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Articles 151 - 180 of 645
Full-Text Articles in Business Administration, Management, and Operations
Principles For Evaluating And Selection Of Alternative Systems, Chung-Ung Lee
Principles For Evaluating And Selection Of Alternative Systems, Chung-Ung Lee
Research Reports from the Department of Operations
The Multi Attribute Decision Making (MADM) problem arises in the selection of the most appropriate alternative from a set of very complex alternatives, such as, plans, projects, actions, tactics, strategies, products, etc. MADM methods are based on the multi-dimensionality of decision attributes. The significant advantage of the MADM method is that they avoid the rather arbitrary transformation of decision attribute values into unique monetary units. Moreover, these methods are capable of taking into account intangible attributes. But MADM methods may suffer from the degree of uncertainty, both in decision attribute values and in the weighting vector. The existence of many …
Functional Approximation Approach To Multistate Control Problems, Prasert Shusang
Functional Approximation Approach To Multistate Control Problems, Prasert Shusang
Research Reports from the Department of Operations
An iterative method for solving multistate dynamic control problems is presented. The algorithm differs from most decomposition methods currently used in the deterministic optimization of control systems. The method is described as a functional approximation of the recursive equation in dynamic programming. The basic concept is directly dependent on the Sensitivity Theorem in nonlinear programming. The method, referred to as Functional Approximation approach to multistate Control Problem (FACP) is shown to be efficient in case study for operation of multireservoir system. It results in a marked reduction in computer storage and thus directly increases the power of multistate dynamic programming …
A Network Method In The Management Of Innovative Start-Ups, Burton V. Dean
A Network Method In The Management Of Innovative Start-Ups, Burton V. Dean
Research Reports from the Department of Operations
This study develops, tests, and evaluates a generic network-based method for use in the management of innovative start-ups. The major tasks accomplished in each start-up, including organizational, legal and accounting, financial, R&D, market research, manufacturing, and marketing were identified. For each major task, the significant activities, precedence relations, decisions nodes, alternative choices of action, and feedback loops were identified. The Q-GERT approach is used to model the innovative management process, involving probabilistic elements and decision processes. A computer program for Q-GERT simulation has been developed and applied to analyze different scenarios. In addition, computer outputs are obtained of such parameters …
Project Management Game - Implementation And Evaluation, Burton V. Dean
Project Management Game - Implementation And Evaluation, Burton V. Dean
Research Reports from the Department of Operations
The current version of the project management game has been implemented in a variety of instructional and operational situations. Current evaluations are presented and analyzed. Particular impacts in regards to both operational effectiveness and management training are discussed. A complete description of the game in its present form is presented.
A Long-Range Planning Model For Branch Bank Development, Sedrak Chitariance
A Long-Range Planning Model For Branch Bank Development, Sedrak Chitariance
Research Reports from the Department of Operations
This dissertation concerns itself with development of a long-range planning model to assist commercial banks and other financial institutions in their efforts to expand or contract their retail outlet networks. A bank retail outlet is defined as either a full-service branch or an Automated Teller Machine (ATM). Market share equations have been developed for different types of retail deposits (services) in terms of the number of retail outlets present within a given geographical area, called a market. These market share equations are then incorporated into a mathematical optimization framework. Criterion function in the mathematical model to be maximized is the …
A Multi-Item Multi-Component Two Echelon Model For Reusable Items In A Health Care Setting, Boudjelal Boukaabar
A Multi-Item Multi-Component Two Echelon Model For Reusable Items In A Health Care Setting, Boudjelal Boukaabar
Research Reports from the Department of Operations
Inventory systems in a health care setting include a multitude of items that are finitely reusable. Examples of such items are linen, glassware, silverware, patient gowns, towels, and, in general, all surgical implements that can be sterilized. Because the economic life of such items is rather long, they represent an investment which cannot be used elsewhere. In addition, the processing of these items might be very costly due to the required investment in the processing equipment and its maintenance, the labor and energy costs, and the high interest cost. As these costs have skyrocketed during the '70s, the cost of …
A Strategic Planning Model For Bank Retail Outlet Development, Sedrak Chitariance, Arnold Reisman
A Strategic Planning Model For Bank Retail Outlet Development, Sedrak Chitariance, Arnold Reisman
Research Reports from the Department of Operations
