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Article
Publication date: 4 December 2017

Shujun Zhou, Bingzhen Sun, Weimin Ma and Xiangtang Chen

The purpose of this paper is to present a new method and model for determining the optimal decision-making for the pricing strategy to the Fuji apple in Shaanxi of Chain…

Abstract

Purpose

The purpose of this paper is to present a new method and model for determining the optimal decision-making for the pricing strategy to the Fuji apple in Shaanxi of Chain which is representing fresh agricultural products under the e-commerce environment.

Design/methodology/approach

Considering the rapid development of information technology as well as internet that actually motivate the e-commerce, Fuji apple is a distinctive product in China’s Shaanxi; its sales channels have extended to online sales under the wave of e-commerce. Internet trading platforms make it possible to trade online in real time between suppliers and customers who live in different geographical areas. In this paper, the authors study how to price online to maximize the total revenue. The challenge is to optimally price two different qualities of apple. Based on the consumer surplus theory, the authors use the method that builds the function of the relationship between the proportion of consumers purchasing different qualities of products and price.

Findings

This paper presents a generalized model to determine the optimal pricing that maximizes the total revenue of a fruit grower over a finite planning horizon. The authors divided discount into two intervals and discussed the optimal discounting and pricing at both intervals. Then they determined the optimal pricing strategy for Fuji apple in Shaanxi of Chain under the e-commerce environment.

Originality/value

This paper makes up for the lack of existing studies of pricing under the e-commerce environment. A new method and approach to the traditional pricing strategy is established and applied to a management decision-making problem with Chinese characteristics in reality.

Details

Kybernetes, vol. 47 no. 1
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 31 January 2020

Weimin Ma, Wenjing Lei and Bingzhen Sun

The purpose of this paper is to propose a three-way group decision-making approach to address the selection of green supplier, by extending decision-theoretic rough set…

Abstract

Purpose

The purpose of this paper is to propose a three-way group decision-making approach to address the selection of green supplier, by extending decision-theoretic rough set (DTRS) into hesitant fuzzy linguistic (HFL) environment, considering the flexible evaluation expression format of HFL term set (HFLTS) and the idea of minimum expected risk in DTRS.

Design/methodology/approach

Specifically, the authors first present the calculation method of the conditional probability and discuss the loss functions of DTRS with HFL element (HFLE), along with some associated properties being investigated in detail. Further, three-way group decisions rules can be deduced, followed by the cost of every green supplier candidate. Thus, based on these discussions, a novel green supplier selection DTRS model that combines multi-criteria group decision-making (MCGDM) and HFLTS is designed.

Findings

A numerical example of green supplier selection, the comparative analysis and associated discussions are conducted to illustrate the applicability and novelty of the presented model.

Practical implications

The selection of green supplier has played a critically strategic role in sustainable enterprise development due to continuous environmental concerns. This paper offers an insight for companies to select green supplier selection from the perspective of three-way group decisions.

Originality/value

This paper uses three-way decisions to address green supplier selection in the HFL context, which is considered as a MCGDM issue.

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Article
Publication date: 24 June 2013

Sun Bingzhen and Ma Weimin

– The purpose of this paper is to present a measure method of the uncertainty for rough fuzzy set based on general binary relation.

Abstract

Purpose

The purpose of this paper is to present a measure method of the uncertainty for rough fuzzy set based on general binary relation.

Design/methodology/approach

Rough set and fuzzy set are two different but complementary theories for expressing uncertainty information, and based on the combination of these two uncertainty theories of expressing and handling uncertainty information, the rough fuzzy set model and uncertainty measure based on general relation are discussed.

Findings

This paper reveals the intrinsic of the uncertainty for rough fuzzy set based on general relation and presents a new measure method by introducing the Shannon entropy to generalized approximation space.

Originality/value

The paper contributes to the discussion on the research of rough set and fuzzy set. The conclusions are useful in information processing with uncertainty.

Details

Kybernetes, vol. 42 no. 6
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 7 March 2016

Sun Bingzhen and Ma Weimin

The purpose of this paper is to present a new method for evaluation of emergency plans for unconventional emergency events by using the soft fuzzy rough set theory and…

Abstract

Purpose

The purpose of this paper is to present a new method for evaluation of emergency plans for unconventional emergency events by using the soft fuzzy rough set theory and methodology.

