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Abstract

Details

Understanding Financial Risk Management, Third Edition
Type: Book
ISBN: 978-1-83753-253-7

Content available
Book part
Publication date: 27 May 2024

Angelo Corelli

Abstract

Details

Understanding Financial Risk Management, Third Edition
Type: Book
ISBN: 978-1-83753-253-7

Article
Publication date: 8 May 2024

Jing Ma

The diffusion of technologies from other sectors, and innovations in kitchen equipment, fueled structural changes within the foodservice industry. However, this change comes at a…

Abstract

Purpose

The diffusion of technologies from other sectors, and innovations in kitchen equipment, fueled structural changes within the foodservice industry. However, this change comes at a price of disrupting the critical step of assessing the demand forecast accuracy. This study aims to explore a surprisingly unique and elevated complexity when assessing the critically important demand forecast accuracy.

Design/methodology/approach

The paper develops a mathematical model to describe and explore the nature of the problem in structural biased demand forecast accuracy assessment. It then uses numerical simulation to construct a market example to gain better insights on the bias characteristics. Finally, the forecast accuracy measurement’s inherent bias is contrasted with that of other typical hospitality forecasting setups.

Findings

This paper outlines the theoretical underpinnings of how demand forecasts in the central kitchen setup are dynamic and thus produce a structural bias. More specifically, this paper discovers how, in this context of orders from a central location, the forecasts set the capacity constraints, and, consequently, generate a considerably more biased forecast accuracy measure. Relying on such forecast accuracy measures can lead to serious negative business outcomes.

Originality/value

To the best of the author’s knowledge, this study is the first to show that in the unique new technology enabled environment of central kitchen operation, where daily dish demand forecasts set the daily constrained capacity levels, the accuracy measure is severely biased, and consequently accuracy is likely to deteriorate, which in turn, could lead to suboptimal decisions. The major theoretical contribution of this study is a novel analytical model which explains and describes the bias in the accuracy measurement.

研究目的

技术从其他行业的传播以及厨房设备的创新推动了餐饮业内的结构变化。然而, 这种变化直接影响了评估需求预测准确性。本研究探讨了在餐饮业结构改变后,评估至关重要的需求预测准确性时所面临的令人独特和复杂性。

研究方法

本文自研了一个数学模型来描述和探讨评估需求预测准确性中的结构性偏差的本质。然后, 使用数值模拟构建一个市场示例, 以更好地了解上述偏差的特征。最后, 将这种预测准确性评估的系统性偏差与其他传统的餐饮业需求预测情境进行对比。

研究发现

本文概述了中央厨房运营中需求预测是动态的, 因此产生了结构性偏差的理论基础。更具体地说, 在使用中央厨房并集中订单的情境下, 本文发现需求预测直接设定了容量限制, 因此产生了在需求预测准确度衡量中的结构性偏差。依赖这样的预测准确性度量可能产生严重的负面商业结果。

研究创新

这项研究首次表明, 在中央厨房运营的独特的新环境中, 由于新的设定即每日菜品需求预测直接决定每日容量水平, 需求预测准确度衡量标准有着严重偏差, 长期来讲准确性可能下降, 从而导致次优的商业决策。本研究的主要理论贡献是提供一个餐饮企业在新运营环境中解释和描述需求预测准确度中结构性偏差的全新分析模型。

Details

Journal of Hospitality and Tourism Technology, vol. 15 no. 3
Type: Research Article
ISSN: 1757-9880

Keywords

Article
Publication date: 9 January 2024

Mahendra Saha, Pratibha Pareek, Harsh Tripathi and Anju Devi

First is to develop the time truncated median control chart for the Rayleigh distribution (RD) and generalized RD (GRD), respectively. Second is to evaluate the performance of…

Abstract

Purpose

First is to develop the time truncated median control chart for the Rayleigh distribution (RD) and generalized RD (GRD), respectively. Second is to evaluate the performance of the proposed attribute control chart which depends on the average run length (ARL) and third is to include real life examples for application purpose of the proposed attribute control chart.

Design/methodology/approach

(1) Select a random sample of size n from each subgroup from the production process and put them on a test for specified time t, where t = ? × µe. Then, count the numbers of failed items in each subgroup up to time t. (2) Step 2: Using np chart, define D = np, the number of failures, which also a random variable follows the Binomial distribution. It is better to use D = np chart rather than p chart because the authors are using number of failure rather than proportion of failure p. When the process is in control, then the parameters of the binomial distribution are n and p0, respectively. (3) Step 3: The process is said to be in control if LCL = D = UCL; otherwise, the process is said to be out of control. Hence, LCL and UCL for the proposed control chart.

