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1 – 10 of over 19000Masoud Amirdadi and Farzad Dehghanian
In this paper, the authors aim to investigate the relationship between buyback policy and the potential number of used products that could be collected by developing a robust…
Abstract
Purpose
In this paper, the authors aim to investigate the relationship between buyback policy and the potential number of used products that could be collected by developing a robust fuzzy reverse logistics network.
Design/methodology/approach
In this approach, the authors seek to determine the amount of buyback based on the condition of used products at the time of return. In this process, the authors also take into account that apart from the condition of used products, other factors exist that the actual return rate could be dependent on them. This matter propelled us to make a novel distinction between the probability of return estimated from appropriate buybacks offered to consumers, and the actual return rate of used products using fuzzy mathematical methods. Besides that, a compatible robust fuzzy optimization method has been implemented on the model to deal with uncertain properties of it and simultaneously fortifying its responses against any possible effect of return rate fluctuation.
Findings
To analyze and evaluate the model performance, the authors decided to apply a series of exhaustive randomly generated experiments onto it. Also, the authors introduced a Lagrangian relaxation solution methodology to facilitate and improve the solving process of the model. Then, the evaluation of the results enabled us to demonstrate the model validity, and underscore its utility to deal with problems with more sophisticated used product collection process that practitioners tend to encounter in the real-world circumstances.
Originality/value
This study suggests a novel way to design the return rate of used products in a reverse logistics network with buyback offers through a complete set of factors affecting it. Furthermore, the procedure of developing the model encompasses several important aspects that significantly decrease its complexity and improve its applicability.
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Kim Hin/David Ho, Eddie Chi Man Hui and Huiyong Su
Although the modern portfolio theory (MPT) asset allocation framework can be adopted to enable decision making for international and direct real estate investing, and that many…
Abstract
Purpose
Although the modern portfolio theory (MPT) asset allocation framework can be adopted to enable decision making for international and direct real estate investing, and that many institutional investors adopt it to support their decision making, this framework can be enhanced to capture the multi‐causal factors influencing international and direct real estate investing. The purpose of this paper is to explain how a fuzzy decision‐making approach is a more intuitive, yet rigorous alternative in this regard.
Design/methodology/approach
This paper is concerned with the model formation and estimation of a unique fuzzy tactical asset allocation (FTAA), which in turn comprises the FTAA flexible programming model and the FTAA robust programming model.
Findings
Both these FTAA models enhance the classical, Markowitz MPT portfolio theory on asset allocation through making it more intuitively appropriate for decision making in international and direct real estate investing.
Practical implications
These two FTAA models achieve the benefits of intuitively greater risk diversification by city or real estate sector and enable effective risk management. These two short‐run fuzzy models would be accepted and more such models would emerge as an effective extension of quadratic programming optimization, as more computable software programs of this kind are widespread.
Originality/value
Fuzzy approaches to asset allocation in the short run, are limited by some drawbacks. Fuzzy models possess the common feature of converting the equality function under quadratic programming optimization into inequality functions. Such inequality optimization replaces the point solution of the MPT TAA optimization problem, obtained through the rigid intersection of all functions, via a generalized or intuitive answer over a defined space of alternatives. The product of the fuzzy process with fuzzy inputs, in the form of fuzzy outcome is in actual fact a more natural and intuitive approach to asset optimization.
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The purpose of this paper is to develop a computer aided decision‐making model for flexible manufacturing system (FMS) situations when multiple conflicting objectives are…
Abstract
Purpose
The purpose of this paper is to develop a computer aided decision‐making model for flexible manufacturing system (FMS) situations when multiple conflicting objectives are addressed by the management.
Design/methodology/approach
It is assumed that the problem is the managerial level schedule rather than the operational schedule. As a tool, goal programming has been employed for measuring the trade‐offs among the objectives. As a safeguard, the level of the reliability of the constraints associated with the random coefficients is taken into consideration. As an optimization technique, the approach of chance constrained programming which has been an operational way for introducing probabilistic constraints into the collection of the linear programming and goal programming problem constraints is stated and mathematically formulated.
Findings
The approach of chance constrained programming is suitable to introduce management concerns about the reliability of the constraints of the problem in the FMS.
Originality/value
The paper gives an overview of the FMS and proposes a goal programming model for the analysis of problem. The proposed model acknowledges the randomness of customer demands for better standardization of production planning and inventory management systems. By the fact that customer demands are not always deterministic the hypothesis that sale level for each period is normally distributed is imposed. A sample example problem is provided to show how the proposed model can work.
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Pawel Sitek, Jaroslaw Wikarek and Peter Nielsen
The purpose of this paper is the need to build a novel approach that would allow flexible modeling and solving of food supply chain management (FSCM) problems. The models…
Abstract
Purpose
The purpose of this paper is the need to build a novel approach that would allow flexible modeling and solving of food supply chain management (FSCM) problems. The models developed would use the data (data-driven modeling) as early as possible at the modeling phase, which would lead to a better and more realistic representation of the problems being modeled.
