17 results for “stochastic demand”

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Research ArticleOpen accessIn the abstractA Price Hedging Model in Dynamic MarketKuo-Wei Lin, Kuang-Jung Tseng, Szu-Cheng ChengProblem statement: Pricing is a problem when a firm has to set a price for the first time. This happens when the firm develops or acquires a new product, introduces its regular product into a new distribution or geographical area, or enters bids on the new contract work. Many companies try to set the price to maximize current profits. They … …American Journal of Applied Sciences, Vol. 9, Issue 7 · 3 Aug 2012 · 6,938 accessesView PDF Cite

Research ArticleOpen accessIn the abstractApplications of Conditional Value at Risk to Full Truckload Pricing Under Demand and Service Time UncertaintiesThitima Wonginta, Sompong SirisoponsilpProblem statement: Pricing is one of the fundamental management decisions required by a truckload carrier. Traditional pricing based on an average all relevant costs including fixed and variable costs is not capable of providing adequate margins that prevent losses during operation uncertainties inherent in truckload operation including demand variability and variation in service times. Approach: This study utilizes Conditional Value … …American Journal of Engineering and Applied Sciences, Vol. 4, Issue 1 · 28 Jan 2011 · 8,333 accessesView PDF Cite

Research ArticleOpen accessIn the abstractApproximate Maximum Likelihood Commercial Bank Loan Management ModelGodwin Norense Osarumwense AsemotaProblem statement: Loan management is a very complex and yet, a vitally important aspect of any commercial bank operations. The balance sheet position shows the main sources of funds as deposits and shareholders contributions. Approach: In order to operate profitably, remain solvent and consequently grow, a commercial bank needs to properly manage its excess cash to yield returns in the … …Journal of Social Sciences, Vol. 5, Issue 4 · 31 Dec 2009 · 7,237 accessesView PDF Cite

Research ArticleOpen accessIn the abstractAnt Colony Optimization for Solving Solid Waste Collection Scheduling ProblemsZ. Ismail, S. L. LohProblem statement: Southern Waste Management environment (SWM environment) is a company responsible for the collection and disposal of solid waste for the city of Johor Bahru, a city with over one million populations. The company is implementing an integrated solid waste management system where it involved in the optimization of resources to ensure the effectiveness of its services. Formulating this … …Journal of Mathematics and Statistics, Vol. 5, Issue 3 · 30 Sep 2009 · 8,015 accessesView PDF Cite

Research ArticleOpen accessIn the abstractHydropower System Management Considering the Minimum OutflowM. L. Arganis, R. DomínguezThis paper deals with the operating rules of the Grijalva River hydropower serial system obtained by means of stochastic dynamic programming and its subsequent simulation using historical records and synthetic series. Penalties in spills and deficit were considered in optimum policies. During simulation several restrictions were added to the original problem, particularly to ensure minimum outflow so as to guarantee … …American Journal of Environmental Sciences, Vol. 4, Issue 3 · 30 Jun 2008 · 6,540 accessesView PDF Cite

Research ArticleOpen accessIn the abstractGeneralized Shortest Path Problem in Uncertain Environment Based on PSOHayder A. Mukhef, Ekhlas M. Farhan, Mohammed R. JassimGeneralized network problems describe situations in which flow can be generated or consumed through arcs. This research considers generalized shortest path problem in stochastic environment in which the changing rate of flow is random. To satisfy the demands of decision makers, three types of models have been formulated to solve the generalized shortest path problem under different decision criteria. The … …Journal of Computer Science, Vol. 4, Issue 4 · 30 Apr 2008 · 6,749 accessesView PDF Cite

Research ArticleOpen accessAll words, across the recordSolving One-Dimensional Cutting Stock Problem with Discrete Demands and Capacitated Planning ObjectiveSirirat Wongprakornkul, Peerayuth CharnsethikulProblem statement: One-dimensional cutting stock problem with discrete demands and capacitated planning objective is an NP hard problem. Approach: The mathematical model with column-generation technique by a branch-and-bound procedure and the heuristic based on the first fit decreasing method are proposed. Then, both approaches were compared and some characteristics were investigated such as upper-bound value, percentage above lower-bound value, computation … …Journal of Mathematics and Statistics, Vol. 6, Issue 2 · 30 Jun 2010 · 7,947 accessesView PDF Cite