Visualizing knowledge for decision-making in Lean Production Development settings. Insights from the automotive industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Paolo Canonico ◽  
Ernesto De Nito ◽  
Vincenza Esposito ◽  
Gerarda Fattoruso ◽  
Mario Pezzillo Iacono ◽  
...  

PurposeThe paper focuses on how knowledge visualization supports the development of a particular multiobjective decision-making problem as a portfolio optimization problem in the context of interorganizational collaboration between universities and a large automotive company. This paper fits with the emergent knowledge visualization literature because it helps to explain decision-making related to the development of a multiobjective optimization model in Lean Product Development settings. We investigate how using ad hoc visual tools supports knowledge translation and knowledge sharing, enhancing managerial judgment and decision-making.Design/methodology/approachThe empirical case in this study concerns the setting up of a multiobjective decision-making model as a portfolio optimization problem to analyze and select alternatives for upgrading the lean production process quality at an FCA plant.FindingsThe study shows how knowledge visualization and the associated tools work to enable knowledge translation and knowledge sharing, supporting decision-making. The empirical findings show why and how knowledge visualization can be used to foster knowledge translation and sharing among individuals and from individuals to groups. Knowledge visualization is understood as both a collective and interactional process and a systematic approach where different players translate their expertise, share a framework and develop common ground to support decision-making.Originality/valueFrom a theoretical perspective, the paper expands the understanding of knowledge visualization as a system of practices that support the development of a multiobjective decision-making method. From an empirical point of view, our results may be useful to other firms in the automotive industry and for academics wishing to develop applied research on portfolio optimization.

2020 ◽  
Vol 158 ◽  
pp. 113527
Author(s):  
Gustavo H.M. Mendonça ◽  
Fernando G.D.C. Ferreira ◽  
Rodrigo T.N. Cardoso ◽  
Flávio V.C. Martins

2021 ◽  
Vol 26 (2) ◽  
pp. 36
Author(s):  
Alejandro Estrada-Padilla ◽  
Daniela Lopez-Garcia ◽  
Claudia Gómez-Santillán ◽  
Héctor Joaquín Fraire-Huacuja ◽  
Laura Cruz-Reyes ◽  
...  

A common issue in the Multi-Objective Portfolio Optimization Problem (MOPOP) is the presence of uncertainty that affects individual decisions, e.g., variations on resources or benefits of projects. Fuzzy numbers are successful in dealing with imprecise numerical quantities, and they found numerous applications in optimization. However, so far, they have not been used to tackle uncertainty in MOPOP. Hence, this work proposes to tackle MOPOP’s uncertainty with a new optimization model based on fuzzy trapezoidal parameters. Additionally, it proposes three novel steady-state algorithms as the model’s solution process. One approach integrates the Fuzzy Adaptive Multi-objective Evolutionary (FAME) methodology; the other two apply the Non-Dominated Genetic Algorithm (NSGA-II) methodology. One steady-state algorithm uses the Spatial Spread Deviation as a density estimator to improve the Pareto fronts’ distribution. This research work’s final contribution is developing a new defuzzification mapping that allows measuring algorithms’ performance using widely known metrics. The results show a significant difference in performance favoring the proposed steady-state algorithm based on the FAME methodology.


2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Stephanie S. W. Su ◽  
Sie Long Kek

In this paper, the current variant technique of the stochastic gradient descent (SGD) approach, namely, the adaptive moment estimation (Adam) approach, is improved by adding the standard error in the updating rule. The aim is to fasten the convergence rate of the Adam algorithm. This improvement is termed as Adam with standard error (AdamSE) algorithm. On the other hand, the mean-variance portfolio optimization model is formulated from the historical data of the rate of return of the S&P 500 stock, 10-year Treasury bond, and money market. The application of SGD, Adam, adaptive moment estimation with maximum (AdaMax), Nesterov-accelerated adaptive moment estimation (Nadam), AMSGrad, and AdamSE algorithms to solve the mean-variance portfolio optimization problem is further investigated. During the calculation procedure, the iterative solution converges to the optimal portfolio solution. It is noticed that the AdamSE algorithm has the smallest iteration number. The results show that the rate of convergence of the Adam algorithm is significantly enhanced by using the AdamSE algorithm. In conclusion, the efficiency of the improved Adam algorithm using the standard error has been expressed. Furthermore, the applicability of SGD, Adam, AdaMax, Nadam, AMSGrad, and AdamSE algorithms in solving the mean-variance portfolio optimization problem is validated.


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