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Book part
Publication date: 6 November 2013

Bartosz Sawik

This chapter presents the survey of selected linear and mixed integer programming multi-objective portfolio optimization. The definitions of selected percentile risk measures are…

Abstract

This chapter presents the survey of selected linear and mixed integer programming multi-objective portfolio optimization. The definitions of selected percentile risk measures are presented. Some contrasts and similarities of the different types of portfolio formulations are drawn out. The survey of multi-criteria methods devoted to portfolio optimization such as weighting approach, lexicographic approach, and reference point method is also presented. This survey presents the nature of the multi-objective portfolio problems focuses on a compromise between the construction of objectives, constraints, and decision variables in a portfolio and the problem complexity of the implemented mathematical models. There is always a trade-off between computational time and the size of an input data, as well as the type of mathematical programming formulation with linear and/or mixed integer variables.

Book part
Publication date: 30 September 2022

Esra Sipahi Döngül and Luigi Pio Leonardo Cavaliere

Changing ecosystems with digitalisation, the value of information affects all sub-ecosystems, and due to societal changes, management approaches have started to be implemented…

Abstract

Changing ecosystems with digitalisation, the value of information affects all sub-ecosystems, and due to societal changes, management approaches have started to be implemented. This new administration digitalisation, which is the basis of their strategy, made it mandatory for them to adapt to technology. This article details the theoretical basis of the business ecosystem to investigate the integration of human-computer interaction (HCI) technology and platform business ecosystem into the artificial intelligence (AI) environment and to create practicality for the intellectual development of platform business strategy ecosystem management. Then, in the context of textile e-commerce, the intelligent clothing ecosystem is recommended, and the structure of the smart clothing ecosystem is created. A flexible production planning model with multiple constraints and maximum cost savings has been developed within system constraints and objective function scope. The standard genetic algorithm after optimisation was used to solve the aim of model function (based on double-layer integer coding). In the context of the parameters of the algorithm and textile layout, the algorithm was calculated with the MATLAB simulation tool, and then a textile experiment was carried out to solve the problem of system management. Finally, the audio, interactive customer survey results were analysed with structural equation modelling, and a human-computer interactive customer trust model was proposed. The results indicate that the calculation results of the objective function with 6 order sizes and 40 order sizes tend to be good and that the 6th order, respectively, tends to be good. The Gantt chart, calculated by the optimisation algorithm, can show the equipment selection strategy, start time and end time of each order in different workshops. The combination of each operation planning strategy is the production planning chart that corresponds to the order. It is thought that this study, AI-oriented HCI technology for future studies, can solve the strategic management problem of the platform business ecosystem, realise the efficient ecological functioning of the system and benefit businesses in this context.

Details

Management and Information Technology in the Digital Era
Type: Book
ISBN: 978-1-80382-296-9

Keywords

Book part
Publication date: 5 October 2018

Nima Gerami Seresht, Rodolfo Lourenzutti, Ahmad Salah and Aminah Robinson Fayek

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and…

Abstract

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and relies on the analysis of uncertain, imprecise and incomplete information, including subjective and linguistically expressed information. Various modelling and computing techniques have been used by construction researchers and applied to practical construction problems in order to overcome these challenges, including fuzzy hybrid techniques. Fuzzy hybrid techniques combine the human-like reasoning capabilities of fuzzy logic with the capabilities of other techniques, such as optimization, machine learning, multi-criteria decision-making (MCDM) and simulation, to capitalise on their strengths and overcome their limitations. Based on a review of construction literature, this chapter identifies the most common types of fuzzy hybrid techniques applied to construction problems and reviews selected papers in each category of fuzzy hybrid technique to illustrate their capabilities for addressing construction challenges. Finally, this chapter discusses areas for future development of fuzzy hybrid techniques that will increase their capabilities for solving construction-related problems. The contributions of this chapter are threefold: (1) the limitations of some standard techniques for solving construction problems are discussed, as are the ways that fuzzy methods have been hybridized with these techniques in order to address their limitations; (2) a review of existing applications of fuzzy hybrid techniques in construction is provided in order to illustrate the capabilities of these techniques for solving a variety of construction problems and (3) potential improvements in each category of fuzzy hybrid technique in construction are provided, as areas for future research.

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Keywords

Book part
Publication date: 5 May 2017

Bartosz Sawik, Javier Faulin and Elena Pérez-Bernabeu

The purpose of this chapter is to solve multi-objective formulation for traveling salesman and transportation problems. Computations are based on real data for the road freight…

Abstract

The purpose of this chapter is to solve multi-objective formulation for traveling salesman and transportation problems. Computations are based on real data for the road freight transportation of a Spanish company. The company was selected because of its importance in Spanish economy and market. This company is important in the whole country; however, it has its higher importance in the northern part of Spain. The requirements for these models are the minimization of total distance and the CO2 emissions. To achieve this, it is required to know and carry out the minimization of the total distance traveled by the trucks during the deliveries. The deliveries are going to be executed between the different locations, nodes, in the region, and Elorrio, where the depot is situated. The data have been used to decide the best route in order to obtain a minimization of cost for the company. As it was mentioned earlier, the problems are focused on the reduction of the amount of CO2 emissions and minimization of total distance; by studying different parameters, the best solutions of route transportation have been obtained. The software used to solve these models is CPLEX solver with AMPL programming language.

