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Operations and Supply Chain Management Commons™

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Singapore Management University

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Articles 301 - 330 of 409

Full-Text Articles in Operations and Supply Chain Management

Licensing Contracts: Control Rights And Options, Pascale Crama, Bert De Reyck, Niyazi Taneri Aug 2012

Licensing Contracts: Control Rights And Options, Pascale Crama, Bert De Reyck, Niyazi Taneri

Research Collection Lee Kong Chian School Of Business

The rise of the open innovation paradigm creates the opportunity and need for research and development (R&D) collaborations. R&D collaboration, however, can be challenging to manage because of the high degree of technical and market uncertainty as well as the difficulty in measuring research effort. We investigate how the contracts between the innovating parties structure the R&D collaboration and jointly optimize the payment terms and launch control rights, to offer the correct incentives to the innovator and the marketer. We find that the nature of the impact of the research effort matters as milestone payments are not always effective in …

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The Newsvendor's Optimal Incentive Contracts For Multiple Advertisers, Zhengping Wu, Pascale Crama, Wanshan Zhu Jul 2012

The Newsvendor's Optimal Incentive Contracts For Multiple Advertisers, Zhengping Wu, Pascale Crama, Wanshan Zhu

Research Collection Lee Kong Chian School Of Business

We consider a newsvendor who earns a revenue from the sales of her product to end users as well as from multiple advertisers paying to obtain access to those end users. We study the optimal decisions of a price-taking and a price-setting newsvendor when the advertisers have private information about their willingness to pay. We focus on the impact of the number of advertisers on the newsvendor’s optimal decisions. We find that regardless of the number of advertisers, the newsvendor may exclude advertisers with a low willingness to pay and distort the price and inventory from their system-efficient levels to …

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Evaluation Of Different Electronic Product Code Discovery Service Models, Su Mon Kywe, Jie Shi, Yingjiu Li, Raghuwanshi Kailash Apr 2012

Evaluation Of Different Electronic Product Code Discovery Service Models, Su Mon Kywe, Jie Shi, Yingjiu Li, Raghuwanshi Kailash

Research Collection School Of Computing and Information Systems

Electronic Product Code Discovery Service (EPCDS) is an important concept in supply chain processes and in Internet of Things (IOT). It allows supply chain participants to search for their partners, communicate with them and share product information using standardized interfaces securely. Many researchers have been proposing different EPCDS models, considering different requirements. In this paper, we describe existing architecture designs of EPCDS systems, namely Directory Service Model, Query Relay Model and Aggregating Discovery Service Model (ADS). We also briefly mention Secure Discovery Service (SecDS) Model, which is an improved version of Directory Service Model with a secure attribute-based access control …

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Lifecycle Pricing For Installed Base Management With Constrained Capacity And Remanufacturing, Andreas Robotis, Shantanu Bhattacharya, Luk N. Van Wassenhove Mar 2012

Lifecycle Pricing For Installed Base Management With Constrained Capacity And Remanufacturing, Andreas Robotis, Shantanu Bhattacharya, Luk N. Van Wassenhove

Research Collection Lee Kong Chian School Of Business

Installed base management is the policy in which the manufacturer leases the product to consumers, and bundles repair and maintenance services along with the product. In this article, we investigate for the optimal leasing price and leasing duration decisions by a monopolist when the production and servicing capacity are constrained. The effect of diffusion of consumers in the installed base is considered, with the ownership of the product resting with the monopolist during the product lifecycle. The monopolist operating the installed base jointly optimizes the profits from leasing the product/service bundle along with maintenance revenues and remanufacturing savings. We formulate …

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Becoming Aware Of The Unknown: Decision Making During The Implementation Of A Strategic Initiative, Ronald Klingebiel, Arnoud De Meyer Mar 2012

Becoming Aware Of The Unknown: Decision Making During The Implementation Of A Strategic Initiative, Ronald Klingebiel, Arnoud De Meyer

