• Title/Summary/Keyword: Financial structure

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Implementation and Performance Evaluation of a Firm's Green Supply Chain Management under Uncertainty

  • Lin, Yuanhsu;Tseng, Ming-Lang;Chiu, Anthony S.F.;Wang, Ray
    • Industrial Engineering and Management Systems
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    • v.13 no.1
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    • pp.15-28
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    • 2014
  • Evaluation of the implementation and performance of a firm's green supply chain management (GSCM) is an ongoing process. Balanced scorecard is a multi-criteria evaluation concept that highlights implementation and performance measures. The literature on the framework is abundant literature but scarce on how to build a hierarchical framework under uncertainty with dependence relations. Hence, this study proposes a hybrid approach, which includes applied interpretive structural modeling to build a hierarchical structure and uses the analytic network process to analyze the dependence relations. Additionally, this study applies the fuzzy set theory to determine linguistic preferences. Twenty dependence criteria are evaluated for a GSCM implemented firm in Taiwan. The result shows that the financial aspect and life cycle assessment are the most important performance and weighted criteria.

Assessment of Effects of Predictors on the Corporate Bankruptcy Using Hierarchical Bayesian Dynamic Model

  • Sung Min-Je;Cho Sung-Bin
    • Management Science and Financial Engineering
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    • v.12 no.1
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    • pp.65-77
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    • 2006
  • This study proposes a Bayesian dynamic model in a hierarchical way to assess the time-varying effect of risk factors on the likelihood of corporate bankruptcy. For the longitudinal data, we aim to describe dynamically evolving effects of covariates more articulately compared to the Generalized Estimating Equation approach. In the analysis, it is shown that the proposed model outperforms in terms of sensitivity and specificity. Besides, the usefulness of this study can be found from the flexibility in describing the dependence structure among time specific parameters and suitability for assessing the time effect of risk factors.

A Two-Stage Heuristic for Disassembly Scheduling with Capacity Constraints

  • Jeon Hyong-Bae;Kim Jun-Gyu;Kim Hwa-Joong;Lee Dong-Ho
    • Management Science and Financial Engineering
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    • v.12 no.1
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    • pp.95-112
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    • 2006
  • Disassembly scheduling is the problem of determining the quantity and timing of disassembling used or end-of-life products while satisfying the demand of their parts and/or components over a planning horizon. The case of assembly product structure is considered while the resource capacity constraints are explicitly considered. A cost-based objective is considered that minimizes the sum of disassembly operation and inventory holding costs. The problem is formulated as an integer programming model, and a two-stage heuristic with construction and improvement algorithms is suggested in this paper. To test the performance of the heuristic, computational experiments are done on randomly generated problems, and the results show that the heuristic gives near optimal solutions within a very short amount of computation time.

Fuzzy GMDH-type Model and Its Application to Financial Demand Forecasting for the Educational Expenses

  • Hwang, Heung-Suk;Seo, Mi-Young
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • 2007.11a
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    • pp.183-189
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    • 2007
  • In this paper, we developed the fuzzy group method data handling-type (GMDH) Model and applied it to demand forecasting of educational expenses. At present, GMDH family of modeling algorithms discovers the structure of empirical models and it gives only the way to get the most accurate identification and demand forecasts in case of noised and short input sampling. In distinction to fuzzy system, the results are explicit mathematical models, obtained in a relative short time. In this paper, an adaptive learning network is proposed as a kind of fuzzy GMDH. The proposed method can be reinterpreted as a multi-stage fuzzy decision rule which is called as the fuzzy GMDH. The fuzzy GMDH-type networks have several advantages compared with conventional multi-layered GMDH models. Therefore, many types of nonlinear systems can be automatically modeled by using the fuzzy GMDH. A computer program is developed and successful applications are shown in the field of demand forecasting problem of educational expenses with the number of factors considered.

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A Simulation based Approach for Group Decision-Making Support

  • Kwahk, Kee-Young;Kim, Hee-Woong
    • Management Science and Financial Engineering
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    • v.10 no.1
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    • pp.1-23
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    • 2004
  • The changing structure of organization and the increasing diversity of business have forced organizations to have abilities to coordinate dispersed business activities. They have required cooperation and coordination among the functional units in the organization which should involve group decision-making processes. Although many group decision-making support tools and methods have been introduced to enable the collaborative process of group decision-making, they often lack the features supporting the dynamic complexity issue frequently occurring at group decision-making processes. This results in cognitive unfit between the group decision-making tasks and their supporting tools, bringing about mixed results in their effects on group decision-making. This study proposes system dynamics modeling as a group decision-making support tool to deal with the group decision -making tasks having properties of dynamic complexity in terms of cognitive fit theory.

