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Author: Anran Li
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This thesis handles fundamental problems faced by retailers everyday: how do consumers make choices from an enormous variety of products? How to design a product portfolio to maximize the expected profit given consumers’ choice behavior? How to frame products if consumers’ choices are influenced by the display location? We solve those problems by first, constructing mathematical models to describe consumers’ choice behavior from a given offer set, i.e., consumer choice models; second, by designing efficient algorithms to optimally select the product portfolio to maximize the expected profit, i.e., assortment optimization. This thesis consists of three main parts: the first part solves assortment optimization problem under a consideration set based choice model proposed by Manzini and Mariotti (2014) [Manzini, Paola, Marco Mariotti. 2014. Stochastic choice and consideration sets. Econometrica 82(3) 1153-1176.]; the second part proposes an approximation algorithm to jointly optimize products’ selection and display; the third part works on optimally designing a product line under the Logit family choice models when a product’s utility depends on attribute-level configurations.
Author: Anran Li
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This thesis handles fundamental problems faced by retailers everyday: how do consumers make choices from an enormous variety of products? How to design a product portfolio to maximize the expected profit given consumers’ choice behavior? How to frame products if consumers’ choices are influenced by the display location? We solve those problems by first, constructing mathematical models to describe consumers’ choice behavior from a given offer set, i.e., consumer choice models; second, by designing efficient algorithms to optimally select the product portfolio to maximize the expected profit, i.e., assortment optimization. This thesis consists of three main parts: the first part solves assortment optimization problem under a consideration set based choice model proposed by Manzini and Mariotti (2014) [Manzini, Paola, Marco Mariotti. 2014. Stochastic choice and consideration sets. Econometrica 82(3) 1153-1176.]; the second part proposes an approximation algorithm to jointly optimize products’ selection and display; the third part works on optimally designing a product line under the Logit family choice models when a product’s utility depends on attribute-level configurations.
Author: Candace Arai Yano
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Much of the literature on product line design or product line selection focuses on revenues or market share maximization, but in many cases, the true objective is to maximize profit. In this paper, we survey the literature on models that address decisions regarding the conceptual design of products to be offered, or the selection of products among a large set of potential products, and in some cases, the prices of the offered products. We focus on the combined effects of multiple product offerings on both revenue and manufacturing costs and emphasize models that would accommodate variable manufacturing costs, the cost of manufacturing facilities, and/or engineering design costs of some form. The paper concludes with promising directions for future research.
Author: Timothy W. Simpson
Publisher: Springer Science & Business Media
ISBN: 1461479371
Category : Technology & Engineering
Languages : en
Pages : 816
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Book Description
Advances in Product Family and Product Platform Design: Methods & Applications highlights recent advances that have been made to support product family and product platform design along with successful applications in industry. This book provides not only motivation for product family and product platform design (i.e., address questions about “why and when should we platform”) but also methods and tools to support the design and development of families of products based on shared platforms (i.e. address the “how” and “what” questions about platforming). It begins with a general overview of product family design to introduce the general reader to the topic and then progress to more advanced topics and design theory to help designers, engineers, and project managers plan, architect, and implement platform-based product development strategies for their company. Finally, successful industry applications provide readers and practitioners with case studies and “talking points” to become platform advocates and leaders within their organization.
