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Article
Publication date: 13 February 2017

Seong-Jong Joo, Hokey Min and Carlo Smith

The purpose of this paper is to help shippers determine a negotiation yardstick for transportation price and formulate wise transportation outsourcing strategies by examining the…

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Abstract

Purpose

The purpose of this paper is to help shippers determine a negotiation yardstick for transportation price and formulate wise transportation outsourcing strategies by examining the presence of freight rate differentials for shippers and identifying their main causes. This paper also develops a framework for benchmarking freight rates based on the actual data.

Design/methodology/approach

This paper proposes an additive dummy regression model to determine a statistical significance in shipping charges between different shippers. Unlike the traditional least square analysis, the proposed model is designed to avoid a biased assessment of the impact of an explanatory variable.

Findings

Through a series of empirical data analysis and hypothesis tests, the authors discovered that the fixed portion (minimum base charge) of shipping charges differed depending on the shipper’ individual contract, while the variable portion (fuel or accessorial charge) of shipping charges remained the same regardless of the shipper’s individual contract. As such, shippers who are unaware of flexible but unpredictable transportation pricing practices and unprepared for freight rate negotiation can suffer from higher shipping costs as compared to their peers. Thus, the authors conclude that the success of transportation outsourcing, carrier selection, and freight rate negotiation strategies tends to rest on the shipper’s ability to understand transportation cost structures and then determine the benchmark freight rate considered “fair” and “reasonable” for a given service.

Originality/value

This paper is one of the first to examine shipping cost differentials between different shippers and determine what causes such differentials. In doing so, this paper attempted to assess the potential impact of freight rate negotiation and carrier selection strategies on shippers’ transportation costs in current deregulatory environments where shippers were given a greater freedom to negotiate freight rates with carriers and an increased opportunity to save their transportation costs.

Details

The International Journal of Logistics Management, vol. 28 no. 1
Type: Research Article
ISSN: 0957-4093

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Article
Publication date: 20 September 2019

Hongmei Liu and Tat Leung Chan

The purpose of this paper is to study the evolution and growth of aerosol particles in a turbulent planar jet by using the newly developed large eddy simulation…

191

Abstract

Purpose

The purpose of this paper is to study the evolution and growth of aerosol particles in a turbulent planar jet by using the newly developed large eddy simulation (LES)-differentially weighted operator splitting Monte Carlo (DWOSMC) method.

Design/methodology/approach

The DWOSMC method is coupled with LES for the numerical simulation of aerosol dynamics in turbulent flows.

Findings

Firstly, the newly developed and coupled LES-DWOSMC method is verified by the results obtained from a direct numerical simulation-sectional method (DNS-SM) for coagulation occurring in a turbulent planar jet from available literature. Then, the effects of jet temperature and Reynolds number on the evolution of time-averaged mean particle diameter, normalized particle number concentration and particle size distributions (PSDs) are studied numerically on both coagulation and condensation processes. The jet temperature and Reynolds number are shown to be two important parameters that can be used to control the evolution and pattern of PSD in an aerosol reactor.

Originality/value

The coupling between the Monte Carlo method and turbulent flow still encounters many technical difficulties. In addition, the relationship between turbulence, particle properties and collision kernels of aerosol dynamics is not yet well understood due to the theoretical limitations and experimental difficulties. In the present study, the developed and coupled LES-DWOSMC method is capable of solving the aerosol dynamics in turbulent flows.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 30 no. 2
Type: Research Article
ISSN: 0961-5539

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Article
Publication date: 1 September 2005

François Fulconis and Gilles Paché

The majority of studies on supply chain management (SCM) emphasize the importance of cooperative relationships for improving the integration of business processes into a supply…

108

Abstract

The majority of studies on supply chain management (SCM) emphasize the importance of cooperative relationships for improving the integration of business processes into a supply chain. It seems accepted that SCM will be a source of competitive advantage if, and only if, firms that participate in it formalize a strategic partnership between each other beforehand. This article questions whether this really is the case, given that the corporate cultures currently in place are largely founded on a tradition of adversarial relationships, the creation of large groups and the development of vertical concentrations. SCM could, in contrast, in such a case be the catalyst for powerful future strategic partnerships that could gently break arm’s‐length competition.

Details

Competitiveness Review: An International Business Journal, vol. 15 no. 2
Type: Research Article
ISSN: 1059-5422

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Article
Publication date: 17 May 2022

A.Y.M. Atiquil Islam, Muhammad Rafi and Khurshid Ahmad

This study aims to assess whether technological incentives inspire communities in the process of digital inclusion. The factors analyzed by the authors assess five dimensions…

750

Abstract

Purpose

This study aims to assess whether technological incentives inspire communities in the process of digital inclusion. The factors analyzed by the authors assess five dimensions: technology incentives, technology utilization, searching skills, social integration, and capabilities.