This paper presents a strategic planning model designed to help commercial banks and financial institutions optimize their retail outlet networks, including full-service branches and ATMs. The model incorporates market share equations based on the distribution of retail outlets across geographical areas, referred to as markets, and integrates these equations into a mathematical optimization framework. The primary objective is to maximize overall retail profit by determining the optimal number of branches and ATMs to open or close during a defined planning horizon. Budget constraints and other optional features influence the model's structure, providing flexibility in variable selection and constraint application. This …
Quality Control And Servicing : A Decision Framework, Charles S. Tapiero, Hau L. Lee
Quality Control And Servicing : A Decision Framework, Charles S. Tapiero, Hau L. Lee
Research Reports from the Department of Operations
It has been widely recognized that quality control and the repair services provided by a firm are important strategic tools for the sales of the firm's product. This paper considers the relationship between these two important decision variables of the firm: quality control and service capacities. For both the cases of degenerate and non-degenerate probability distributions of defective items, analytical results for the determination of optimal quality control inspection policy and optimum service capacities are obtained. The sufficient conditions derived provide a powerful means to determine the optimal strategies under different scenarios. For the non-degenerate case, bounds for the optimal …
A Finite Improvement Algorithm For The Linear Complementarity Problem, Konstantinos Paparrizos
A Finite Improvement Algorithm For The Linear Complementarity Problem, Konstantinos Paparrizos
Research Reports from the Department of Operations
This research is concerned with the development of a computationally efficient improvement algorithm for the linear complementarity problem (LCP). Our approach to finding a solution to the LCP is to solve the equivalent constrained optimization problem (COP) of maximizing the sum of the minimum of each complementary pair of variables subject to the constraints that each such minimum is nonpositive. An optimal solution with objective function value of zero yields a solution of the LCP. The algorithm, descent in nature, is similar to the simplex method in the sense that it moves between basic points of an associated system of …
Workforce Scheduling With Cyclic Requirements And Constraints On Days Off, Weekends Off And Workstretch, Hamilton Emmons
Workforce Scheduling With Cyclic Requirements And Constraints On Days Off, Weekends Off And Workstretch, Hamilton Emmons
Research Reports from the Department of Operations
For a seven-day workweek with cyclic demand requiring D workers on weekdays and E workers on weekend days, we provide a formula to calculate the minimal workforce necessary to meet these requirements while ensuring each worker receives two off-days per week. This includes the flexibility for workers to have A out of B weekends off, for any A and B (A is equal to or lesser than B). Additionally, we present an algorithm to generate a feasible schedule that ensures all work stretches are between two and four days, except when a worker receives two consecutive weekends off, in which …
Issues In Retail Banking: A Survey Study, Sedrak Chitariance, Arnold Reisman
Issues In Retail Banking: A Survey Study, Sedrak Chitariance, Arnold Reisman
Research Reports from the Department of Operations
A nationwide survey of U.S. commercial banks was conducted to assist the authors in developing a long-range planning model for bank retail outlet expansion and/or contraction. The model relates to both full-service branches and Automated Teller Machines (ATMs). The survey questions were categorized in four groups: (1) Bank size and branching activities. (2) Analysis of branch development. (3) Future of retail outlets. (4) Market share for deposits and its relation to retail outlets. The results of this survey, particularly issues concerning the future of retail outlets and of market share, are being incorporated in building a mathematical model for retail …
R&D Portfolio Selection, Gregory Richard Madey
R&D Portfolio Selection, Gregory Richard Madey
Research Reports from the Department of Operations
This is a proposal for an applied thesis research project in the area of R&D management. The environment of the problem that will be modeled is within Goodyear Aerospace Corporation at the division level. The decision problem is one of determining an optimum portfolio of projects focusing on new business development. The major funding categories are Research & Development (R&D) and Bid & Proposal (B&P). The problem involves selecting projects from a large group of proposed projects and then determining what level to fund them at. Goals or objectives of this process include achieving a prescribed ROI and sales growth …
Portfolio Management Techniques For The Selection Of Stock/Option Positions, Robin Scott Symes
Portfolio Management Techniques For The Selection Of Stock/Option Positions, Robin Scott Symes
Research Reports from the Department of Operations
