In this study, we use zero-one variables to control fixed transaction costs independent of trade size in the portfolio selection problem. The optimal solution to the maximum flow, risk constrained stochastic portfolio network is found using Digital Portfolio Theory (DPT). Digital signals...

This paper develops scalable and effective yet simple heuristic methods for material assignment in a large discrete Build-To-Order (BTO) environment. The material assignment function allocates available supplies of raw material to orders over a period of time. Despite popular belief to the...

In the last few years, multivariate quality control has been thoroughly studied. The control of the population means vector is usually obtained by using multivariate control charts developed for this purpose. Nevertheless, when the goal is the efficient control of the covariance matrix, few...

In this study, we use zero-one variables to control fixed transaction costs independent of trade size in the portfolio selection problem. The optimal solution to the maximum flow, risk constrained stochastic portfolio network is found using Digital Portfolio Theory (DPT). Digital signals...

Recognising the learning styles of today's upper level engineering undergraduates, a multimedia educational tool is developed to supplement traditional instruction in courses related to Materials Handling (MH) and facility design. The CD-ROM based system teaches design and analysis principles by...

Today supply chains leverage their partner's competencies and in the process also inherit the risks associated with various links of a supply chain. Although it is impossible to completely eliminate various risks, an environment can be created which helps to effectively mitigate risk. The most...

When a batch of jobs are waiting for services from a machine or resource, sometimes it is desirable to minimise the variance of job waiting times Waiting Time Variance (WTV) for service stability to all the jobs in the batch so that the jobs have about the same waiting times. Many factors,...

In this paper, we propose to discuss profitability conditions of a subcontracting constraint for subcontractor companies. The subcontracting imposes unavailability periods of the production unit in order to periodically perform subcontracting tasks (ST). We study the subcontracting constraint...

In this paper, a framework for assessing the cost effectiveness of lean tools is developed. The framework consists of eight phases within the plan-do-check-act (PDCA) problem solving and continuous improvement cycle. The framework was verified using a case study of a sawmill process at a wood...

This research develops a demand management system, incorporating a machine-rate model, a rough-cut capacity planning (RCCP) model, and a demand management model for the fishing-net production industry. The machine-rate model is used to calculate a machine workload for the RCCP model to estimate...