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Analytical Techniques in the Assessment of Credit Risk by Michael Doumpos; Christos Lemonakis; Dimitrios Niklis; Constantin Zopounidis
Publication Date: 2018-10-18
This book provides a unique, focused introduction to the analytical skills, methods and techniques in the assessment of credit risk that are necessary to tackle and analyze complex credit problems. It employs models and techniques from operations research and management science to investigate more closely risk models for applications within the banking industry and in financial markets. Furthermore, the book presents the advances and trends in model development and validation for credit scoring/rating, the recent regulatory requirements and the current best practices. Using examples and fully worked case applications, the book is a valuable resource for advanced courses in financial risk management, but also helpful to researchers and professionals working in financial and business analytics, financial modeling, credit risk analysis, and decision science.
Applications of Operations Research and Management Science for Military Decision Making by William P. Fox; Robert Burks
Publication Date: 2019-09-05
Based on many years of applied research, modeling and educating future decision makers, the authors have selected the critical set of mathematical modeling skills for decision analysis to include in this book. The book focuses on the model formulation and modeling building skills, as well as the technology to support decision analysis. The authors cover many of the main techniques that have been incorporated into their three-course sequence in mathematical modeling for decision making in the Department of Defense Analysis at the Naval Postgraduate School. The primary objective of this book is illustrative in nature. It begins with an introduction to mathematical modeling and a process for formally thinking about difficult problems, illustrating many scenarios and illustrative examples. The book incorporates the necessary mathematical foundations for solving these problems with military applications and related military processes to reinforce the applied nature of the mathematical modeling process.
Behavioral Operational Research by Leroy White (Editor); Martin Kunc (Editor); Katharina Burger (Editor); Jonathan Malpass (Editor)
Publication Date: 2019-11-07
This edited collection addresses the question of which capabilities and competencies enable Behavioral Operational Research to provide sustained improvement to decision processes. The aim is to show how a focus on capability and competency will not only meet short-term requirements for problem solving and decision support, but also build a solid foundation for the future. The contributors present recent advances in Behavioral OR, with a focus on the ways in which users of models deal with incomplete and imprecise information, subjective boundaries and uncertainty. These chapters are structured around three key dimensions of BOR: capabilities, cognition and aspects of practice.
Contributions to Location Analysis by H. A. Eiselt (Editor); Vladimir Marianov (Editor)
Publication Date: 2019-10-16
This book is a volume in honor of Zvi Drezner's 75th birthday. Professor Drezner is a leading scholar in location science. He received his BSc degree in Mathematics in 1965 and his PhD. in Computer Science ten years later, both from the Technion in Haifa, Israel. Since 1978 he has published in excess of 300 papers in refereed journals and books. He has received many honors, among them the University Outstanding Professor in 2005-6, the Outstanding Research Award (both from Cal State-Fullerton), the Location Analysis Lifetime Achievement Award from the Society for Location Analysis, and was named a Lifetime Fellow in INFORMS. Zvi has worked in a variety of fields, but most prominently in continuous location models. His main contributions include a 1982 paper on competitive location analysis, which was the first contribution to formally use the von Stackelberg "leader-follower" concept in the plane, contributions in 1989 (along with many others) on the Weber problem, and work with Oded Berman on the p-median under uncertainty in 2008. He has also enriched the literature by many contributions that devise genetic algorithms and tabu search techniques (both heuristic algorithms), as well as global optimization techniques, such as the "big-triangle-small-triangle" method, applied to location problems. The chapters of the book have been chosen to provide readers with a large variety of topics in the field of location science, which normally are available only in many different specialist journals. In addition to easily approachable surveys, the contributions, written by the top specialists in the field, present the latest results as well.
Data Science and Digital Business by Fausto Pedro García Márquez (Editor); Benjamin Lev (Editor)
Publication Date: 2019-01-16
This book combines the analytic principles of digital business and data science with business practice and big data. The interdisciplinary, contributed volume provides an interface between the main disciplines of engineering and technology and business administration. Written for managers, engineers and researchers who want to understand big data and develop new skills that are necessary in the digital business, it not only discusses the latest research, but also presents case studies demonstrating the successful application of data in the digital business.
