scholarly journals Simulation-based decision-making system for optimal mine production plan selection

2022 ◽  
Author(s):  
Jyrki Savolainen ◽  
Ramin Rakhsha ◽  
Richard Durham
Keyword(s):  
Decision Making ◽  
Planning Process ◽  
Mine Planning ◽  
Price Uncertainty ◽  
Managerial Decision ◽  
Price Development ◽  
Planning Software ◽  
Simulation Based ◽  
Plan Selection ◽  
Mine Plan

AbstractPrice uncertainty is one of the major uncertainties in the life of mine (LOM) planning process which can have a decisive effect on the overall profitability. Today’s mine planning software tools provide block-sequencing optimisation for a given static price assumption that is then used as a basis of managerial decision-making process. This paper proposes a complementary approach to this by introducing a simulation-based decision-making tool that, with the help of simulation, seeks for the optimal mine plan when a managerially estimated price development with minimum and maximum boundaries is used as a data input for the given period. To demonstrate the approach, a realistic gold mine case study is presented with five alternative and technically feasible mine plans calculated in a static optimiser from a commercial mine planning software package. These mine planning scenarios are then subjected to price uncertainty in simulation with and without a price trend assumption to highlight the effect of price on the mine’s expected performance. Based on the results, we derive and demonstrate a simulation-based system that automates the matching of optimal mine plan with the managerial insight of long-term price development.

Improving Dynamic Decision Making through HCI Principles

2006 ◽  
pp. 311-316
Author(s):  
Hassan Qudrat-Ullah
Keyword(s):  
Decision Making ◽  
Learning Environments ◽  
Interactive Learning Environments ◽  
Decision Makers ◽  
Dynamic Decision Making ◽  
Future Research ◽  
Future Trends ◽  
Immediate Feedback ◽  
Managerial Decision ◽  
Simulation Based

CSBILEs allow the compression of time and space and provide an opportunity for practicing managerial decision making in a non-threatening way (Issacs & Senge, 1994). In a computer simulation-based interactive learning environments (CSBILEs), decision makers can test their assumptions, practice exerting control over a business situation, and learn from the immediate feedback of their decisions. CSBILE’s effectiveness is associated directly with decision-making effectiveness; that is, if one CSBILE improves decision-making effectiveness more than other CSBILEs, it is more effective than others. Despite an increasing interest in CSBILEs, empirical evidence to their effectiveness is inconclusive (Bakken, 1993; Diehl & Sterman, 1995; Moxnes, 1998). The aim of this article is to present a case for HCI design principles as a viable potential way to improve the design of CSBILEs and, hence, their effectiveness in improving decision makers’ performance in dynamic tasks. This article is organized as follows: some background concepts are presented first; next, we present an assessment of the prior research on (i) DDM and CSBILE and (ii) HCI and dynamic decision making (DDM); the section on future trends presents some suggestion for future research. This article concludes with some conclusions.

scholarly journals Trade-Control Compliance in SMEs: Do Decision-Makers and Supply Chain Position Make a Difference?

2021 ◽  
Author(s):  
Christian Hauser
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Behavioral Ethics ◽  
Managerial Decision ◽  
Organizational Responses ◽  
Control Laws ◽  
Compliance Programs ◽  
External Pressures ◽  
Compliance Program ◽  
Trade Control

AbstractIn recent years, trade-control laws and regulations such as embargoes and sanctions have gained importance. However, there is limited empirical research on the ways in which small- and medium-sized enterprises (SMEs) respond to such coercive economic measures. Building on the literature on organizational responses to external demands and behavioral ethics, this study addresses this issue to better understand how external pressures and managerial decision-making are associated with the scope of trade-control compliance programs. Based on a sample of 289 SMEs, the findings show that the organizational responses of SMEs reflect proportionate adjustments to regulatory pressures but only if decision-makers are well informed and aware of the prevailing rules and regulations. Conversely, uninformed decision-making leads to a disproportionate response resulting in an inadequately reduced scope of the compliance program. In addition, the results indicate that SMEs that are highly integrated into supply chains are susceptible to passing-the-buck behavior.

scholarly journals Prioritising CAP Intervention Needs: An Improved Cumulative Voting Approach

2021 ◽  
Vol 13 (7) ◽  
pp. 3997
Author(s):  
Roberto Cagliero ◽  
Francesco Bellini ◽  
Francesco Marcatto ◽  
Silvia Novelli ◽  
Alessandro Monteleone ◽  
...  
Keyword(s):  
Decision Making ◽  
Planning Process ◽  
Strategic Plan ◽  
Evidence Based ◽  
Agricultural Activities ◽  
Agriculture Policy ◽  
Implementation Model ◽  
National Strategic Plan ◽  
Cumulative Voting ◽  
Regional Authorities

The process to define the 2023–2027 Common Agriculture Policy (CAP) is underway. The implementation model governing the process requires each EU Member State to design a National Strategic Plan to deliver operational actions exploiting the synergies under the two pillars of the policy. Each Plan must be built from an evidence-based needs assessment that undergoes rigorous prioritisation and planning to create comprehensive, integrated, and achievable interventions. In Italy, the success of this planning process requires all interested stakeholders to generate options for the regional authorities who plan, manage, and legislate agricultural activities. This research proposes a decision-making technique, based on the cumulative voting approach, that can be used effectively when multiple persons from different backgrounds and perspectives are engaged in problem-solving and needs prioritisation. The results indicate that the model can be applied both theoretically and practically to prioritise Strategic Plan needs that involve national and regional authorities. Validation of the model allows it to be used in the next consultative processes and for expansion to socioeconomic stakeholders.

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