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11 – 20 of 56This paper aims to discuss the sequence-dependent forward setup time (FST) and backward setup time (BST) consideration for the first time in two-sided assembly lines…
Abstract
Purpose
This paper aims to discuss the sequence-dependent forward setup time (FST) and backward setup time (BST) consideration for the first time in two-sided assembly lines. Sequence-dependent FST and BST values must be considered to compute all of the operational times of each station. Thus, more realistic results can be obtained for real-life situations with this new two-sided assembly line balancing (ALB) problem with setups consideration. The goal is to obtain the most suitable solution with the least number of mated stations and total stations.
Design/methodology/approach
The complex structure it possesses has led to the use of certain assumptions in most of the studies in the ALB literature. In many of them, setup times have been neglected or considered superficially. In the real-life assembly process, potential setup configurations may exist between each successive task and between each successive cycle. When two tasks are in the same cycle, the setup time required (forward setup) may be different from the setup time required if the same two tasks are in consecutive cycles (backward setup).
Findings
Algorithm steps have been studied in detail on a sample solution. Using the proposed algorithm, the literature test problems are solved and the algorithm efficiency is revealed. The results of the experiments revealed that the proposed approach finds promising results.
Originality/value
The sequence-dependent FST and BST consideration is applied in a two-sided assembly line approach for the first time. A genetic algorithm (GA)-based algorithm with ten different heuristic rules was used in this proposed model.
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Internet banking has a very important place in the banking sector. The majority of banks located in Turkey offer many technological services. However, it is also seen that the use…
Abstract
Internet banking has a very important place in the banking sector. The majority of banks located in Turkey offer many technological services. However, it is also seen that the use of internet banking does not reach the desired levels. The purpose of this study is to determine the factors affecting the internet banking preferences of the bank customers and the relationships between the demographic characteristics of bank customers and internet banking usage in Usak city of Turkey. Data from the questionnaires were analyzed using factor analysis, t-test and ANOVA analysis. As a result, seven factors were found to be effective in the use of internet banking. These are (1) “effect of social circle”; (2) “benefits of internet banking”; (3) “the usefulness of internet banking”; (4) “speed and time savings”; (5) “ease of use and cost”; (6) “the ability to use the internet and the advantages of internet banking”; and (7) “the suitability to life and work style.” In addition, it was determined that there is a significant relationship between the demographic characteristics of bank customers and internet banking usage.
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Jianping Dou, Jun Li and Xia Zhao
The purpose of this paper is to develop a feasible sequence-oriented new discrete particle swarm optimization (NDPSO) algorithm with novel particles’ updating mechanism for…
Abstract
Purpose
The purpose of this paper is to develop a feasible sequence-oriented new discrete particle swarm optimization (NDPSO) algorithm with novel particles’ updating mechanism for solving simple assembly line balancing problems (SALBPs).
Design/methodology/approach
In the NDPSO, a task-oriented representation is adopted to solve type I and type II SALBPs, and a particle directly represents a feasible task sequence (FTS) as a permutation. Then, the particle (permutation) is updated as a whole using the geometric crossover based on the edit distance with swaps for two permutations. Furthermore, the fragment mutation with adaptive mutation probability is incorporated into the NDPSO to improve exploration ability.
Findings
Case study illustrates the effectiveness of the NDPSO. Comparative results between the NDPSO and existing real-encoded PSO (CPSO) and direct discrete PSO (DDPSO) against benchmark instances of type I SALBP and type II SALBP show promising higher performance of the proposed NDPSO.
Originality/value
A novel particles’ updating mechanism for FTS-encoded particle is proposed to solve the SALBPs. The comparative results indicate that updating of FTS as a whole seems superior to existing updating of FTS by fragment with respect to exploration ability for solving SALBPs. The novel particles’ updating mechanism is also applicable to generalized assembly line balancing problems.
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What is behavioral economics? This chapter explores a mismatch between what is included in the field of behavioral economics and some of the most visible Austrian critiques of…
Abstract
What is behavioral economics? This chapter explores a mismatch between what is included in the field of behavioral economics and some of the most visible Austrian critiques of behavioral economics. While paternalism, nudging, and a focus on irrationalities and biases are a big part of modern behavioral economics, the portrayal of the field of behavioral economics as being focused predominately upon those areas leaves a swath of low-hanging fruit that would be beneficial for Austrian scholars to consume and use in their own work.
