Department of Systems and Productivity Management (2012 - Present)
industrial engineering
, Tarbiat Modares University,
Industrial Engineering - System Planning and Analysis
, Isfahan University of Technology,
Financial engineering
Business School , Common Wealth University , Richmond, USA
industrial engineering
انتقالی از دانشگاه صنعتی شریف, North Eastern, U.S.A
Farimah Mokhatab rafiei is an associate professor of Faculty of Industrial and Systems Engineering, Department of System and Productivity Management at Tarbiat Modares University. At first she started her BSc at Sharif university of Technology, Tehran, Iran but after two years she transferred to North Eastern University at Boston, USA. Dr. Mokhatab rafiei obtained her MSc and PhD in industrial engineering from Isfahan University of Technology, Isfahan, Iran and Tarbiat Modares University, Tehran, Iran, in 1986 and 1999 respectively. She also received another MSc in Financial Engineering from Business School of Common Wealth University at Richmond, Virginia, USA in 2005. Possessing these two concurrent proficiencies, industrial engineering and financial engineering, made her a multi subject researcher. Consequently her current research focuses mainly on two rather separate fields, one on investment and financial risk management and the other on supply chain integration with managing flows of material cash.
Faced with economic recession, firms struggle to find ways to stay competitive and maintain market share. Effective coordination of the supply chain can solve this problem, but this may fail if existing capital constraints and financial flows are ignored. This study addresses the challenge by exploiting coordination through joint decision-making on the physical and financial flows of a capital-constrained supply chain. We also consider the capital-constrained member’s financing limitations that lead to lost sales. Two scenarios based on non-coordinated and coordinated structures are modeled in the form of bi-objective optimization problems that simultaneously optimize system costs and service levels. The models are solved using the
PurposeThis study provides a systematic review on performance measurement of supply chains from a financial perspective.Design/methodology/approachThis study systematically reviews the financial performance measures of supply chains. More specifically, this research reviews a total of 100 papers published in more than 50 peer-reviewed journals. The reviewed papers are categorized into three major areas of engineering, business and management. Additionally, the papers are investigated based on country, journal frequency, applied methods, publication date and research type (application or developmental).FindingsAccording to the obtained results, cost, return on assets (ROA), sales, asset turnover, return on investment (ROI), market share, inv
The goal of this paper is to propose an efficient operations-finance integrated decision framework for the manufacturers who face some financial challenges such as capital shortage, high cost of debt, and limited financing capacity. We developed a mixed-integer nonlinear model by extending the multi-product newsvendor problem to establish such a decision framework. To solve the proposed model, a three-phase approach is established based on the analytical analysis of the model features. In the first phase, an exact algorithm is proposed, which leads to a significant reduction in problem complexity. In the second phase, the financing capacity constraint is released and the rest of the problem is solved through KKT conditions. To handle the fi
Supplier selection and order allocation is a complex managerial decision in today's competitive markets. As an important section of this area, green supplier section has been properly focused in previous literature. However, joint supplier selection and order allocation under stochastic demand is less investigated. Firstly, a fuzzy analytic hierarchy process (FAHP) is applied to weight and select suppliers in terms of economic and environmental criteria. Secondly, a multi-objective nonlinear programming (MONLP) is developed and solved by genetic algorithm (GA) for the aim of order allocation. Findings of this study assist managers to systemically deal with the real-world problem of green supplier selection with different priorities and orde
This study develops an integrated AHP-FAHP approach to select the best maintenance strategy for different equipment of a cement manufacturer located in Iran. Although the topic has been investigated in previous literature, it is less examined in cement manufacturers of developing countries. To fill this gap, this research has been conducted in three phases as follows. Firstly, the most important measures of maintenance strategy selection are developed and ranked using a questionnaire. Next, these measures are applied to choose the best maintenance strategy for different equipment of a case study using an Analytic Hierarchy Process (AHP). Finally, a Fuzzy AHP is developed to investigate the obtained results in an uncertain environment. The c
This study developed specific criteria and a fuzzy analytic network process (FANP) to assess and select portfolios on the Tehran Stock Exchange (TSE). Although the portfolio selection problem has been widely investigated, most studies have focused on income and risk as the main decision-making criteria. However, there are many other important criteria that have been neglected. To fill this gap, first, a literature review was conducted to determine the main criteria for portfolio selection, and a Likert-type questionnaire was then used to finalize a list of criteria. Second, the finalized criteria were applied in an FANP to rank 10 different TSE portfolios. The results indicated that profitability, growth, market, and risk are the most impor
This article proposes a multiobjective mathematical model to optimize the multiperiod aggregate production planning (APP) of multiproduct companies. Although there are many studies of lean manufacturing (LM), its integration with APP has not been studied. The present article is intended to integrate APP and LM, including an analysis of market winners, market qualifiers, and waste. The model's objective functions include the cost, lead time, and waste minimization in addition to maximizing the product quality. A solution procedure is suggested to solve the model using IBM CPLEX 12.4 software. The model is investigated in three different case studies to check its applicability and generalizability. According to the obtained results, the propo
The main aim of this research is to propose an integrated Multi-Criteria Decision Making (MCDM) and bi-objective mathematical model for supplier selection and order allocation of lean manufacturers. Despite the vast quantity of research on Lean Manufacturing (LM) and its related tools, lean supplier selection and order allocation is less studied in the previous literature. To fill this gap, this study is conducted in four phases as follows. First, an initial list of leanness criteria is extracted from previous studies. Next, using an Analytic Hierarchy Process (AHP), these criteria are examined to be applied in a supplier selection process. Following, a Fuzzy Analytic Hierarchy Process (FAHP) is applied to select the suppliers
