Forecast frequency in rolling horizon hedging heuristics for capacity expansion

Article Abstract:

A simulation study of the impact of forecast revisions and hedges against demand uncertainty in a rolling horizon heuristic for capacity expansion indicates that prediction limit hedge remarkably decreases undercapacity at the expense of a small growth in capacity cost. Moreover, the prediction limit hedge may increase the discounted cost slightly but considerably reducing the frequency and amounts of capacity shortages. These impacts are exaggerated when frequency of forecast revisions are decreased.

Management, Hedging (Finance), Forecasting, Industrial capacity

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Optimization modeling for estimating and enhancing relative efficiency with application to industrial companies

Article Abstract:

A study was conducted to assess the operational efficiency of manufacturing companies in the context of a developing country. Also, a revised model of Data Envelopment Analysis (DEA) for eliminating inefficiencies was used by placing restrictions on input and output factors. Data on 55 manufacturing shareholding firms in Jordan were gathered. To obtain information on how the DEA results were accepted and implemented by the companies studied, interviews and discussions were undertaken.

Industrial efficiency, Economic efficiency, Data envelopment analysis

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Decomposition of unreliable assembly/disassembly networks with limited buffer capacity and random processing times

Article Abstract:

The assembly/disassembly (A/D) network manufacturing system with finite buffers and unreliable machines is approximately analyzed by modeling non-deterinistic processing times in A/D system. Markov process models were also developed to for discrete time and continuous time systems and were found to be effective in determining performance measures that can lead to an improved parameter updating procedure.

Markov processes, Assembly-line methods, Assembly lines

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