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Now showing items 65 - 80 of 201

  • Editorial:Publishing operations management research in transportation research - Part E

    Choi, Tsan-Ming  

    Operations management (OM) is an important area in business and engineering, which can be regarded as a spinoff of Operations Research and Management Science (OR/MS). In Web of Science, Transportation Research - Part E: Logistics and Transportation Review (TRE) is listed in the category of OR/MS. In fact, according to statistics and our editorial experience, about half of the papers submitted to TRE are classified as OM papers. Owing to the popularity of OM papers in TRE, this paper updates the editorial policy of TRE in the area of OM and highlights some points to help authors to successfully publish high quality and impactful papers in TRE.
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  • Optimal Bi-Objective Redundancy Allocation for Systems Reliability and Risk Management

    Govindan, Kannan   Jafarian, Ahmad   Azbari, Mostafa E.   Choi, Tsan-Ming  

    In the big data era, systems reliability is critical to effective systems risk management. In this paper, a novel multi-objective approach, with hybridization of a known algorithm called NSGA-II and an adaptive population-based simulated annealing (APBSA) method is developed to solve the systems reliability optimization problems. In the first step, to create a good algorithm, we use a coevolutionary strategy. Since the proposed algorithm is very sensitive to parameter values, the response surface method is employed to estimate the appropriate parameters of the algorithm. Moreover, to examine the performance of our proposed approach, several test problems are generated, and the proposed hybrid algorithm and other commonly known approaches (i.e., MOGA, NRGA, and NSGA-II) are compared with respect to four performance measures: 1) mean ideal distance; 2) diversification metric; 3) percentage of domination; and 4) data envelopment analysis. The computational studies have shown that the proposed algorithm is an effective approach for systems reliability and risk management.
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  • Editorial to the Special Issue on Operations Research Models for Supply Chain Finance

    Choi, Tsan-Ming   Ivanov, Dmitry  

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  • Pareto Improving Supply Chain Coordination Under a Money-Back Guarantee Service Program

    Heydari, Jafar   Choi, Tsan-Ming   Radkhah, Saghi  

    Money-back guarantee (MBG) is a well-known service offered by many retailers. Under the MBG policy, a purchased item by a consumer can be returned for a full refund. In this paper, we explore a supply chain (SC) system comprising of one retailer, which offers the money-back guarantee policy and faces a stochastic demand. With a given supply contract offered by the supplier, the retailer makes decisions on the order quantity and the market coverage of the money-back guarantee service. With reference to real-world practices, we examine three models, namely, (1) the traditional wholesale pricing model without the buyback contract, (2) the model with a buyback contract (between the supplier and the retailer) for unsold items, and (3) a dual-buyback (DB) contract model for both unsold and consumer returned items. We find that using the buyback contract alone for unsold items cannot achieve Pareto improving supply chain coordination, whereas the DB contract can. Numerical findings also indicate that the DB contract can lead to an expansion of the money-back guarantee service program to cover more customers. This paper's findings support the implementation of the DB contract, which is commonly seen in the industry, for efficient supply chain management in the presence of the money-back guarantee service program.
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  • Innovative quick response programs: A review

    Choi, Tsan-Ming   Sethi, Suresh  

    The quick response (QR) supply chain system has received a great deal of attention in the recent past because of the advances in many new technologies such as RFID systems and mobile computing. Establishment of supply chain practices, such as collaborative planning, forecasting, and replenishment (CPFR), and vendor managed inventory (VMI) has also contributed to the development of QR in industrial practice. In view of the growing importance of QR, we review a selection of papers in the supply chain management literature that focus on the innovative measures associated with QR. By classifying the literature into three major areas, namely, supply information management, demand information management, and values of information and supporting technologies, we derive insights into the current state of knowledge in each area and identify some associated challenges. We also suggest future research directions. In conclusion, this paper provides useful information in helping academicians and practitioners to effectively design, control, and implement QR programs. (C) 2010 Elsevier B.V. All rights reserved.
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  • Intelligent Fabric Hand Prediction System With Fuzzy Neural Network