Author: Winfried J. Steiner
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Designing and pricing new products is one of the most critical activities for a firm, and it is well-known that taking into account consumer preferences for design decisions is essential for products later to be successful in a competitive environment (e.g., Urban and Hauser 1993). Consequently, measuring consumer preferences among multiattribute alternatives has been a primary concern in marketing research as well, and among many methodologies developed, conjoint analysis (Green and Rao 1971) has turned out to be one of the most widely used preference-based techniques for identifying and evaluating new product concepts. Moreover, a number of conjoint-based models with special focus on mathematical programming techniques for optimal product (line) design have been proposed (e.g., Zufryden 1977, 1982, Green and Krieger 1985, 1987b, 1992, Kohli and Krishnamurti 1987, Kohli and Sukumar 1990, Dobson and Kalish 1988, 1993, Balakrishnan and Jacob 1996, Chen and Hausman 2000). These models are directed at determining optimal product concepts using consumers' idiosyncratic or segment level part-worth preference functions estimated previously within a conjoint framework. Recently, Balakrishnan and Jacob (1996) have proposed the use of Genetic Algorithms (GA) to solve the problem of identifying a share maximizing single product design using conjoint data. In this paper, we follow Balakrishnan and Jacob's idea and employ and evaluate the GA approach with regard to the problem of optimal product line design. Similar to the approaches of Kohli and Sukumar (1990) and Nair et al. (1995), product lines are constructed directly from part-worths data obtained by conjoint analysis, which can be characterized as a one-step approach to product line design. In contrast, a two-step approach would start by first reducing the total set of feasible product profiles to a smaller set of promising items (reference set of candidate items) from which the products that constitute a product line are selected in a second step. Two-step approaches or partial models for either the first or second stage in this context have been proposed by Green and Krieger (1985, 1987a, 1987b, 1989), McBride and Zufryden (1988), Dobson and Kalish (1988, 1993) and, more recently, by Chen and Hausman (2000). Heretofore, with the only exception of Chen and Hausman's (2000) probabilistic model, all contributors to the literature on conjoint-based product line design have employed a deterministic, first-choice model of idiosyncratic preferences. Accordingly, a consumer is assumed to choose from her/his choice set the product with maximum perceived utility with certainty. However, the first choice rule seems to be an assumption too rigid for many product categories and individual choice situations, as the analyst often won't be in a position to control for all relevant variables influencing consumer behavior (e.g., situational factors). Therefore, in agreement with Chen and Hausman (2000), we incorporate a probabilistic choice rule to provide a more flexible representation of the consumer decision making process and start from segment-specific conjoint models of the conditional multinomial logit type. Favoring the multinomial logit model doesn't imply rejection of the widespread max-utility rule, as the MNL includes the option of mimicking this first choice rule. We further consider profit as a firm's economic criterion to evaluate decisions and introduce fixed and variable costs for each product profile. However, the proposed methodology is flexible enough to accomodate for other goals like market share (as well as for any other probabilistic choice rule). This model flexibility is provided by the implemented Genetic Algorithm as the underlying solver for the resulting nonlinear integer programming problem. Genetic Algorithms merely use objective function information (in the present context on expected profits of feasible product line solutions) and are easily adjustable to different objectives without the need for major algorithmic modifications. To assess the performance of the GA methodology for the product line design problem, we employ sensitivity analysis and Monte Carlo simulation. Sensitivity analysis is carried out to study the performance of the Genetic Algorithm w.r.t. varying GA parameter values (population size, crossover probability, mutation rate) and to finetune these values in order to provide near optimal solutions. Based on more than 1500 sensitivity runs applied to different problem sizes ranging from 12.650 to 10.586.800 feasible product line candidate solutions, we can recommend: (a) as expected, that a larger problem size be accompanied by a larger population size, with a minimum popsize of 130 for small problems and a minimum popsize of 250 for large problems, (b) a crossover probability of at least 0.9 and (c) an unexpectedly high mutation rate of 0.05 for small/medium-sized problems and a mutation rate in the order of 0.01 for large problem sizes. Following the results of the sensitivity analysis, we evaluated the GA performance for a large set of systematically varying market scenarios and associated problem sizes. We generated problems using a 4-factorial experimental design which varied by the number of attributes, number of levels in each attribute, number of items to be introduced by a new seller and number of competing firms except the new seller. The results of the Monte Carlo study with a total of 276 data sets that were analyzed show that the GA works efficiently in both providing near optimal product line solutions and CPU time. Particularly, (a) the worst-case performance ratio of the GA observed in a single run was 96.66%, indicating that the profit of the best product line solution found by the GA was never less than 96.66% of the profit of the optimal product line, (b) the hit ratio of identifying the optimal solution was 84.78% (234 out of 276 cases) and (c) it tooks at most 30 seconds for the GA to converge. Considering the option of Genetic Algorithms for repeated runs with (slightly) changed parameter settings and/or different initial populations (as opposed to many other heuristics) further improves the chances of finding the optimal solution.
Author: Nikitas-Spiros Koutsoukis
Publisher: Springer Science & Business Media
ISBN: 1461505054
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
In Decision Modelling And Information Systems: The Information Value Chain the authors explain the interrelationships between the decision support, decision modelling, and information systems. The first two parts of the book focus on the interdisciplinary decision support framework, in which mathematical programming (optimization) is taken as the inference engine. The role of business analytics and its relationship with recent developments in organisational theory, decision modelling, information systems and information technology are considered in depth. Part three of the book includes a carefully chosen selection of invited contributions from internationally-known researchers. These contributions are thought-provoking and cover key decision modelling and information systems issues. The final part of the book covers contemporary developments in the related area of business intelligence considered within an organizational context. The topics cover computing delivered across the web, management decision-making, and socio-economic challenges that lie ahead. It is now well accepted that globalisation and the impact of digital economy are profound; and the role of e-business and the delivery of decision models (business analytics) across the net lead to a challenging business environment. In this dynamic setting, decision support is one of the few interdisciplinary frameworks that can be rapidly adopted and deployed to so that businesses can survive and prosper by meeting these new challenges.
