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Articles 211 - 240 of 276
Full-Text Articles in Operations and Supply Chain Management
Procurement Risk Management In Beef Supply Chains, Onur Boyabatli, Paul R. Kleindorfer, Steve R. Koontz
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 …
Effect Of Credit Ratings On Airport Financing And Management, Kazusei Kato, Koichiro Tezuka, Joyce M. W. Low
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.
Optimal And Heuristics Policies For A Multiechelon Inventory Problem With Secondary Market Sales, Alexandar Angelus
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 …
Self-Organizing Logistics Systems, John J. Bartholdi, Iii, Donald D. Eisenstein, Yun Fong Lim
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.
Effective Project Planning: Making The Most Of Project Planning Tools, Bert De Reyck
Effective Project Planning: Making The Most Of Project Planning Tools, Bert De Reyck
Research Collection Lee Kong Chian School Of Business
Although project planning tools such as Microsoft Project and Primavera have become indispensable tools for supporting the project planning process in a wide variety of industries and organizations, many companies do not use these tools in the best possible way, resulting in disappointment and frustration as well as a lack of effective project management support. In this article, we propose several guidelines on what to do,
Nested Coloured Timed Petri Nets For Production Configuration Of Product Families, Lianfeng Zhang, Brian Rodrigues
Nested Coloured Timed Petri Nets For Production Configuration Of Product Families, Lianfeng Zhang, Brian Rodrigues
Research Collection Lee Kong Chian School Of Business
Production configuration is as an effective technique to deal with product variety while maintaining production stability and efficiency. It involves a diverse set of process elements (e.g., machines, operations), a high variety of component parts and assemblies and many constraints arising from product and process variety. Production configuration entails the selection and subsequent arrangement of process elements into complete production processes and the final evaluation of configured multiple alternatives. To better understand production configuration and its implementation, we study the underlying logic for configuring production processes using a dynamic modelling and visualisation approach. This is accomplished by developing a new …
How To Optimize Knowledge Sharing In A Factory Network, Arnoud De Meyer, Ann Vereecke
How To Optimize Knowledge Sharing In A Factory Network, Arnoud De Meyer, Ann Vereecke
Research Collection Lee Kong Chian School Of Business
Designing a manufacturing network entails devising and managing flows of innovation and know-how—not just determining what to produce and where—and organizing the resulting logistics flows.
Deterministic Chaos In A Model Of Discrete Manufacturing, John J. Iii Bartholdi, Donald D. Eisenstein, Yun Fong Lim
Deterministic Chaos In A Model Of Discrete Manufacturing, John J. Iii Bartholdi, Donald D. Eisenstein, Yun Fong Lim
Research Collection Lee Kong Chian School Of Business
A natural extension of the bucket brigade model of manufacturing is capable of chaotic behavior in which the product intercompletion times are, in effect, random, even though the model is completely deterministic. This is, we believe, the first proven instance of chaos in discrete manufacturing. Chaotic behavior represents a new challenge to the traditional tools of engineering management to reduce variability in production lines. Fortunately, if configured correctly, a bucket brigade assembly line can avoid such pathologies.
Modelling Reconfigurable Manufacturing Systems With Coloured Timed Petri Nets, Lianfeng Zhang, Brian Rodrigues
Modelling Reconfigurable Manufacturing Systems With Coloured Timed Petri Nets, Lianfeng Zhang, Brian Rodrigues
Research Collection Lee Kong Chian School Of Business
Reconfigurable manufacturing systems (RMSs) have been acknowledged as a promising means of providing manufacturing companies with the required production capacities and capabilities. This is accomplished through reconfiguring system elements over time for a diverse set of individualised products often required in small quantities and with short delivery lead times. Recognising the importance of dynamic modelling and visualisation in decision-making support in RMSs and the limitations of current research, we propose in this paper to model RMSs with Petri net (PN) techniques with focus on the process of reconfiguring system elements while considering constraints and system performance. In view of the …
Towards A Single European Sky, Yael Gruksha-Cockayne, Bert De Reyck
Towards A Single European Sky, Yael Gruksha-Cockayne, Bert De Reyck
Research Collection Lee Kong Chian School Of Business
We describe an integrated decision-making framework and model that we developed to aid EUROCONTROL, the European air traffic management organization, in its vital role of constructing a single unified European sky. Combining multicriteria decision analysis with large-scale optimization methods, such as integer programming and column generation using branch and price, our model facilitates the process by which the numerous European aviation stakeholders evaluate and select technological enhancements to the European air traffic management system. We consider multiple objectives and potential disagreements by stakeholders regarding the impact of proposed system enhancements and allow for different priorities for each key performance area. …
Maximizing Throughput Of Bucket Brigades On Discrete Work Stations, Yun Fong Lim, Kum Khiong Yang
Maximizing Throughput Of Bucket Brigades On Discrete Work Stations, Yun Fong Lim, Kum Khiong Yang
