Search results

1 – 10 of over 162000
Click here to view access options
Book part
Publication date: 29 May 2009

William A. Barnett and Apostolos Serletis

This chapter is an up-to-date survey of the state-of-the art in consumer demand analysis. We review (and evaluate) advances in a number of related areas, in the spirit of…

Abstract

This chapter is an up-to-date survey of the state-of-the art in consumer demand analysis. We review (and evaluate) advances in a number of related areas, in the spirit of the recent survey paper by Barnett and Serletis (2008). In doing so, we only deal with consumer choice in a static framework, ignoring a number of important issues, such as, the effects of demographic or other variables that affect demand, welfare comparisons across households (equivalence scales), and the many issues concerning aggregation across consumers.

Details

Quantifying Consumer Preferences
Type: Book
ISBN: 978-1-84855-313-2

Keywords

Click here to view access options
Article
Publication date: 27 July 2012

Asli Aksoy, Nursel Ozturk and Eric Sucky

Demand forecasting in the clothing industry is very complex due to the existence of a wide range of product references and the lack of historical sales data. To the…

Downloads
2366

Abstract

Purpose

Demand forecasting in the clothing industry is very complex due to the existence of a wide range of product references and the lack of historical sales data. To the authors' knowledge, there is an inadequate number of literature studies to forecast the demand with the adaptive network based fuzzy inference system for the clothing industry. The purpose of this paper is to construct a decision support system for demand forecasting in the clothing industry.

Design/methodology/approach

The adaptive‐network‐based fuzzy inference system (ANFIS) is used for forecasting demand in the clothing industry.

Findings

The results of the proposed study showed that an ANFIS‐based demand forecasting system can help clothing manufacturers to forecast demand more accurately, effectively and simply.

Originality/value

In this study, the demand is forecast in terms of clothing manufacturers by using ANFIS. ANFIS is a new technique for demand forecasting, it combines the learning capability of the neural networks and the generalization capability of the fuzzy logic. The input and output criteria are determined based on clothing manufacturers' requirements and via literature research, and the forecasting horizon is about one month. The study includes the real life application of the proposed system and the proposed system is tested by using real demand values for clothing manufacturers.

Details

International Journal of Clothing Science and Technology, vol. 24 no. 4
Type: Research Article
ISSN: 0955-6222

Keywords

Click here to view access options
Article
Publication date: 11 March 2014

Asli Aksoy, Nursel Öztürk and Eric Sucky

According to literature research and conversations with apparel manufacturers' specialists, there is not any common analytic method for demand forecasting in apparel…

Downloads
2186

Abstract

Purpose

According to literature research and conversations with apparel manufacturers' specialists, there is not any common analytic method for demand forecasting in apparel industry and to the authors' knowledge, there is not adequate number of study in literature to forecast the demand with adaptive network-based fuzzy inference system (ANFIS) for apparel manufacturers. The purpose of this paper is constructing an effective demand forecasting system for apparel manufacturers.

Design/methodology/approach

The ANFIS is used forecasting the demand for apparel manufacturers.

Findings

The results of the proposed study showed that an ANFIS-based demand forecasting system can help apparel manufacturers to forecast demand accurately, effectively and simply.

Originality/value

ANFIS is a new technique for demand forecasting, combines the learning capability of the neural networks and the generalization capability of the fuzzy logic. In this study, the demand is forecasted in terms of apparel manufacturers by using ANFIS. The input and output criteria are determined based on apparel manufacturers' requirements and via literature research and the forecasting horizon is about one month. The study includes the real-life application of the proposed system, and the proposed system is tested by using real demand values for apparel manufacturers.

Details

Journal of Modelling in Management, vol. 9 no. 1
Type: Research Article
ISSN: 1746-5664

Keywords

Click here to view access options
Article
Publication date: 1 February 1991

John Gattorna, Abby Day and John Hargreaves

Key components of the logistics mix are described in an effort tocreate an understanding of the total logistics concept. Chapters includean introduction to logistics; the…

Downloads
4568

Abstract

Key components of the logistics mix are described in an effort to create an understanding of the total logistics concept. Chapters include an introduction to logistics; the strategic role of logistics, customer service levels, channel relationships, facilities location, transport, inventory management, materials handling, interface with production, purchasing and materials management, estimating demand, order processing, systems performance, leadership and team building, business resource management.