Findings

From the findings, it is concluded that the GRD has smaller ARL values than the RD for specified values of parameters, which indicate that GRD performing well for out of control signal as compared to the RD.

Research limitations/implications

This developed control chart is applicable when real life situation coincide with RD and GRD.

Social implications

Researcher can directly use presented study and save consumers from accepting bad lot and also encourage producers to make good quality products so that society can take benefit from their products.

Originality/value

This article dealt with time truncated attribute median control chart for non-normal distributions, namely, the RD and GRD, respectively. The structure of the proposed control chart is developed based on median lifetime of the RD and GRD, respectively.

Details

International Journal of Quality & Reliability Management, vol. 41 no. 5
Type: Research Article
ISSN: 0265-671X

Keywords

Content available
Book part
Publication date: 27 May 2024

Angelo Corelli

Abstract

Details

Understanding Financial Risk Management, Third Edition
Type: Book
ISBN: 978-1-83753-253-7

Open Access
Article
Publication date: 28 February 2024

Luke Mizzi, Arrigo Simonetti and Andrea Spaggiari

The “chiralisation” of Euclidean polygonal tessellations is a novel, recent method which has been used to design new auxetic metamaterials with complex topologies and improved…

Abstract

Purpose

The “chiralisation” of Euclidean polygonal tessellations is a novel, recent method which has been used to design new auxetic metamaterials with complex topologies and improved geometric versatility over traditional chiral honeycombs. This paper aims to design and manufacture chiral honeycombs representative of four distinct classes of 2D Euclidean tessellations with hexagonal rotational symmetry using fused-deposition additive manufacturing and experimentally analysed the mechanical properties and failure modes of these metamaterials.

Design/methodology/approach

Finite Element simulations were also used to study the high-strain compressive performance of these systems under both periodic boundary conditions and realistic, finite conditions. Experimental uniaxial compressive loading tests were applied to additively manufactured prototypes and digital image correlation was used to measure the Poisson’s ratio and analyse the deformation behaviour of these systems.

Findings

The results obtained demonstrate that these systems have the ability to exhibit a wide range of Poisson’s ratios (positive, quasi-zero and negative values) and stiffnesses as well as unusual failure modes characterised by a sequential layer-by-layer collapse of specific, non-adjacent ligaments. These findings provide useful insights on the mechanical properties and deformation behaviours of this new class of metamaterials and indicate that these chiral honeycombs could potentially possess anomalous characteristics which are not commonly found in traditional chiral metamaterials based on regular monohedral tilings.

Originality/value

To the best of the authors’ knowledge, the authors have analysed for the first time the high strain behaviour and failure modes of chiral metamaterials based on Euclidean multi-polygonal tessellations.

Details

Rapid Prototyping Journal, vol. 30 no. 11
Type: Research Article
ISSN: 1355-2546

Keywords

Article
Publication date: 5 December 2023

Musa Ghazwani, Ibrahim Alamir, Rami Ibrahim A. Salem and Nedal Sawan

This study aims to examine the impact of corporate governance (CG) on anti-corruption disclosure (A-CD), paying particular attention to the FTSE 100. Notably, it examines how…

Abstract

Purpose

This study aims to examine the impact of corporate governance (CG) on anti-corruption disclosure (A-CD), paying particular attention to the FTSE 100. Notably, it examines how board and audit committees’ characteristics affect the quantity and quality of anti-corruption disclosure.

Design/methodology/approach

Data from FTSE 100 firms, spanning the period from 2014 to 2020, were analysed using the regression of the Poisson fixed effect and GEE analyses.

Findings

The findings show that gender diversity, audit committee expertise and the independence of the audit committee are positively associated with both quantity and quality of anti-corruption disclosure. Notably, no statistically significant relationships were identified between anti-corruption disclosure and factors such as board size, role duality or board meetings.

Research limitations/implications

The findings provide valuable insights for decision-makers and regulatory bodies, shedding light on the elements that compel UK companies to enhance their anti-corruption disclosure and governance protocols to alleviate corruption and propel efforts towards ethical behaviour.

Originality/value

This study makes a notable contribution to the sparse body of evidence by examining the influence of board and audit committee attributes on anti-corruption disclosure subsequent to the implementation of the UK Bribery Act in 2010. Specifically, to the best of the authors’ knowledge, this study assesses for the first time the impact of board and audit committee mechanisms on both the quantity and quality of anti-corruption disclosure.