Design/methodology/approach

In response to the problems of insufficient risk identification, incomplete and inaccurate data and different preference of decision makers, a new model for emergency plan evaluation is established by combining soft set theory with classical fuzzy rough set theory. Moreover, by combining the TOPSIS method with soft fuzzy rough set theory, the score value of the soft fuzzy lower and upper approximation is defined for the optimal object and the worst object. Finally, emergency plans are comprehensively evaluated according to the soft close degree of the soft fuzzy rough set theory.

Findings

This paper presents a new perspective on emergency management decision making in unconventional emergency events. Also, the paper provides an effective model for evaluating emergency plans for unconventional events.

Originality/value

The paper contributes to decision making in emergency management of unconventional emergency events. The model is useful for dealing with decision making with uncertain information.

Details

Kybernetes, vol. 45 no. 3
Type: Research Article
ISSN: 0368-492X

Keywords

Content available
Article
Publication date: 24 June 2013

Magnus Ramage, Chris Bissell and David Chapman

Abstract

Details

Kybernetes, vol. 42 no. 6
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 26 June 2007

WeiMin Tao, MingJun Zhang, Ou Ma and XiaoPing Yun

The purpose of this paper is to investigate the vibration suppression of industrial track robot and propose a practical solution.

Abstract

Purpose

The purpose of this paper is to investigate the vibration suppression of industrial track robot and propose a practical solution.

Design/methodology/approach

Root‐cause analysis through dynamic modeling, and vibration suppression using the acceleration smoother.

Findings

The vibration is due to insufficient damping based on the model analysis. The solution achieved significant performance improvement without redesign of robot hardware and controller.

Research limitations/implications

The design of the proposed acceleration smoother is still empirical based, which is unable to achieve optimal design.

Practical implications

This solution is very easy to implement. It is robust, reliable and is able to generate consistent results.

Originality/value

A very practical industrial solution, especially useful for upgrading the existing systems in the field without redesign the hardware and controller.

Details

Industrial Robot: An International Journal, vol. 34 no. 4
Type: Research Article
ISSN: 0143-991X

Keywords

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Article
Publication date: 12 October 2020

Xue Deng and Weimin Li

This paper aims to propose two portfolio selection models with hesitant value-at-risk (HVaR) – HVaR fuzzy portfolio selection model (HVaR-FPSM) and HVaR-score fuzzy…

Abstract

Purpose

This paper aims to propose two portfolio selection models with hesitant value-at-risk (HVaR) – HVaR fuzzy portfolio selection model (HVaR-FPSM) and HVaR-score fuzzy portfolio selection model (HVaR-S-FPSM) – to help investors solve the problem that how bad a portfolio can be under probabilistic hesitant fuzzy environment.

Design/methodology/approach

It is strictly proved that the higher the probability threshold, the higher the HVaR in HVaR-S-FPSM. Numerical examples and a case study are used to illustrate the steps of building the proposed models and the importance of the HVaR and score constraint. In case study, the authors conduct a sensitivity analysis and compare the proposed models with decision-making models and hesitant fuzzy portfolio models.

Findings

The score constraint can make sure that the portfolio selected is profitable, but will not cause the HVaR to decrease dramatically. The investment proportions of stocks are mainly affected by their HVaRs, which is consistent with the fact that the stock having good performance is usually desirable in portfolio selection. The HVaR-S-FPSM can find portfolios with higher HVaR than each single stock and has little sacrifice of extreme returns.

Originality/value

This paper fulfills a need to construct portfolio selection models with HVaR under probabilistic hesitant fuzzy environment. As a downside risk, the HVaR is more consistent with investors’ intuitions about risks. Moreover, the score constraint makes sure that undesirable portfolios will not be selected.

