Author: Liao Wang
Publisher:
ISBN: 9781680835557
Category : Business logistics
Languages : en
Pages : 18
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Book Description
We examine the classical productional planning model, where a capacity decision that has to be made at the beginning of the planning horizon is the primary means to protect against demand uncertainty. We provide a critique on the model focusing on its profit maximizing objective, its underlying assumptions on demand and related forecasting scheme, and its overall business relevance (or the lack thereof); and we do so in the context of data, risk and analytics. Specifically, we will consider minimizing a shortfall risk relative to a profit target, with a demand model that captures impacts from the financial market and can be learned from data sets that are application specific. With a jointly optimized production and hedging strategy, we show the new model outperforms traditional approaches in risk mitigation as well as in expected profit.
Author: Ivan Damnjanovic
Publisher: Springer
ISBN: 3030142515
Category : Technology & Engineering
Languages : en
Pages : 379
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Book Description
This book provides a step-by-step guidance on how to implement analytical methods in project risk management. The text focuses on engineering design and construction projects and as such is suitable for graduate students in engineering, construction, or project management, as well as practitioners aiming to develop, improve, and/or simplify corporate project management processes. The book places emphasis on building data-driven models for additive-incremental risks, where data can be collected on project sites, assembled from queries of corporate databases, and/or generated using procedures for eliciting experts’ judgments. While the presented models are mathematically inspired, they are nothing beyond what an engineering graduate is expected to know: some algebra, a little calculus, a little statistics, and, especially, undergraduate-level understanding of the probability theory. The book is organized in three parts and fourteen chapters. In Part I the authors provide the general introduction to risk and uncertainty analysis applied to engineering construction projects. The basic formulations and the methods for risk assessment used during project planning phase are discussed in Part II, while in Part III the authors present the methods for monitoring and (re)assessment of risks during project execution.
Author: Eduardo Rodriguez
Publisher: CRC Press
ISBN: 1000893081
Category : Computers
Languages : en
Pages : 483
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Book Description
The 2022 World Economic Forum surveyed 1,000 experts and leaders who indicated their risk perception that the earth’s conditions for humans are a main concern in the next 10 years. This means environmental risks are a priority to study in a formal way. At the same time, innovation risks are present in theminds of leaders, newknowledge brings new risk, and the adaptation and adoption of risk knowledge is required to better understand the causes and effects can have on technological risks. These opportunities require not only adopting new ways of managing and controlling emerging processes for society and business, but also adapting organizations to changes and managing newrisks. Risk Analytics: Data-Driven Decisions Under Uncertainty introduces a way to analyze and design a risk analytics system (RAS) that integrates multiple approaches to risk analytics to deal with diverse types of data and problems. A risk analytics system is a hybrid system where human and artificial intelligence interact with a data gathering and selection process that uses multiple sources to the delivery of guidelines to make decisions that include humans and machines. The RAS system is an integration of components, such as data architecture with diverse data, and a risk analytics process and modeling process to obtain knowledge and then determine actions through the new knowledge that was obtained. The use of data analytics is not only connected to risk modeling and its implementation, but also to the development of the actionable knowledge that can be represented by text in documents to define and share explicit knowledge and guidelines in the organization for strategy implementation. This book moves from a review of data to the concepts of a RAS. It reviews RAS system components required to support the creation of competitive advantage in organizations through risk analytics. Written for executives, analytics professionals, risk management professionals, strategy professionals, and postgraduate students, this book shows a way to implement the analytics process to develop a risk management practice that creates an adaptive competitive advantage under uncertainty.
Author: Hoda A. ElMaraghy
Publisher: Springer Science & Business Media
ISBN: 1848820674
Category : Technology & Engineering
Languages : en
Pages : 414
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Book Description
“Changeable and Reconfigurable Manufacturing Systems” discusses key strategies for success in the changing manufacturing environment. Changes can often be anticipated but some go beyond the design range, requiring innovative change enablers and adaptation mechanisms. The book presents the new concept of Changeability as an umbrella framework that encompasses paradigms such as agility, adaptability, flexibility and reconfigurability. It provides the definitions and classification of key terms in this new field, and emphasizes the required physical/hard and logical/soft change enablers. The book presents cutting edge technologies and the latest research, as well as future directions to help manufacturers stay competitive. It contains original contributions and results from senior international experts, together with industrial applications. The book serves as a comprehensive reference for professional engineers, managers, and academics in manufacturing, industrial and mechanical engineering.