Stock options are distinguished from more conventional investment vehicles by the contingent claim status of the option and the dependence of the value of the option on the value of a related common stock. As a result of these properties, portfolios which include options behave differently from diversified equity portfolios consisting of common stocks alone. The behavior of portfolios which include options is the primary focus of this research. Assuming that risk-averse investors maximize utility by minimizing risk at every level of expected return, a technique for constructing stock/option portfolios is devised. If option prices conform to the equilibrium values …
Distribution System Design: A Problem-Solving Approach, Mohammed Ali Chowdhury Hakim
Distribution System Design: A Problem-Solving Approach, Mohammed Ali Chowdhury Hakim
Research Reports from the Department of Operations
This paper presents a methodology for designing an effective two-echelon multicommodity distribution network. Addressing key logistics issues, such as warehouse location and product distribution, the model integrates cost and service trade-offs, regional warehousing practices, and shipment alternatives. Unlike previous models, this approach offers comprehensive problem representation and accurate cost structure, enhancing solution quality and flexibility. Using a linear programming (LP) approach, it generates solutions within 3% of the optimum for all tested cases. Comparative evaluation against existing models highlights its superior problem representation, computational efficiency, and analytical versatility. The study emphasizes the importance of a global consideration of design alternatives …
Development And Implementation Of A Large Scale Linear Programming Code, Taher Esshaghi-Bayat
Development And Implementation Of A Large Scale Linear Programming Code, Taher Esshaghi-Bayat
Research Reports from the Department of Operations
The objective of this research is to develop a computationally efficient computer code for solving large linear programming (LP) problems up to size (100 x 400). This program can handle upper and lower bounds on variables without affecting the size of the constraint set. The value of nonbasic variables can be initiated at a prespecified value other than its lower or upper bound by using the concept of superbasic variables. Multiple problems can also be run in one compilation. This program uses additional features to improve computational efficiency and to allow the solution of large-scale problems. These features include: 1) …
On Mean Variance Option Pricing Models, Peter H. Ritchken, Robin Scott Symes, Harvey M. Salkin
On Mean Variance Option Pricing Models, Peter H. Ritchken, Robin Scott Symes, Harvey M. Salkin
Research Reports from the Department of Operations
The purpose of this note is to develop a mean variance pricing model for options which are traded in a lognormal security market. The mean variance pricing model derived corrects formulation errors in a finite period pricing model developed by Lee, Rao and Auchmuty [5]. The behavior of these new prices is compared to the behavior of Black-Scholes prices [3].
Manpower Needs Forecasts For The Health Services Of The United States Of Mexico, Arnold Reisman, Lilia I. Duran, Carlos Pucheu Regis
Manpower Needs Forecasts For The Health Services Of The United States Of Mexico, Arnold Reisman, Lilia I. Duran, Carlos Pucheu Regis
Research Reports from the Department of Operations
The Republic of Mexico is in the process of review and reorganization of its health care delivery systems. Planning for the reorganization requires a manpower needs forecast under various delivery scenarios in each of 27 prioritized health problem areas. This paper discusses the 1987 and 1992 manpower needs forecasts in one of the 27 health priorities, e.g., the mental health services field. A panel representing national leadership from all relevant provider professions (psychiatry, psychology, social work, etc.) working in the public and private provider and academic institutions was used to reach a consensus via the Delphi process on each of …
Expected Values And The Variance Covariance Structure Of Returns For Portfolios Containing Options, Peter H. Ritchken, Robin Scott Symes, Harvey M. Salkin
Expected Values And The Variance Covariance Structure Of Returns For Portfolios Containing Options, Peter H. Ritchken, Robin Scott Symes, Harvey M. Salkin
Research Reports from the Department of Operations
The purpose of this article is to develop expressions for the mean vector and the variance-covariance matrix of returns for portfolios containing options when it is assumed that prices follow geometric Brownian Motion. Given these expressions it is possible to employ a conventional expected value-variance approach to portfolios containing options. The expressions developed also enable a beta value to be calculated for a call option which is to be held over an arbitrary time period. Computation of market risk expressions for partially hedged portfolios held over arbitrary time periods is possible.
A Computerized Branch And Bound Algorithm For Solving The Assembly Line Balancing Problem, Sanjeev Karande
A Computerized Branch And Bound Algorithm For Solving The Assembly Line Balancing Problem, Sanjeev Karande
Research Reports from the Department of Operations
The objective of this research is to develop a portable computer program to compute an optimal solution for single model deterministic assembly line balancing problems via a branch and bound algorithm. The branch and bound procedure will employ the good heuristic solutions for "pruning" the resulting decision trees. Such pruning should make normally inefficient branch and bound methods both practical and efficient for a high proportion of assembly line balancing problems.