Details

International Journal of Accounting & Information Management, vol. 32 no. 2
Type: Research Article
ISSN: 1834-7649

Keywords

Article
Publication date: 4 April 2023

Soumaya Hadri, Souhila Rehab Bekkouche and Salah Messast

The paper aims to present an experimental and numerical investigation of the load–settlement behavior of soil reinforced by stone column, as well as to evaluate the plane strain…

Abstract

Purpose

The paper aims to present an experimental and numerical investigation of the load–settlement behavior of soil reinforced by stone column, as well as to evaluate the plane strain unit cell model for the analysis of stone columns.

Design/methodology/approach

The numerical analysis was done using both axisymmetric and plane strain models. The elastic perfectly plastic behavior of Mohr–Coulomb was adopted for both soil and column material. The numerical results of this study were validated by the comparison with the in-situ measurements of a full-scale loading test on a stone column. This study also evaluated the effect of different parameters involved in the design of a stone column, including Young’s modulus of the column material, column diameter, spacing between the stone columns and Poisson’s ratio of the column material.

Findings

After the numerical simulation, the results from both axisymmetric and plane strain models are quite comparable. In addition, the numerical results revealed that the stone column with low spacing, a large diameter and a high Young’s modulus indicated better behavior against the settlement.

Originality/value

The axisymmetric unit cell model was used in many numerical studies on the behavior of stone columns. In the present work, a field load test on stone column was simulated using a plane strain unit cell model. This research adds that the plane strain unit cell model can be used to predict the settlement of reinforced soil with stone columns.

Details

World Journal of Engineering, vol. 21 no. 3
Type: Research Article
ISSN: 1708-5284

Keywords

Abstract

Details

Understanding Financial Risk Management, Third Edition
Type: Book
ISBN: 978-1-83753-253-7

Article
Publication date: 30 April 2024

Supen Kumar Sah and Anup Ghosh

The purpose of this study is to investigate the bending analysis of metal (Ti-6Al-4V)-ceramic (ZrO2) functionally graded material (FGM) sandwich plate with material property…

Abstract

Purpose

The purpose of this study is to investigate the bending analysis of metal (Ti-6Al-4V)-ceramic (ZrO2) functionally graded material (FGM) sandwich plate with material property gradation along length and thickness direction under thermo-mechanical loading using inverse trigonometric shear deformation theory (ITSDT). FGM sandwich plate with a ceramic core and continuous variation of material properties has been modelled using Voigt’s micro-mechanical model following the power law distribution method. The impact of bi-directional gradation of material properties over the bending response of FGM plate under thermo-mechanical loading has been investigated in this work.

Design/methodology/approach

In this study, gradation of material properties for FGM plates is considered along length and thickness directions using Voigt’s micromechanical model following the power law distribution method. This type of FGM is called bi-directional FGMs (BDFGM). Mechanical and thermal properties of BDFGM sandwich plates are considered temperature-dependent in the present study. ITSDT is a non-polynomial shear deformation theory which requires a smaller number of field variables for modelling of displacement function in comparison to poly-nominal shear deformation theories which lead to a reduction in the complexity of the problem. In the present study, ITSDT has been utilized to obtain the governing equations for thermo-mechanical bending of simply supported uni-directional FGM (UDFGM) and BDFGM sandwich plates. Analytical solution for bending analysis of rectangular UDFGM and BDFGM sandwich plates has been carried out using Hamilton’s principle.

Findings

The bending response of the BDFGM sandwich plate under thermo-mechanical loading has been analysed and discussed. The present study shows that centre deflection, normal stress and shear stress are significantly influenced by temperature-dependent material properties, bi-directional gradation exponents along length and thickness directions, geometrical parameters, sandwich plate layer thickness, etc. The present investigation also reveals that bi-directional FGM sandwich plates can be designed to obtain thermo-mechanical bending response with an appropriate selection of gradation exponents along length and thickness direction. Non-dimensional centre deflection of BDFGM sandwich plates decreases with increasing gradation exponents in length and thickness directions. However, the non-dimensional centre deflection of BDFGM sandwich plates increases with increasing temperature differences.

Originality/value

For the first time, the FGM sandwich plate with the bi-directional gradation of material properties has been considered to investigate the bending response under thermo-mechanical loading. In the literature, various polynomial shear deformation theories like first-order shear deformation theory (FSDT), third-order shear deformation theory (TSDT) and higher-order shear deformation theory (HSDT) have been utilized to obtain the governing equation for bending response under thermo-mechanical loading; however, non-polynomial shear deformation theory like ITSDT has been used for the first time to obtain the governing equation to investigate the bending response of BDFGM. The impact of bi-directional gradation and temperature-dependent material properties over centre deflection, normal stress and shear stress has been analysed and discussed.

Details

International Journal of Structural Integrity, vol. 15 no. 3
Type: Research Article
ISSN: 1757-9864

Keywords

1 – 10 of 38