Author: Charles Nehme
Publisher: Charles Nehme
ISBN:
Category : Computers
Languages : en
Pages : 48
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Book Description
In the ever-evolving landscape of business, data analysis has emerged as a powerful tool for decision-making, innovation, and competitive advantage. This book delves into the intricacies of data analysis and its practical applications in the corporate realm. Embark on a journey through the world of data analysis, exploring its fundamental concepts, methodologies, and real-world applications. Unveiling the Power of Data Analysis In this comprehensive guide, we delve into the fundamental principles of data analysis, enabling you to harness the power of data to drive business success. We begin by defining data analysis and its multifaceted role in business operations. Next, we embark on a journey through the different types of data analysis, each serving a distinct purpose in uncovering valuable insights. Data Collection and Preparation: Laying the Foundation Effective data analysis hinges on the quality and integrity of the data being analyzed. This chapter delves into meticulous data collection practices, emphasizing the importance of identifying reliable sources, ensuring data quality, and transforming data into a usable format. Exploratory Data Analysis (EDA): Unveiling Hidden Patterns EDA serves as the cornerstone of data analysis, enabling us to explore and understand the underlying structure of data. This chapter introduces you to various EDA techniques, equipping you with the tools to identify trends, patterns, and relationships within data sets. Data Modeling: Unleashing the Predictive Power of Data Data modeling takes data analysis to the next level, enabling us to create predictive models that forecast future outcomes. This chapter explores a range of data modeling techniques, from descriptive statistics to machine learning algorithms, demonstrating how to harness the predictive power of data. Data Visualization: Communicating Insights Effectively Data visualization plays a crucial role in translating complex data into clear and compelling visualizations. This chapter introduces you to various data visualization charts and graphs, along with their applications in communicating insights effectively to stakeholders. Decision Making with Data: Empowering Informed Choices Data analysis is not merely about collecting and analyzing data; it's about transforming data into actionable insights that drive informed decision-making. This chapter explores the role of data in supporting decision-making processes, emphasizing the importance of integrating data analysis into the decision-making framework. Data Ethics and Privacy: Navigating the Ethical Landscape With the growing reliance on data, ethical considerations have become paramount. This chapter delves into the ethical principles governing data collection, storage, and use, ensuring responsible data analysis and compliance with data protection regulations. Data Governance and Management: Ensuring Data Quality and Compliance Data governance establishes a framework for managing data effectively, ensuring its quality, security, and compliance. This chapter explores data governance frameworks and principles, providing guidance on implementing data governance practices in businesses. Case Studies of Data Analysis in Business: Real-world Applications Data analysis has revolutionized various business functions, from marketing and sales to customer service and operations. This chapter showcases real-world case studies that demonstrate the impact of data analysis on businesses, illustrating how data can be used to create competitive advantages and drive innovation. The Future of Data Analysis: Embracing Emerging Trends The world of data analysis is constantly evolving, with emerging trends such as big data, artificial intelligence, and machine learning transforming the way businesses collect, analyze, and use data. This chapter explores these emerging trends, highlighting their potential to transform businesses and drive innovation in the future. Embrace the Data Revolution In conclusion, this comprehensive guide equips you with the knowledge and skills to harness the power of data analysis and empower your business to make informed decisions, drive innovation, and achieve sustainable growth. As the world becomes increasingly data-driven, data analysis has emerged as a critical skill for businesses of all sizes. Embrace the data revolution and unlock the transformative potential of data analysis for your organization.
Author: Karl G. Kempf
Publisher: Springer
ISBN: 9781441964861
Category : Business & Economics
Languages : en
Pages : 650
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Book Description
In two volumes, Planning Production and Inventories in the Extended Enterprise: A State of the Art Handbook examines production planning across the extended enterprise against a backdrop of important gaps between theory and practice. The early chapters describe the multifaceted nature of production planning problems and reveal many of the core complexities. The middle chapters describe recent research on theoretical techniques to manage these complexities. Accounts of production planning system currently in use in various industries are included in the later chapters. Throughout the two volumes there are suggestions on promising directions for future work focused on closing the gaps.
Author: A. Arun Kumar
Publisher: Cambridge Scholars Publishing
ISBN: 1036400247
Category : Reference
Languages : en
Pages : 263
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Book Description
This book is a transformative guide catering to undergraduate and graduate students and research scholars, providing a comprehensive understanding of critical concepts in modern analytics. In today’s fast-paced business landscape, data utilization is paramount for success. This book delves into tools and techniques facilitating the conversion of raw data into actionable insights, covering descriptive, predictive, and prescriptive analytics. Beginning with foundational principles, it ensures accessibility for readers of all backgrounds. Real-world case studies seamlessly woven throughout the text illustrate successful business analytics implementations, showcasing how organizations make strategic decisions. This precise and insightful guide equips readers with the knowledge to optimize processes, making it an indispensable resource for navigating the dynamic realm of business analytics.
