We formulate a multi‐attribute decision model for preventive replacement of a “magnetic sealing head” in a soft‐drink producing factory in the Kingdom of Saudi Arabia. In case of…
Abstract
We formulate a multi‐attribute decision model for preventive replacement of a “magnetic sealing head” in a soft‐drink producing factory in the Kingdom of Saudi Arabia. In case of failure of this part, the opportunity cost (for production losses) is very important, as the entire production line will be idle. We determine in a first case the replacement policy that minimizes the total expected unit cost of replacement (preventive and corrective). Next, we determine the optimal policy that maximizes the expected multi‐attribute utility of the decision‐maker in the factory. Four attributes are considered in the replacement problem, namely cost, quality, labor productivity, and cash flow availability. The optimal policy in each case outperforms by far the one applied in the plant, which turns out to be costly and inefficient with respect to the utility of the decision‐maker.
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Dhafer Saidane and Sana Ben Abdallah
The purpose of this chapter is to synthesise research on the concept of sustainable development in finance. Indeed, since the mid-1990s under the leadership of the United Nations…
Abstract
The purpose of this chapter is to synthesise research on the concept of sustainable development in finance. Indeed, since the mid-1990s under the leadership of the United Nations and various non-governmental organisations, sustainable development has experienced an unprecedented boom that affects many areas. This synthesis is organised around two main themes: sustainable finance and fintech/digitalisation.
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Dragana Todovic, Dragana Makajic-Nikolic, Milica Kostic-Stankovic and Milan Martic
The purpose of this paper is to develop a methodology for automatically determining the optimal allocation of police officers in accordance with the division and organization of…
Abstract
Purpose
The purpose of this paper is to develop a methodology for automatically determining the optimal allocation of police officers in accordance with the division and organization of labor.
Design/methodology/approach
The problem is defined as the problem of the goal programming for which the mathematical model of mixed integer programming was developed. In modeling of the scheduling problem the approach police officer/scheme, based on predefined scheduling patterns, was used. The approach is applied to real data of a police station in Bosnia and Herzegovina.
Findings
This study indicates that the determination of monthly scheduling policemen is complex and challenging problem, which is usually performed without the aid of software (self-rostering), and that it can be significantly facilitated by the introduction of scheduling optimization approach.
Research limitations/implications
The developed mathematical model, in its current form, can directly be applied only to the scheduling of police officers at police stations which have the same or a similar organization of work.
Practical implications
Optimization of scheduling significantly reduces the time to obtain a monthly schedule. In addition, it allows the police stations to experiment with different forms of organization work of police officers and to obtain an optimal schedule for each of them in a short time.
Originality/value
The problem of optimal scheduling of employees is often resolved in other fields. To the authors knowledge, this is the first time that the approach of goal programming is applied in the field of policing.
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Malte L. Peters and Stephan Zelewski
This paper seeks to develop a model for the assignment of employees to workplaces. Assignment methods are of high relevance in practice because employees should be assigned to…
Abstract
Purpose
This paper seeks to develop a model for the assignment of employees to workplaces. Assignment methods are of high relevance in practice because employees should be assigned to workplaces according to their competences and preferences to ensure that motivated employees carry out tasks effectively and efficiently.
Design/methodology/approach
Two goal programming models are introduced with inputs and valuations using the analytic hierarchy process.
Findings
The two goal programming models for the assignment of employees to workplaces, which take into account both employee competences and preferences as well as workplace competence requirements and attributes, seem to be effective in helping to arrive at an optimal assignment decision.
Research limitations/implications
In practice, one major problem is that the input data for the goal programming models are not updated regularly. Thus, the documentation of the competence profiles and the preferences of the employees might be out of date or incomplete.
Originality/value
The development of the two goal programming models which could be applied immediately in practical competence management is what makes the work valuable and addresses a gap in the modelling of personnel assignment methodologies.
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Jing Zhang, Shifei Shen and Rui Yang
The purpose of this paper is to focus on resource allocation and information disclosure policy for defending multiple targets against intentional attacks. The intentional attacks…
Abstract
Purpose
The purpose of this paper is to focus on resource allocation and information disclosure policy for defending multiple targets against intentional attacks. The intentional attacks, like terrorism events, probably cause great losses and fatalities. Attackers and defenders usually make decisions based on incomplete information. Adaptive attacking and defending strategies are considered, to study how both sides make more effective decisions according to previous fights.
