scholarly journals Behavioral Operations Management: A Review of the Field

2019 ◽  
Vol 1 (3) ◽  
Author(s):  
Rosa Hendijani
Keyword(s):  
Decision Making ◽  
Individual Differences ◽  
Product Development ◽  
Inventory Management ◽  
New Product Development ◽  
Operations Management ◽  
New Product ◽  
Heuristics And Biases ◽  
Behavioral Operations ◽  
Behavioral Operations Management

Behavioral operations management (BOM) is one of the new areas in operations management. In the past 12 years, the field has made huge progress and researchers have become interested in this new perspective to solving operational problems. BOM is now one of the major subfields of operations management. In this paper, we examine and categorize areas of BOM based on the mainstream literature. Key areas include behavioral issues in new product development and project management, quality management, production management, inventory management, service operations, and forecasting. Studies in each area are divided into three subcategories, including OM context, individual attributes, heuristics, and biases, and individual differences. In OM context category, feedback and reward, training, work monitoring, teamwork and group decision making, goal setting, task assignment, and flexibility are among the main topics. In individual attributes, heuristics, and biases category, sunk cost effect and escalation of commitment, endowment effect, overprecision bias, planning fallacy, pull-to-center effect, anchoring and insufficient adjustment, and misperceptions of feedback are mainly discussed. In individual differences, analytic thinking and system thinking are mainly studied. New areas for research are suggested in each related section and are summarized in future directions and conclusion sections. In contexts such as new product development, project management, and inventory management, a shift to finding solution to performance improvement is beneficial instead of focusing on heuristics and biases and considering them as a deficiency in human decision making. Regarding individual differences category, a shift toward attributes other than cognitive abilities, such as global processing, creative thinking, and design thinking are recommended.

A new fuzzy decision-making approach for selecting new product development project

2016 ◽  
Vol 24 (3) ◽  
pp. 240-250 ◽  
Author(s):  
Chiu-Chi Wei ◽  
Agus Andria ◽  
Houn-Wen Xiao ◽  
Chiou-Shuei Wei ◽  
Ting-Chang Lai
Keyword(s):  
Decision Making ◽  
Product Development ◽  
New Product Development ◽  
New Product ◽  
Development Project ◽  
Fuzzy Decision Making ◽  
Fuzzy Decision ◽  
Product Development Project

scholarly journals Product Portfolio Management: An Important Business Strategy

2015 ◽  
Vol 7 (1) ◽  
pp. 29-36 ◽  
Author(s):  
Mishelle Doorasamy
Keyword(s):  
Decision Making ◽  
Product Development ◽  
New Product Development ◽  
Portfolio Management ◽  
Business Strategy ◽  
New Product ◽  
Product Portfolio ◽  
Historical Developments ◽  
Statistical Trends ◽  
The Relationship

Abstract The aim of this article is to provide reader with a comprehensive insight on the theories, empirical findings and models of Product Portfolio Management (PPM) during new product development. This article will allow for an in-depth theoretical approach on PPM and demonstrate to managers the importance of adopting PPM as business strategy during decision making. The objective of this paper is to present a literature review of models, theories, approaches and findings on the relationship between Product Portfolio Management and new product development. Relevant statistical trends, historical developments, published opinion of major writers in this field will be presented to provide concrete evidence of the problem being discussed.

Application of Statistical Analysis Tools and Concepts to Big Data and Predictive Analytics to New Product Development

2020 ◽  
Vol 3 (1) ◽  
pp. 17-35
Author(s):  
Brian J. Galli
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Data Analysis ◽  
Product Development ◽  
Competitive Advantage ◽  
New Product Development ◽  
New Product ◽  
Big Data Analysis ◽  
Life Cycles ◽  
The Impact

In today's fiercely competitive environment, most companies face the pressure of shorter product life cycles. Therefore, if companies want to maintain a competitive advantage in the market, they need to keep innovating and developing new products. If not, then they will face difficulties in developing and expanding markets and may go out of business. New product development is the key content of enterprise research and development, and it is also one of the strategic cores for enterprise survival and development. The success of new product development plays a decisive role both in the development of the company and in maintaining a competitive advantage in the industry. Since the beginning of the 21st century, with the continuous innovation and development of Internet technology, the era of big data has arrived. In the era of big data, enterprises' decision-making for new product development no longer solely relies on the experience of decision-makers; it is based on the results of big data analysis for more accurate and effective decisions. In this thesis, the case analysis is mainly carried out with Company A as an example. Also, it mainly introduces the decision made by Company A in the actual operation of new product development, which is based on the results of big data analysis from decision-making to decision-making innovation. The choice of decision-making is described in detail. Through the introduction of the case, the impact of big data on the decision-making process for new product development was explored. In the era of big data, it provides a new theoretical approach to new product development decision-making.

Decision making in creating the world's first smartphone

2011 ◽  
Vol 1 (4) ◽  
pp. 1-10
Author(s):  
Virginia Cha
Keyword(s):  
Decision Making ◽  
Product Development ◽  
Technology Management ◽  
New Product Development ◽  
Manufacturing Industry ◽  
New Product ◽  
Future Market ◽  
Market Uncertainty ◽  
Content Type ◽  
New Generation

TitleDecision making in creating the world's first smartphoneSubject areaEntrepreneurship, Technology management and new product development.Study level/applicabilityThis class is useable for an EMBA or MBA audience, especially for modules relating to entrepreneurship, technology management and new product development.Case overviewMr Khaw Kheng Joo was a pioneer in Singapore's high‐technology manufacturing industry. In the mid‐1990s, Khaw was given the difficult task of establishing a presence for Hewlett‐Packard (HP) in the handheld Personal Digital Assistant (PDA) market. However, he believed that the PDA was not the game‐changing technology for consumers.Using his knowledge of the Bell Curve and years of entrepreneurial experience, Khaw sought to combine PDA functionalities with the Global System for Mobile Communication (GSM) technology, effectively creating a new generation of mobile device fondly known today as the “smartphone”.The journey towards the finished product was met with several obstacles and barriers. Many colleagues were uncertain of the future market and had difficulty agreeing on which features to focus on. However, through his determination, expertise and decision making in uncertainty, Khaw guided his team to eventually launch the impressive HP Jornada 928, the world's first smartphone, and heralded a new generation of mobile devices.Expected learning outcomesThis case is designed to be useable in teaching three key knowledge disciplines:Decision‐making biases and heuristics in entrepreneurs and innovators. Technology diffusion of new technology. Managing market uncertainty.Supplementary materialsTeaching notes.

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