Decision-Making in Humanitarian Operations by Sebastián Villa (Editor); Jaime Andrés Castañeda (Editor); Gloria Urrea (Editor); Erik R. Larsen (Editor)
Publication Date: 2018-12-06
This book brings together research in humanitarian operations, behavioral operations and dynamic simulation. Part I outlines the main characteristics and strategic challenges of humanitarian organizations in preparedness, knowledge management, climate change and issues related to refugees and social inclusion. Part II gives an introduction to behavioral operations and experiments in single- and multi-agent settings, followed by discussions on quantal theory, framing effect and possible applications in the humanitarian sector. Part III introduces system dynamics and agent-based modeling and discusses how these techniques can be used to study dynamics and decision-making in humanitarian operations. This book is unique in providing a holistic view of the decision-making process and challenges in the humanitarian sector.
Decision Making under Deep Uncertainty by Vincent A. W. J. Marchau (Editor); Warren E. Walker (Editor); Pieter Bloemen (Editor); Steven W. Popper (Editor)
Publication Date: 2019-04-15
This open access book focuses on both the theory and practice associated with the tools and approaches for decisionmaking in the face of deep uncertainty. It explores approaches and tools supporting the design of strategic plans under deep uncertainty, and their testing in the real world, including barriers and enablers for their use in practice. The book broadens traditional approaches and tools to include the analysis of actors and networks related to the problem at hand. It also shows how lessons learned in the application process can be used to improve the approaches and tools used in the design process. The book offers guidance in identifying and applying appropriate approaches and tools to design plans, as well as advice on implementing these plans in the real world. For decisionmakers and practitioners, the book includes realistic examples and practical guidelines that should help them understand what decisionmaking under deep uncertainty is and how it may be of assistance to them. Decision Making under Deep Uncertainty: From Theory to Practice is divided into four parts. Part I presents five approaches for designing strategic plans under deep uncertainty: Robust Decision Making, Dynamic Adaptive Planning, Dynamic Adaptive Policy Pathways, Info-Gap Decision Theory, and Engineering Options Analysis. Each approach is worked out in terms of its theoretical foundations, methodological steps to follow when using the approach, latest methodological insights, and challenges for improvement. In Part II, applications of each of these approaches are presented. Based on recent case studies, the practical implications of applying each approach are discussed in depth. Part III focuses on using the approaches and tools in real-world contexts, based on insights from real-world cases. Part IV contains conclusions and a synthesis of the lessons that can be drawn for designing, applying, and implementing strategic plans under deep uncertainty, as well as recommendations for future work. The publication of this book has been funded by the Radboud University, the RAND Corporation, Delft University of Technology, and Deltares.
Decision Science in Action by Kusum Deep (Editor); Madhu Jain (Editor); Said Salhi (Editor)
Publication Date: 2018-09-22
This book provides essential insights into a range of newly developed numerical optimization techniques with a view to solving real-world problems. Many of these problems can be modeled as nonlinear optimization problems, but due to their complex nature, it is not always possible to solve them using conventional optimization theory. Accordingly, the book discusses the design and applications of non-conventional numerical optimization techniques, including the design of benchmark functions and the implementation of these techniques to solve real-world optimization problems. The book's twenty chapters examine various interesting research topics in this area, including: Pi fraction-based optimization of the Pantoja-Bretones-Martin (PBM) antenna benchmarks; benchmark function generators for single-objective robust optimization algorithms; convergence of gravitational search algorithms on linear and quadratic functions; and an algorithm for the multi-variant evolutionary synthesis of nonlinear models with real-valued chromosomes. Delivering on its promise to explore real-world scenarios, the book also addresses the seismic analysis of a multi-story building with optimized damper properties; the application of constrained spider monkey optimization to solve portfolio optimization problems; the effect of upper body motion on a bipedal robot's stability; an ant colony algorithm for routing alternate-fuel vehicles in multi-depot vehicle routing problems; enhanced fractal dimension-based feature extraction for thermal face recognition; and an artificial bee colony-based hyper-heuristic for the single machine order acceptance and scheduling problem. The book will benefit not only researchers, but also organizations active in such varied fields as Aerospace, Automotive, Biotechnology, Consumer Packaged Goods, Electronics, Finance, Business & Banking, Oil, Gas & Geosciences, and Pharma, to name a few.
