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Article
Publication date: 17 September 2024

Mohammad Yaghtin and Youness Javid

The purpose of this research is to address the complex multiobjective unrelated parallel machine scheduling problem with real-world constraints, including sequence-dependent setup…

46

Abstract

Purpose

The purpose of this research is to address the complex multiobjective unrelated parallel machine scheduling problem with real-world constraints, including sequence-dependent setup times and periodic machine maintenance. The primary goal is to minimize total tardiness, earliness and total completion times simultaneously. This study aims to provide effective solution methods, including a Mixed-Integer Programming (MIP) model, an Epsilon-constraint method and the Nondominated Sorting Genetic Algorithm (NSGA-II), to offer valuable insights into solving large-sized instances of this challenging problem.

Design/methodology/approach

This study addresses a multiobjective unrelated parallel machine scheduling problem with sequence-dependent setup times and periodic machine maintenance activities. An MIP model is introduced to formulate the problem, and an Epsilon-constraint method is applied for a solution. To handle the NP-hard nature of the problem for larger instances, an NSGA-II is developed. The research involves the creation of 45 problem instances for computational experiments, which evaluate the performance of the algorithms in terms of proposed measures.

Findings

The research findings demonstrate the effectiveness of the proposed solution approaches for the multiobjective unrelated parallel machine scheduling problem. Computational experiments on 45 generated problem instances reveal that the NSGA-II algorithm outperforms the Epsilon-constraint method, particularly for larger instances. The algorithms successfully minimize total tardiness, earliness and total completion times, showcasing their practical applicability and efficiency in handling real-world scheduling scenarios.

Originality/value

This study contributes original value by addressing a complex multiobjective unrelated parallel machine scheduling problem with real-world constraints, including sequence-dependent setup times and periodic machine maintenance activities. The introduction of an MIP model, the application of the Epsilon-constraint method and the development of the NSGA-II algorithm offer innovative approaches to solving this NP-hard problem. The research provides valuable insights into efficient scheduling methods applicable in various industries, enhancing decision-making processes and operational efficiency.

Details

Journal of Modelling in Management, vol. 20 no. 2
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 11 March 2025

Linlin Xie, Ziyi Yu and Xianbo Zhao

To meet an ever - increasing urbanization demand, urban complex projects have evolved to form the development type of HOPSCA (an acronym for Hotel, Office, Park, Shopping mall…

1

Abstract

Purpose

To meet an ever - increasing urbanization demand, urban complex projects have evolved to form the development type of HOPSCA (an acronym for Hotel, Office, Park, Shopping mall, Convention and Apartment, representing a new type of urban complex). Its integrated functions, complex structures and superior siting expose HOPSCA’s construction phase to higher and more uncertain safety risks. Despite this, research on construction safety risks of large urban complexes is scarce. This study addresses this by introducing the interval ordinal priority approach (Interval-OPA) method to build a safety risk assessment model for HOPSCA, targeting its construction safety risk management.

Design/methodology/approach

This study initially identifies risk factors via literature review, field survey and three Delphi method rounds, forming a construction safety risk list of HOPSCA projects. Then, Interval-OPA is employed to create a safety risk assessment model, and its validity confirmed through a representative case study of an ongoing project. Lastly, uncertainty and weighting analyses of the model results identify the most probable major construction accidents, safety risk factors and targeted prevention strategies for the urban complex projects construction phase.

Findings

The findings reveal that (1) there are 33 construction safety risks in HOPSCA’s construction phase across 4 aspects: “man-machine-environment-management”; (2) object strikes are the most prominent of accidents and need to be prioritized for prevention, especially when managerial risks are arising; (3) falls from heights are evaluated with the highest level of uncertainty, which represents an ambiguous area for safety management and (4) the result of the risk evaluation shows that there are nine critical construction safety risk factors for the HOPSCA project and that most of the management-level risk factors have high uncertainty. This study explores and provides effective measures to combat these factors.

Originality/value

This study innovatively applies the Interval-OPA method to risk assessment, offering a fitting method for evaluating the HOPSCA project’s construction safety risks and accidents. The model aids decision-makers in appropriate risk classification and selection of scientific risk prevention strategies, enhances HOPSCA’s construction safety management system and even benefits all under-construction projects, promoting the construction industry’s sustainable development.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 7 March 2025

Roushan Roy, Krishnendu Shaw, Shivam Mishra and Ravi Shankar

The uncertain supply chain network design (SCND) problem, considering suppliers’ environmental, social and governance (ESG) ratings, has been infrequently addressed in the…

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Abstract

Purpose

The uncertain supply chain network design (SCND) problem, considering suppliers’ environmental, social and governance (ESG) ratings, has been infrequently addressed in the literature. Looking at the importance of ESG ratings in achieving supply chain sustainability, this study aims to fill the gap by incorporating supplier ESG factors into SCND within an uncertain environment.