Book part
Publication date: 11 September 2020

Bartosz Sawik

Supply chain is an important aspect for all the companies and can affect many aspects of companies. Especially the disruption in supply chain is causing huge impacts and…

Abstract

Supply chain is an important aspect for all the companies and can affect many aspects of companies. Especially the disruption in supply chain is causing huge impacts and consequences that are difficult to deal with. This chapter presents a review of selected multiple criteria problems used in supply chain optimization. Research analyzed the multiple criteria decision-making methods to tackle the problem of supplier evaluation and selection. It also focuses on the problem of supply chain when a disruption happens and presents strategies to deal with the issue of disruptions in supply chain and how to mitigate the impact of disruptions. Prevention, response, protection, and recovery strategies are explained. Practical part is focused in the risk-averse models to minimize expected worst-case scenario by single sourcing. Computational experiments for practical examples have been solved using CPLEX solver.

Book part
Publication date: 20 August 2018

Bartosz Sawik

In this chapter, four bi-objective vehicle routing problems are considered. Weighted-sum approach optimization models are formulated with the use of mixed-integer programming. In…

Abstract

In this chapter, four bi-objective vehicle routing problems are considered. Weighted-sum approach optimization models are formulated with the use of mixed-integer programming. In presented optimization models, maximization of capacity of truck versus minimization of utilization of fuel, carbon emission, and production of noise are taken into account. The problems deal with real data for green logistics for routes crossing the Western Pyrenees in Navarre, Basque Country, and La Rioja, Spain.

Heterogeneous fleet of trucks is considered. Different types of trucks have not only different capacities, but also require different amounts of fuel for operations. Consequently, the amount of carbon emission and noise vary as well. Modern logistic companies planning delivery routes must consider the trade-off between the financial and environmental aspects of transportation. Efficiency of delivery routes is impacted by truck size and the possibility of dividing long delivery routes into smaller ones. The results of computational experiments modeled after real data from a Spanish food distribution company are reported. Computational results based on formulated optimization models show some balance between fleet size, truck types, and utilization of fuel, carbon emission, and production of noise. As a result, the company could consider a mixture of trucks sizes and divided routes for smaller trucks. Analyses of obtained results could help logistics managers lead the initiative in environmental conservation by saving fuel and consequently minimizing pollution. The computational experiments were performed using the AMPL programming language and the CPLEX solver.

Book part
Publication date: 15 August 2006

David L. Bakuli

A survey of multi-objective scheduling techniques on the job shop problem is offered in this chapter. The survey traces the development of techniques from Integer programming to…

Abstract

A survey of multi-objective scheduling techniques on the job shop problem is offered in this chapter. The survey traces the development of techniques from Integer programming to genetic algorithms that take advantage of the power of recent computing technology. Applications are in areas as diverse as job scheduling, nurse scheduling, and groundwater monitoring.

Details

Applications of Management Science: In Productivity, Finance, and Operations
Type: Book
ISBN: 978-0-85724-999-9

Book part
Publication date: 25 April 2022

Duc-Hoc Tran and Putri Basenda Tarigan

The concept of sustainability is about the relationships among people, the planet, and profit. Nowadays, it has been spread to many areas, including construction projects

Abstract

The concept of sustainability is about the relationships among people, the planet, and profit. Nowadays, it has been spread to many areas, including construction projects. Sustainability in construction projects has been so important in the present time. It is commonly pointed to the environment and construction materials. Nevertheless, it is also important in construction management which addresses sustainable project scheduling. Sustainable project scheduling will help to deliver the project under the deadlines, within the available budget, and also ensuring about the quality of the works. This study presents the trade-off among time, cost, and quality in the construction project to provide the decision-maker some alternative solutions in the planning phase to conduct a sustainable construction project. Multi-objective optimisation using Symbiotic Organism Search (SOS) algorithm is done to find the best solutions to the problem under investigation. Then, fuzzy logic approach is utilised to model the diverse environment and uncertainty in the construction project. A case study in repetitive construction project is analysed to see the capability of the model to work in time cost quality trade-off to reach into a sustainable construction project.

Book part
Publication date: 12 April 2012

Bartosz T. Sawik

This chapter presents a multi-criteria portfolio model with the expected return as a performance measure and the expected worst-case return as a risk measure. The problems are…

Abstract

This chapter presents a multi-criteria portfolio model with the expected return as a performance measure and the expected worst-case return as a risk measure. The problems are formulated as a single-objective linear program, as a bi-objective linear program, and as a triple-objective mixed integer program. The problem objective is to allocate the wealth on different securities to optimize the portfolio return. The portfolio approach has allowed the two popular financial engineering percentile measures of risk, value-at-risk (VaR) and conditional value-at-risk (CVaR) to be applied. The decision-maker can assess the value of portfolio return, the risk level, and the number of assets, and can decide how to invest in a real-life situation comparing with ideal (optimal) portfolio solutions. The concave efficient frontiers illustrate the trade-off between the conditional value-at-risk and the expected return of the portfolio. Numerical examples based on historical daily input data from the Warsaw Stock Exchange are presented and selected computational results are provided. The computational experiments prove that both proposed linear and mixed integer programming approaches provide the decision-maker with a simple tool for evaluating the relationship between the expected and the worst-case portfolio return.

Details

Applications of Management Science
Type: Book
ISBN: 978-1-78052-100-8

Book part
Publication date: 3 February 2015

Bartosz Sawik

This chapter presents two optimization multicriteria models (bi and triple objective) using a lexicographic approach. Solved models are formulated as assignment of workers to…

Abstract

This chapter presents two optimization multicriteria models (bi and triple objective) using a lexicographic approach. Solved models are formulated as assignment of workers to different jobs or services of a real hospital, taking into account the available budget and requirements of each job. Presented problems have been solved using AMPL programming language with solver CPLEX v9.1, with the use of branch and bound method for mixed integer mathematical programming.

Details

Applications of Management Science
Type: Book
ISBN: 978-1-78441-211-1

Keywords

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