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Mohammad Shahid, Zubair Ashraf, Mohd Shamim and Mohd Shamim Ansari
Optimum utilization of investments has always been considered one of the most crucial aspects of capital markets. Investment into various securities is the subject of portfolio…
Abstract
Purpose
Optimum utilization of investments has always been considered one of the most crucial aspects of capital markets. Investment into various securities is the subject of portfolio optimization intent to maximize return at minimum risk. In this series, a population-based evolutionary approach, stochastic fractal search (SFS), is derived from the natural growth phenomenon. This study aims to develop portfolio selection model using SFS approach to construct an efficient portfolio by optimizing the Sharpe ratio with risk budgeting constraints.
Design/methodology/approach
This paper proposes a constrained portfolio optimization model using the SFS approach with risk-budgeting constraints. SFS is an evolutionary method inspired by the natural growth process which has been modeled using the fractal theory. Experimental analysis has been conducted to determine the effectiveness of the proposed model by making comparisons with state-of-the-art from domain such as genetic algorithm, particle swarm optimization, simulated annealing and differential evolution. The real datasets of the Indian stock exchanges and datasets of global stock exchanges such as Nikkei 225, DAX 100, FTSE 100, Hang Seng31 and S&P 100 have been taken in the study.
Findings
The study confirms the better performance of the SFS model among its peers. Also, statistical analysis has been done using SPSS 20 to confirm the hypothesis developed in the experimental analysis.
Originality/value
In the recent past, researchers have already proposed a significant number of models to solve portfolio selection problems using the meta-heuristic approach. However, this is the first attempt to apply the SFS optimization approach to the problem.
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Ömer Demir and Süleyman Sadi Seferoğlu
The lack of a reliable and valid measurement tool for coding achievement emerges as a major problem in Turkey. Therefore, the purpose of this study is to develop a Scratch-based…
Abstract
Purpose
The lack of a reliable and valid measurement tool for coding achievement emerges as a major problem in Turkey. Therefore, the purpose of this study is to develop a Scratch-based coding achievement test.
Design/methodology/approach
Initially, an item pool with 31 items was created. The item pool was classified within the framework of Bayman and Mayer’s (1988) types of coding knowledge to support content validity of the test. Then the item pool was applied to 186 volunteer undergraduates at Hacettepe University during the spring semester of the 2017-2018 academic year. Subsequently, the item analysis was conducted for construct validity of the test.
Findings
In all, 13 items were discarded from the test, leaving a total of 18 items. Out of the 18-item version of the coding achievement test, 4, 5 and 9 items measured syntactic, conceptual and strategic knowledge, respectively, among the types of coding knowledge. Furthermore, average item discrimination index (0.531), average item difficulty index (0.541) and Cronbach Alpha reliability coefficient (0.801) of the test were calculated.
Practical implications
Scratch users, especially those who are taking introductory courses at Turkish universities, could benefit from a reliable and valid coding achievement test developed in this study.
Originality/value
This paper has theoretical and practical value, as it provides detailed developmental stages of a reliable and valid Scratch-based coding achievement test.
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Fabian Mundt and Kenneth Horvath
Relational thinking and spatial analyses have become highly relevant for higher education research. However, choices of research methods and specifically of statistical procedures…
Abstract
Relational thinking and spatial analyses have become highly relevant for higher education research. However, choices of research methods and specifically of statistical procedures do not often correspond to the epistemological underpinnings implied by relational perspectives. Against this background, this chapter illustrates the uses and challenges of geometric data analysis (GDA) for studying the complexities and dynamics of current spaces of higher education. GDA can be described as a set of statistical techniques that allow the identification, assessment and visualisation of complex relations in social science data. Using an investigation into the social topologies of first-year students as an example, we discuss the mathematical foundations, the step-by-step procedures of data analysis, the interpretation of results and strategies for integrating GDA into multimethod research designs. In sum, we argue that GDA does not only entail a comprehensive set of statistical instruments that permit visual analysis of relational structures, but also enables the systematic integration of qualitative and quantitative methods, hence supporting the development of innovative and coherent research designs and analytical strategies.
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This paper aims to examine from commodity portfolio managers’ perspective the performance of liquidity adjusted risk modeling in assessing the market risk parameters of a large…
Abstract
Purpose
This paper aims to examine from commodity portfolio managers’ perspective the performance of liquidity adjusted risk modeling in assessing the market risk parameters of a large commodity portfolio and in obtaining efficient and coherent portfolios under different market circumstances.