Research Collection Lee Kong Chian School Of Business
One way to coordinate workers along an assembly line that has fewer workers than work stations is to form a bucket brigade. The throughput of a bucket brigade on discrete work stations may be compromised due to blocking even if workers are sequenced from slowest to fastest. For a given work distribution on the stations we find policies that maximize the throughput of the line. When workers have very different production rates, fully cross-training the workers and sequencing them from slowest to fastest is almost always the best policy. This policy outperforms other policies for most work distributions except for …
A Petri Net-Based Approach To Reconfigurable Manufacturing Systems Modeling, Linda L. Zhang, Brian Rodrigues
A Petri Net-Based Approach To Reconfigurable Manufacturing Systems Modeling, Linda L. Zhang, 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 …
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We study how innovators can optimally design licensing contracts when there is incomplete information on the licensee's valuation of the innovation, and limited control over the licensee's development efforts. A licensing contract typically contains an up-front payment, milestone payments at successful completion of a project phase, and royalties on sales. We use principal-agent models to formulate the licensor's contracting problem, and we find that under adverse selection, the optimal contract structure changes with the licensee's valuation of the innovation. As the licensee's valuation increases, the licensor's optimal level of involvement in the development-directly or through royalties-should decrease. Only a risk-averse …
Dynamic Allocation Of Airline Check-In Counters: A Queueing Optimisation Approach, Mahmut Parlar, Sharafali Moosa
Dynamic Allocation Of Airline Check-In Counters: A Queueing Optimisation Approach, Mahmut Parlar, Sharafali Moosa
Research Collection Lee Kong Chian School Of Business
This paper was motivated by an observation in an international airport with regard to allocation of resources for check-in counters. In an exclusive check-in counter system, each flight has a dedicated number of counters that will be open until at least a half-hour before the scheduled departure of that flight. Currently, in many of the airports around the world, the decision to open or close check-in counters is done on an ad hoc basis by human schedulers. In doing so, the schedulers are almost always forced to perform a balancing act in meeting the quality of service stipulated by the …
An Integrated Decision– Making Approach For Improving European Air Traffic Management, Yael Gruksha-Cockayne, Bert De Reyck, Zeger Degraeve
An Integrated Decision– Making Approach For Improving European Air Traffic Management, Yael Gruksha-Cockayne, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We develop a multistakeholder, multicriteria decision-making framework for Eurocontrol, the European air traffic management organization, for evaluating and selecting operational improvements to the air traffic management system. The selected set of improvements will form the master plan of the Single European Sky initiative for harmonizing air traffic, in an effort to cope with the forecasted increase in air traffic, while maintaining safety, protecting the environment, and improving predictability and efficiency. The challenge is to select the set of enhancements such that the required performance targets are met and all key stakeholders are committed to the decisions. In this paper, we …
Research And Development Project Valuation And Licensing Negotiations At Phytopharm Plc, Pascale Crama, Bert De Reyck, Zeger Degraeve, Wang Chong
Research And Development Project Valuation And Licensing Negotiations At Phytopharm Plc, Pascale Crama, Bert De Reyck, Zeger Degraeve, Wang Chong
Research Collection Lee Kong Chian School Of Business
We describe a research and development project-valuation model developed for Phytopharm plc, a pharmaceutical development and functional food company based in Cambridgeshire, United Kingdom. Phytopharm uses the model to value the projects in its research and development portfolio, and in licensing negotiations with potential product development and marketing partners. We include different valuation methods, including net present value, decision analysis, and Monte Carlo simulation. We also consider the technological risks of product development, as well as the uncertainty of commercial success. In addition to determining a value for a product in development, the model proposes appropriate licensing contract structures. A …
Chaos And Convergence On Bucket Brigade Assembly Lines, John J. Bartholdi, Iii, Donald D. Eisenstein, Yun Fong Lim
Chaos And Convergence On Bucket Brigade Assembly Lines, John J. Bartholdi, Iii, Donald D. Eisenstein, Yun Fong Lim
Research Collection Lee Kong Chian School Of Business
One way to coordinate the efforts of workers along an assembly line that has fewer workers than work stations is to form a bucket brigade. Each worker in a bucket brigade simultaneously assembles a single item (an instance of the product) along the line. The worker carries the item from work station to work station until either he hands of his item to a downstream co-worker or he completes the work for his item. The worker then walks back to get another item, either from his co-worker upstream or from a buffer at the beginning of the line. The most …
Machine Scheduling Performance With Maintenance And Failure, Yunsong Guo, Andrew Lim, Brian Rodrigues, Shuang Yu
Machine Scheduling Performance With Maintenance And Failure, Yunsong Guo, Andrew Lim, Brian Rodrigues, Shuang Yu
Research Collection Lee Kong Chian School Of Business