Development of Multi-Functional Sofa Bed for One-Person Household (1인 가구를 위한 소파 베드 개발에 관한 연구)

  • Kim, Sang Kwon
    • Journal of the Korea Furniture Society
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    • v.27 no.4
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    • pp.309-317
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    • 2016
  • Recently, Korean society is increaseing "1 person family" phenomenon, which is influenced by changing of young peoples' value, aging society and social economic problems. Increase of single households is a result of complex economic, cultural and social factors. It is because as the individual's financial independence increases due to elevated income and education level, the age of marriage is going up and the individualism, which values the individual's value rather than custom, is spreading. Therefore, this new phenomenon will be impact to between social, economic value structure and living space. An increase with small furnitures are also increasing of R&D and marketing plans for 1 person family. Currently, 1 person family is bigger than last decade and that is requiring more suitable and multi-functional furniture for them. However, in Korea furniture companies are more optimization to traditional family size. Thus, this research explore about developing cheap price sofa bed, which is using at narrow area and small place.

THE RELATIONSHIP BETWEEN THE INFLUENCE FACTORS AND THE AUDITOR′S USE OF EDP AUDIT TECHNIQUES IN KOREAN ACCOUNTING FIRMS

  • Choe, Jong-Min
    • Management Science and Financial Engineering
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    • v.3 no.2
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    • pp.45-70
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    • 1997
  • The objectives of this study are to suggest and empirically prove the relationship model for investigating influence factors on the use of EDP audit techniques, and to identify moderating effects of the task types of EDP audit on the relationships between the influence factors and the use of EDP audit techniques. The results of the empirical test suggested that there are significant (positive or negative) correlations between the use of some EDP audit techniques and the influence factors, such as audit education, auditor's familiarity and age, and effectiveness of the technique, etc. The significant differences in the use of EDP audit techniques were empirically proved in the ratio of audit fees and the audit structure. It was also proved that the relationships between the use of techniques and the influence factors are different according to the task types of EDP audit. This study proposed the technique and the auditor related implications of these findings for the successful fulfilment of EDP audit.

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SPECIFICATION AND CONTROLLER SYNTHESIS FOR THE HIERARCHICAL CONTROL OF FMS

  • Chang, Jin-Tae;Kim, Hun-Tai;Kang, Suk-Ho
    • Management Science and Financial Engineering
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    • v.3 no.2
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    • pp.71-92
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    • 1997
  • Developing FMS controllers has been a difficult problem largely because of the variety of the system configuration. The purpose of this paper is to develop a method of building an FMS controller. The controller consists of control module and execution module. A hierarchically layered structure of these modules is proposed. The control module generates abstract-level execution requested by identifying a set of activities that can be executed without creating any irregular state. The execution module transmits the requests to physical device controllers and reports back the completion of the requests to the control module. Both of these two modules use Petri Net-based models. In this paper, a controllable Petri Net model is automatically synthesized from declarative specifications provided by a user. An execution Petri Net model for the execution module is designed to ensure the consistency between the control module and the real target system. The controller operates in MMS on TCP/IP and UNIX environment.

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Sojourn Times in a Multiclass Priority Queue with Random Feedback

  • Hong, Sung-Jo;Hirayama, Tetsuji
    • Management Science and Financial Engineering
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    • v.2 no.1
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    • pp.123-145
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    • 1996
  • We consider a priority-based multiclass queue with probabilistic feed-back. There are J service stations. Each customer belongs to one of the several priority classes, and the customers of each class arrive at each station in a Poisson process. A single server serves queued customers on a priority basis with a nonpreemptive scheduling discipline. The customers who complete their services feed back to the system instantaneously and join one of the queues of the stations or depart from the system according to a given probability. In this paper, we propose a new method to simplify the analysis of these queueing systems. By the analysis of busy periods and regenerative processes, we clarify the underlying system structure, and systematically obtain the mean for the sojourn time, i.e., the time from the arrival to the departure from the system, of a customer at every station. The mean for the number of customers queued in each station at an arbitrary time is also obtained simultaneously.

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Development of an Analytic Hierarchy Process Model for the Bidder Selection of a Large Construction Project (대형공사의 최적입찰자 선정을 위한 계층분석과정(AHP) 모형의 개발)

  • 정병호;조권익
    • Korean Management Science Review
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    • v.16 no.1
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    • pp.75-85
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    • 1999
  • In recent, an unfaithful construction bring about many social problems. The bidding process considering bidding price firstly is one of the reasons raising an unfaithfull construction work. Thus, we should consider many other criteria including bidding price in the bidder selection process. This paper suggests an analytic hierarchy process(AHP) model for selecting the best bidder of a large construction project. A questionnaire was used to obtain domain experts' opinion about criteria to be considered in the bidding process. A hierarchical structure of the AHP model is formed using criteria obtained in the survey. The model consists of bidding price, construction capability, financial status, faith, and their 17 sub-attributes. The relative importance of bidders are judged by pairwise comparison or absolute measurement. An illustrative example is given to show the process selecting the best bidder using the suggested AHP model.

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