Epidemic-Logistics Modeling: a New Perspective on Operations Research by Ming Liu; Jie Cao; Jing Liang; Mingjun Chen
Publication Date: 2019-10-15
This book is the first work to conduct the emergency logistics optimization problem under the epidemic environment (whether natural or man-made), which provides a new perspective for the application of optimization theory. In this book, the research methods involve epidemic dynamics, scenario-based emergency decision-making method, big data which combines the traditional and emerging technologies. The authors take epidemic outbreak as the research object and deeply integrate the epidemic spread model with the optimization model of emergency resource scheduling, which opens up a novel application area of operations research.
Essentials of Business Analytics by Bhimasankaram Pochiraju (Editor); Sridhar Seshadri (Editor)
Publication Date: 2019-07-30
This comprehensive edited volume is the first of its kind, designed to serve as a textbook for long-duration business analytics programs. It can also be used as a guide to the field by practitioners. The book has contributions from experts in top universities and industry. The editors have taken extreme care to ensure continuity across the chapters. The material is organized into three parts: A) Tools, B) Models and C) Applications. In Part A, the tools used by business analysts are described in detail. In Part B, these tools are applied to construct models used to solve business problems. Part C contains detailed applications in various functional areas of business and several case studies. Supporting material can be found in the appendices that develop the pre-requisites for the main text. Every chapter has a business orientation. Typically, each chapter begins with the description of business problems that are transformed into data questions; and methodology is developed to solve these questions. Data analysis is conducted using widely used software, the output and results are clearly explained at each stage of development. These are finally transformed into a business solution. The companion website provides examples, data sets and sample code for each chapter.
Excel Data Analysis by Héctor Guerrero
Publication Date: 2019-01-18
This book offers a comprehensive and readable introduction to modern business and data analytics. It is based on the use of Excel, a tool that virtually all students and professionals have access to. The explanations are focused on understanding the techniques and their proper application, and are supplemented by a wealth of in-chapter and end-of-chapter exercises. In addition to the general statistical methods, the book also includes Monte Carlo simulation and optimization. The second edition has been thoroughly revised: new topics, exercises and examples have been added, and the readability has been further improved. The book is primarily intended for students in business, economics and government, as well as professionals, who need a more rigorous introduction to business and data analytics - yet also need to learn the topic quickly and without overly academic explanations.
Games in Management Sciences by Pierre-Olivier Pineau (Editor); Simon Sigué (Editor); Sihem Taboubi (Editor)
Publication Date: 2019-08-30
This book covers a large spectrum of cutting-edge game theory applications in management science in which Professor Georges Zaccour has made significant contributions. The book consists of 21 chapters and highlights the latest treatments of game theory in various areas, including marketing, supply chains, energy and environmental management, and cyber defense. With this book, former Ph.D. students and successful research collaborators of Professor Zaccour wish to honor his many scientific achievements.
Handbook of Metaheuristics by Michel Gendreau (Editor); Jean-Yves Potvin (Editor)
Publication Date: 2018-10-02
The third edition of this handbook is designed to provide a broad coverage of the concepts, implementations, and applications in metaheuristics. The book's chapters serve as stand-alone presentations giving both the necessary underpinnings as well as practical guides for implementation. The nature of metaheuristics invites an analyst to modify basic methods in response to problem characteristics, past experiences, and personal preferences, and the chapters in this handbook are designed to facilitate this process as well. This new edition has been fully revised and features new chapters on swarm intelligence and automated design of metaheuristics from flexible algorithm frameworks. The authors who have contributed to this volume represent leading figures from the metaheuristic community and are responsible for pioneering contributions to the fields they write about. Their collective work has significantly enriched the field of optimization in general and combinatorial optimization in particular. Metaheuristics are solution methods that orchestrate an interaction between local improvement procedures and higher level strategies to create a process capable of escaping from local optima and performing a robust search of a solution space. In addition, many new and exciting developments and extensions have been observed in the last few years. Hybrids of metaheuristics with other optimization techniques, like branch-and-bound, mathematical programming or constraint programming are also increasingly popular. On the front of applications, metaheuristics are now used to find high-quality solutions to an ever-growing number of complex, ill-defined real-world problems, in particular combinatorial ones. This handbook should continue to be a great reference for researchers, graduate students, as well as practitioners interested in metaheuristics.