Design/methodology/approach

This paper presents a multi-period, multi product SCND model that integrates ESG factors and accounts for uncertainties in supply and production capacities. The model seeks to minimize total operational costs by determining the optimal selection of plant and warehouse locations across multiple time periods. Uncertainties in supply and production capacities are managed through a chance-constrained programming approach with right-hand side stochasticity. A Lagrangian relaxation-based heuristic method is applied to address the NP-hard nature of the problem.

Findings

The efficacy of the proposed model is illustrated through a numerical example, demonstrating its capability to optimize material flows across the supply chain under uncertain conditions. The model simultaneously considers economic and ESG factors in procurement decisions. A sensitivity analysis is conducted to examine different operational scenarios and their implications on the model’s outcomes.

Originality/value

To the best of the authors’ knowledge, this study is one of the first to integrate ESG factors into SCND under uncertainty. The proposed model provides a robust framework for decision-makers to optimize supply chain operations while considering both economic and ESG objectives in an uncertain environment.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 13 January 2025

Conor Brian Hamill, Raad Khraishi, Simona Gherghel, Jerrard Lawrence, Salvatore Mercuri, Ramin Okhrati and Greig Alan Cowan

Interest-free promotions are a prevalent strategy employed by credit card lenders to attract new customers, yet the research exploring their effects on both consumers and lenders…

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Abstract

Purpose

Interest-free promotions are a prevalent strategy employed by credit card lenders to attract new customers, yet the research exploring their effects on both consumers and lenders remains relatively sparse. Selecting an optimal promotion strategy is intricate, involving the determination of an interest-free period duration and promotion-availability window, all within the context of market dynamics and complex consumer behaviour. The purpose of this study is to develop an agent-based model to assist with determining optimal promotion strategies.

Design/methodology/approach

In this paper, we introduce a novel agent-based model that facilitates the exploration of various credit card promotions under diverse market scenarios.

Findings

Our experiments reveal that, in the absence of competitor promotions, lender profit is maximised by an interest-free duration of approximately 12 months, while market share is maximised by offering the longest duration possible. In the context of concurrent interest-free promotions, we identify that the optimal lender strategy entails offering a more competitive interest-free period and a rapid response to competing promotional offers. Notably, a delay of three months in responding to a rival promotion corresponds to a 2.4% relative decline in income.

Originality/value

Our model consists of multiple lender and consumer agents that interact through a novel set of mechanisms based on well-studied consumer behaviours. Distinct from previous works, our model adopts a realistic billing cycle with a focus on interest charged to revolving accounts and supports a range of lender promotion strategies. It is calibrated to historical benchmarks and validated against both stylised facts and time-series data, ensuring a realistic reflection of market behaviour, which has been neglected in prior studies.

Details

International Journal of Bank Marketing, vol. 43 no. 4
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 23 January 2024

Chong Wu, Zijiao Zhang, Chang Liu and Yiwen Zhang

This paper aims to propose a bed and breakfast (B&B) recommendation method that takes into account review timeliness and user preferences to help consumers choose the most…

86

Abstract

Purpose

This paper aims to propose a bed and breakfast (B&B) recommendation method that takes into account review timeliness and user preferences to help consumers choose the most satisfactory B&B.

Design/methodology/approach

This paper proposes a B&B ranking method based on improved intuitionistic fuzzy sets. First, text mining and cluster analysis are combined to identify the concerns of consumers and construct an attribute set. Second, an attribute-level-based text sentiment analysis is established. The authors propose an improved intuitionistic fuzzy set, which is more in line with the actual situation of sentiment analysis of online reviews. Next, subjective-objective combinatorial assignments are applied, considering the consumers’ preferences. Finally, the vlsekriterijumska optimizacija i kompromisno resenje (VIKOR) algorithm, based on the improved score function, is advised to evaluate B&Bs.