In manufacturing control, machine scheduling research has mostly dealt with problems either without maintenance or with deterministic maintenance when no failure can occur. This can be unrealistic in practical settings. In this work, an experimental model is developed to evaluate the effect of corrective and preventive maintenance schemes on scheduling performance in the presence of machine failure where the scheduling objective is to minimize schedule duration. We show that neither scheme is clearly superior, but that the applicability of each depends on several system parameters as well as the scheduling environment itself. Further, we show that parameter values can be …
A Comparison Of Cross Training Policies In Different Job Shops, Kum Khiong Yang
A Comparison Of Cross Training Policies In Different Job Shops, Kum Khiong Yang
Research Collection Lee Kong Chian School Of Business
This research compares a set of cross-training policies represented by different numbers of cross-trained workers, additional skills per cross-trained worker, and additional machines. The policies are evaluated in job shops, represented by different efficiency losses, labour utilization, variability in processing times, and worker absenteeism. Our results show that adding one machine in each department and cross-training one or two workers from each department with one additional skill is generally sufficient to realize most of the benefits of cross-training. Cross-training is thus beneficial in most job shops, unless the cost of the minimal training and spare machines is high. Our results …
A Framework For Supplier Relationship Management (Srm), Sabine Moeller, Martin Fassnacht, Sonja Klose
A Framework For Supplier Relationship Management (Srm), Sabine Moeller, Martin Fassnacht, Sonja Klose
Research Collection Lee Kong Chian School Of Business
We perceive growing expectations concerning the impact of the purchasing function and the suppliers on overall value creation of a firm. Purchasing is the gateway between the external suppliers and the internal functions creating and delivering value for customers. This shift has incredibly enhanced the importance of the supplier base. While the old arm length collaboration is perfectly suitable for some suppliers others should be treated as close partners. However, an overall framework of Supplier Relationship Management (SRM) integrating such different types of suppliers along the course of the relationship remains desirable. Our research aims to contribute by developing a …
A Typology Of Plants In Global Manufacturing Networks, Ann Vereecke, Roland Van Dierdonck, Arnoud De Meyer
A Typology Of Plants In Global Manufacturing Networks, Ann Vereecke, Roland Van Dierdonck, Arnoud De Meyer
Research Collection Lee Kong Chian School Of Business
The purpose of this paper is to propose a new, empirically derived typology of plants in the international manufacturing network of multinational companies. This typology is based on the knowledge flows between the plants. In our research, network analysis has been used as a methodology for understanding the position of plants in international manufacturing networks. The focus has been primarily on the intangible knowledge network, and secondarily on the physical, logistic network. Our analysis leads to four types of plants with different network roles: the isolated plants, the receivers, the hosting network players, and the active network players. Our analysis …
Optimal Order Quantities With Remanufacturing Across New Product Generations, Shantanu Bhattacharya, V Daniel R. Guide, Luk N. Van Wassenhove
Optimal Order Quantities With Remanufacturing Across New Product Generations, Shantanu Bhattacharya, V Daniel R. Guide, Luk N. Van Wassenhove
Research Collection Lee Kong Chian School Of Business
We address the problem of determining the optimal retailer order quantities from a manufacturer who makes new products in conjunction with ordering remanufactured products from a remanufacturer using used and unsold products from the previous product generation. Specifically, we determine the optimal order quantity by the retailer for four systems of decision-making: (a) the three firms make their decisions in a coordinated fashion, (b) the retailer acts independently while the manufacturer and remanufacturer coordinate their decisions, (c) the remanufacturer acts independently while the retailer and manufacturer coordinate their decisions, and (d) all three firms act independently. We model the four …
The Role Of European Governments In The Digital Economy, Arnoud Cyriel Leo De Meyer
The Role Of European Governments In The Digital Economy, Arnoud Cyriel Leo De Meyer
Research Collection Lee Kong Chian School Of Business
What is the role of government in the digital economy? It is not our intention to go into an in-depth ideological debate on whether governments should intervene in the business sector. We will try to adopt a pragmatic approach and explore what already happens in practice. It is up to the reader to make a judgment to what extent the governments should be involved in the ICT sector. There is enough indication that, due to network externality effects, governments need to take on an active role in stimulating an e-environment to jump-start the move toward a higher level of e-readiness.In …
Have We Taught Our Students The Right Stuff?, Jaydeep Balakrishnan, Kum Khiong Yang
Have We Taught Our Students The Right Stuff?, Jaydeep Balakrishnan, Kum Khiong Yang
Research Collection Lee Kong Chian School Of Business