A Regionalized Goal Oriented Model For Dynamic Analysis Of World Trade, Bidhu Bhusan Mohanty
A Regionalized Goal Oriented Model For Dynamic Analysis Of World Trade, Bidhu Bhusan Mohanty
Research Reports from the Department of Operations
In the present day world, the national economies are interdependent. A world trade model, designed as a two-level hierarchical system, has been developed to be used as a tool to analyze this mutual interdependence and to aid in the formulation of long-term economic policies. For practical reasons, the world has been divided into a number of regions and the goods to be traded into categories. The world market has been represented by a world pool, and each region is assumed to exchange the goods with the pool only. To determine the volume of trade, the model uses the principle of …
R&D System Planning And Technology Transfer Methods In An Industrialized Developing Country, Woo-Young Lee
R&D System Planning And Technology Transfer Methods In An Industrialized Developing Country, Woo-Young Lee
Research Reports from the Department of Operations
This thesis provides a framework in R&D system management consisting of computer-based analytical models for use in technology transfer and R&D planning of a developing country's military weapons systems development. The models involve integer nonlinear programming (INLP) and interactive goal programming (IGP) approaches. Also, the thesis utilizes: (1) A component sharing R&D network to identify probabilistic interdependencies among systems components and technical approaches. (2) A weapon effectiveness indices/weighted unit value (WEI/WUV) method to evaluate potential benefits of weapons systems, if funded. (3) Network planning techniques to assess probabilities of technical success and to integrate technology forecasting, technology catch-up, and time-cost …
The Association Of Individual Characteristics With Success And Failure Of U.S. Army Recruiters, Frederick David Coleman
The Association Of Individual Characteristics With Success And Failure Of U.S. Army Recruiters, Frederick David Coleman
Research Reports from the Department of Operations
This study addresses the relationships between individual biographical/demographic characteristics and the prediction of success and failure of U.S. Army Recruiters. The quantitative process employed is discriminant analysis. Ten variables are studied to determine their relative importance in the classification of potential Recruiters as being successful for at least three years. Civilian education is found to be the most important and time-in-service (the number of years served in the Army) the least important. The results are formulated into a Success Prediction Algorithm (SPA), which can be included as part of the Recruiter selection process. SPA can provide an indication of an …
Rural Industrialization - An Analysis Of Characteristics And An Approach To The Selection Of Industrial Plants For Kibbutz Settlements In Israel, Dan Yaron, A. Cooper, D. Golan, Arnold Reisman
Rural Industrialization - An Analysis Of Characteristics And An Approach To The Selection Of Industrial Plants For Kibbutz Settlements In Israel, Dan Yaron, A. Cooper, D. Golan, Arnold Reisman
Research Reports from the Department of Operations
The decline of agriculture's relative share in national economies and the associated rural-to-urban migration present critical challenges for developing countries. Excessive urbanization and the economic weakening of rural areas have prompted policies aimed at diversifying rural employment through industrialization. This paper develops and empirically applies a methodology for selecting industrial plants suited to rural communities, with a specific focus on collective rural settlements (kibbutzim) in Israel. The analysis highlights unique factors influencing rural industrialization in Israel, including the dispersion of the population, resource limitations, and the socioeconomic dynamics of kibbutzim. Advantages such as technological interest, higher education aspirations, and community …
A Critique Of Linear And Nonlinear Regression Problems With Four Different Minimization Criteria, Radhakrishna Murty Gajjala
A Critique Of Linear And Nonlinear Regression Problems With Four Different Minimization Criteria, Radhakrishna Murty Gajjala
Research Reports from the Department of Operations
The multiple regression problem is analyzed by the model type (linear and nonlinear models) and four different minimization criteria, viz., minimization of the sum of squared errors, sum of absolute errors, sum of absolute relative errors and sum of squared relative errors. The advantages and the limitations of the eight alternatives (two model types x four minimization criteria) are discussed. The appropriateness of these alternatives for a sample data is analyzed. Methods of estimating the parameters for four of the alternatives (not covered in the literature) are given. For the linear model, the properties of the least sum of squared …
A Study Of The Relationship Between Outpatient Queue Length And Number Of Providers, Diane Lurie Sachs
A Study Of The Relationship Between Outpatient Queue Length And Number Of Providers, Diane Lurie Sachs
Research Reports from the Department of Operations
This paper describes the development and implementation of an index of accessibility for ambulatory health care. The index, used at Kaiser-Permanente facilities in Cleveland, measures factors such as time spent making appointments, waiting in queues for appointments, and waiting for lab or x-ray tests. Data was collected through direct observation and telephone traffic systems, with appointment availability monitored monthly. The paper proposes a simplified model designed to integrate with existing data collection systems, enabling predictions of changes in accessibility due to shifts in personnel configurations or system usage. This model aims to enhance efficiency in ambulatory health care services.