Design/methodology/approach
The implemented market risk modeling algorithm and investment portfolio analytics using reinforcement machine learning techniques can simultaneously handle risk-return characteristics of commodity investments under regular and crisis market settings besides considering the particular effects of the time-varying liquidity constraints of the multiple-asset commodity portfolios.
Findings
In particular, the paper implements a robust machine learning method to commodity optimal portfolio selection and within a liquidity-adjusted value-at-risk (LVaR) framework. In addition, the paper explains how the adapted LVaR modeling algorithms can be used by a commodity trading unit in a dynamic asset allocation framework for estimating risk exposure, assessing risk reduction alternates and creating efficient and coherent market portfolios.
Originality/value
The optimization parameters subject to meaningful operational and financial constraints, investment portfolio analytics and empirical results can have important practical uses and applications for commodity portfolio managers particularly in the wake of the 2007–2009 global financial crisis. In addition, the recommended reinforcement machine learning optimization algorithms can aid in solving some real-world dilemmas under stressed and adverse market conditions (e.g. illiquidity, switching in correlations factors signs, nonlinear and non-normal distribution of assets’ returns) and can have key applications in machine learning, expert systems, smart financial functions, internet of things (IoT) and financial technology (FinTech) in big data ecosystems.
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Amin Pujiati, Triani Nurbaeti and Nadia Damayanti
This paper aims to identify variables that determine the differing levels of environmental quality on Java and other islands in Indonesia.
Abstract
Purpose
This paper aims to identify variables that determine the differing levels of environmental quality on Java and other islands in Indonesia.
Design/methodology/approach
Using a quantitative approach, secondary data were sourced from the Central Statistics Agency and the Ministry of Environment and Forestry. The data were obtained through the collection of documentation from 33 provinces in Indonesia. The analytical approach used was discriminant analysis. The research variables are Trade Openness, Foreign Direct Investment (FDI), industry, HDI and population growth.
Findings
The variables that distinguish between the levels of environmental quality in Indonesian provinces on the island of Java and on other islands are Industry, HDI, FDI and population growth. The openness variable is not a differentiating variable for environmental quality. The most powerful variable as a differentiator of environmental quality on Java Island and on other islands is the Industry variable.
Research limitations/implications
This study has not classified the quality of the environment based on the Ministry of Environment and Forestry's categories, namely, the very good, good, quite good, poor, very poor and dangerous. For this reason, further research is needed using multiple discriminant analysis (MDA).
Practical implications
Industry is the variable that most strongly distinguishes between levels of environmental quality on Java and other island, while the industrial sector is the largest contributor to gross regional domestic product (GDRP). Government policy to develop green technology is mandatory so that there is no trade-off between industry and environmental quality.
Originality/value
This study is able to identify the differentiating variables of environmental quality in two different groups, on Java and on the other islands of the Indonesian archipelago.
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Lei Wu, Xue Tian, Hongyan Wang, Qi Liu and Wensheng Xiao
As a kind of NP-hard combinatorial optimization problem, pipe routing design (PRD) is applied widely in modern industries. In the offshore oil and gas industry, a semi-submersible…
Abstract
Purpose
As a kind of NP-hard combinatorial optimization problem, pipe routing design (PRD) is applied widely in modern industries. In the offshore oil and gas industry, a semi-submersible production platform is an important equipment for oil exploitation and production. PRD is one of the most key parts of the design of semi-submersible platform. This study aims to present an improved ant colony algorithm (IACO) to address PRD for the oil and gas treatment system when designing a semi-submersible production platform.
Design/methodology/approach
First, to simplify PRD problem, a novel mathematical model is built according to real constraints and rules. Then, IACO, which combines modified heuristic function, mutation mechanism and dynamical parameter mechanism, is introduced.
Findings
Based on a set of specific instances, experiments are carried out, and the experimental results show that the performance of IACO is better than that of two variants of ACO, especially in terms of the convergence speed and swarm diversity. Finally, IACO is used to solve PRD for the oil and gas treatment system of semi-submersible production platform. The simulation results, which include nine pipe paths, demonstrate the practicality and high-efficiency of IACO.
Originality/value
The main contribution of this study is the development of method for solving PRD of a semi-submersible production platform based on the novel mathematical model and the proposed IACO.
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