Handbook of Ripple Effects in the Supply Chain by Dmitry Ivanov (Editor); Alexandre Dolgui (Editor); Boris Sokolov (Editor)
Publication Date: 2019-05-02
This book offers an introduction to the ripple effect in the supply chain for a broad audience comprising recent developments. The chapters of this handbook are written by leading experts in supply chain risk management and resilience. For the first time, the chapters present in their synergy a multiple-faceted view of the ripple effect in supply chains, while considering organization, optimization, and informatics perspectives. Ripple effect describes the impact of a disruption propagation on supply chain performance, structural designs and operational parameters. The ripple effect manifests when the impact of a disruption cannot be localized and cascades along the supply chain. The resulting structural dynamics can lead to capacity and demand fulfilment downscaling and negatively influence the firm's financial and operational performance. The book delineates major features of the ripple effect and methodologies to mitigate the adverse impact of supply chain disruption propagation and to recover in case of severe disruptions. The book provides fresh insights for supply chain management and engineering regarding the following questions: - In what circumstance does one failure cause other failures? - Which structures of the supply chain are especially susceptible to the ripple effect? - What are the typical ripple effect scenarios and what are the most efficient ways to respond them? Distinctive Features: * It considers ripple effect in the supply chain from an multi-disciplinary perspective * It offers an introduction to ripple effect mitigation and recovery policies in the framework of disruption risk management in supply chains for a broad audience * It integrates management and engineering perspectives on disruption risk management in the supply chain * It presents innovative optimization and simulation models for real-life management problems * It considers examples from both industrial and service supply chains * It reveals decision-making recommendations for tackling disruption risks in the supply chain in proactive and reactive domains.
Handbook of Service Science, Volume II by Paul P. Maglio (Editor); Cheryl A. Kieliszewski (Editor); James C. Spohrer (Editor); Kelly Lyons (Editor); Lia Patrício (Editor); Yuriko Sawatani (Editor)
Publication Date: 2018-10-26
The second volume of this successful handbook represents varied perspectives on the fast-expanding field of Service Science. The novel work collected in these chapters is drawn from both new researchers who have grown-up with Service Science, as well as established researchers who are adapting their frames for the modern service context. The first Handbook of Service Science marked the emergence of Service Science when disciplinary studies of business-to-customer service systems intertwined to meet the needs of a new era of business-to-business and global service ecosystems. Today, the evolving discipline of Service Science involves advanced technologies, such as smartphones, cloud, social platforms, big data analytics, and artificial intelligence. These technologies are reshaping the service landscape, transforming both business models and public policy, ranging from retail and hospitality to transportation and communications. By looking through the eyes of today's new Service Scientists, it is anticipated that value and grand challenges will emerge from the integration of theories, methods, and techniques brought together in the first volume, but which are now rooted more deeply in service-dominant logic and systems thinking in this second volume. The handbook is divided into four parts: 1) Service Experience--On the Human-centered Nature of Service; 2) Service Systems-On the Nature of Service Interactions; 3) Service Ecosystems-On the Broad Context of Service; 4) Challenges-On Rethinking the Theory and Foundations of Service Science. The chapters add clarity on how to identify, enable, and measure service, thus allowing for new ideas and connections made to physics, design, computer science, and data science and analytics for advancing service innovation and the welfare of society. Handbook of Service Science, Volume II offers a thorough reference suitable for a wide-reaching audience including researchers, practitioners, managers, and students who aspire to learn about or to create a deeper scientific foundation for service design and engineering, service experience and marketing, and service management and innovation.
Information Measures for Hesitant Fuzzy Sets and Their Extensions by Bahram Farhadinia; Zeshui Xu
Publication Date: 2019-01-14
This book gives a thorough and systematic introduction to the latest research results on hesitant fuzzy and its extensions decision making theory. It includes five chapters: Hesitant Fuzzy Set and its Extensions, Distance Measures for Hesitant Fuzzy Sets and Their Extensions, Similarity Measures for Hesitant Fuzzy Sets and Their Extensions, Entropy Measures for Hesitant Fuzzy Sets and Their Extensions, and Application of Information Measures in Multiple Criteria Decision Making. These methodologies are also implemented in various fields such as decision making, medical diagnosis, cluster analysis, environmental management, etc. This book is suitable for the engineers, technicians, and researchers in the fields of fuzzy mathematics, operations research, information science and management science and engineering, etc. It can also be used as a textbook for postgraduate and senior-year undergraduate students of the relevant professional institutions of higher learning.
