access deny [1301]
access deny [1026]
In practice, manufacturers who offer base and extended warranty should make simultaneous decisions on product pricing, spare part pricing for out-of-warranty products, base and extended warranty policy, and spare part inventory management. Previous studies neither considered the influence of out-of-warranty products as one of the main sources of manufacturers’ profit nor optimized these decisions in an integrated model. In this paper, these challenges are addressed by introducing an optimization model to maximize the manufacturer's profit. A new math-heuristic algorithm is proposed for solving the model using the hybridization of metaheuristic algorithms with a developed dynamic programming algorithm. To generate a new solution within the
Nowadays, due to increasing the construction cost and limiting the workforce and capital of organizations, the role of maintenance activity and management to maintain the facilities and improve their performance has become more important for all the facilities. Most of the facility life cycle consists of several stages including planning, designing, operation, maintenance, and destruction which most of the time and cost have been spent on the operation and maintenance stages. In this article a new mathematical model has been proposed to optimize multi location facility maintenance scheduling problem. In proposed model combination of Genetic Algorithm and the Particle Swarm Optimization has been adopted to solve problems for organizations wi
Industry-related risks are increasing due to the growing expansion of industries. Each of these risks can have a natural origin (such as earthquakes, flood, and fire) or human origin (such as terrorist attacks, contagious diseases, and intentional or inadvertent mistakes of staff). In this regards, business Continuity Management (BCM) is a comprehensive method to identify risks and reduce the consequent impacts on the organizations’ activities. Essential aspects of BCM includes retrieval of products after disruptive events and resource allocation. Obviously, in each organization, the fundamental objective is to allocate the least amount of resources for retrieving operations and minimizing costs, as well as, restoring activities to the to
This paper proposes an efficient methodology based on the Monte-Carlosimulationbased bi-objective optimization, to determine base-warranty and extended warranty parameters based on the product lifecycle. The first objective, which is from the manufacturer’s perspective, maximizes the profit while the second objective minimizes the expected number of failures that occurred during the out-of-warranty period. The manufacturer can rectify failed products via minimal repair, imperfect repair and perfect repair. The optimization model has decision variables including the product price, base warranty length, extended warranty length, extended warranty price, product failure rate, imperfect repair level, and spare part production rate in each tim
Deregulation of power industry has entailed important changes in the energy market. With the power industry being restructured, a generation company (GenCo) sells energy through auctions in a daily market, and submission of the appropriate amount of electricity with the right bidding price is important for a GenCo to maximize their profits and minimize the acceptance risk. The objective of this paper is to propose a novel approach for determination of the optimal biding patterns among GenCos in the deregulated power market using a hybrid of Markowitz Model and Genetic Algorithm (GA). While Markowitz Model as an optimization model considers the risk premium for biding patterns and GA as a search engine, considering the acceptance risk in der
BackgroundGlobalization allows the effects of disruptions to cascade in the systems rapidly and a small disruption could lead to a broad catastrophe. Nowadays, disruptions are becoming more unpredictable, more frequent and more damaging. Hospitals are critical facilities which play an important role after disruptions. Number of deaths and injuries from disasters depends heavily on how hospitals serve people. Therefore, assuring the proper performance of hospitals under disruption is an important issue. Our approach to improve hospital performance is modelling the performance from resilience engineering perspective.MethodsFirst step towards building or designing a resilient organization is assessment and based on that a set of strategies or
Nowadays, shovels play an important role in production of open pit mines and their failures result in significant production loss and considerable increase in maintenance costs. Therefore, reliability and risk analysis can help to improve production, productivity and reduce production costs. In this study, reliability of electric cable shovel of Chadormalu iron ore mine in Iran was investigated. Failure distribution function of the subsystems whose failure information is available was provided by statistical analysis using EasyFit 5.5, Minitab 18 and the subsystems with low or unavailable failure information which was generated by experts using normal distribution function. Criticality of subsystems was determined using Birnbaum and Fussell
