• Journal of Distribution Science
• /
• v.13 no.3
• /
• pp.31-39
• /
• 2015

Purpose - Due to its potential to improve supply chain operations, supply chain collaboration has attracted significant attention from both academics and practitioners. This study focuses on VMI, in collaboration with consignment, and examines its impact on supply chain performance. Research design, data, and methodology - This study employs the analysis of mathematical models, formulated based on the proposed supply chain framework. Using numerical examples, it evaluates the performance of three supply chain systems: one including VMI and consignment, a consignment-only system, and a traditional system. Results - The combination of VMI and consignment produces greater supply chain benefits than the consignment-only and traditional systems. Whereas only the performance of the buyer improves with the consignment-only system, the system with VMI and consignment is beneficial to both the buyer and supplier. Conclusions - The results of this study reveal that the inclusion of the additional collaborative function of VMI makes consignment a better supply chain collaboration program. Future studies should examine issues regarding the testing of diverse collaboration programs and the building of a firm theoretical background.

• Management Science and Financial Engineering
• /
• v.12 no.2
• /
• pp.19-35
• /
• 2006

We use the hierarchical Bayesian approach to describe the transition probabilities of a binary nonhomogeneous Markov chain. The Markov chain is used for describing the transition behavior of emotionally disturbed children in a treatment program. The effects of covariates on transition probabilities are assessed using a logit link function. To describe the time evolution of transition probabilities, we consider two modeling strategies. The first strategy is based on the concept of exchangeabiligy, whereas the second one is based on a first order Markov property. The deviance information criterion (DIC) measure is used to compare models with two different time dependent structures. The inferences are made using the Markov chain Monte Carlo technique. The developed methodology is applied to some real data.

• Korean Management Science Review
• /
• v.32 no.3
• /
• pp.29-36
• /
• 2015

In this research, we analyze the sensitivity of the network density to the estimates for the Bass model parameters with both theoretical model and a simulation. Bass model describes the process that the non-adopters in the market potential adopt a new product or an innovation by the innovation effect and imitation effect. The imitation effect shows the word of mouth effect from the previous adopters to non-adopters. But it does not divide the underlying network structure from the strength of the influence over the network. With a network based Bass model, we found that the estimate for the imitation coefficient is highly sensitive to the network density and it is decreasing while the network density is decreasing. This finding implies that the interpersonal influence can be under-looked when the network density is low. It also implies that both of the network density and the interpersonal influence are important to facilitate the diffusion of an innovation.

• Korean Management Science Review
• /
• v.26 no.2
• /
• pp.19-35
• /
• 2009

This paper investigated performance of the Markowitz's portfolio selection model with applications to Korean stock market. We chose Samsung-Group-Funds and KOSPI index for performance comparison with the Markowitz's portfolio selection model. For the most recent one and a half year period between March 2007 and September 2008, KOSPI index almost remained the same with only 0.1% change, Samsung-Group-Funds showed 20.54% return, and Markowitz's model, which is composed of the same 17 Samsung group stocks, achieved 52% return. We performed sensitivity analysis on the duration of financial data and the frequency of portfolio change in order to maximize the return of portfolio. In conclusion, according to our empirical research results with Samsung-Group-Funds, investment by Markowitz's model, which periodically changes portfolio by using nonlinear programming with only financial data, outperformed investment by the fund managers who possess rich experiences on stock trading and actively change portfolio by the minute-by-minute market news and business information.

• Management Science and Financial Engineering
• /
• v.15 no.2
• /
• pp.101-118
• /
• 2009

In quantitative contexts, data mining is widely applied to the prediction of stock prices from financial time-series. However, few studies have examined the potential of data mining for shedding light on the qualitative problem-solving knowledge of experts who make stock price predictions. This paper presents a GA-based data mining approach to characterizing the qualitative knowledge of such experts, based on their observed predictions. This study is the first of its kind in the GA literature. The results indicate that this approach generates rules with higher accuracy and greater coverage than inductive learning methods or neural networks. They also indicate considerable agreement between the GA method and expert problem-solving approaches. Therefore, the proposed method offers a suitable tool for eliciting and representing expert decision rules, and thus constitutes an effective means of predicting the stock price index.

• Management Science and Financial Engineering
• /
• v.15 no.2
• /
• pp.69-100
• /
• 2009

In this paper, we consider a relatively new two-machine flow shop scheduling problem where the unit time WIP cost increases as a job passes through various stages in the production process, and the objective is to minimize the total WIP (work-in-process) cost. Specifically, we study three special cases of the problem. First, we consider the problem where processing times on machine 1 are identical. Second, the problem with identical processing times on machine 2 is examined. The recognition version of the both problems is unary NP-complete (or NP-complete in strong sense). For each problem, we suggest two simple and intuitive heuristics and find the worst case bound on relative error. Third, we consider the problem where the processing time of a job on each machine is proportional to a base processing time. For this problem, we show that a known heuristic finds an optimal schedule.

• Korean Management Science Review
• /
• v.25 no.3
• /
• pp.59-72
• /
• 2008

This paper proposes an R&D opportunity scan framework for information and telecommunications company in aging society. The framework consists of trend analysis, market-oriented search, technology-oriented search, and R&D Portfolio development. We identify technology themes in the market-oriented search by developing market scenarios and analyzing a new business model framework. And then we search prospective technologies in the technology-oriented recess by technology scanning and patent analysis. By matching technology themes with prospective technologies, generate an R&D portfolio. Finally, we evaluate the risk of the proposed R&D portfolio.

• Knowledge Management Research
• /
• v.8 no.1
• /
• pp.1-14
• /
• 2007

This paper is an exploratory study providing critical research issues in knowledge management strategy, process operations, and knowledge management system design and control in mass customization. The firms implementing mass customization provide good cases adopting recent changes in business environment including increased diversity and variability of customer needs, fast development of related technologies, and increase of the necessity of knowledge management. In this study, required knowledge management characteristics are investigated and future research issues are suggested for successful implementations of knowledge management. Research issues are extracted from the context of strategy, process, and information system for the purpose of practical adaptation and the types of mass customization are emphasized as a mediating element for fit and consistency between firms' corporate strategy and knowledge management characteristics.

• Annual Conference of KIPS
• /
• 2005.11a
• /
• pp.659-662
• /
• 2005

Most organizations adopt a process-based approach to manage their operations and now business process management(BPM) is a well-established concept. Because ISO 9001:2000 has been influenced by BPR and it also emphasizes process based. BPM can get together with ISO 9001:2000. Korea Institute of Science and Technology Information has taken ISO 9001:2000 certificate in November 11, 2003 and now implements quality management systems based on BPMS. We call it KQMS(KISTI Quality Management System). KQMS based on BPMS is a new example in field of ISO quality management and is expected to support process management well.

• Korean Management Science Review
• /
• v.11 no.1
• /
• pp.165-186
• /
• 1994

The increasing importance of end-user computing(EUC) is reflected in the proliferation of academic and practitioner literature on the subject. However, much of this literature assumes widely differing dimensions of EUC, which tends to make many researchers suggest different success factors for managing EUC. Moreover, the variables regarding EUC management have been considerably restricted in previous research. In order to overcome these problems, this study focuses on identifying EUC dimensions theoretically and deriving generic variables representing the mode of EUC management by factor analysis first. Then, based on these EUC dimensions and generic variables for EUC management, effective ways of managing EUC are hypothesized and tested empirically through a mail survey of end-users in 83 Korean business organizations. The results suggest that effective management of EUC should be different depending upon which dimension more importance is attached to in implementing EUC.