Hypothesis Testing And Optimization Approach To Effective Use And Measure Of Performance, Joel K. Jolayemi
Research Reports from the Department of Operations
There are many good techniques, whose developments are based on sound statistical and economic considerations, available for use in the design of Univariate Quality Control (UQC). Despite their familiarities and popularities in UQC, many of these techniques have not been adopted for use in Multivariate Quality Control (MQC). In this dissertation, we have classified the various design techniques used for Shewhart's plan into two parts, viz: 1) the hypothesis testing approach, and 2) the optimization approach. A few good design techniques in the two categories above have been thoroughly modified and extended for the design of MQC plans. Under the …
Improving And Expanding The Role Of D-Optimality In Experimental Designs With Emphasis On Response Surfaces, Chin-Kyooh Lee
Improving And Expanding The Role Of D-Optimality In Experimental Designs With Emphasis On Response Surfaces, Chin-Kyooh Lee
Research Reports from the Department of Operations
When an experimenter performs experiments, the most important consideration is the experimental design. However, if the experimental cost is low, the experimental design is not a problem because the experimenter is at liberty to choose any design he wants. But if the cost is high and the number of experiments is restricted, then the experimental design becomes critical. Classical experimental designs are the best designs and they have unique properties. But they cannot be used when the experimenter is confronted with special problems such as a restriction on the number of experiments, restricted experimental runs, augmentation of designs, or special …
On The Voids In Us National Education Statistics, Arnold Reisman, Peter H. Ritchken, Bruce Pollack-Johnson, Burton V. Dean, Emmanuel Solis Escueta, Gang Li
On The Voids In Us National Education Statistics, Arnold Reisman, Peter H. Ritchken, Bruce Pollack-Johnson, Burton V. Dean, Emmanuel Solis Escueta, Gang Li
Research Reports from the Department of Operations
In forecasting the supply and demand of highly trained human resources at the national level, it must be recognized that people flow through a network which starts at kindergarten and ends in higher education. The upper reaches of this pipeline exhibit many branches and even some feedback loops. Network models used in such forecasting require people flow data, in addition to many socio-economic and political considerations. This paper, using a systems approach, points out the voids in the U.S. national education statistics.
A Taxonomy Of Manpower Forecasting And Planning, Moon Ho Song, Arnold Reisman
A Taxonomy Of Manpower Forecasting And Planning, Moon Ho Song, Arnold Reisman
Research Reports from the Department of Operations
This paper synthesizes landmark developments in manpower forecasting and planning models, presenting a comprehensive taxonomy grounded in the methods and decision factors used in these processes. The proposed schema encompasses all relevant factors identified in existing literature and offers a general methodology with a highly complex structure. The taxonomy’s development is guided by two core objectives: (1) to identify significant factors relevant to manpower forecasting and planning models, and (2) to classify existing models as subcases of a general acronym, enabling systematic delineation of most conceivable models by modifying terms or subscripts. The classification framework is applied to codify landmark …
Some Generalizations And Applications Of Thinning Of Point Processes-Covariance Analysis, Lung-Kuang Liang
Some Generalizations And Applications Of Thinning Of Point Processes-Covariance Analysis, Lung-Kuang Liang
Research Reports from the Department of Operations
This dissertation addresses the areas of thinning and superposition of point and marked point processes. Specifically, we examine the dependencies between the thinned processes obtained when an original point process is thinned to produce two or more point processes. These dependencies have been examined at the level of cross-covariances under certain assumptions about the original point process as well as the thinning rule. In particular, the following independent thinning of point processes models are studied: 1) Bernoulli thinning of delayed renewal processes, exponential moving-average processes of order 1 and doubly stochastic; 2) Poisson processes; 3) Multinomial thinning of point processes; …
Optimal Inventory And Replacement Policy With Production Dependent Equipment Deterioration, Chin-Chih Ho
Optimal Inventory And Replacement Policy With Production Dependent Equipment Deterioration, Chin-Chih Ho
Research Reports from the Department of Operations
A periodic review, stochastic demand, dynamic, combined production inventory and equipment replacement problem is considered. The production system is subject to deterioration and random failure with probability dependent on initial state and quantity produced in a period. The problem is formulated as a discounted Markov decision process with two-dimensional state and action spaces. Assumptions are presented which are sufficient to prove that a simply structured production and replacement policy is optimal in any finite or infinite horizon case. The objective is to minimize the total expected discounted cost. In the finite horizon case, two different types of models, namely, the …
On Option Pricing Bounds, Peter H. Ritchken
On Option Pricing Bounds, Peter H. Ritchken
Research Reports from the Department of Operations
The purpose of this article is to compare the Perrakis and Ryan bounds of option prices in a single period model with option bounds derived using linear programming. It is shown that the upper bounds are identical but that the lower bounds are different. A comparison of these bounds, together with Merton's bounds and the Black-Scholes prices in a lognormal securities market, is presented.