Design/methodology/approach
An essential feature of the presented approach is its declarativeness. The use of a declarative approach that additionally includes constraint satisfaction problems and provides an opportunity of fast and easy modeling of constrains different in type and character. Implementation of the proposed approach was performed with the use of an original hybrid method in which constraint logic programming (CLP) and mathematical programming (MP) are integrated and transformation of a model is used as a presolving technique.
Findings
The proposed constraint-driven approach has proved to be extremely flexible and efficient. The findings obtained during part of experiments dedicated to efficiency were very interesting. The use of the constraint-driven approach has enabled finding a solution depending on the instance data up to 1,000 times faster than using the MP.
Research limitations/implications
Due to the limited use of exact methods for NP-hard problems, the future study should be to integrate the CLP with environments other than the MP. It is also possible, e.g., with metaheuristics like genetic algorithms, ant colony optimization, etc.
Practical implications
There is a possibility of using the approach as a basis to build a decision support system for FSCM, simple integration with databases, enterprise resource planning systems, management information systems, etc.
Originality/value
The new constraint-driven approach to FSCM has been proposed. The proposed approach is an extension of the hybrid approach. Also, a new decision-making model of distribution and logistics for the food supply chain is built. A presolving technique for this model has been presented.
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Introduction Operations research, i.e. the application of scientific methodology to operational problems in the search for improved understanding and control, can be said to have…
Abstract
Introduction Operations research, i.e. the application of scientific methodology to operational problems in the search for improved understanding and control, can be said to have started with the application of mathematical tools to military problems of supply bombing and strategy, during the Second World War. Post‐war these tools were applied to business problems, particularly production scheduling, inventory control and physical distribution because of the acute shortages of goods and the numerical aspects of these problems.
Pengyun Zhao, Shoufeng Ji and Yuanyuan Ji
This paper aims to introduce a novel structure for the physical internet (PI)–enabled sustainable supplier selection and inventory management problem under uncertain environments.
Abstract
Purpose
This paper aims to introduce a novel structure for the physical internet (PI)–enabled sustainable supplier selection and inventory management problem under uncertain environments.
Design/methodology/approach
To address hybrid uncertainty both in the objective function and constraints, a novel interactive hybrid multi-objective optimization solution approach combining Me-based fuzzy possibilistic programming and interval programming approaches is tailored.
Findings
Various numerical experiments are introduced to validate the feasibility of the established model and the proposed solution method.
Originality/value
Due to its interconnectedness, the PI has the opportunity to support firms in addressing sustainability challenges and reducing initial impact. The sustainable supplier selection and inventory management have become critical operational challenges in PI-enabled supply chain problems. This is the first attempt on this issue, which uses the presented novel interactive possibilistic programming method.
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It has become increasingly critical to design and maintain flexible and rapid assembly systems due to unpredictable and varying market conditions. The first stage of developing…
Abstract
Purpose
It has become increasingly critical to design and maintain flexible and rapid assembly systems due to unpredictable and varying market conditions. The first stage of developing such systems is to restructure the existing assembly system. After designing the manufacturing system, efforts should be made for capacity adjustments to meet the demand in terms of allocating tasks to workers. Walking-worker assembly systems can be regarded as an effective method to achieve flexibility and agility via rabbit chase (RC) approach in which workers follow each other around the assembly cell or line and perform each task in sequence. In this paper, a novel mathematical programming approach is developed with the aim of integrating RC in assembly processes. Therefore, this study is thought to add value to industrial assembly systems in terms of effectively raising engineering control for task allocation activities.
Design/methodology/approach
Two consecutive mathematical models are developed, since such a hierarchical approach provides computational convenience for the problem. The initial mathematical programming model determines the number of workers in each RC loop for each segment. In addition, the number of stations and the distribution of station times in the segments is essential. Therefore, the succeeding mathematical programming model generates stations in each segment and provides convenience for the workflow in RC loops. The output of mathematical programming models are the parameters of simulation model for performance assessment.
Findings
The effectiveness of the proposed approach was validated by an application in a real-life chair production system. The application resulted in performance improvements for labour requirement (12.5 per cent) and production lead time (9.6 per cent) when compared to a classical assembly system design (CASD) where one stationary worker exists in each station. In addition, it is worth to note that RC leads to a reduced number of workers for a considerable number (39.4 per cent) of test problems. What is more, input as well as output factors have been determined via discriminant analysis and their impacts to the utilization of RC were analyzed for different levels.
Practical implications
This study is thought to add value to the industry in terms of effectively providing convenience during production planning and task allocation in assembly lines and cells.
Originality/value
To the best knowledge of the author, optimization models for RC considering a real industrial application have not yet been developed. In this context, this paper presents an approach which models RC by the use of mathematical programming in manual assembly processes to address this research gap. The contribution of the paper to the relevant literature is the development of hierarchical mixed integer linear programming models to solve RC problem for the first time.