Design/methodology/approach

Data were collected from 329 respondents in 14 public libraries and analyzed using structural equation modeling to validate the proposed research model and its relationships with the factors the authors analyzed.

Findings

The results showed that technological incentives significantly impact on technology utilization, searching skills, social integration, and capabilities to support community digital inclusion in Pakistan.

Practical implications

Technological incentives to the community will lead to the improvement of network technology for things like online taxation, banking transactions, social integration, participation in government, and modern health and education benefits. In addition, technological incentives will also enhance information literacy and digital access, helping people improve cognitive skills and critical thinking and also helping to develop skills.

Originality/value

This research is based on raw data first collected from various people with different opinions from the Khyber Pakhtunkhwa public libraries. This study was conducted to gain a deeper understanding of the overall situation related to the use of technology in Pakistan and the complications involved.

Details

Library Hi Tech, vol. 42 no. 3
Type: Research Article
ISSN: 0737-8831

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Book part
Publication date: 19 November 2014

Garland Durham and John Geweke

Massively parallel desktop computing capabilities now well within the reach of individual academics modify the environment for posterior simulation in fundamental and potentially…

Abstract

Massively parallel desktop computing capabilities now well within the reach of individual academics modify the environment for posterior simulation in fundamental and potentially quite advantageous ways. But to fully exploit these benefits algorithms that conform to parallel computing environments are needed. This paper presents a sequential posterior simulator designed to operate efficiently in this context. The simulator makes fewer analytical and programming demands on investigators, and is faster, more reliable, and more complete than conventional posterior simulators. The paper extends existing sequential Monte Carlo methods and theory to provide a thorough and practical foundation for sequential posterior simulation that is well suited to massively parallel computing environments. It provides detailed recommendations on implementation, yielding an algorithm that requires only code for simulation from the prior and evaluation of prior and data densities and works well in a variety of applications representative of serious empirical work in economics and finance. The algorithm facilitates Bayesian model comparison by producing marginal likelihood approximations of unprecedented accuracy as an incidental by-product, is robust to pathological posterior distributions, and provides estimates of numerical standard error and relative numerical efficiency intrinsically. The paper concludes with an application that illustrates the potential of these simulators for applied Bayesian inference.

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Book part
Publication date: 27 June 2023

Richa Srivastava and M A Sanjeev

Several inferential procedures are advocated in the literature. The most commonly used techniques are the frequentist and the Bayesian inferential procedures. Bayesian methods…

Abstract

Several inferential procedures are advocated in the literature. The most commonly used techniques are the frequentist and the Bayesian inferential procedures. Bayesian methods afford inferences based on small data sets and are especially useful in studies with limited data availability. Bayesian approaches also help incorporate prior knowledge, especially subjective knowledge, into predictions. Considering the increasing difficulty in data acquisition, the application of Bayesian techniques can be hugely beneficial to managers, especially in analysing limited data situations like a study of expert opinion. Another factor constraining the broader application of Bayesian statistics in business was computational power requirements and the availability of appropriate analytical tools. However, with the increase in computational power, connectivity and the development of appropriate software programmes, Bayesian applications have become more attractive. This chapter attempts to unravel the applications of the Bayesian inferential procedure in marketing management.

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Article
Publication date: 23 October 2023

Adam Biggs and Joseph Hamilton

Evaluating warfighter lethality is a critical aspect of military performance. Raw metrics such as marksmanship speed and accuracy can provide some insight, yet interpreting subtle…

601

Abstract

Purpose

Evaluating warfighter lethality is a critical aspect of military performance. Raw metrics such as marksmanship speed and accuracy can provide some insight, yet interpreting subtle differences can be challenging. For example, is a speed difference of 300 milliseconds more important than a 10% accuracy difference on the same drill? Marksmanship evaluations must have objective methods to differentiate between critical factors while maintaining a holistic view of human performance.

Design/methodology/approach

Monte Carlo simulations are one method to circumvent speed/accuracy trade-offs within marksmanship evaluations. They can accommodate both speed and accuracy implications simultaneously without needing to hold one constant for the sake of the other. Moreover, Monte Carlo simulations can incorporate variability as a key element of performance. This approach thus allows analysts to determine consistency of performance expectations when projecting future outcomes.