Research Collection Lee Kong Chian School Of Business

This qualitative study analyzes the decision-making process involved in adapting preconceived courses of action during the implementation of a strategic initiative. We observe that the type of decision-making process hinges on the nature of managers’ emerging awareness of future events. When managers become aware of new uncertainty, the process involves selectiveness, deliberateness, and diligence. By contrast, when managers become aware of new certainty, the process conforms to the problem-solving adhocracy and decision-making messiness emphasized in prior literature. We summarize our findings in a framework, proposing that decision-level differences in awareness and uncertainty can explain the observed variation in strategic decision-making …

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Multi-Party Multi-Period Supply Chain Coordination, Thin Yin Leong, Michelle Lee Fong Cheong Jan 2012

Multi-Party Multi-Period Supply Chain Coordination, Thin Yin Leong, Michelle Lee Fong Cheong

Research Collection School Of Computing and Information Systems

We apply combinatorial auction as a coordination mechanism to smooth demands placed on suppliers' limited production capacities, allowing several manufacturers to share common suppliers effectively. Products are bidders bidding for parts from suppliers, consuming their capacities in different time periods. The fourth party logistic (4PL) provider acts as the auctioneer to coordinate bids and perform price iterations. We leverage on the strong links between the Lagrangian relaxation method and combinatorial auction, where the Lagrange multipliers serve as the supply capacity reserve prices, to balance the demand and supply of capacities. To prevent cyclic behaviour and to increase convergence speed, we …

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Order-Picking By Cellular Bucket Brigades: A Case Study, Yun Fong Lim Jan 2012

Order-Picking By Cellular Bucket Brigades: A Case Study, Yun Fong Lim

Research Collection Lee Kong Chian School Of Business

Assigning products to and retrieving them from proper storage locations are crucial in minimizing the operating cost of a unit-load warehouse. The problem becomes intractable when the warehouse faces variable supply and uncertain demand in a multi-period setting. We assume a factor-based demand model in which demand for each product in each period is affinely dependent on some uncertain factors. The distributions of these factors are only partially characterized. We introduce a robust optimization model that minimizes the worst-case expected total travel in the warehouse with distributional ambiguity of demand. Under a linear decision rule, we obtain a storage and …

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Stochastic Capacity Investment And Flexible Vs. Dedicated Technology Choice In Imperfect Capital Markets, Onur Boyabatli, L. Bertil Toktay Dec 2011

Stochastic Capacity Investment And Flexible Vs. Dedicated Technology Choice In Imperfect Capital Markets, Onur Boyabatli, L. Bertil Toktay

Research Collection Lee Kong Chian School Of Business

This paper analyzes the impact of endogenous credit terms under capital market imperfections in a capacity investment setting. We model a monopolist firm that decides on its technology choice (flexible versus dedicated) and capacity level under demand uncertainty. Differing from the majority of the stochastic capacity investment literature, we assume that the firm is budget constrained and can relax its budget constraint by borrowing from a creditor. The creditor offers technology-specific loan contracts to the firm, after which the firm makes its technology choice and subsequent decisions. Capital market imperfections impose financing frictions on the firm. Our analysis contributes to …

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Technical Note: Cellular Bucket Brigades, Yun Fong Lim Dec 2011

Technical Note: Cellular Bucket Brigades, Yun Fong Lim

Research Collection Lee Kong Chian School Of Business

Workers in a bucket brigade production system perform unproductive travel when they walk to get more work from their colleagues. We introduce a new design of bucket brigades to reduce unproductive travel. Under the new design, each worker works on one side of an aisle when he proceeds in one direction and works on the other side when he proceeds in the reverse direction. We propose simple rules for workers to share work under the new design and find a sufficient condition for the system to self-balance. Numerical examples suggest that the improvement in throughput by the new design can …

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Integrating Long-Term And Short-Term Contracting In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Stephen R. Koontz Oct 2011