An Introduction to Computational Science by Joseph Eichholz; Allen Holder
Publication Date: 2019-07-01
This textbook provides an introduction to the growing interdisciplinary field of computational science. It combines a foundational development of numerical methods with a variety of illustrative applications spread across numerous areas of science and engineering. The intended audience is the undergraduate who has completed introductory coursework in mathematics and computer science. Students gain computational acuity by authoring their own numerical routines and by practicing with numerical methods as they solve computational models. This education encourages students to learn the importance of answering: How expensive is a calculation, how trustworthy is a calculation, and how might we model a problem to apply a desired numerical method? The text is written in two parts. Part I provides a succinct, one-term inauguration into the primary routines on which a further study of computational science rests. The material is organized so that the transition to computational science from coursework in calculus, differential equations, and linear algebra is natural. Beyond the mathematical and computational content of Part I, students gain proficiency with elemental programming constructs and visualization, which are presented in MATLAB syntax. The focus of Part II is modeling, wherein students build computational models, compute solutions, and report their findings. The models purposely intersect numerous areas of science and engineering to demonstrate the pervasive role played by computational science.
Management Approach for Resource-Productive Operations by Markus Hammer
Publication Date: 2018-07-17
Markus Hammer investigates a time-based and analytics-supported operations management approach. He explores five perspectives: 1) the needs of industry, in particular manufacturing in process industries, 2) the impact of digitization, with focus on Big Data and analytics, 3) the management of operations through time-based performance metrics, 4) how operations improvement methods and advanced process control help achieve resource-productive operations and 5) learning from practice based on two empirical case studies. The author conceives, explains, and tests an implementation methodology. The final case study proves that the developed implementation methodology works in practice.
Multiple Criteria Decision Making and Aiding by Sandra Huber (Editor); Martin Josef Geiger (Editor); Adiel Teixeira de Almeida (Editor)
Publication Date: 2019-01-08
This book introduces students on Multiple Criteria Decision Aiding and Making courses to practical, real-world cases. Each case study introduces a problem or situation together with a method, and a description and explanation of a computer application. In this sense each chapter is based on four pillars: the problem, the model building, the methods and their implementation. The book presents and elaborates a rich and comprehensive set of practical problems comprising multiple criteria, including numerous approaches for their solution, for decision support or decision aid. It complements traditional textbooks and lecture material by employing case studies to promote a deeper understanding of the investigated concepts and help students apply these methods to other areas.
New Perspectives in Multiple Criteria Decision Making by Michalis Doumpos (Editor); José Rui Figueira (Editor); Salvatore Greco (Editor); Constantin Zopounidis (Editor)
Publication Date: 2019-04-12
This book provides comprehensive coverage of the latest research on multiple criteria research analysis (MCDA) and related areas, gathering a collection of high-quality chapters prepared by leading scholars in the field. By covering the established streams in MCDA research and simultaneously exploring new and emerging areas of application, it offers a unique reference resource for the future development of MCDA. The book approaches MCDA as one of the most active areas in operations research and management science (OR/MS). It presents not only the significant advances achieved to date, but also the new opportunities and challenges arising for both the theory and practice of MCDA. Among many others, the book addresses behavioral and conceptual aspects of decision aiding and decision making, problem structuring issues in the framework of new technological and socio-economic advances, methodological and algorithmic advances for analytical modeling and decision aiding, as well as a number of new application areas in engineering, business, and the social sciences.
Nonlinear Programming Techniques for Equilibria by Giancarlo Bigi; Marco Castellani; Massimo Pappalardo; Mauro Passacantando
Publication Date: 2018-10-02
This book considers a range of problems in operations research, which are formulated through various mathematical models such as complementarity, variational inequalities, multiobjective optimization, fixed point problems, noncooperative games and inverse optimization. Moreover, the book subsumes all these models under a common structure that allows them to be formulated in a unique format: the Ky Fan inequality. It subsequently focuses on this unifying equilibrium format, providing a comprehensive overview of the main theoretical results and solution algorithms, together with a wealth of applications and numerical examples. Particular emphasis is placed on the role of nonlinear optimization techniques - e.g. convex optimization, nonsmooth calculus, proximal point and descent algorithms - as valuable tools for analyzing and solving Ky Fan inequalities.