Details

Engineering Computations, vol. 38 no. 5
Type: Research Article
ISSN: 0264-4401

Keywords

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Article
Publication date: 29 June 2012

Manzoor Ahmad, J. Luo, Ben Xu, Hendra Purnawali, Peter King, Paul Chalker, Yongqing Fu, Weimin Huang and Moshen Miraftab

Shape memory polyurethanes (SMPUs) are typically synthesized using polyols of low molecular weight, Mw, and high hydroxyl number as it is believed that high density of…

Abstract

Shape memory polyurethanes (SMPUs) are typically synthesized using polyols of low molecular weight, Mw, and high hydroxyl number as it is believed that high density of cross-links in these polyols are essential for high performance shape memory polymers. In this study, polyethylene glycol (PEG-6000) with Mw ~ 6000 g/mol and low hydroxyl number (OH ~ 18 mg K OH/g) as the soft segment and diisocyanate as the hard segment were used to synthesize SMPUs. It revealed that although the PEG-6000 based SMPUs have lower maximum elongation at break (425%) and recovery stress than those of PCL-2000 polyol based SMPUs, they have much better shape recovery ratio (98%) and shape fixity (95%). Furthermore, these SMPUs showed a much shorter actuation time of <10sec for up to 85% shape recovery, much shorter than those low Mw SMPUs, clearly demonstrated their great potential for applications.

Details

World Journal of Engineering, vol. 9 no. 3
Type: Research Article
ISSN: 1708-5284

Keywords

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Article
Publication date: 15 February 2011

Francis R. Ille and Claude Chailan

The purpose of this paper is to compare how some firms from China and some from other emerging countries (EC) are using a variety of branding strategies to improve their…

Abstract

Purpose

The purpose of this paper is to compare how some firms from China and some from other emerging countries (EC) are using a variety of branding strategies to improve their global competitiveness. A total of 14 firms have been compared on criteria related to possible acquisition of foreign brands, development of local brands, personality of the leaders and in some cases use of ideological messages.

Design/methodology/approach

The paper is mostly based on case studies coming from literature, interviews from marketing executives of major enterprises from China or other EC. It is mainly exploratory in its approach.

Findings

The critical success factors for the competitiveness of emerging countries brands are either coming from the choice to create a local brand from scratch, to buy an existing famous brand, or to imitate successful foreign brands. Few strategic differences appear between Chinese firms and the ones from other EC. The factors explaining success or failure are linked to the type of industry and the way it relates to the country of origin effect, the level of marketing “maturity” as well as the personality and visibility of the entrepreneur.

Research limitations/implications

The study does not aim at being statistically representative, the firms which are selected may not be a full representation of Chinese firms branding strategy or from emerging nations.

Originality/value

The definition of the brand strategy for emerging countries firms is a relatively new subject and this study is a contribution to helping enterprises in finding the best approach as well as giving examples for academic studies on Chinese firms marketing efficiency.

Details

Journal of Technology Management in China, vol. 6 no. 1
Type: Research Article
ISSN: 1746-8779

Keywords

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Article
Publication date: 1 January 2000

Eduardo Canabarro, Markus Finkemeier, Richard R. Anderson and Fouad Bendimerad

Insurance‐linked securities can benefit both issuers and investors; they supply insurance and reinsurance companies with additional risk capital at reasonable prices (with…

Abstract

Insurance‐linked securities can benefit both issuers and investors; they supply insurance and reinsurance companies with additional risk capital at reasonable prices (with little or no credit risk), and supply excess returns to investors that are uncorrelated with the returns of other financial assets. This article explains the terminology of insurance and reinsurance, the structure of insurance‐linked securities, and provides an overview of major transactions. First, there is a discussion of how stochastic catastrophe modeling has been applied to assess the risk of natural catastrophes, including the reliability and validation of the risk models. Second, the authors compare the risk‐adjusted returns of recent securitizations on the basis of relative value. Compared with high‐yield bonds, catastrophe (“CAT”) bonds have wide spreads and very attractive Sharpe ratios. In fact, the risk‐adjusted returns on CAT bonds dominate high‐yield bonds. Furthermore, since natural catastrophe risk is essentially uncorrelated with market risk, high expected excess returns make CAT bonds high‐alpha assets. The authors illustrate this point and show that a relatively small allocation of insurance‐linked securities within a fixed income portfolio can enhance the expected return and simultaneously decrease risk, without significantly changing the skewness and kurtosis of the return distribution.

Details

The Journal of Risk Finance, vol. 1 no. 2
Type: Research Article
ISSN: 1526-5943

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