Author:
Publisher:
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Category : Commercial vehicles
Languages : en
Pages : 1116
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Author: Thomas A. Crumm
Publisher: Algora Publishing
ISBN: 0875867782
Category : Business & Economics
Languages : en
Pages : 251
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Book Description
Tom Crumm thinks the American auto industry can regain the world leadership it once enjoyed in design, manufacturing and sales of world-class quality vehicles — and profitability. There are nearly a million American jobs at stake and when the ideas in this book spread to component and other industries it becomes fuel for discussion of a turnaround of America's industrial sector and a turnaround of the economy. General Motor's CEO Roger Smith was a visionary and fully realized that change was needed at GM. Tom Crumm played a vital role in the rethinking that was to help the company steer a new course; as a strategic planner he was deeply involved in the creation of the Saturn project in 1985. Many lessons may be learned from Saturn's rise and fall that could be used to further the understanding of how the American manufacturing sector can be restored to its world class position. These include: - corporate culture and leadership, or the lack of it - the integration of technology and workers - employee empowerment and labor relations - supplier relations and vertical integration - and sales philosophy and customer satisfaction The biggest threat to a worker's job is an unprofitable company. Accordingly, the adversarial relationship with the company was not in the best long term interest of union members. The union had to change as well as the company. This point and the whole discussion will be of compelling interest to all who want to know what happened to America's auto making capability. Others have recently tried to explain what went wrong in the auto industry. 'Crash Course' by Paul Ingrassia, for instance, shows that the author had extraordinary access to behind-the-scenes meetings and conversations -- but he has little to say about engineering, manufacturing, or product development. This book addresses just those practical areas where productive change can be made.
Author: Jan Emblemsvåg
Publisher: Springer Science & Business Media
ISBN: 1441986049
Category : Technology & Engineering
Languages : en
Pages : 334
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Book Description
It is clear that our environment is changing, and not for the better. Companies cannot ignore environmental issues anymore. Public awareness is growing, legislation is tightening, and demand for ISO 14000 compliance is rising. For many, however, the field of environmental management (including ISO 14000) is full of unfamiliar terms, high learning curves, unproductive approaches, much frustration, and often little action. If environmental management is to become widely accepted and self-motivated in industry, it must connect to the basic motivators for business: increased competitiveness and profitability. Activity-Based Cost And Environmental Management: A Different Approach to the ISO 14000 Compliance demonstrates how environmental assessment and management can be performed based upon familiar principles: cost accounting and cost management. Specifically, this book describes how the well-established Activity-Based Costing and Management principles can be extended with non-monetary environmental dimensions. The result is a single, integrated framework called Activity-Based Cost and Environmental Management that provides the tools and abilities to do both environmental management and cost management in an integrated manner and according to modern management principles. This integration of economic and environmental dimensions based upon familiar cost accounting and management principles makes it easier for decision-makers to not only include the environment in their decision-making, but also to identify, rank and prioritize opportunities for win-win situations where competitiveness is increased and environmental impact reduced at the same time. In this book, the basic concepts of Activity-Based Cost and Environmental Management are described, as well as how to make your own integrated Activity-Based Cost and Environmental Management implementations and how to get the most out of them using uncertainty distributions, Monte Carlo simulations, and sensitivity charts. Among others, the book includes chapters on environmental management and Activity-Based Costing, as well as several real-life case studies from companies for which the authors implemented Activity-Based Cost and Environmental Management systems.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
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Book Description
For more than 20 years, Network World has been the premier provider of information, intelligence and insight for network and IT executives responsible for the digital nervous systems of large organizations. Readers are responsible for designing, implementing and managing the voice, data and video systems their companies use to support everything from business critical applications to employee collaboration and electronic commerce.
Author: Tom Falconer
Publisher: Crestline
ISBN: 0760314748
Category : Corvette automobile
Languages : en
Pages : 173
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Book Description
The author of "Corvette Sting-Ray" now offers a model-by-model history of thehottest American sports car.