Operations in an Omni-Channel World by Santiago Gallino (Editor); Antonio Moreno-Garcia (Editor)
Publication Date: 2019-11-01
The world of retailing has changed dramatically in the past decade. Sales originating at online channels have been steadily increasing, and even for sales transacted at brick-and-mortar channels, a much larger fraction of sales is affected by online channels in different touch points during the customer journey. Shopper behavior and expectations have been evolving along with the growth of digital channels, challenging retailers to redesign their fulfillment and execution processes, to better serve their customers. This edited book examines the challenges and opportunities arising from the shift towards omni- channel retail. We examine these issues through the lenses of operations management, emphasizing the supply chain transformations associated with fulfilling an omni-channel demand. The book is divided into three parts. In the first part, "Omni-channel business models", we present four studies that explore how retailers are adjusting their fundamental business models to the new omni-channel landscape. The second part, "Data-driven decisions in an omni-channel world", includes five chapters that study the evolving data opportunities enabled by omni-channel retail and present specific examples of data-driven analyses. Finally, in the third part, "Case studies in Omni-channel retailing", we include four studies that provide a deep dive into how specific industries, companies and markets are navigating the omni-channel world. Ultimately, this book introduces the reader to the fundamentals of operations in an omni-channel context and highlights the different innovative research ideas on the topic using a variety of methodologies.
Operations Research in Development Sector by Arabinda Tripathy (Editor); Rabi Narayan Subudhi (Editor); Srikanta Patnaik (Editor); Jyotiranjan Nayak (Editor)
Publication Date: 2018-09-19
This book analyzes the underlying theoretical principles of multi-objective linear programming problems with multi-choice parameters. It studies transportation problems on the same domain with extension to fuzzy stochastic criteria, and offers insights into sensitivity analysis through symmetric duality and complementarity using non-convex programming. These analytical presentations provide ample scope for researchers to contemplate real-world problems with an innovative vision. The formulation, analysis and solution procedures on inventory control models in the book use both deterministic and fuzzy parameters, and provide novel optimal inventory policies. The book discusses a wide range of optimal operational techniques for policy makers, government and private agencies in the fields of e-governance and agricultural crop insurance, which are crucial for developing countries. The recommendations address the gaps and remedies in various schemes that influence decision-making in the context of the economic development of such countries.
Optimal Control Theory by Suresh P. Sethi
Publication Date: 2018-12-17
This fully revised 3rd edition offers an introduction to optimal control theory and its diverse applications in management science and economics. It brings to students the concept of the maximum principle in continuous, as well as discrete, time by using dynamic programming and Kuhn-Tucker theory. While some mathematical background is needed, the emphasis of the book is not on mathematical rigor, but on modeling realistic situations faced in business and economics. The book exploits optimal control theory to the functional areas of management including finance, production and marketing and to economics of growth and of natural resources. In addition, this new edition features materials on stochastic Nash and Stackelberg differential games and an adverse selection model in the principal-agent framework. The book provides exercises for each chapter and answers to selected exercises to help deepen the understanding of the material presented. Also included are appendices comprised of supplementary material on the solution of differential equations, the calculus of variations and its relationships to the maximum principle, and special topics including the Kalman filter, certainty equivalence, singular control, a global saddle point theorem, Sethi-Skiba points, and distributed parameter systems. Optimal control methods are used to determine optimal ways to control a dynamic system. The theoretical work in this field serves as a foundation for the book, which the author has applied to business management problems developed from his research and classroom instruction. The new edition has been completely refined and brought up to date. Ultimately this should continue to be a valuable resource for graduate courses on applied optimal control theory, but also for financial and industrial engineers, economists, and operational researchers concerned with the application of dynamic optimization in their fields.
Optimization and Inventory Management by Nita H. Shah (Editor); Mandeep Mittal (Editor)
Publication Date: 2019-09-20
This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models' robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management - inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.
The Resource Transfer Problem by Illa Weiss
Publication Date: 2019-01-03
The resource transfer problem (RTP) is a modeling and solution framework for integrated complex scheduling and rich vehicle routing problems. It allows the modeling of a wide variety of scheduling problems, vehicle routing problems, their combination with integrated problems, as well as various specific requirements and restrictions arising in practical scheduling and vehicle routing. Based on the unifying resource transfer problem framework, this book proposes a generic constraint propagation approach that exploits the specific structure of scheduling and routing problems.