Giving loans and issuing credit cards are two of the main concerns of banks in that they include the risks of non-payment. According to the Basel 2 guidelines, banks need to develop their own credit risk assessment systems. Some banks have such systems; nevertheless they have lost a large amount of money simply because the models they used failed to accurately predict customers’ defaults. Traditionally, banks have used static models with demographic or static factors to model credit risk patterns. However, economic factors are not independent of political fluctuations, and as the political environment changes, the economic environment evolves with it. This has been especially evident in Iran after the 2008–2016 USA sanctions, as many pr
Purpose The purpose of this paper is to propose a framework to assess the agility of manufacturing companies. Design/methodology/approach Particularly, three supply chain logistic drivers (facility, transportation and inventory) along with three cross-functional drivers (information, sourcing and pricing) are selected as the main sets to classify all required activities of agility. In addition, supply chain contracts, as an important indicator of supply chain agility, is also considered to categorize the activities. These activities are ranked using an (AHP) and then categorized based on the major perspectives of agility. Finally, using a cycle view of supply chain, the developed activities are categorized as the major policies of supply
This research develops a fuzzy analytic hierarchy process (FAHP) to investigate and prioritize the failures of knowledge-based business plans. Although the concept of failure investigation has been discussed in previous studies, its integration with knowledge-based business plans is not investigated yet. To fill this gap, this research is completed in three main steps as follows. Firstly, the general failures of business are developed from the previous literature. Secondly, the developed failures are investigated with regard to their availability in knowledge-based business plans. Finally, a FAHP is applied to prioritize the failures of knowledge-based business plans. According to the obtained results, lack of managerial expe
PurposeThe purpose of this paper is to select the best maintenance policy for different types of equipment of a manufacturer integrating the fuzzy analytic hierarchy process (FAHP) and the technique for order of preference by similarity to ideal solution (TOPSIS) models.Design/methodology/approachThe decision hierarchy of this research includes three levels. The first level aims to choose the best maintenance policy for different types of equipment of an acid manufacturer. These equipment pieces include molten sulfur ponds, boiler, absorption tower, cooling towers, converter, heat exchanger and sulfur fuel furnace. The second level includes decision criteria of added-value, risk level and the cost. Lastly, the third level comprises time-bas
Statistical Arbitrage Strategies are looking for profitable opportunities using statistical methods. In this paper, we use a new approach to devise a statistical arbitrage strategy in Iran’s stock exchange market. In this new approach, instead of model and forecast stock prices independently, we take them as a whole and extract their common movement patterns, which can represent the general market movements, with principal component analysis. After that, we model and forecast these patterns (factors) and through them, we forecast the stock returns. Ultimately, we construct portfolios from chosen stocks in each period. Empirical result of this paper show the profitability of these strategies. chosen strategy, with time window of 100 days a
Recognising job motivation is a necessity which can boost job satisfaction employees. In the present work, Herzberg's theory and other extracted variables from previous literature are used here. The aim of the present study is to identify different motivation creating factors for personnel. Thus after extracting all motivation creating factors a questionnaire was devised. More frequent variables were chosen, then by considering the importance of this factors among personnel another questionnaire was designed. This questionnaire was distributed among employees to assess motivation creating factors .Most repeated factors were categorised based on ranking gap analysis and graphs. Some branches of Meli bank of Najaf Abad based on these categori
Public transportation is considered as one of the important parts in factories transportation systems which are known as 'employees' public transportation system'. In order to evaluate this system in Esfahan Steel Company, merely from the production line staff perspective, in this study the factors effective on employees' satisfaction in terms of the transportation system quality were identified only through the interviewing with a group of production line workers. Final data obtained through interviewing and questionnaire were collected during four months from April to July 2015 and were considered as inputs of the study decision making units (DMUs) in data envelopment analysis (DEA). Solving the above mentioned model via Software LINGO 16
Public transportation is considered as one of the important parts in factories transportation systems which are known as' employees' public transportation system'. In order to evaluate this system in Esfahan Steel Company, merely from the production line staff perspective, in this study the factors effective on employees' satisfaction in terms of the transportation system quality were identified only through the interviewing with a group of production line workers. Final data obtained through interviewing and questionnaire were collected during four months from April to July 2015 and were considered as inputs of the study decision making units (DMUs) in data envelopment analysis (DEA). Solving the above mentioned model via Software LINGO 16
forecasting price movements is a challenging issue. So different statistical arbitrage strategies are devised to trade in exchanges. Some of these strategies are market neutral. Market neutral strategies are neutral to market movements and make profits in any situation. These strategies use long and short positions at the same time and this makes them unusable in exchanges like Tehran stock exchange that only long position is available. Purpose of this paper is devising a market neutral statistical arbitrage strategy which can be used in Tehran stock exchange. In devising this strategy we use principal component analysis to estimate market movements and calculate stocks idiosyncratic movements. To forecasting stocks idiosyncratic movements,
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