Integrating Long-Term And Short-Term Contracting In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Stephen R. Koontz

Research Collection Lee Kong Chian School Of Business

This paper analyzes the optimal procurement, processing, and production decisions of a meat-processing company (hereafter, a "packer") in a beef supply chain. The packer processes fed cattle to produce two beef products, program (premium) boxed beef and commodity boxed beef, in fixed proportions, but with downward substitution of the premium product for the commodity product. The packer can source input (fed cattle) from a contract market, where long-term contracts are signed in advance of the required delivery time, and from a spot market on the spot day. Contract prices are taken to be of a general window form, linear in …

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Integrated Risk Management: A Conceptual Framework With Research Overview And Applications In Practice, Panos Kouvelis, Lingxiu Dong, Onur Boyabatli, Rong Li Oct 2011

Integrated Risk Management: A Conceptual Framework With Research Overview And Applications In Practice, Panos Kouvelis, Lingxiu Dong, Onur Boyabatli, Rong Li

Research Collection Lee Kong Chian School Of Business

This chapter presents an action‐based supply chain risk management framework that has emerged from industry practice and academic research. For practitioners, this conceptual framework can serve as a guideline to devise risk management strategies that suit their specific supply chain environments. For academicians, one can map the research in the growing field of integrated risk management research within the context of this framework, and identify potentially fruitful directions for future research. The framework of supply chain risk management proposes a two‐stage action plan: a planning stage and an execution stage. Risk mitigation strategy has been the main focus of the …

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Optimal Investment Under Operational Flexibility, Risk Aversion, And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui Aug 2011

Optimal Investment Under Operational Flexibility, Risk Aversion, And Uncertainty, Michail Chronopoulos, Bert De Reyck, Afzal Siddiqui

Research Collection Lee Kong Chian School Of Business

Traditional real options analysis addresses the problem of investment under uncertainty assuming a risk-neutral decision maker and complete markets. In reality, however, decision makers are often risk averse and markets are incomplete. We confirm that risk aversion lowers the probability of investment and demonstrate how this effect can be mitigated by incorporating operational flexibility in the form of embedded suspension and resumption options. Although such options facilitate investment, we find that the likelihood of investing is still lower compared to the risk-neutral case. Risk aversion also increases the likelihood that the project will be abandoned, although this effect is less …

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Maritime Trade Evolutions And Port City Developments In Asia, X. J. Yang, Joyce M. W. Low, Loon Ching Tang Aug 2011

Maritime Trade Evolutions And Port City Developments In Asia, X. J. Yang, Joyce M. W. Low, Loon Ching Tang

Research Collection Lee Kong Chian School Of Business

Historically, almost all goods transported worldwide have been carried by sea with the current estimate stands at approximately 90 percent by volume and 70 percent by worth. Maritime industry is an important economic sector as it has a direct impact on the prosperity of a region and/or city. This chapter presents a review on maritime trade evolution in Asia from the thirteenth centuries to the post-World War II, followed by an examination on the contemporary development of some major Asia ports. From the extant port literature, a list of factors affecting port competition and development is identified and reviewed. The …

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Valuation Of Risky Projects And Other Illiquid Investments Using Portfolio Selection Models, Janne Gustafsson, Bert De Reyck, Zeger Degraeve, Ahti Salo Jun 2011

Valuation Of Risky Projects And Other Illiquid Investments Using Portfolio Selection Models, Janne Gustafsson, Bert De Reyck, Zeger Degraeve, Ahti Salo

Research Collection Lee Kong Chian School Of Business

We develop a portfolio selection framework for the valuation of projects and other illiquid investments for an investor who can invest in a portfolio of private, illiquid investment opportunities as well as in securities in financial markets, but who cannot necessarily replicate project cash flows using financial instruments. We demonstrate how project values can be solved using an inverse optimization procedure and prove several general analytical properties for project values. We also provide an illustrative example on the modeling and pricing of multiperiod projects that are characterized by managerial flexibility.