Details

Logistics Information Management, vol. 4 no. 2
Type: Research Article
ISSN: 0957-6053

Keywords

Click here to view access options
Article
Publication date: 4 May 2020

Mikhail Geraskin

This paper aims to investigate the problem of searching for the equilibrium in the housing market, the mortgage lending market and the insurance market in the process of…

Abstract

Purpose

This paper aims to investigate the problem of searching for the equilibrium in the housing market, the mortgage lending market and the insurance market in the process of selling the residential property. Three classes of markets are established in three modes, which reflect the interdependence of the firms’ interests in these markets through the parameters of their integration. The paper aims to determine the prices in these markets on the basis of the compromises among the conflicting interests of the related firms, and, in addition, to assess the rationality of integration for firms, which are participants in the process of selling the residential property.

Design/methodology/approach

On the basis of the revenue sharing contracts and the supply chain coordination methods, the optimization models of the housing realtor, the mortgage bank and the insurance company are developed. The models consider the interdependence of the firms’ interests, the monopolistic competition in these markets and the conditions of the firms’ individual rationality in the interaction process.

Findings

The results of the study are as follows. First, as a consequence of a decrease in the demand curves in monopolistic competition, the housing market, the mortgage market and the insurance market are interconnected, therefore, the optimization models of the firms in these markets are interdependent through the revenue sharing parameters. Second, in these markets the individual firms’ sales optimums are not identical, therefore, the interests of the firms are contradictory. Third, in the realtor-bank-insurer system, the equilibrium satisfies the condition of zero revenue sharing payments between the agents; additionally, the equilibrium prices in these markets are mutually independent. Fourth, in the disequilibrium, the prices in these markets are interrelated, i.e. the price in one market increases with the price in another market, if the payment is directed from the former to the latter, and vice versa.

Research limitations/implications

The results of the study are applicable in practice, if the markets demonstrate the decreasing demand curves and if the needs of buyers in related markets are interconnected.

Practical implications

The interaction between the realtor and the mortgage bank enables the realtor to raise its sales and the bank to increase in the number of loans, i.e. it leads to growth of their profits. The interaction between the insurer and the mortgage bank enables the insurer to increase in the number of policies and the bank to reduce the risk of lending, i.e. it leads to an increase in their profits. The identification of the individual firms’ sales optimums enables agents to determine the terms of the contracts of these interactions, which are compromises from the positions of each transaction participants. In addition, the firms’ optimums indicate the predictions of the equilibrium market prices.

Originality/value

In comparison with the studies in the contract theory framework, first, the mathematical description of the complicated (three-agent) system of interactions is proposed; second, the optimal choice non-linear models are developed, which take into account the non-linear demand functions in the monopolistic competition markets; third, the equilibrium of the agents with contradictory interests is investigated. In the later item, the authors establish that the revenue sharing contracts in the complimentary demands functions systems do not require the payments between the participants. Fourth, the authors prove that, in the equilibrium of these markets, the housing prices, the mortgage interest rates and the insurance rates are mutually independent and equal to the prices in the isolated markets.

Details

Kybernetes, vol. 50 no. 5
Type: Research Article
ISSN: 0368-492X

Keywords

Click here to view access options
Article
Publication date: 10 July 2009

Malek Abu Rumman, Mohammad Hiyassat, Bashar Alsmadi, Ahmad Jamrah and Maha Alqam

The purpose of this paper is to assess the long‐term ability of the Integrated Southern Ghor Project (ISGP) to meet the required water demands, assess the resulting energy…

Abstract

Purpose

The purpose of this paper is to assess the long‐term ability of the Integrated Southern Ghor Project (ISGP) to meet the required water demands, assess the resulting energy requirements, pumping costs, water transfers, benefits of the current system with respect to predevelopment conditions and effect of projected water demands increase on the resulting water deficits.

Design/methodology/approach

A surface water resources management model is developed using dynamic programming. The model inputs are the hydrological inflows from the different wadis in the project area, reservoirs characteristics and evaporation rates, system water demands. The model outputs are water deficits at the different demand areas, reservoirs storage and release sequences, water transfers and energy requirements and the associated costs. The average annual values of different performance criteria with the annual frequency curves are used to evaluate the implications of different water scenarios on the ISGP.

Findings

The results show the efficiency of the ISGP model in reducing the water deficits in the demand areas as compared to predevelopment conditions. Increased demand scenario showed the importance of finding new water projects to supplement the Southern Ghor Area in the future in order to meet the increasing water demands. The proposed water transfer will reduce the resulting deficits at the agricultural areas without the expenses of increasing the water deficits at other demand areas. The application of this model is expected to enhance decision making regarding water policies in Jordan.

Originality/value

This paper provides critical quantitative information to decision makers in Jordan about the potential of the different storage facilities and proposed transfers in meeting the required water demands in the Southern Ghor Project and assesses the required energy for that. This can help decision makers to have a holistic view about the expected water deficits in the area and therefore assist them in determining the areas impacted most and what alternative solution to use. The paper also shows the importance of using optimal control/management models to support water resources decision making in Jordan.