Design/methodology/approach
A stochastic game‐theoretic approach is proposed for modeling attacker‐defender conflicts. Attackers and defenders are supposed both to be strategic decision makers and partially aware of adversary's information. Adaptive strategies are compared with different inflexible strategies in a fortification‐patrol problem, where the fortification affects the security vulnerability of targets and the patrol indicates the defensive signal.
Findings
The result shows that the intentional risk would be elevated by adaptive attack strategies. An inflexible defending strategy probably fails when facing uncertainties of adversary. It is shown that the optimal response of defenders is to adjust defending strategies by learning from previous games and assessing behaviors of adversaries to minimize the expected loss.
Originality/value
This paper explores how adaptive strategies affect attacker‐defender conflicts. The key issue is defense allocation and information disclosure policy for mitigation of intentional threats. Attackers and defenders can adjust their strategies by learning from previous fights, and the strategic adjustment of both sides may be asynchronous.
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Andi Rahadiyan Wijaya, Jan Lundberg and Uday Kumar
A common model in the age‐based replacement policy is based on the cost attribute and assumes that the model parameters are known. In practice, the model parameters are estimated…
Abstract
Purpose
A common model in the age‐based replacement policy is based on the cost attribute and assumes that the model parameters are known. In practice, the model parameters are estimated from limited historical data, which brings uncertainty into the model. Moreover, minimizing the cost is not the only goal of the maintenance activity. From the decision maker's point of view, the multi‐attributes and the uncertainty of the age‐based replacement policy are two important aspects to take into consideration in the decision‐making process. The purpose of this paper is to propose an approach for a robust‐optimum multi‐attribute age‐based replacement policy.
Design/methodology/approach
The proposed approach is based on a combination of the multi‐attribute age‐based replacement policy and robust design problem philosophy. A case study is provided for illustrating the application of the proposed method.
Findings
It is found that the proposed approach can determine the interval time for preventive replacement that provides a robust and optimum solution for a multi‐attribute age‐based replacement policy.
Practical implications
The proposed approach can be used by the decision maker in determining a robust‐optimum interval time for preventive replacement of multi‐attribute age‐based replacement, a time interval which is not only optimum, but also robust.
Originality/value
This paper presents an approach that simultaneously considers the multi‐attributes and the uncertainty in the age‐based replacement policy which is, to date, not available.
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The purpose of this paper is to radically redesign the methodology of plant maintenance and develop a three phase framework. A framework for effective and continuous maintenance…
Abstract
Purpose
The purpose of this paper is to radically redesign the methodology of plant maintenance and develop a three phase framework. A framework for effective and continuous maintenance improvement is presented.
Design/methodology/approach
The first phase determines the key performance area, the second phase makes decision about the appropriate policy selection and third phase aims to generate capability in an organization to compete at world level. A case is presented here, of the implementation of a “maintenance reengineering framework”, developed with the aid of certain maintenance components.
Findings
The maintenance reengineering framework, when implemented, proved successful with a more than 90 per cent rise in production rate.
Research limitations/implications
The paper contributes some guidelines which can be helpful in making decision about the selection of maintenance policy and for the achievement of world‐class effectiveness.
Practical implications
Maintenance reengineering (MR) framework includes the core concepts of preventive maintenance practices, total maintenance management and system perspectives of maintenance. Its implementation goes through three phases from identification of key performance area, via suitable maintenance policy selection to generating the capability for world‐class effectiveness. The experience of this pilot implementation in a cement company in India suggested the feasibility of this framework in elevating the performance of maintenance management.
Originality/value
This article offers a framework that addresses research on maintenance reengineering. It attempts to establish a relationship among the components of maintenance, which can bring potential benefits to the corporations of similar operations and nature.
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C.A.V. Cavalcante and A.T. de Almeida
The purpose of this paper is to develop a model that permits more rational planning for preventive maintenance, by controlling failures in the specific context of equipment…
Abstract
Purpose
The purpose of this paper is to develop a model that permits more rational planning for preventive maintenance, by controlling failures in the specific context of equipment breakdown. Thus not only the cost and reliability parameters are dealt with, but also the peculiarities of different contexts in which maintenance activities occur. Furthermore, it aims to include Bayesian methodology in the procedure to overcome main difficulties in failure data.
