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Now showing items 1 - 16 of 201

  • Data science and analytics in aviation

    Chung, Sai-Ho   Ma, Hoi-Lam   Hansen, Mark   Choi, Tsan-Ming  

    Data science and analytics are attracting more and more attention from researchers and practitioners in recent years. Due to the rapid development of advanced technologies nowadays, a massive amount of real time data regarding flight information, flight performance, airport conditions, air traffic conditions, weather, ticket prices, passengers comments, crew comments, etc., are all available from a diverse set of sources, including flight performance monitoring systems, operational systems of airlines and airports, and social media platforms. Development of data analytics in aviation and related applications is also growing rapidly. This paper concisely examines data science and analytics in aviation studies in several critical areas, namely big data analysis, air transport network management, forecasting, and machine learning. The papers featured in this special issue are also introduced and reviewed, and future directions for data science and analytics in aviation are discussed.
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  • Values of food leftover sharing platforms in the sharing economy

    Choi, Tsan-Ming   Guo, Shu   Liu, Na   Shi, Xiutian  

    For many food products, such as fresh vegetable and fruit, proper handling of product leftovers is critical. In recent years, food leftover sharing (FLS) platforms that can provide a means to collect the unsold food products from individual retailers and create values from them have emerged. Motivated by this real world observation, we build a single supplier multi-retailer analytical supply chain model to explore the value of this kind of FLS platform. In the decentralized supply chain setting, we prove that the presence of FLS platform is beneficial to the retailers, the supplier, the consumers and the environment. Whether it benefits the supply chain economically depends on the logistics costs (incurred from the food product leftover collection by the FLS platform). We extend the analysis to the case with a centralized supply chain and show that the FLS platform is guaranteed to help improve the environment, but the consumers and the supply chain are only benefited when the logistics costs are sufficiently small. Sensitivity analyses are conducted which show that for both centralized and decentralized supply chain settings, the FLS platform is especially helpful in enhancing social welfare when the unit food product leftover cost is higher, the unit benefit derived from reusing the food product leftovers is higher, or the unit logistics cost is lower. We further consider the case when the logistics cost with the use of platform is high, propose the use of government sponsors to help and provide the conditions under which this sponsor is well-justified with respect to social welfare enhancement.
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  • Inventory Management in Mass Customization Operations: A Review

    Guo, Shu   Choi, Tsan-Ming   Shen, Bin   Jung, Sojin  

    Mass customization (MC), as an operations program to satisfy target consumers by offering personalized products or services, has attracted substantial attention from both the industry and academia. Under this program, one of the most important issues is an efficient management of the related inventories, including the work-in-process inventories, standard items, and the customized items, which can ultimately contribute to a profitable business for the companies who have launched MC. This paper, therefore, focuses on reviewing the mass customization based literature and identifying various methods to effectively manage inventory for MC schemes. In addition to regular inventory management, with the increasing emphasis on corporate social responsibility, MC companies are required to devote more effort to the proper management of leftover and returned inventories under MC. This paper, hence, examines MC inventory management in both forward and reverse logistics. Findings from this review provide a guideline to operations managers on inventory management improvement in their MC operations. Future research opportunities related to MC inventory management, such as supply chain coordination and risk management, are discussed.
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  • Advertising Strategies for Mobile Platforms With "Apps"

    Wang, Ruibing   Gou, Qinglong   Choi, Tsan-Ming   Liang, Liang  

    Mobile platforms are prevalently used in the age of social media. They serve a two-sided market to connect users and app developers. In this system, members simultaneously sell products, publish advertisements (ads), and advertise. This paper aims to explore advertising strategies for the mobile platform incorporating their roles as sellers, ad publishers, and advertisers. Specifically, we develop a game-theoretical model which captures the relationship among the works of the platform owner and app developers in a dynamic setting. Our analysis shows that when the platform displays apps' ads, the owner may be better off to participate in apps' advertising under certain conditions, rather than always charging them aggressively as suggested by convention wisdom. Surprisingly, although the negative impacts evoked by multiple apps' entry deserve much attention, it is unnecessary for app developers to take into account when making advertising decisions. We further find that the coordinating bilateral participation in advertising is a new mechanism to improve the profitability. Unlike the result proposed in the previous literature, the mechanism here will cause free-riding among app developers when they participate in the platform's advertising. Furthermore, when accompanied with the revenue sharing policy, the relatively low participation rates could absolutely eliminate the system inefficiency.
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  • Supply option contracts with spot market and demand information updating

    Zhao, Yingxue   Choi, Tsan-Ming   Cheng, T. C. E.   Wang, Shouyang  

    Motivated by the industrial practices, this paper develops a two-stage model to explore the supply option contract in a two-echelon supply chain, taking into account a stochastic spot market and demand information updating of general correlation. We develop a concept called EUOS (expected unit opportunity saving) by which to examine the expected benefit received per unit of the option under different market scenarios. With the concept of EUOS, we develop intuitive analytical results to characterize the optimal strategies for portfolio procurement via the option contract and spot markets, and to design the appropriate option mechanism for supply chain coordination. Furthermore, we reveal that EUOS can be a viable alternative for real option pricing in the supply chain. Detailed comparisons between the mixed market scenario (in which the spot market and the option contract market co-exist) and the scenario with pure spot market or pure option contract market are made, and thereby we analytically examine the effects of supply competition between the spot market and the option contract market. Our paper contributes to the literature by developing intuitive characterizations for the option contract models and generating some new insights with respect to the use of supply option contracts in the supply chain in the presence of a stochastic spot market and demand information updating. (C) 2017 Elsevier B.V. All rights reserved.
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  • Values of Food Leftover Sharing Platforms in the Sharing Economy