    Yu, Yong   Hui, Chi-Leung   Choi, Tsan-Ming   Au, Raymond  

    Fabric selection is a crucial step in fashion product development. Prior research works have studied the prediction of fabric specimens based on the fabric hand descriptors via either traditional statistical methods or artificial intelligence methods. Despite showing good prediction accuracy, these methods usually lack an understandable ruleset, which means their "interpretability" is low. In this paper, a fuzzy neural network (FNN) based intelligent fabric hand prediction system is explored. Unlike some traditional FNN models in which a full ruleset of the artificial neural network (ANN) is presumed, the proposed FNN system includes a simplification of the network structure and feature selection, so that the number of rules is significantly reduced without big sacrifice on prediction accuracy. Real datasets collected from 30 participants' evaluation on a set of ten fabric specimens are used to train and test the performance of the proposed system. The system's prediction accuracy is found to be over 80%. Applications of the proposed system are discussed and future research directions are outlined.
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  • Pay upfront or pay later? Fixed royal payment in sustainable fashion brand franchising

    Cai, Ya-Jun   Chen, Yue   Siqin, Tana   Choi, Tsan-Ming   Chung, Sai-Ho  

    In the fashion industry, many brands operate under different kinds of franchising systems. In many cases, there is a fixed royalty charged by the franchisor. We observe that some franchisors insist on charging the fixed royalty as an upfront payment (before starting the franchising operations), whereas some request the franchisees to pay after the franchising operations have started. We name the first scenario as the upfront payment (URP) plan and the later one as the later payment (LRP) plan. In this paper, based on real world observed franchising arrangements for sustainable fashion brands, we build analytical models to compare the URP plan and the LRP plan from the supply chain finance perspective. We find that the social welfare performance (SWP) under the URP scenario depends on the value of royalty payment, while the SWP under the LRP scenario is not affected by the royalty payment. Moreover, the profit risks of the franchisee, the supply chain and the social welfare all increase with the order quantity. In the extended model, we explore the case when both the fixed royalty and the variable royalty co-exist. Finally, we explore the supply chain coordination problems and generate managerial insights.
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  • Fast fashion brand extensions: An empirical study of consumer preferences

    Choi, Tsan-Ming   Liu, Na   Liu, Shuk-Ching   Mak, Joseph   To, Yeuk-Ting  

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  • Supply chain coordination with risk sensitive retailer under target sales rebate

    Chiu, Chun-Hung   Choi, Tsan-Ming   Li, Xun  

    Target sales rebate (TSR) contracts have been shown to be useful in coordinating supply chains with risk-neutral agents. However, there have been few studies on the cases with risk sensitive agents. As a result, based on the classic Markowitz portfolio theory in finance, we carry out in this paper a mean-variance (MV) analysis of supply chains under TSR contracts. We study a supply chain with a single supplier and a single risk averse retailer. We propose TSR contracts for achieving coordination. We demonstrate how TSR contracts can coordinate the supply chain which takes into consideration the degree of risk aversion of the retailer. We find that the supplier can coordinate the channel with flexible TSR contracts. In addition, we extend the supply chain model to include sales effort decision of the retailer. Conditions for TSR contracts to coordinate the supply chain with sales effort of retailer are also derived. (C) 2011 Elsevier Ltd. All rights reserved.
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  • Pay upfront or pay later? Fixed royal payment in sustainable fashion brand franchising

    Cai, Ya-Jun   Chen, Yue   Siqin, Tana   Choi, Tsan-Ming   Chung, Sai-Ho  

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  • Coordinating a two-supplier and one-retailer supply chain with forecast updating

    Yang, Danqin   Choi, Tsan-Ming   Xiao, Tiaojun   Cheng, T. C. E.  