Findings

The review divides outcomes into both theoretical overview and practical implication sections. Each aspect of the Monte Carlo simulation can be addressed separately, reviewed and then incorporated as a potential component of small arms combat modeling. This application allows for new human performance practitioners to more quickly adopt the method for different applications.

Originality/value

Performance implications are often presented as inferential statistics. By using the Monte Carlo simulations, practitioners can present outcomes in terms of lethality. This method should help convey the impact of any marksmanship evaluation to senior leadership better than current inferential statistics, such as effect size measures.

Details

Journal of Defense Analytics and Logistics, vol. 7 no. 2
Type: Research Article
ISSN: 2399-6439

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Article
Publication date: 29 September 2022

Fei Wang and Tat Leung Chan

The purpose of this study is to present a newly proposed and developed sorting algorithm-based merging weighted fraction Monte Carlo (SAMWFMC) method for solving the population…

158

Abstract

Purpose

The purpose of this study is to present a newly proposed and developed sorting algorithm-based merging weighted fraction Monte Carlo (SAMWFMC) method for solving the population balance equation for the weighted fraction coagulation process in aerosol dynamics with high computational accuracy and efficiency.

Design/methodology/approach

In the new SAMWFMC method, the jump Markov process is constructed as the weighted fraction Monte Carlo (WFMC) method (Jiang and Chan, 2021) with a fraction function. Both adjustable and constant fraction functions are used to validate the computational accuracy and efficiency. A new merging scheme is also proposed to ensure a constant-number and constant-volume scheme.

Findings

The new SAMWFMC method is fully validated by comparing with existing analytical solutions for six benchmark test cases. The numerical results obtained from the SAMWFMC method with both adjustable and constant fraction functions show excellent agreement with the analytical solutions and low stochastic errors. Compared with the WFMC method (Jiang and Chan, 2021), the SAMWFMC method can significantly reduce the stochastic error in the total particle number concentration without increasing the stochastic errors in high-order moments of the particle size distribution at only slightly higher computational cost.

Originality/value

The WFMC method (Jiang and Chan, 2021) has a stringent restriction on the fraction functions, making few fraction functions applicable to the WFMC method except for several specifically selected adjustable fraction functions, while the stochastic error in the total particle number concentration is considerably large. The newly developed SAMWFMC method shows significant improvement and advantage in dealing with weighted fraction coagulation process in aerosol dynamics and provides an excellent potential to deal with various fraction functions with higher computational accuracy and efficiency.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 33 no. 2
Type: Research Article
ISSN: 0961-5539

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Book part
Publication date: 13 December 2013

Todd E. Clark and Michael W. McCracken

This article surveys recent developments in the evaluation of point and density forecasts in the context of forecasts made by vector autoregressions. Specific emphasis is placed…

Abstract

This article surveys recent developments in the evaluation of point and density forecasts in the context of forecasts made by vector autoregressions. Specific emphasis is placed on highlighting those parts of the existing literature that are applicable to direct multistep forecasts and those parts that are applicable to iterated multistep forecasts. This literature includes advancements in the evaluation of forecasts in population (based on true, unknown model coefficients) and the evaluation of forecasts in the finite sample (based on estimated model coefficients). The article then examines in Monte Carlo experiments the finite-sample properties of some tests of equal forecast accuracy, focusing on the comparison of VAR forecasts to AR forecasts. These experiments show the tests to behave as should be expected given the theory. For example, using critical values obtained by bootstrap methods, tests of equal accuracy in population have empirical size about equal to nominal size.

Details

VAR Models in Macroeconomics – New Developments and Applications: Essays in Honor of Christopher A. Sims
Type: Book
ISBN: 978-1-78190-752-8

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Book part
Publication date: 16 December 2017

Riccardo Bellofiore and Scott Carter

Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers to some…

Abstract

Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers to some of these developments. First and perhaps foremost is the fact that as of September 2016 Sraffa’s archival material has been uploaded onto the website of the Wren Library, Trinity College, Cambridge University, as digital colour images; this chapter introduces readers to the history of these events. This history provides sharp relief on the extant debates over the role of the archival material in leading to the final publication of Production of Commodities by Means of Commodities, and readers are provided a brief sketch of these matters. The varied nature of Sraffa scholarship is demonstrated by the different aspects of Sraffa’s intellectual legacy which are developed and discussed in the various entries of our Symposium. The conclusion is reached that we are on the cusp of an exciting phase change of tremendous potential in Sraffa scholarship.

Details

Including a Symposium on New Directions in Sraffa Scholarship
Type: Book
ISBN: 978-1-78714-539-9

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