Insurance as a financial instrument has been used for a long time. The dramatic increase in competition within the insurance sector (in terms of providers coupled with awareness for the need for insurance) has concomitantly resulted in more policy options being available in the market. The...

With increasing liquidity of the Indian sovereign debt market from 1997, it has become possible to estimate the term structure in India. However, several frictions that cause individual securities to be priced differently from the "average" pricing in the market characterize the market. In such...

We introduce how a generic multi-period optimization based decision support system (DSS) can be used for strategic and operational planning in a company with five fundamental elements, namely Materials, Facilities, Activities, Times and Storage-Areas. This DSS which optimizes the company’s...

We discuss how a generic multi-period optimization based decision support system (DSS) can be used for strategic and operational planning in a company with five fundamental elements, namely, Materials, Facilities, Activities, Times and Storage-Areas. This DSS which optimizes the company’s...

In this paper we discuss a deterministic model for computing the capacity of the escalator in London Underground. We develop this model from fundamental principles of engineering by separating the capacities of standing and walking side of the escalator. By collecting real world data, we find...

We describe how a generic multi-period optimization-based decision support system can be used for strategic and operational planning in a company whose processes can be described in terms of five fundamental elements: Materials, Facilities, Activities, Times and Storage-Areas. We discuss the...

In this paper, we describe the capacity management of Intensive Care Units (ICUs) in a 300-bed multi-specialty hospital where the alternative ICU is utilized when the appropriate ICU is full for a set of two types of ICUs. Inter-arrival time and service time distributions in these ICUs have been...

The Cumulative Sum (CUSUM) procedure is an effective statistical process control tool that can be used to monitor quality of ready mixed concrete (RMC) during its production process. Online quality monitoring refers to monitoring of the concrete quality at the RMC plant during its production...

In this paper we describe the application of the multi-period optimization based DSS in a polymer manufacturing company in India. This is probably the first attempt to use a mathematical programming model for operating and strategic decision making a polymer manufacturing company in India. The...

In this paper, we discuss a method of measurement of project risk, based on the expected value method (EVM). Project risk management primarily comprises cost and schedule uncertainties and risks associated with each activity of the project network. We have identified the major risk sources and...