Findings

A case study is presented to illustrate the use of the proposed method. Comparative analysis with other multi-attribute decision-making (MADM) methods proves the effectiveness and superiority of the VIKOR algorithm based on the improved intuitionistic fuzzy sets proposed in this paper.

Originality/value

Proposing a B&B recommendation method that takes into account review timeliness and user customization is the innovation of this paper. In this approach, the authors propose improved intuitionistic fuzzy sets. Compared with the traditional intuitionistic fuzzy set, the improved intuitionistic fuzzy set increases the abstention membership, which is more in line with the actual situation of attribute-level sentiment analysis of online reviews.

Details

Kybernetes, vol. 54 no. 4
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 15 November 2024

Siqi Xiang and Xiaohua Xiang

Performance optimization algorithms based on node attributes are of great importance for sharding blockchain systems. Currently, existing studies on blockchain sharding algorithms…

8

Abstract

Purpose

Performance optimization algorithms based on node attributes are of great importance for sharding blockchain systems. Currently, existing studies on blockchain sharding algorithms consider only random selection sharding strategies. However, the random selection strategy does not perfectly utilize the performance of a node to break the bottleneck of blockchain performance.

Design/methodology/approach

This paper proposes a blockchain sharding algorithm called TOPSIS Optimization Sharding System (TOSS), which is based on entropy weight method, relative Euclidean distance and the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). It defines a multi-attribute matrix to assess node performance and applies TOPSIS for scoring nodes. Then, an algorithm based on the TOPSIS method is proposed to calculate the performance score of each data node. In addition, an entropy weighting method is introduced to obtain the weights of each attribute to balance the impact of dimensional differences of attributes on the attribute weights. Nodes are ranked by composite scores to guide partitioning.

Findings

The effectiveness of the proposed algorithm in this paper is verified by comparing it with various comparative algorithms. The experimental results show that the TOSS algorithm outperforms the comparison algorithms in terms of performance improvement for the blockchain system, and the throughput metrics are improved by about 20% in comparison.

Originality/value

This study introduces a novel approach to blockchain sharding by incorporating the entropy weight method and relative Euclidean distance TOPSIS into the sharding process. This approach allows for a more effective utilization of node performance attributes, leading to significant improvements in system throughput and overall performance, addressing the limitations of the random selection strategy commonly used in existing algorithms.

Details

International Journal of Intelligent Computing and Cybernetics, vol. 18 no. 1
Type: Research Article
ISSN: 1756-378X

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Article
Publication date: 4 March 2025

Anh Tram Luong

In recent years, both G7 and BRICS countries have witnessed a noticeable increase in economic policy uncertainty, prompting concerns about its ramifications on global financial…

20

Abstract

Purpose

In recent years, both G7 and BRICS countries have witnessed a noticeable increase in economic policy uncertainty, prompting concerns about its ramifications on global financial markets. This study aims to investigate how economic policy uncertainty influences the transmission of investor sentiment within the G7 and BRICS groups.

Design/methodology/approach

Employing the asymmetric time-varying parameter-vector autoregression model and the quantile regression techniques, this research analyzes the interconnectedness of investor sentiment within the G7 and BRICS groups and the impact of geopolitical risks on these spillovers.

Findings

Investor sentiment within the G7 group exhibits higher interconnectedness levels than the BRICS group. However, in both groups, “negative biases” exist in sentiment transmission, as indicated by elevated total connectedness indices during pessimistic periods. Furthermore, larger markets, such as the UK, the United States and Russia, tend to act as net transmitters within these networks. The magnitude of sentiment spillover among investors intensifies during periods of heightened economic policy uncertainty, particularly during downturns in sentiment and at higher quantiles of investor sentiment interconnectedness.

Originality/value

These findings offer several implications for economic policymakers amidst the globalization of financial markets. This research provides novel insights into the asymmetric transmission of investor sentiment under economic policy uncertainty, highlighting the differing roles of larger markets and the varying degrees of sentiment interconnectedness between the G7 and BRICS groups.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 14 July 2023

Yang Gao, Wanqi Zheng and Yaojun Wang

This study aims to explore the risk spillover effects among different sectors of the Chinese stock market after the outbreak of COVID-19 from both Internet sentiment and price…

216

Abstract

Purpose

This study aims to explore the risk spillover effects among different sectors of the Chinese stock market after the outbreak of COVID-19 from both Internet sentiment and price fluctuations.