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Dipankar Bose, A.K. Chatterjee and Samir Barman
Process flexibility (PF) is seen as a hedging instrument against demand uncertainty. This paper aims to examine capacity decisions for both flexible and dedicated processes under…
Abstract
Purpose
Process flexibility (PF) is seen as a hedging instrument against demand uncertainty. This paper aims to examine capacity decisions for both flexible and dedicated processes under production policies such as make-to-order and make-to-stock. The study identifies some relative benefits, in terms of expected profit, of the process flexible plant over the dedicated ones. Furthermore, the advantage appears to be contingent upon the decision on the preset service level.
Design/methodology/approach
Using the sample-based optimization procedure, a detailed computational analysis is undertaken to identify the conditions under which a flexible plant is preferred over a dedicated plant. A combination of genetic algorithm and sample-based optimization procedure is used to capture the effects of preset service level. The factors controlled in this paper include the demand variance, demand correlation, capacity investment cost and the product price.
Findings
According to this study, in a dedicated process changing to a flexible process is not justified for the same level of demand correlation even with high demand variance. In fact, a strict control on the preset service level prefers the dedicated strategy. The advantage of a flexible plant increases as the demand correlation decreases, product price decreases, price asymmetry increases or capacity investment cost increases. With a preset service level constraint, a flexible process should be preferred to a dedicated one only when the capacity investment cost is high or the products have low contribution margins.
Originality/value
The PF index is introduced in this paper to measure the benefit of a flexible plant over a group of dedicated plants. The benefits were found to be contingent upon the decision on the required service level.
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Syed Mohd Muneeb, Mohammad Asim Nomani, Malek Masmoudi and Ahmad Yusuf Adhami
Supplier selection problem is the key process in decision making of supply chain management. An effective selection of vendors is heavily responsible for the success of any…
Abstract
Purpose
Supplier selection problem is the key process in decision making of supply chain management. An effective selection of vendors is heavily responsible for the success of any organization. Vendor selection problem (VSP) reflects a more practical view when the decision makers involved in the problem are present on different levels. Moreover, vendor selection consists of various random parameters to be dealt with in real life. The purpose of this paper is to present a decentralized bi-level VSP where demand and supply are normal random variables and objectives are fuzzy in nature. Decision makers are present at two levels and are called as leader and follower. As the next purpose, this paper extends and presents a solution approach for fuzzy bi-level multi-objective decision-making model with stochastic constraints. Different scenarios have been developed within a real-life case study based on different sets of controlling factors under the control of leader.
Design/methodology/approach
This study uses chance-constrained programming and fuzzy set theory to generate the results. Stochastic constraints are converted into deterministic constraints using chance-constrained programming. Decision variables in the bi-level VSP are partitioned between the two levels and considered as controlling factors. Membership functions based on fuzzy set theory are created for the goals and controlling factors and are used to obtain the overall satisfactory solutions. The model is tested on a real-life case study of a textile industry and different scenarios are constructed based on the choice of leader’s controlling factors.
Findings
Results showed that the approach is quite helpful as it generates efficient results producing a good level of satisfaction for the decision makers of both the levels. Results showed that on choosing the vendors that are associated with worst values in terms of associated costs, vendor ratings and quota flexibilities as controlling factors by the leaders, the level of satisfaction achieved is highest. The level of satisfaction of solution is lowest for the scenario when the leader chooses to control the decision variables associated with vendors that are profiled with minimum vendor ratings. Results also showed that higher availability of materials and budget with vendors proved helpful in obtaining quota allocations. Different scenarios generate different results along with different values of satisfaction degrees and objective values which shows the flexible feature of the approach based on leader’s choice of controlling factors. Numerical results showed that the leader’s control can be effectively incorporated maintaining satisfaction levels of the followers under various scenarios or conditions.
Research limitations/implications
The paper makes a certain contribution toward the study of vendor selection existing in a hierarchical manner under uncertain environment. A wide set of data of different factors is needed which can be seen as a limitation when the available time is short for the supplier selection process.
Practical implications
VSP which is generally adopted by most of the large organizations is characterized with hierarchical decision making. Moreover, dealing with the real-life concern, the data available for some of the parameters are not complete, representing an uncertainty of parameters. This study is quite helpful for decentralized VSP under uncertain environment to reduce the costs, improve profit margins and to create long-term relationships with selected vendors. The proposed model also provides an avenue to explore the decision making when the leader has control over some of the decision variables.
Originality/value
Reviewing the literature available, this is the first attempt to present a multi-objective VSP where the decision makers are at hierarchical levels considering uncertain parameters such as demand and supply as per the best knowledge of authors. This research further provides an approach to construct scenarios or different cases based on the choice of leader’s choice of controlling factors.
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