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Mixed 0-1 Linear Programs Under Objective Uncertainty: A Completely Positive Representation, Karthik Natarajan, Chung-Piaw Teo, Zhichao Zheng Jun 2011

Mixed 0-1 Linear Programs Under Objective Uncertainty: A Completely Positive Representation, Karthik Natarajan, Chung-Piaw Teo, Zhichao Zheng

Research Collection Lee Kong Chian School Of Business

In this paper, we analyze mixed 0-1 linear programs under objective uncertainty. The mean vector and the second moment matrix of the nonnegative objective coefficients is assumed to be known, but the exact form of the distribution is unknown. Our main result shows that computing a tight upper bound on the expected value of a mixed 0-1 linear program in maximization form with random objective is a completely positive program. This naturally leads to semidefinite programming relaxations that are solvable in polynomial time but provide weaker bounds. The result can be extended to deal with uncertainty in the moments and …

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Technical Appendix To "Stochastic Capacity Investment And Flexible Vs. Dedicated Technology Choice In Imperfect Capital Markets", Onur Boyabatli May 2011

Technical Appendix To "Stochastic Capacity Investment And Flexible Vs. Dedicated Technology Choice In Imperfect Capital Markets", Onur Boyabatli

Research Collection Lee Kong Chian School Of Business

Technical appendix with proofs for the technical statements in the article: Stochastic capacity investment and flexible vs. dedicated technology choice in imperfect capital markets. (2011). Management Science, 57 (12), 2163 - 2179. https://doi.org/10.1287/mnsc.1110.1395

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Leveraging Complex Event Processing For Smart Hospitals Using Rfid, Wen Yao, Chao-Hsien Chu, Zang Li May 2011

Leveraging Complex Event Processing For Smart Hospitals Using Rfid, Wen Yao, Chao-Hsien Chu, Zang Li

Research Collection School Of Computing and Information Systems

RFID technology has been examined in healthcare to support a variety of applications such as patient identification and monitoring, asset tracking, and patient–drug compliance. However, managing the large volume of RFID data and understanding them in the medical context present new challenges. One effective solution for dealing with these challenges is complex event processing (CEP), which can extract meaningful events for context-aware applications. In this paper, we propose a CEP framework to model surgical events and critical situations in an RFID-enabled hospital. We have implemented a prototype system with the proposed approach for surgical management and conducted performance evaluations to …

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Understanding Port Choice Behaviour: A Network Perspective, Loon Ching Tang, Joyce M. W. Low, Shao Wei Lam Mar 2011

Understanding Port Choice Behaviour: A Network Perspective, Loon Ching Tang, Joyce M. W. Low, Shao Wei Lam

Research Collection Lee Kong Chian School Of Business

A novel Network-based Integrated Choice Evaluation (NICE) model is developed to enhance the multinomial logit preference (MNL) model that is widely employed in the existing port choice literature. The NICE model integrates the element of port service network with observational port attributes to identify important quality characteristics on which liner shipping companies base their port choices. An empirical study of the proposed model is conducted through the service schedules of three established liner shipping companies. Results show that port efficiency and scale economies are the more important dimensions influencing liner shipping companies’ selection of major Asian ports. Nevertheless, it is …

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Technical Appendix To "Integrating Long-Term And Short-Term Contracting In Beef Supply Chains", Onur Boyabatli, Paul R. Kleindorfer, Stephen R. Koontz Mar 2011

Technical Appendix To "Integrating Long-Term And Short-Term Contracting In Beef Supply Chains", Onur Boyabatli, Paul R. Kleindorfer, Stephen R. Koontz

Research Collection Lee Kong Chian School Of Business

Technical appendix with proofs for propositions in the article: Integrating long-term and short-term contracting in beef supply chains. (2011). Management Science, 57 (10), 1771-1787. https://doi.org/10.1287/mnsc.1110.1362