Details

Construction Innovation, vol. 9 no. 3
Type: Research Article
ISSN: 1471-4175

Keywords

Click here to view access options
Book part
Publication date: 29 May 2009

Matthew T. Holt and Barry K. Goodwin

This chapter reviews the specification and application of the Deaton and Muellbauer's (1980) almost ideal demand system (AIDS) and the Christensen et al. (1975) translog…

Abstract

This chapter reviews the specification and application of the Deaton and Muellbauer's (1980) almost ideal demand system (AIDS) and the Christensen et al. (1975) translog (TL) demand system. In so doing we examine various refinements to these models, including ways of incorporating demographic effects, methods by which curvature conditions can be imposed, and issues associated with incorporating structural change and seasonal effects. We also review methods for adjusting for autocorrelation in the models' residuals. A set of empirical examples for the AIDS and the log TL version of the translog based on historical meat price and consumption data for the United States are also presented.

Details

Quantifying Consumer Preferences
Type: Book
ISBN: 978-1-84855-313-2

Keywords

Click here to view access options
Article
Publication date: 1 February 1994

Charles A. Watts, Chan K. Hahn and Byung‐Kyu Sohn

In order to ensure that an inventory system is performing correctly,management must continually monitor the system and take correctiveaction as necessary. Only a few…

Downloads
2879

Abstract

In order to ensure that an inventory system is performing correctly, management must continually monitor the system and take corrective action as necessary. Only a few previous articles have suggested techniques for monitoring and diagnosing the performance of a reorder point system. Uses statistical process control charts to monitor the systems performance on an ongoing basis. The proposed system is triggered by unplanned stockouts or by a periodic review of each item′s inventory turnover rate. The system then systematically analyses the stockout and the control charts and identifies the causes, which can be fitness‐related and/or operations related. Problems can be quickly diagnosed and corrective action taken so the reorder point system will perform as intended.

Details

International Journal of Operations & Production Management, vol. 14 no. 2
Type: Research Article
ISSN: 0144-3577

Keywords

Click here to view access options
Article
Publication date: 1 September 1995

Yannick Frein, Maria Di Mascolo and Yves Dallery

Considers a class of control systems known as generalized kanban control systems (GKCS) which can be used to implement a pullcontrol mechanism in a manufacturing system

Downloads
1999

Abstract

Considers a class of control systems known as generalized kanban control systems (GKCS) which can be used to implement a pull control mechanism in a manufacturing system. In a GKCS, the production system is decomposed into stages, where each stage consists of a production sub‐system. There are two design parameters per stage: one controls the work‐in‐process in the stage and the other determines the maximum number of finished products of this stage. Investigates the influence of these design parameters on the efficiency of generalized kanban control policies by deriving qualitative properties as well as using experimental results on the behaviour of GKCS.

Details

International Journal of Operations & Production Management, vol. 15 no. 9
Type: Research Article
ISSN: 0144-3577

Keywords

Click here to view access options
Article
Publication date: 23 August 2011

Neal Wagner, Zbigniew Michalewicz, Sven Schellenberg, Constantin Chiriac and Arvind Mohais

The purpose of this paper is to describe a real‐world system developed for a large food distribution company which requires forecasting demand for thousands of products…

Downloads
3642

Abstract

Purpose

The purpose of this paper is to describe a real‐world system developed for a large food distribution company which requires forecasting demand for thousands of products across multiple warehouses. The number of different time series that the system must model and predict is on the order of 105. The study details the system's forecasting algorithm which efficiently handles several difficult requirements including the prediction of multiple time series, the need for a continuously self‐updating model, and the desire to automatically identify and analyze various time series characteristics such as seasonal spikes and unprecedented events.

Design/methodology/approach

The forecasting algorithm makes use of a hybrid model consisting of both statistical and heuristic techniques to fulfill these requirements and to satisfy a variety of business constraints/rules related to over‐ and under‐stocking.

Findings

The robustness of the system has been proven by its heavy and sustained use since being adopted in November 2009 by a company that serves 91 percent of the combined populations of Australia and New Zealand.

Originality/value

This paper provides a case study of a real‐world system that employs a novel hybrid model to forecast multiple time series in a non‐static environment. The value of the model lies in its ability to accurately capture and forecast a very large and constantly changing portfolio of time series efficiently and without human intervention.

Details

International Journal of Intelligent Computing and Cybernetics, vol. 4 no. 3
Type: Research Article
ISSN: 1756-378X

Keywords

1 – 10 of over 162000