Revenue Management and Pricing Analytics by Guillermo Gallego; Huseyin Topaloglu
Publication Date: 2019-08-15
"There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available." Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. "The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. "This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field." Robert L. Phillips, Director of Pricing Research at Amazon "At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference." Richard Ratliff, Research Scientist at Sabre "This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers." Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Revisiting Supply Chain Risk by George A. Zsidisin (Editor); Michael Henke (Editor)
Publication Date: 2019-01-03
This book offers a bridge between our current understanding of supply chain risk in practice and theory, and the monumental shifts caused by the emergence of the fourth industrial revolution. Supply chain risk and its management have experienced significant attention in scholarship and practice over the past twenty years. Our understanding of supply chain risk and its many facets, such as uncertainty and vulnerability, has expanded beyond utilizing approaches such as deploying inventory to buffer the initial effects of disruptions. Even with our increased knowledge of supply chain risk, being in the era of lean supply chain practices, digitally managed global supply chains, and closely interconnected networks, firms are exposed as ever to supply chain uncertainties that can damage, or even destroy, their ability to compete in the marketplace. The book acknowledges the criticality of big data analytics in Supply Chain Risk Management (SCRM) processes and provides appropriate tools and approaches for creating robust SCRM processes. Revisiting Supply Chain Risk presents a state-of-the-art look at SCRM through current research and philosophical thought. It is divided into six sections that highlight established themes, as well as provide new insights to developing areas of inquiry and contexts on the topic. Section 1 examines the first step in managing supply chain risk, risk assessment. The chapters in Section 2 encompass resiliency in supply chains, while Section 3 looks at relational and behavioral perspectives from varying units of analysis including consortiums, teams and decision makers. Section 4 focuses on examining supply chain risk in the contexts of sustainability and innovation. Section 5 provides insight on emerging typologies and taxonomies for classifying supply chain risk. The book concludes with Section 6, featuring illustrative case studies as real-world examples in assessing and managing supply chain risk.
Strategic Approach in Multi-Criteria Decision Making by Nolberto Munier; Eloy Hontoria; Fernando Jiménez-Sáez
Publication Date: 2019-02-07
This book examines multiple criteria decision making (MCDM) and presents the Sequential Interactive Modelling for Urban Systems (SIMUS) as a method to be used for strategic decision making. It emphasizes the necessity to take into account aspects related to real world scenarios and incorporating possible real life aspects for modelling. The book also highlights the use of sensitivity analysis and presents a method for using criteria marginal values instead of weights, which permits the drawing of curves that depicts the variations of the objective function due to variations of these marginal values. In this way it also gives quantitative values of the objective function allowing stakeholders to perform a comprehensive risk analysis for a solution when it is affected by exogenous variables. Strategic Approach in Multi-Criteria Decision Making: A Practical Guide for Complex Scenarios is divided into three parts. Part 1 is devoted to exploring the history and development of the discipline and the way it is currently used. It highlights drawbacks and problems that scholars have identified in different MCDM methods and techniques. Part 2 addresses best practices to assure quality MCDM process. Part 3 introduces the concept of Linear Programming and the proposed SIMUS method as techniques to deal with MCDM. It also includes case studies in order to help document and illustrate difficult concepts, especially related to demands from a scenario and also in their modelling. The decision making process can be a complex task, especially with multi-criteria problems. With large amounts of information, it can be an extremely difficult to make a rational decision, due to the number of intervening variables, their interrelationships, potential solutions that might exist, diverse objectives envisioned for a project, etc. The SIMUS method has been designed to offer a strategy to help organize, classify, and evaluate this information effectively.
The Systemic Turn in Human and Natural Sciences by Lucia Urbani Ulivi (Editor)
Publication Date: 2019-01-12
This book is dedicated to the consolidation and to the expansion of theoretic systems thinking as a necessary integration of the general reductionist and analytical attitude dominant in our culture. Reductionism and analytical approaches have produced significant results in many fields of contemporary knowledge giving a great contribution to relevant scientific discoveries and to their technological application, but their validity has been improperly universalized as the only and best methods of knowledge in every domain. It is nowadays clear that analytical or mereological approaches are inadequate to solve many problems and that we should introduce - or support the diffusion of - new concepts and different research attitudes. A good candidate to support such a shift is the well known theoretical approach based on the concept of "system" that no more considers the elementary constituents of an object, but the entity emerging from the relations and interactions among its elementary parts. It becomes possible to reconstruct several domains, both philosophical and scientific, from the systemic point of view, introducing fresh ideas in the research in view of a general rational vision of the world on more comprehensive basis. This book contributes to the diffusion and evolution of systemic thinking by focusing on two main objectives: developing and updating the systemic approach in disciplines currently using it and introducing the systemic perspective in humanistic disciplines, where the approach is not widely used. The Systemic Turn in Human and Natural Sciences: A Rock in the Pond is comprised of ten chapters. The chapter authors adopt a trans-disciplinary perspective, consisting in the recognition and harmonization of the special outlooks that together, within the general systemic paradigm, gives an ideal unity to the book.