Author: Galal Senussi
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659570278
Category :
Languages : en
Pages : 192
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Book Description
The book aim is establishing a new model for production program optimization which is follow the systematization of existing knowledge in field of production program planning and integration method such as activity base calculate, genetic algorithm, and risk management. It introduces a contemporary model design for production program planning in business-manufacturing systems. An integrated model of ABC method and GA technique for cost volume profit (CVP) problems is developed. It uses data provided by ABC systems designed to keep track of variable and fixed costs, and requires the model user to formulate a contribution rule that will allow to compute, for each product, the output required to achieve a given (target) profit. The purpose of the integrated model construction is to invest C-V-P analysis with realism, and to remove a basic deficiency from the traditional C-V-P model. In this book also, an integrated model of risk management and GA introduces to evaluate the observed results of production program and reduces the risk of operating losses
Author: Erlend Alfnes
Publisher: Springer Nature
ISBN: 3031436660
Category : Computers
Languages : en
Pages : 696
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Book Description
This 4-volume set, IFIP AICT 689-692, constitutes the refereed proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2023, held in Trondheim, Norway, during September 17–21, 2023. The 213 full papers presented in these volumes were carefully reviewed and selected from a total of 224 submissions. They were organized in topical sections as follows: Part I : Lean Management in the Industry 4.0 Era; Crossroads and Paradoxes in the Digital Lean Manufacturing World; Digital Transformation Approaches in Production Management; Managing Digitalization of Production Systems; Workforce Evolutionary Pathways in Smart Manufacturing Systems; Next Generation Human-Centered Manufacturing and Logistics Systems for the Operator 5.0; and SME 5.0: Exploring Pathways to the Next Level of Intelligent, Sustainable, and Human-Centered SMEs. Part II : Digitally Enabled and Sustainable Service and Operations Management in PSS Lifecycle; Exploring Digital Servitization in Manufacturing; Everything-as-a-Service (XaaS) Business Models in the Manufacturing Industry; Digital Twin Concepts in Production and Services; Experiential Learning in Engineering Education; Lean in Healthcare; Additive Manufacturing in Operations and Supply Chain Management; and Applications of Artificial Intelligence in Manufacturing. Part III : Towards Next-Generation Production and SCM in Yard and Construction Industries; Transforming Engineer-to-Order Projects, Supply Chains and Ecosystems; Modelling Supply Chain and Production Systems; Advances in Dynamic Scheduling Technologies for Smart Manufacturing; and Smart Production Planning and Control. Part IV : Circular Manufacturing and Industrial Eco-Efficiency; Smart Manufacturing to Support Circular Economy; Product Information Management and Extended Producer Responsibility; Product and Asset Life Cycle Management for Sustainable and Resilient Manufacturing Systems; Sustainable Mass Customization in the Era of Industry 5.0; Food and Bio-Manufacturing; Battery Production Development and Management; Operations and SCM in Energy-Intensive Production for a Sustainable Future; and Resilience Management in Supply Chains.
Author: Karl G Kempf
Publisher: Springer
ISBN: 9781441981905
Category : Business & Economics
Languages : en
Pages : 588
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Book Description
In two volumes, Planning Production and Inventories in the Extended Enterprise: A State of the Art Handbook examines production planning across the extended enterprise against a backdrop of important gaps between theory and practice. The early chapters describe the multifaceted nature of production planning problems and reveal many of the core complexities. The middle chapters describe recent research on theoretical techniques to manage these complexities. Accounts of production planning system currently in use in various industries are included in the later chapters. Throughout the two volumes there are suggestions on promising directions for future work focused on closing the gaps. Included in Volume 1 are papers on the Historical Foundations of Manufacturing Planning and Control; Advanced Planning and Scheduling Systems; Sustainable Product Development and Manufacturing; Uncertainty and Production Planning; Demand Forecasting; Production Capacity; Data in Production and Supply Chain Planning; Financial Uncertainty in SC Models; Field Based Research in Production Control; Collaborative SCM; Sequencing and Coordination in Outsourcing and Subcontracting Operations; Inventory Management; Pricing, Variety and Inventory Decisions for Substitutable Items; Perishable and Aging Inventories; Optimization Models of Production Planning Problems; Aggregate Modeling of Manufacturing Systems; Robust Stability Analysis of Decentralized Supply Chains; Simulation in Production Planning; and Simulation-Optimization in Support of Tactical and Strategic Enterprise Decisions. Included in Volume 2 are papers on Workload and Lead-Time Considerations under Uncertainty; Production Planning and Scheduling; Production Planning Effects on Dynamic Behavior of A Simple Supply Chain; Supply and Demand in Assemble-to-Order Supply Chains; Quantitative Risk Assessment in Supply Chains; A Practical Multi-Echelon Inventory Model with Semiconductor Application; Supplier Managed Inventory for Custom Items with Long Lead Times; Decentralized Supply Chain Formation; A Cooperative Game Approach to Procurement Network Formation; Flexible SC Contracts with Options; Build-to-Order Meets Global Sourcing for the Auto Industry; Practical Modeling in Automotive Production; Discrete Event Simulation Models; Diagnosing and Tuning a Statistical Forecasting System; Enterprise-Wide SC Planning in Semiconductor and Package Operations; Production Planning in Plastics; SC Execution Using Predictive Control; Production Scheduling in The Pharmaceutical Industry; Computerized Scheduling for Continuous Casting in Steelmaking; and Multi-Model Production Planning and Scheduling in an Industrial Environment.
