Partial equilibrium in risk‐based production decisions

Characteristically, a small subset of operational problems admit risk neutrality when contingent claims methodology were used in their analysis. That is, for the majority of manufacturing and production problems, operating cash flows are not directly linked to prices of traded assets. However, to the extent that correlations can be estimated, the methodology's applicability to a broader set of operational problems is supported. Our article addresses this issue with the objective of extending the use of contingent claims techniques to a larger set of operational problems. In broad terms, this objective entails a partial equilibrium approach to the problem of valuing uncertain cash flows. To this end, we assume risk aversion and cast our approach within Merton's intertemporal capital asset pricing model. In this context, we formulate a “generic” production valuation model that is framed as an exercise in stochastic optimal control. The model is versatile in its characterization and can easily be adapted to accommodate a wide‐ranging set of risk‐based operational problems where the underlying sources of uncertainty are not traded. To obtain results, the model is recast as a stochastic dynamic program to be solved numerically. The article addresses a number of fundamental issues in the analysis risk based decision problems in operations. First, in the approach provided, decisions are analyzed under a properly defined risk structure. Second, the process of analysis leads to suitably adjusted probability distributions through which, appropriately discounted expectations are derived. Third, through consolidating existing concepts into a standard and adaptable framework, we extend the applicability of contingent claims methodology to a broader set of operational problems. The approach is advantageous as it obviates the need for exogenously specifying utility functions or discount rates.© 2011 Wiley Periodicals, Inc. Naval Research Logistics, 2011     

Multiple common due dates

Common due date problems have been extensively discussed in the scheduling literature. Initially, these problems discussed finding a common due date for a set of jobs on a single machine. These single machine problems were later extended to finding the common due date on a set of parallel machines. This paper further extends the single machine problem to finding multiple common due dates on a single machine. For a basic and important class of penalty functions, we show that this problem is comparable to the parallel machine problem. © 2001 John Wiley & Sons, Inc. Naval Research Logistics 48: 293–298, 2001     

The selection allocation problem

The Selection Allocation Problem (SAP) is a single period decision problem which involves selecting profit‐maximizing (or cost‐minimizing) activities from various distinct groups, and determining the volume of those activities. The activities in each group are selected subject to the availability of that group's resource, which is provided by either pooling or blending raw inputs from several potential sources. Imbedded in the decision process is the additional task of determining how much raw input is to be allocated to each group to form the resource for that group. Instances of this problem can be found in many different areas, such as in tool selection for flexible manufacturing systems, facility location, and funding for social services. Our goal in this paper is to identify and exploit special structures in the (SAP) and use those structures to develop an efficient solution procedure. © 1999 John Wiley & Sons, Inc. Naval Research Logistics 46: 707–725, 1999     

Sensitivity analysis on responsive pricing and production under imperfect demand updating

This paper examines three types of sensitivity analysis on a firm's responsive pricing and responsive production strategies under imperfect demand updating. Demand has a multiplicative form where the market size updates according to a bivariate normal model. First, we show that both responsive production and responsive pricing resemble the classical pricing newsvendor with posterior demand uncertainty in terms of the optimal performance and first‐stage decision. Second, we show that the performance of responsive production is sensitive to the first‐stage decision, but responsive pricing is insensitive. This suggests that a “posterior rationale” (ie, using the optimal production decision from the classical pricing newsvendor with expected posterior uncertainty) allows a simple and near‐optimal first‐stage production heuristic for responsive pricing. However, responsive production obtains higher expected profits than responsive pricing under certain conditions. This implies that the firm's ability to calculate the first‐stage decision correctly can help determine which responsive strategy to use. Lastly, we find that the firm's performance is not sensitive to the parameter uncertainty coming from the market size, total uncertainty level and information quality, but is sensitive to uncertainty originating from the procurement cost and price‐elasticity.     

Interpreting the Ribchester Helmet

In 1796 a 13-year-old boy playing on wasteland behind his father’s house in Ribchester, Lancashire discovered an assemblage of over 30 Roman artefacts, including a decorated brass helmet. Although partially corroded the Ribchester helmet is a fine example of a first-century AD cavalry sports helmet. This article considers how the interpretation of the helmet has evolved since its discovery. The multi-faceted iconography of the helmet with its mural crown diadem is that of an elite soldier and is paralleled in other examples of cavalry sports helmets of the Ribchester type. The long-neglected imagery on the helmet bowl is reinterpreted and seen not as a haphazard collection of randomly placed combatants but as a highly structured, symmetrical composition specifically designed to be viewed from different directions.     

基于任务冲击条件下弹药生产响应能力研究

在对弹药生产响应能力与生产速度关系分析的基础上,提出了基于任务冲击下,弹药生产响应能力的计算方法。对不同任务冲击度及生产速度约束条件下,弹药生产响应能力系数进行了对比,为任务冲击情况下弹药生产响应能力需求的确定提供参考。     

装备维修器材生产路径决策的两阶启发式算法

当前装备供应保障系统中维修器材存在短缺、积压以及配送系统效率低下等问题,亟须对生产、库存和配送作业环节进行集成优化。为客观反映各个决策环节,将该问题公式化为一个混合整数线性规划模型,针对该模型多变量、多约束的特点,提出了一个基于数学规划的两阶启发式算法对其进行求解。结合算例,检验模型的可行性,并选取求解器CPLEX和一个类似的迭代算法与该算法在求解质量和运算时间方面进行对比与分析。结果表明,提出的模型是合理可行的,该算法在求解不同规模实例时表现出优异的性能。     

谈英语教学中学生创造思维的培养

目前，我国外语教学普遍存在费时较多、收效较低的现象，特别是精读课教学，向来只注重给学生注入语言知识，而轻视学生创造思维能力的培养。要解决这一问题，外语教学工作者必须改变教学观念，避免在外语课教学中只重识记而轻思维这一现象。     

陕西文学旅游资源的开发生产与营销策划

陕西具有丰富的文学旅游资源，这些资源具有广阔的开发和利用空间。文章就陕西文学旅游资源开发现状进行分析，针对目前存在的问题提出开发生产和营销策略，即要处理好旅游主体、旅游客体和旅游媒体三者的关系，促进陕西旅游可持续发展。     

亚细亚生产方式研究概况及其意义

马克思在研究亚洲或东方社会的状况时,提到亚细亚生产方式的概念,对此概念的严格定义则不是马克思关注的焦点,他的关注点集中在东西生产方式的区别上,以及当时东方社会为何遭受到西方社会的打击,并在此基础上为包括东方国家在内的落后国家寻找一条出路。然而,后人却对亚细亚生产方式概念进行了各种各样的论争,这虽有时代背景上的原因,也有诸多理论上的原因,无疑也背离了马克思探讨亚细亚生产方式的原意。可是另一方面,通过对亚细亚生产方式的研究和争论,有助于了解包括中国在内的亚洲国家的历史和现状。了解自身历史的生产方式,以及和西欧生产方式进行对比,对于现代化进程中的中国有着很大的借鉴和启发意义。