Theory, Formulation and Realization of Artifacts Science by Masayuki Matsui
Publication Date: 2019-04-18
This book considers and builds on the main propositions regarding body similarity and the principles of nature versus artifacts in science. It also explores the design (matrix) power of the human, Material/Machine, Money & Information (3M&I) body with respect to productivity/gross domestic product (GDP). The book begins in 2009 with Weiner's cybernetics and describes Matsui's theory and dynamism concerning the basic equation of W = ZL and artifact formulation using matrix methods, such as Matsui's matrix equation (Matsui's ME). In his book Fundamentals and Principles of Artifacts Science: 3M&I-Body System, published by Springer in 2016, the author championed the white-box approach for 3M&I artifacts in contrast to Simon's artificial approach from 1969. Two principles, the Sandwich (waist) and Balancing theories, and their fundamental problems, were identified. This book now proposes a third principle: the fractal/harmonic-like structure of the cosmos and life types in space and time. The book further elaborates on the complexity of the 3M&I system and management in terms of enterprises, economics, nature, and other applications. Also, the domain of nature versus artifacts is highlighted, demonstrating the possibility of a white-box cybernetics-type robot. This fosters the realization of humanized and harmonic worlds that combine increased happiness and social productivity in an age increasingly dominated by technology.
Theory and Approaches of Group Decision Making with Uncertain Linguistic Expressions by Hai Wang; Zeshui Xu
Publication Date: 2019-01-24
This book mainly introduces a series of theory and approaches of group decision-making based on several types of uncertain linguistic expressions and addresses their applications. The book pursues three major objectives: (1) to introduce some techniques to model several types of natural linguistic expressions; (2) to handle these expressions in group decision-making; and (3) to clarify the involved approaches by practical applications. The book is especially valuable for readers to understand how linguistic expressions could be employed and operated to make decisions, and motivates researchers to consider more types of natural linguistic expressions in decision analysis under uncertainties.
Traffic Flow Modelling by Femke van Wageningen-Kessels
Publication Date: 2018-08-31
This book introduces readers to the main traffic flow modelling approaches and discusses their features and applications. It provides a comprehensive and cutting-edge review of traffic flow models, from their roots in the 1930s to the latest developments in the field. In addition, it presents problem sets that offer readers further insights into the models and hands-on experience with simulation approaches. The simulations used in the exercises can be built upon for readers' own research or other applications. The models discussed in this book are applied to describe, predict and control traffic flows on roads with the aid of rapid and accurate estimations of current and future states. The book shows how these models are developed, what their chief characteristics are, and how they can be effectively employed.
Transportation Analytics in the Era of Big Data by Satish Ukkusuri (Editor); Chao Yang (Editor)
Publication Date: 2018-08-09
This book presents papers based on the presentations and discussions at the international workshop on Big Data Smart Transportation Analytics held July 16 and 17, 2016 at Tongji University in Shanghai and chaired by Professors Ukkusuri and Yang. The book is intended to explore a multidisciplinary perspective to big data science in urban transportation, motivated by three critical observations: The rapid advances in the observability of assets, platforms for matching supply and demand, thereby allowing sharing networks previously unimaginable. The nearly universal agreement that data from multiple sources, such as cell phones, social media, taxis and transit systems can allow an understanding of infrastructure systems that is critically important to both quality of life and successful economic competition at the global, national, regional, and local levels. There is presently a lack of unifying principles and methodologies that approach big data urban systems. The workshop brought together varied perspectives from engineering, computational scientists, state and central government, social scientists, physicists, and network science experts to develop a unifying set of research challenges and methodologies that are likely to impact infrastructure systems with a particular focus on transportation issues. The book deals with the emerging topic of data science for cities, a central topic in the last five years that is expected to become critical in academia, industry, and the government in the future. There is currently limited literature for researchers to know the opportunities and state of the art in this emerging area, so this book fills a gap by synthesizing the state of the art from various scholars and help identify new research directions for further study.