Design/methodology/approach

The authors develop four indicators used for risk contagion analysis, including Internet investors and news sentiments constructed by the FinBERT model, together with realized and jump volatilities yielded by high-frequency data. The authors also apply the time-varying parameter vector autoregressive (TVP-VAR) model-based and the tail-based connectedness framework to investigate the interdependence of tail risk during catastrophic events.

Findings

The empirical analysis provides meaningful results related to the COVID-19 pandemic, stock market conditions and tail behavior. The results show that after the outbreak of COVID-19, the connectivity between risk spillovers in China's stock market has grown, indicating the increased instability of the connected system and enhanced connectivity in the tail. The changes in network structure during COVID-19 pandemic are not only reflected by the increased spillover connectivity but also by the closer relationships between some industries. The authors also found that major public events could significantly impact total connectedness. In addition, spillovers and network structures vary with market conditions and tend to exhibit a highly connected network structure during extreme market status.

Originality/value

The results confirm the connectivity between sentiments and volatilities spillovers in China's stock market, especially in the tails. The conclusion further expands the practical application and theoretical framework of behavioral finance and also lays a theoretical basis for investors to focus on the practical application of volatility prediction and risk management across stock sectors.

Details

China Finance Review International, vol. 15 no. 1
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 4 March 2025

Xuan zhao and Rui lu

Linear projects often involve lengthy construction periods, necessitating dynamic adjustments to the plan. Completely rescheduling remaining activities every time can lead to…

5

Abstract

Purpose

Linear projects often involve lengthy construction periods, necessitating dynamic adjustments to the plan. Completely rescheduling remaining activities every time can lead to unnecessary time and cost wastage and significant deviations in resource supply. To address these issues, this paper proposes a dynamic scheduling method designed to effectively manage both time and cost during construction projects.

Design/methodology/approach

Determining the rescheduling frequency through a hybrid driving strategy and buffer mechanism, introducing rolling window technology to determine the scope of local rescheduling and constructing a local rescheduling model under the constraints of time and cost deviation with the objective of minimizing the cost. Combined decision-making for construction and rushing modes constrained by multiple construction scenarios. Opposite learning is introduced to optimize the hybrid algorithm solution.

Findings

Arithmetic examples and cases confirm the model’s feasibility and applicability. The results indicate that (1) continuous rescheduling throughout project construction is essential and effective and (2) a well-structured buffer mechanism can prevent redundant rescheduling and enhance overall control of cost and schedule deviations.

Originality/value

This study introduces an innovative dynamic scheduling framework for linear engineering, offering a method for effectively controlling schedule deviations during construction. The developed model enhances rescheduling efficiency and introduces a combined quantization strategy to increase the model’s applicability to linear engineering. This model emerges as a promising decision support tool, facilitating the implementation of sustainable construction scheduling practices.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 10 February 2025

Hassan Yousefi and Iradj Mahmoudzadeh Kani

The purpose of this study is to (1) improve the spectral features of the second-order uniformly non-oscillatory (UNO) slope limiters, and (2) numerical simulation of the…

7

Abstract

Purpose

The purpose of this study is to (1) improve the spectral features of the second-order uniformly non-oscillatory (UNO) slope limiters, and (2) numerical simulation of the unified-form of generalized fully-coupled saturated thermo-poro-elastic systems in the axisymmetric cylindrical coordinate via cell-adaptive Kurganov-Tadmor (KT) central high-resolution scheme using the UNO limiters.

Design/methodology/approach

(1) The spectral features of the UNO limiter are improved by compression-adaptive MINMOD (MM) limiters, achieved by blending different types of MM limiters to achieve less numerical dissipation and dispersion. These blended MM limiters preserve the total variation diminishing (TVD) feature over non-uniform non-centered cells. Also, the spectral features of the central schemes using the UNO limiters are investigated. (2) For the thermo-poro-elastic problem, corresponding first-order hyperbolic system is provided, including flux, source, diffusion and nonlinear terms. Where, there are different interacting components in the source and flux terms. The nonlinear terms are also considered by the Picard-like linearization concept.

Findings

Compression-adaptive UNO limiters would be stable over adapted cells with centered and non-centered cells. The benchmarks confirm that both spectral features and numerical accuracy are improved. For the generalized thermo-poro-elastic problem, corresponding responses including the shock waves can properly be captured.

Originality/value

Studying heat effects (e.g. hot fluid or freezing) and explosions on tunnels. Also, the UNO limiters could be used for simulations of various systems of conservation laws.

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