    Choi, Tsan-Ming   Guo, Shu   Liu, Na   Shi, Xiutian  

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  • Pricing and branding for remanufactured fashion products

    Choi, Tsan-Ming  

    In recent years, we have witnessed the start-up of many fashion companies which collect, recycle and sell remanufactured fashion products. This paper explores this particular business operation with respect to their optimal pricing and brand investment decisions. By exploring a stylized basic analytical model, we derive the closed form analytical optimal decisions and explore how they vary with different major model parameters. We uncover that compared to the centralized supply chain optimal decisions, the fashion retailer will over-price the remanufactured fashion product and under-invest on branding under the decentralized setting. A coordination mechanism is hence proposed to help. The situations under which the fashion retailer should set the remanufactured product's price higher than the new product's price are determined. Furthermore, we prove analytically that the presence of a government sponsor for remanufacturing is beneficial to the consumers. Finally, an alternative model with a multiplicative branding effect is investigated. It is interesting to note that the findings obtained under the basic model are still true under the alternative model. Managerial implications and future research are discussed. (C) 2017 Elsevier Ltd. All rights reserved.
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  • Luxury Fashion Retail Management: An Introduction

    Choi, Tsan-Ming   Shen, Bin  

    The luxury fashion industry is an important industry. In this introductory chapter, we briefly highlight the latest figures regarding the significance of the luxury fashion industry. Then, we concisely review the recent literature and examine some important topics on luxury fashion retail management. We also introduce the papers featured in this book.
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  • Used intimate apparel collection programs:A game-theoretic analytical study

    Choi, Tsan-Ming   Chow, Pui-Sze   Lee, Chang Hwan   Shen, Bin  

    This paper explores the used intimate apparel collection (UIAC) programs in a supply chain system. Our game-theoretic analysis reveals that the collector type and the level of retail competition affect the UIAC program significantly. In particular, we show that the benefit-cost ratio of the collector's investment plays a decisive role in determining whether an increased level of competition will improve the UIAC program's levels of social, environmental, and economic sustainability. We further find that an increased level of competition will lead to a higher consumer surplus if the respective consumer goodwill of donation is sufficiently small.
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  • Guest Editorial Special Issue on Risk Analytics in Industrial Systems

    Wu, Desheng Dash   Olson, David L.   Choi, Tsan-Ming  

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  • Advances in Risk Analysis with Big Data

    Choi, Tsan-Ming   Lambert, James H.  

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  • Big Data Analytics in Operations Management

    Choi, Tsan-Ming   Wallace, Stein W.   Wang, Yulan  

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  • Active learning and teaching in fashion

    Choi, Tsan-Ming  

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  • Risk management of logistics systems

    Choi, Tsan-Ming   Chiu, Chun-Hung   Chan, Hing-Kai  

    Nowadays, with the globalization of business operations, logistics systems are threatened by all kinds of uncertainties and disruptions. Almost every month, serious accidents in transportation and natural disasters all around the world are reported in the media. As a result, an effective and efficient risk management scheme is of a top most priority in the mind of all professionals in logistics management. This paper concisely explores risk management of logistics systems in several critical areas, namely disruption risk management, operational risk control, disaster and emergency management, and logistics service risk analysis. The papers featured in the special issue are also introduced and examined. This paper ends with a proposal of various future research directions for advancing risk management of logistics systems. (C) 2016 Elsevier Ltd. All rights reserved.
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  • Inventory Service Target in Quick Response Fashion Retail Supply Chains

    Choi, Tsan-Ming  

    Different fashion brands have different inventory service targets. To achieve the desirable inventory service level without the need of holding a lot of inventory, fashion companies commonly adopt the quick response practice. In this paper, we conduct an analytical study on the influence played by the inventory service target on quick response fashion retail supply chains. To be specific, we consider the case when the fashion retailer, who is the channel leader, aims to achieve an inventory service target in its inventory planning. We explore impacts of the inventory service-targeted quick response program, in terms of expected profit, and profit risk on the fashion retailer, the fashion manufacturer, and the fashion supply chain system. We also examine the quick response's impact on social welfare. We show how three practical contracts, namely, the fixed-fee contract, the wholesale pricing contract, and the product variety contract, can be employed to achieve a win-win situation in the fashion retail supply chain system with the adoption of the inventory service-targeted quick response program. Closed-form managerial insights on how the inventory service target affects the expected benefit of quick response, the reduction of profit risk under quick response, the expected gain of social welfare, the achievability of the win-win situation, and the setting of contractual parameters, are derived.
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  • Emerging Issues in Multi-Channel Operations Management in the O2O Era

    Wu, Desheng   Choi, Tsan-Ming   Yue, Xiaohang  

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