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Consolidating Or Non-Consolidating Queues: A Game Theoretic Queuing Model With Holding Costs, Kwan Eng Wee, Ananth Iyer Jan 2011

Consolidating Or Non-Consolidating Queues: A Game Theoretic Queuing Model With Holding Costs, Kwan Eng Wee, Ananth Iyer

Research Collection Lee Kong Chian School Of Business

We consider a two-server queueing system in which the servers choose their service rate based on the demand and holding cost allocation scheme offered by the demand generating entity. We provide an optimal holding cost allocation scheme that leads to the maximum possible service rate for each of a pooled and a split system. Our results suggest that careful allocation of holding costs can create incentives that enable minimum turnaround times using a common queue.

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A Petri Net-Based Approach To Reconfigurable Manufacturing Systems Modeling, Y. Geng, A. Lim, H. Ma, Brian Rodrigues Jan 2011

A Petri Net-Based Approach To Reconfigurable Manufacturing Systems Modeling, Y. Geng, A. Lim, H. Ma, Brian Rodrigues

Research Collection Lee Kong Chian School Of Business

Reconfigurable manufacturing systems (RMSs) have been used to provide manufacturing companies with the required capacities and capabilities, when needed. Recognizing (1) the importance of dynamic modeling and visualization in decision making support in RMSs and (2) the limitations of the existing studies, we model RMSs based on Petri net (PN) techniques with focus on the process of reconfiguring system elements while considering constraints and system performance. In response to the modeling difficulties identified, a new formalism of colored timed PNs is introduced. In conjunction with colored tokens and timing in colored PNs and timed PNs, we further define a reconfiguration …

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Procurement Risk Management In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Steve R. Koontz Jan 2011

Procurement Risk Management In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Steve R. Koontz

Research Collection Lee Kong Chian School Of Business

This chapter develops the theoretical model and provides the optimal solution for the procurement portfolio of the packer. It describes the computational results for the above model based on data for the U.S. beef industry described in the GIPSA Report, and complemented by industry demand and supply studies. The chapter determines the impact on the optimal procurement portfolio of spot price and demand uncertainty, the degree of substitution between products in final markets, as well as the cost characteristics of the packer and the nature of quality and cost differences in the contract and spot markets. It provides insights about …

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Hybrid Time-Frequency Domain Analysis For Inverter-Fed Induction Motor Fault Detection, T. W. Chua, W. W. Tan, Zhaoxia Wang, C. S. Chang Jul 2010

Hybrid Time-Frequency Domain Analysis For Inverter-Fed Induction Motor Fault Detection, T. W. Chua, W. W. Tan, Zhaoxia Wang, C. S. Chang

Research Collection School Of Computing and Information Systems

The detection of faults in an induction motor is important as a part of preventive maintenance. Stator current is one of the most popular signals used for utility-supplied induction motor fault detection as a current sensor can be installed nonintrusively. In variable speeds operation, the use of an inverter to drive the induction motor introduces noise into the stator current so stator current based fault detection techniques become less reliable. This paper presents a hybrid algorithm, which combines time and frequency domain analysis, for broken rotor bar and bearing fault detection. Cluster information obtained by using Independent Component Analysis (ICA) …

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Effect Of Credit Ratings On Airport Financing And Management, Kazusei Kato, Koichiro Tezuka, Joyce M. W. Low Jul 2010

Effect Of Credit Ratings On Airport Financing And Management, Kazusei Kato, Koichiro Tezuka, Joyce M. W. Low

Research Collection Lee Kong Chian School Of Business

This paper analyzes the effect of airport ownership structure on management efficiency as reflected through their credit ratings. A game-theoretical model is proposed to examine the role of credit ratings in mitigating the moral hazard problem of public-owned airports. The analytical results derived from the model are then used to supplement a supporting case study. Notwithstanding the fact that the less competitive environment of a public-owned entity and its credit ratings might bring some welfare loss , this research concludes that public-owned airports have some advantages.