Interpretive Structural Modeling And Its Applications, M. Venkatesan
Interpretive Structural Modeling And Its Applications, M. Venkatesan
Research Reports from the Department of Operations
The purpose of this paper is to introduce managers and management scientists to a recently developed tool for modeling complex systems. Interpretive Structural Modeling (ISM) is a technique for aiding people think and communicate effectively about complex systems. The elements or variables of a complex system can usually be identified with sufficient clarity, but the relationships among the elements can seldom be clearly stated. The ISM technique assumes transitivity of the inter-relationships and uses a group-consensus process for developing subjective pair-wise relations and uses a computer for storing and processing the subjective information using simple logical operations. A binary matrix …
A User's Guide For Software To Obtain The Largest Im-Free Subset From A Set Of Frequencies (Dual Code), Harvey M. Salkin, Kamlesh Mathur, Koichi Nishimura
A User's Guide For Software To Obtain The Largest Im-Free Subset From A Set Of Frequencies (Dual Code), Harvey M. Salkin, Kamlesh Mathur, Koichi Nishimura
Research Reports from the Department of Operations
This report presents operating instructions for the interactive computer program FREE4, designed to identify the largest intermodulation-free subset of a given set of frequency values. The program ensures that the subset satisfies a specified lowest permissible order of intermodulation and accounts for additional constraints, including frequency separation, guard bands, and the number of concurrent threats. A frequency set is deemed intermodulation-free if no subset combination produces intermodulation interference. Mathematically, this involves satisfying constraints on guard bands and intermodulation order.
Research & Development And Graduate Education, Arnold Reisman
Research & Development And Graduate Education, Arnold Reisman
Research Reports from the Department of Operations
This lecture was delivered on August 13, 1981 as a public service of CEUTES (Centro Universitario de Tecnologia Educacional para la Salud).
Use Of Numerical Optimization Methods And Interactive Simulation To Improve The Operation Of Transfer Lines, Sven Charles Milenbachs
Use Of Numerical Optimization Methods And Interactive Simulation To Improve The Operation Of Transfer Lines, Sven Charles Milenbachs
Research Reports from the Department of Operations
A set of FORTRAN computer programs is presented for the simulation of a special class of manufacturing subsystems known as "transfer lines": a serial arrangement of machines that sequentially process parts and include temporary storage buffers between machines. Parts movement through the line is modeled as a flow between adjacent buffers, which is temporarily interrupted by machine shutdowns and buffer capacity constraints. This approach makes program execution time proportional to the number of flow interruptions rather than the number of parts processed. Implementations of the Nelder-Mead, Hooke-Jeeves, and Rosenbrock multivariable search algorithms are interfaced with the simulation capability. Several example …
A Constrained Optimization Approach To Solving Convex Equations With Applications To The Linear Complementarity And Brouwer Fixed Point Problems, Partha Sengupta
A Constrained Optimization Approach To Solving Convex Equations With Applications To The Linear Complementarity And Brouwer Fixed Point Problems, Partha Sengupta
Research Reports from the Department of Operations
This research develops a nonlinear programming approach for solving a convex system of equations. Two applications of interest are also studied, namely, computation of a Brouwer fixed point of a convex function, and the Linear Complementarity Problem (LCP). Our approach to finding a zero of a function is to try to solve the optimization problem of minimizing the sum of the coordinate functions subject to each one being nonnegative. An optimal solution with objective function value of zero yields a zero of the function. The principal advantages of our approach are: (1) Global convergence of our algorithms under reasonable conditions. …