    We consider the component-purchasing problem for a supply chain consisting of one retailer and two complementary suppliers with different lead-times. The retailer purchases a specific component from each supplier for assembling into a fashionable product. After ordering from the long-lead-time supplier (Supplier 1) and before ordering from the short-lead-time supplier (Supplier 2), the retailer can update its demand forecast for the product. The retailer can partially cancel its order from Supplier 1 after forecast updating. By formulating the problem as a dynamic optimization problem, we explore the measures that can be deployed to coordinate the retailer's ordering decisions with forecast updating. We analytically show that the supply chain can be coordinated if both suppliers offer a returns policy and Supplier 1 charges an order-cancelation penalty to the retailer. We find that the coordination mechanism is independent of demand distribution and the forecast updating process. We further show that it is easier for the suppliers to coordinate the supply chain if market observation indicates the future market demand is sufficiently large. We also study the case where demand is price-dependent and propose a generalized revenue-sharing contract to coordinate the supply chain. We discuss the academic and managerial implications of the theoretical findings. (C) 2011 Elsevier Ltd. All rights reserved.
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  • Preface

    Choi, Tsan-Ming   Chan, Hing Kai   Yue, Xiaohang  

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  • Quick response in fashion supply chains with retailers having boundedly rational managers

    Choi, Tsan-Ming  

    In fashion retailing, inventory decisions are usually made by a human manager who is not necessarily perfectly rational. In this situation, the inventory decisions made may not always be optimal. At the same time, with advances in technology, fashion retailers have access to the latest market information and can implement the quick response (QR) system that is very helpful to systematically deal with market disruptions. In this paper, we explore the value of QR with the consideration of a boundedly rational human manager in the fashion retailing company. We show that for both cases, with and without QR, the human retail manager's level of bounded rationality significantly hurts the expected profits of the retailer and supply chain, but it does not hurt the manufacturer's expected profit. In addition, for both cases, with and without QR, we indicate how a minimum ordering quantity (MOQ) measure can be imposed by the manufacturer on the retailer, so that the manufacturer can benefit (in terms of expected profit) from the retailer's bounded rationality behavior. We further prove that if the manufacturer sets the MOQ to be the same as the retailer's theoretical optimal ordering quantity, the manufacturer will enjoy a higher profit with 50% chance, if the retailer is boundedly rational.
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  • Impacts of the Belt and Road Initiative on the China-Europe trading route selections

    Wen, Xin   Ma, Hoi-Lam   Choi, Tsan-Ming   Sheu, Jiuh-Biing  

    This paper investigates the potential of Belt and Road economic corridors to serve as China Europe trading route alternatives. By constructing a new Route Utility Function considering cost, environmental impact, mode reliability & security, transit time, and infrastructure reliability, we demonstrate the remarkable advantages of the corridors over the traditional ocean route and their heterogeneous impacts on different regions of China. The importance of considering infrastructure reliability for trading route selections is highlighted. More importantly, the analyses of this study could generate insightful implications for proper logistics planning under the development of other economic cooperation and trading agreements throughout the world.
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  • Impacts of the Belt and Road Initiative on the China-Europe trading route selections

    Wen, Xin   Ma, Hoi-Lam   Choi, Tsan-Ming   Sheu, Jiuh-Biing  

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  • Local sourcing and fashion quick response system: The impacts of carbon footprint tax

    Choi, Tsan-Ming  

    Quick response (QR) system is a well-established industrial practice in fashion apparel. It aims at enhancing inventory management by reducing lead time. In addition to employing a faster delivery mode, QR can be achieved by local sourcing (instead of offshore sourcing). This paper analytically studies how a properly designed carbon footprint taxation scheme can be imposed on a QR system to enhance environmental sustainability via employing a local manufacturer by offsetting the probable higher total logistics and production costs. By examining both the single-ordering and the dual-ordering QR systems, we illustrate how the carbon footprint taxation scheme affects the optimal choice of sourcing decision. Our analytical findings reveal that a properly designed carbon footprint taxation scheme by governing body not only can successfully entice the fashion retailer to source from a local manufacturer, but it can also lead to a lower level of risk for the fashion retailer. A mean-risk improving scenario hence results and it provides a significant incentive to convince the fashion retailer to support the idea of joining QR when the carbon footprint tax is in place. (C) 2013 Elsevier Ltd. All rights reserved.
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