Statistical Process Control (SPC) methods can significantly increase organizational efficiency if appropriately used. The primary goal of process capability studies is to obtain critical information about processes to render them even more effective. This paper proposes a comprehensive framework for proper implementation of SPC studies, including design of the sampling procedure and intervals as well as process capability indices. Some of the most essential process capability indices in the literature were reviewed to develop a methodology to utilize process capability indices within the SPC framework. The current study presents an efficiency-oriented criterion designed for measuring SPC implementation productivity. The framework is applied
Simply defining a measure tells us how we will measure performance, but it does not communicate the expected level of improvement. Target-setting is a strategic process to establish performance goals for organizations. This paper helps to appropriately quantify the strategy map via determining the interactions among the strategic objectives in different layers of the strategic map -weak or strong- and setting an achievable target per measure. To achieve this, a comprehensive model based on Monte Carlo simulation is presented. The proposed model contributes to setting objectives as well as quantifying the strategy map with a focus on targeted strategic objectives of the lower to the upper layers of the strategy map. The latter leads to the f
After restructuring, Iran’s electricity market has become one of the most competitive markets in which generation companies offer their proposed price on several price benches. So, the decisions in this market can use statistical concepts. In this paper, a conceptual model is presented according to simultaneous analysis of probabilistic distribution for historical data of market clearing price and frequency of acceptance of bids. Based on this model, the probable value of market clearing price is measured through the risk of historical data price intervals and the decision is made about bidding strategy. Also, a method is proposed to calculate the probability of acceptance and risk of rejection of bids on the electricity market. The data
Due to the liberalization of the electricity market, evaluation of competitor behaviors, as an uncertainty factor, is a critical information for a Generation Company (GenCo) to maximize its profit by optimizing bidding strategies. In this paper, a new bidding strategy model has been presented based on the Genetic Algorithm and a refined Monte Carlo simulation model. This process is done through the similarity function and consideration of the seasonality trend as the main characteristic of the electricity spot price. The main contributions of this paper include: (a): Consideration of the similarity value for all days in historical dates in the database, (b): Consideration of the seasonality trend of market clearing price by applying K-Means
Nowadays, because of the advancement of technology and subsequently unpredictable events, it is important for addressing risk management as an important part of projects and business. In this paper, a novel approach based on Monte Carlo simulation has been proposed for risk assessment, which considers the co-occurrence of risks. In this method, the output of extended and classic Monte Carlo simulation is applied for co-occurrence-based risk assessment (CORA) and prioritization. Also, the magnitude in each source of uncertainty has been determined by a new approach. The proposed model investigates risk’s relationship and determines the type of effect as resonance or reduction in addition to identifying and analyzing the risks. Also, a syst
Supporting critical activities and key process in the unmoral situation is important success factor to any organisations and emergency department (ED) as one of the most important parts of the hospital. The aim of this paper is to identify and prioritise ED critical activities by using business continuity management (BCM) approach. For this purpose, preliminary ten main activities in ED were identified based on the patient flow mapping through using BPMN standard and literature review and experts judgement. Then, analytical hierarchy process (AHP) has been used to assess the identified ten activities of ED and to find their priorities in according to major criteria of criticality of an activity. Ten preliminary activity were refined and val
Today, the use of information technology and software applications in organizations is inevitable. To maintain competitiveness, companies need to define different projects in IT areas and also need to keep the risk level of the defined projects at an acceptable level. In this paper, it has been tried to develop a framework for assessing the readiness of IT projects by using the relationship between concepts of business continuity management and project management. Therefore, by reviewing the literature on causes of delays and failure factors in IT projects, as well as interviews with some experts and business continuity consultants, essential criteria for delaying and failing IT projects are selected, and the impact of these criteria on eac
The customers’ perceived value is one of the important and basic parameters in marketing, because, through the value that the customer acquires, the level of customer loyalty and satisfaction of the purchase can be measured. There are several ways to calculate customers’ perceived value. Therefore, in this article, first, the methods of calculating customer value are introduced. Then, the Taguchi loss function is introduced and its usability is mentioned to calculate the customers’ perceived value. Next, by equating the Taguchi loss function in the sales concept, a new formula for calculating the customers’ perceived value and the company’s perceived value is presented. One of the main results of the proposed model is that the pro