scholarly journals A delayed differentiation multiproduct model with the outsourcing of common parts, overtime strategy for end products, and quality reassurance

2021 ◽  
pp. 143-158 ◽  
Author(s):  
Singa Wang Chiu ◽  
Victoria Chiu ◽  
Ming-Hon Hwang ◽  
Yuan-Shyi Peter Chiu
Keyword(s):  
Cost Effective ◽  
Sensitivity Analyses ◽  
Optimization Approach ◽  
Limited Capacity ◽  
Numerical Illustration ◽  
Delayed Differentiation ◽  
Modeling Analysis ◽  
End Products ◽  
Effective Decision ◽  
Effective Decision Making

Production planners today must simultaneously face with the time and quality demands of various goods externally and meet limited capacity internally. This study presents a two-stage delayed- differentiation multiproduct model that considers the outsourcing options for common parts, overtime strategy for end products, and quality reassurance to assist in making fabrication runtime decisions that are cost-effective. Stage one produces all necessary common intermediate components for end products. To reduce stage one’s utilization/uptime, this study adopts a partial outsourcing option. Stage two uses an overtime strategy to fabricate end products that further shorten the uptime. The production processes in both phases are assumed to be imperfect. This study employs the reworking/scrapping of random faulty items to reassure product quality. The researchers build a model to depict the proposed problem’s characteristics and used the mathematical modeling, analysis, and optimization approach to determine the best rotation cycle length that minimizes the system’s expenses. Further, in this study, the researchers provide sensitivity analyses and a numerical illustration, which validate the result’s applicability and exhibit its capability. This result contributes to practical multiproduct-fabrication by (1) deriving the optimal manufacturing policy for a delayed-differentiation multiproduct system with dual uptime reduction policies and quality reassurance; and (2) offering a decisional model that allows production planners to explore the collective/separate effect of a quality-ensured and dual uptime reduction strategy on a problem’s operating policy and crucial system performance indicators, which assists in cost-effective decision-making.

scholarly journals Visualisation of the combinatorial effects within evolutionary algorithms: the compass plot

2020 ◽  
Author(s):  
Qi Wang ◽  
Miaoting Guan ◽  
Wen Huang ◽  
Libing Wang ◽  
Zhihong Wang ◽  
...  
Keyword(s):  
Evolutionary Algorithms ◽  
Real World ◽  
Distribution System ◽  
Water Distribution ◽  
Cost Effective ◽  
Considerable Change ◽  
Nsga Ii ◽  
Effective Decision ◽  
Effective Decision Making ◽  
Real World Problems

Abstract Applications of evolutionary algorithms (EAs) to real-world problems are usually hindered due to parameterisation issues and computational efficiency. This paper shows how the combinatorial effects related to the parameterisation issues of EAs can be visualised and extracted by the so-called compass plot. This new plot is inspired by the traditional Chinese compass used for navigation and geomantic detection. We demonstrate the value of the proposed compass plot in two scenarios with application to the optimal design of the Hanoi water distribution system. One is to identify the dominant parameters in the well-known NSGA-II. The other is to seek the efficient combinations of search operators embedded in Borg, which uses an ensemble of search operators by auto-adapting their use at runtime to fit an optimisation problem. As such, the implicit and vital interdependency among parameters and search operators can be intuitively demonstrated and identified. In particular, the compass plot revealed some counter-intuitive relationships among the algorithm parameters that led to a considerable change in performance. The information extracted, in turn, facilitates a deeper understanding of EAs and better practices for real-world cases, which eventually leads to more cost-effective decision-making.

scholarly journals Economic Disposal Quantity of Leftovers kept in storage: a Monte Carlo simulation method

2019 ◽  
Vol 9 (1) ◽  
pp. 522-529
Author(s):  
R. Assis ◽  
P. Carmona Marques ◽  
J. Oliveira Santos ◽  
R. Vidal
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Cost Effective ◽  
Simulation Method ◽  
Minimum Length ◽  
Monte Carlo Simulation Method ◽  
Limit Time ◽  
Effective Decision ◽  
Effective Decision Making ◽  
Monte Carlo Simulation Model

AbstractThis article describes how to reach an item’s threshold, or in other words, the limit time for it to be retrieved from stock and sold for a different use, as well as the remaining foreseen period for this situation to occur. Once a minimum length, or weight, is reached, left quantities are more difficult to sell, as demand often exceeds the remaining parts or leftovers. The number of unfulfilled orders increases, as time goes by, until it becomes further cost effective to dispose the leftover and sell it for a lower price and alternative use. A Monte Carlo simulation model was built in order to consider the randomness of future transactions and quantifying consequences providing this way a simple and effective decision-making framework.

scholarly journals Construction diploma design on VIM-technology

2021 ◽  
pp. 37-40
Author(s):  
Anatoly Druzhinin ◽  
Oksana Davidenko
Keyword(s):  
Construction Industry ◽  
Architectural Design ◽  
State Level ◽  
Cost Effective ◽  
Design Engineering ◽  
Economic Transformations ◽  
Effective Decision ◽  
Effective Decision Making ◽  
Engineering Cost ◽  
And Training

The development of the construction industry of Ukraine as a basis for economic transformations through the introduction of information technology (IT), put forward appropriate requirements for specialists. There is a need at the state level to solve the problem of need and development in the labor market of competencies of specialists for the construction industry in the implementation of VIM technologies, creating a single information model in the construction of Ukraine, which would combine architectural, design, engineering, cost, ecological components with access to cost-effective decision-making for the life cycle of the object and, accordingly, the introduction of innovative technologies in the education and training of competent professionals.

scholarly journals Estimating the Recreation Use Values of National Parks

1996 ◽  
Vol 2 (4) ◽  
pp. 303-320 ◽  
Author(s):  
Jeff Bennett
Keyword(s):  
National Parks ◽  
Response Rate ◽  
Cost Effective ◽  
Management Policy ◽  
Travel Cost Method ◽  
Use Values ◽  
Effective Decision ◽  
Effective Decision Making ◽  
Recreation Use ◽  
Decision Making Tool

A comprehensive application of the travel cost method (TCM) to the estimation of the recreation use values of Dorrigo and Gibraltar Range National Parks is outlined. As well as providing value estimates that are useful for the development of park acquisition and management policy, the application also provides some important lessons for the future use of the TCM. So long as some key assumptions relating to the value of travel time and site congestion are shown to hold, then a stream-lined version of the TCM can be used. The questionnaire required to implement the abridged version is brief, thus encouraging a better response rate. Survey and analysis costs are therefore likely to be lower, making the TCM a more cost-effective decision making tool.

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