Operations Management involves managing the resources that are required to convert inputs to outputs. These resources include materials, capital and people which requires decision making within the operations function to be cross functional (Schroeder, 2000). The resulting impact is that whenever an operations manager makes a decision, he or she should be cognizant of its impact on other areas within the firm, such as finance, marketing and human resources, as well as the external partners such as suppliers and customers. Our question is whether Production and Operations Management (POM) educators are training students adequately to make the necessary cross functional …
The Effect Of Remanufacturing On Procurement Decisions For Resellers In Secondary Markets, Andreas Robotis, Shantanu Bhattacharya, Luk N. Van Wassenhove
The Effect Of Remanufacturing On Procurement Decisions For Resellers In Secondary Markets, Andreas Robotis, Shantanu Bhattacharya, Luk N. Van Wassenhove
Research Collection Lee Kong Chian School Of Business
The role of remanufacturing as a competitive tool for firms has been reflected in a number of studies to show that remanufacturing can reduce the unit cost of production by reusing components. However, the fact that remanufacturing can be used as a strategic tool for serving secondary markets as well has not been acknowledged in the literature. In this paper, we study the use of remanufacturing as a tool to serve secondary markets. Specifically, we model the case of a reseller who procures used products based on an older generation of technology from an advanced market and then uses one …
Interaction Of Technology Choice And Financial Risk Management Under Costly External Financing, Onur Boyabatli, L. Beril Toktay
Interaction Of Technology Choice And Financial Risk Management Under Costly External Financing, Onur Boyabatli, L. Beril Toktay
Research Collection Lee Kong Chian School Of Business
This paper analyzes the integrated operational and financial risk management portfolio of a firm that determines whether to use flexible or dedicated technology and whether to undertake financial risk management or not. The risk management value of flexible technology is due to its risk pooling benefit under demand uncertainty. The financial risk management motivation comes from the existence of deadweight costs of external financing due to capital market imperfections. Financial risk management has a fixed cost, while technology investment incurs both fixed and variable costs. The firm's limited budget, which depends partly on a tradable asset, can be increased by …
K-Center Problems With Minimum Coverage, Andrew Lim, Brian Rodrigues, Fan Wang, Zhou Xu
K-Center Problems With Minimum Coverage, Andrew Lim, Brian Rodrigues, Fan Wang, Zhou Xu
Research Collection Lee Kong Chian School Of Business
In this work, we study an extension of the k-center facility location problem, where centers are required to service a minimum of clients. This problem is motivated by requirements to balance the workload of centers while allowing each center to cater to a spread of clients. We study three variants of this problem, all of which are shown to be -hard. In-approximation hardness and approximation algorithms with factors equal or close to the best lower bounds are provided. Generalizations, including vertex costs and vertex weights, are also studied.
Managing Learning Resources For Consecutive Product Generations, Lieven Demeester, Mei Qi
Managing Learning Resources For Consecutive Product Generations, Lieven Demeester, Mei Qi
Research Collection Lee Kong Chian School Of Business
In this paper, we study how a firm should allocate its learning resources when it is concurrently producing two consecutive generations of one product. We define learning resources as scarce firm-specific resources that a firm allocates towards the improvement of the cost, quality or timeliness of its existing products and processes. We use empirically tested models for demand substitution and learning curves to formulate this problem, and we present our results as propositions with regard to the optimal time at which a firm should direct all its learning resources to the newer product generation, depending on the substitution rate of …
The Role Of Manufacturing Flexibility On Product Platform Development, Soumen Ghosh, Byung Joon Park
The Role Of Manufacturing Flexibility On Product Platform Development, Soumen Ghosh, Byung Joon Park
Research Collection Lee Kong Chian School Of Business
In recent years firms from a range of industries have responded to growing market uncertainty by investing heavily in manufacturing flexibility. Manufacturing Flexibility is understood as process flexibility, that is a process that results from being able to build different types of products on the same production line at the same time. One benefit of manufacturing flexibility is the reduction of change over cost from building one product to another. Flexible manufacturing also relieves the problem of overcapacity, since excessive overcapacity could be avoided through the introduction of flexible manufacturing plants. Recently, firms have examined a new concept of enabling …
Port Yard Storage Optimization, Ping Chen, Zhaohui Fu, Andrew Lim, Brian Rodrigues
Port Yard Storage Optimization, Ping Chen, Zhaohui Fu, Andrew Lim, Brian Rodrigues
Research Collection Lee Kong Chian School Of Business
The port yard storage optimization problem (PYSOP) originates from space allocation needs at the Port of Singapore. Space allocated to cargo is to be minimized in a designated yard within a time interval. The problem is akin to a packing problem in space and time, but where shapes packed and constraints are particular to port operations. Further, space requests can change within the time interval in which it is requested. This basic problem is generic to port operations and may find applications elsewhere. The PYSOP is NP-hard, but we propose a number of metaheuristics. Extensive experiments were conducted and good …