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Optimal And Heuristics Policies For A Multiechelon Inventory Problem With Secondary Market Sales, Alexandar Angelus Jun 2010

Optimal And Heuristics Policies For A Multiechelon Inventory Problem With Secondary Market Sales, Alexandar Angelus

Research Collection Lee Kong Chian School Of Business

Most research on supply chain management deals with settings where firms do not voluntarily get rid of inventory in the system. Since voluntary inventory reductions are often observed in practice, in this paper, we propose a (multi-echelon) model where the firm can dispose of excess stock through sales in the secondary market at each stage in the supply chain. What are called nested echelon base stock policies are shown to be optimal. Secondary market sales complicate the structure of the system, so that the classical Clark and Scarf (1960) approach no longer applies. Nevertheless, we identify features of the optimal …

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Self-Organizing Logistics Systems, John J. Bartholdi, Iii, Donald D. Eisenstein, Yun Fong Lim Apr 2010

Self-Organizing Logistics Systems, John J. Bartholdi, Iii, Donald D. Eisenstein, Yun Fong Lim

Research Collection Lee Kong Chian School Of Business

When a logistics system is “self-organizing” it can function without significant intervention by managers, engineers, or software control. The social insects, such as ants or bees, provide models of self-organizing logistics systems that may be profitably emulated. We illustrate some of these ideas for the problem of balancing assembly lines.

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Uncovering The Dirty Secrets Of A Food Paradise: Young Journalists Go Undercover, Estelle Low, Miak Aw Jan 2010

Uncovering The Dirty Secrets Of A Food Paradise: Young Journalists Go Undercover, Estelle Low, Miak Aw

Social Space

Singapore is universally known as a food paradise, but far less is known about the enormous amount of waste generated daily by individuals, supermarkets, food outlets and hotels. 20-something investigative journalists Miak Aw and Estelle Low go undercover to shed light on how much we waste as a nation and why this needs to change.

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A Remanufacturing News-Vendor With Pricing And Take-Back Pricing, Keyu Lu Jan 2010

A Remanufacturing News-Vendor With Pricing And Take-Back Pricing, Keyu Lu

Dissertations and Theses Collection (Open Access)

This paper analyzes the problem of a remanufacturing news-vendor with selling and take-back price decision. In our model, the remanufacturer decides selling price, take-back price, and order quantity for new materials. She then uses the stochastic take-back quantity and the new material to meet the stochastic demand comparably to a news vendor setting. We allow demand and take-back supply to be correlated. In this thesis, we study a production problem with dual input sources: raw materials and recycled or remanufactured take-back items. To answer when mixed-sourcing is best, we analyze the model under deterministic setting first, provide criteria for different …

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Aircraft Leasing With Contracts, Qiong Zuo Jan 2010

Aircraft Leasing With Contracts, Qiong Zuo

Dissertations and Theses Collection (Open Access)

We study a problem of rental rate pricing and rental contract designing in aircraft leasing industry. In a framework of Stackelberg game, the system is composed of an airline company (carrier) and an aircraft leasing company (lessor). Acting as the leader, the lessor announces daily rental rates and/or provides long-term contracts on a finite horizon with multiple periods. For each period, the carrier determines the aircraft leasing number to adjust the flight capacity, and applies a dynamic pricing policy for air-tickets based on a seasonally stochastic demand and some economic factor, such as oil price. We find the optimal policies …

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Dynamic Quay Crane Allocation, Yan Zhang Jan 2010

Dynamic Quay Crane Allocation, Yan Zhang

Dissertations and Theses Collection (Open Access)

We introduce simple rules for quay cranes to handle containers along a berth where vessels arrive continuously in time. We first analyze a model where workload is continuous. Our analysis shows that if the system is configured properly, it will always converge to a state with the maximum possible throughput regardless of external disruptions or changes in workload. Numerical simulations based on a discrete workload model suggest that, by following the same rules, the system can still converge to state with throughput that is very close to its upper bound.

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