This exploratory paper will investigate the concept of supply chain risk management involving supplier monitoring within a cooperative supply chain. Inventory levels and stockouts are the key metrics. Key to this concept is the assumptions that (1) out-of-control supplier situations are causal triggers for downstream supply chain disruptions, (2) these triggers can potentially be predicted using statistical process monitoring tools, and (3) carrying excess inventory only when needed is preferable as opposed to carrying excess inventory on a continual basis. Simulation experimentation will be used to explore several supplier monitoring strategies based on statistical runs tests, specifically "runs up and down" and/or "runs above and below" tests. The sensitivity of these tests in detecting non-random supplier behavior will be explored and their performance will be investigated relative to stock-outs and inventory levels. Finally, the effects of production capacity and yield rate will be examined. Results indicate out-of-control supplier signals can be detected beforehand and stock-outs can be significantly reduced by dynamically adjusting inventory levels. The largest benefit occurs when both runs tests are used together and when the supplier has sufficient production capacity to respond to downstream demand (i.e., safety stock) increases. When supplier capacity is limited, the highest benefit is achieved when yield rates are high and, thus, yield loss does not increase supplier production requirements beyond its available capacity.
Differential Search (DS) algorithm is a new meta-heuristic for solving real-valued numerical optimization. This paper introduces a new method based on DS for solving Resource Constrained Project Scheduling Problem (RCPSP). The RCPSP is aimed to schedule a set of activities at minimal duration subject to precedence constraints and the limited availability of resources. The proposed method is applied to PSPLIB case studies and its performance is evaluated in comparison with some of state of art methods. Experimental results show that the proposed method is effective. Also, it is among the best algorithms for solving RCPSP.
In this research, three variance ratio tests: the standard variance ratio test, the wild bootstrap multiple variance ratio test, and the non-parametric rank scores test are adopted to test the random walk hypothesis (RWH) of stock markets in Middle East and North Africa (MENA) region using most recent data from January 2010 to September 2012. The empirical results obtained by all three econometric tests show that the RWH is strongly rejected for Kuwait, Tunisia, and Morocco. However, the standard variance ratio test and the wild bootstrap multiple variance ratio test reject the null hypothesis of random walk in Jordan and KSA, while non-parametric rank scores test do not. We may conclude that Jordan and KSA stock market are weak efficient. In sum, the empirical results suggest that return series in Kuwait, Tunisia, and Morocco are predictable. In other words, predictable patterns that can be exploited in these markets still exit. Therefore, investors may make profits in such less efficient markets.
Data Envelopment Analysis (DEA) is one of the most popular methods used for measuring the relative efficiency of similar units by considering various input/output parameters. This paper implements DEA models to estimate the relative efficiency of selected banks in the United States. The proposed study uses two inputs, total assets and number of employees, and one output, net revenue for measuring the relative efficiency of selected banks. The relative efficiencies of different banks are analyzed. The preliminary results indicate that Santander Bank is the most efficient banks operating in the United States followed by SunTrust Bank and HSBC. Other banks preserve lower efficiency compared with these three banks.
The aversion dynamics research agenda has incorporated within dispatching heuristics a number of real-world observations involving risk mitigation practices used by real schedulers. One such observation is that schedulers occasionally offload risky jobs from a primary machine to otherwise less desirable machine (older, slower) during periods of peak load to avoid the effects the risky job can have on subsequent jobs. This paper examines this situation within the proportional parallel machine environment. Safety time is used to adjust dispatching priorities of risky jobs to reflect the aversion. The effect of various safety time values on performance is studied. Robust safety time values and/or intervals are identified across a variety of experimental factors related to risk level, percent risky jobs in the job stream, and due date distribution.
One of the primary tools for asset evaluation on stock market is to use price-to-earnings (P/E) ratio. The method is simple and has become popular among many investors for buy/sell decisions. In this paper, we present a comprehensive review on recent advances on the use of P/E ratio for measuring other firms’ characteristics. The survey has reviewed several studies on the relationship between P/E ratio and stock performance, estimation of transaction data, insider transaction, future growth, firm size, interest ratio, book-to-market equity, etc.
Reliability and quality assurance have become major considerations in the design and manufacture of today’s parts and products. Survivability of green compact using powder metallurgy technology is considered as one of the major quality attributes in manufacturing systems today. During powder metallurgy (PM) production, the compaction conditions and behavior of the metal powder dictate the stress and density distribution in the green compact prior to sintering. These parameters greatly influence the mechanical properties and overall strength of the final component. In order to improve these properties, higher compaction pressures are usually employed, which make unloading and ejection of green compacts more challenging, especially for the powder-compacted parts with relatively complicated shapes. This study looked at a mathematical survivability model concerning green compact characteristics in PM technology and the stress-strength failure model in reliability engineering. This model depicts the relationship between mechanical loads (stress) during ejection, experimentally determined green strength and survivability of green compact. The resulting survivability is the probability that a green compact survives during and after ejection. This survivability model can be used as an efficient tool for selecting the appropriate parameters for the process planning stage in PM technology. A case study is presented here in order to demonstrate the application of the proposed survivability model.
This paper investigates the dynamics of the NASDAQ topology before, during, and after 2008 financial crisis. First, multiresolution analysis by virtue of wavelet transform is employed to denoise each NASDAQ sector return series. Second, the correlation matrix of sectors is built and analyzed in each time period to view comovements of sectors. Third, hierarchical clustering trees are constructed in each time period to find out how the structure of the NASDAQ market evolves through time. Our results suggest that interrelationships between sectors become stronger in times of crisis and especially in post-crisis period. In addition, some markets tend to form the same cluster in all time periods; for instance the Industrial and Bank sectors and the Telecommunication and Computer sectors. However, the general topology of the NASDAQ market has been considerably changed over periods. In sum, the complex structure of the NASDAQ market is dynamic and is more integrated after 2008 financial crisis. This result indicates that there are less diversification opportunities in the post-crisis period in comparison with pre-crisis period. These empirical findings are important for the development of subsequent portfolio strategies.
In order to prepare students for the workforce, academic programs incorporate a variety of tools that students are likely to use in their future careers. One of these tools employed by business and technology programs is the integration of live software applications such as SAP through the SAP University Alliance (SAP UA) program. Since the SAP UA program has been around for only about 10 years and the available literature on the topic is limited, research is needed to determine the strengths and weaknesses of the SAP UA program. A collaborative study of SAP UA faculty perceptions of their SAP UAs was conducted in the fall of 2011. Of the faculty invited to participate in the study, 31% completed the online survey. The results indicate that most faculty experienced difficulty implementing SAP into their programs and report that a need exists for more standardized curriculum and training, while a large percentage indicated that they are receiving the support they need from their schools and SAP.
In this study, the backpropagation neural network (BPNN) is tested for the ability to forecast the daily volatility of two stock market indices from the Middle East and North Africa (MENA) region using volume; namely Morocco and Saudi Arabia. Volatility series were estimated using the Exponential Auto-Regressive Conditional Heteroskedasticity (EGARCH) model. The simulation results show that trading volume helps improving the forecasting accuracy of BPNN in Morocco but not in Saudi Arabia. As a result, volume represents valuable information flow to be used in the modeling and prediction of volatility in Morocco. In addition, it is found that BPNN overpredicts volatility during high volatile periods. This finding is important in financial applications such as asset allocation and derivatives pricing.