Design/methodology/approach
A multi‐criteria decision‐aiding model capable of overcoming the two main difficulties related to preventive maintenance: establishing a replacement periodicity based on more than one criterion, and the ability to provide a solution in uncertainties situations, has been developed from adaptation of classical models. This model also uses Bayesian elements to address uncertainties during equipment failures.
Findings
The paper finds that in a preventive maintenance planning, as a multi‐criteria decision problem, different types of uncertainties may be identified, which may be categorized as external uncertainties and internal uncertainties. In the proposed model a division of procedures has been established, dealing with external uncertainties first, then the internal uncertainties related to the structure of the problem and analysis of the decision are addressed using the multi‐criteria decision‐making method PROMETHEE III that allows the amplification of the notion of indifference. In this way, a suitable structure to connect two types of uncertainties was structured.
Practical implications
The model will assist the decision‐maker in preventive maintenance planning to take uncertainties into account, seeing the alternatives that are closest, through an amplification of the notion of indifference provided by PROMETHEE III. Furthermore, in practice the proposed model have an impact on maintenance cost and reliability of production plant.
Originality/value
This paper proposes a multi‐criteria decision‐aiding model capable of overcoming the two main difficulties related to preventive maintenance: establishing a replacement periodicity based on more than one criterion; and the ability to provide a solution even when failure data are unavailable or incomplete.
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Mohamed Grida and Noha A. Mostafa
Smart contracts are self-executing computer programmes that have the potential to be used in several applications instead of traditional written contracts. With the recent rise of…
Abstract
Purpose
Smart contracts are self-executing computer programmes that have the potential to be used in several applications instead of traditional written contracts. With the recent rise of smart systems (e.g. Internet of things) and digital platforms (e.g. blockchain), smart contracts are gaining high interest in both business and academia. In this work, a framework for smart contracts was proposed with using reputation as the system currency, and conducts currency mining through fulfilling the physical commitments that are agreed upon.
Design/methodology/approach
A game theory model is developed to represent the proposed system, and then a system dynamics simulator is used to check the response of the blockchain with different sizes.
Findings
The numerical results showed that the proposed system could identify the takeover attacks and protect the blockchain from being controlled by an outsider. Another important finding is that careful setting of the maximum currency amount can improve the scalability of the blockchain and prevent the currency inflation.
Research limitations/implications
This work is proposed as a conceptual framework for supply chain 4.0. Future work will be dedicated to implement and experiment the proposed framework for other characteristics that may be encountered in the context of supply chain 4.0, such as different suppliers' tiers, different customer typologies and smart logistics applications, which may reveal other challenges and provide additional interesting insights.
Practical implications
By using the proposed framework, smart contracts and blockchains can be implemented to handle many issues in the context of operations and supply chain 4.0, especially in times of turbulence such as the COVID-19 global pandemic crisis.
Originality/value
This work emphasizes that smart contracts are not too smart to be applied in the context of supply chain 4.0. The proposed framework of smart contracts is expected to serve supply chain 4.0 by automating the knowledge work and enabling scenario planning through the game theory model. It will also improve online transparency and order processing in real-time through secured multitier connectivity. This can be applied in global supply chain functions backed with digitization, notably during the time of the pandemic, in which e-commerce and online shopping have changed the rules of the game.
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Thyago Celso Cavalcante Nepomuceno, Victor Diogho Heuer de Carvalho, Thiago Poleto and Ciro José Jardim Figueiredo
This article presents a methodological application of decision support with the purpose of identifying and better aligning sustainable banking strategies. Those strategies are…
Abstract
Purpose
This article presents a methodological application of decision support with the purpose of identifying and better aligning sustainable banking strategies. Those strategies are based on best practices declared by employees and conducted during efficient periods affecting sustainable production, the health quality of clients, the organization’s profitability and social impact on the local community across different sectors.
Design/methodology/approach
The approach involves a two-phase process: first, it employs directional data envelopment analysis (DEA) to benchmark knowledge based on employee opinions gathered through interviews to evaluate strategies related to banking services; then, using the best-worst method and ELECTRE outranking incorporating elements of fuzzy set theory based on an experienced decision-maker’s input, sustainable banking strategies are ranked according the different perspectives for leveraging outputs from the first step.
Findings
The outcomes yield a ranking of strategies, emphasizing the crucial role of technology in banking services while highlighting the need for more agile services to ensure customer satisfaction. This underscores the necessity of aligning with the market perspective, as fintech companies are reshaping the socio-technological-environmental landscape of financial services.
Research limitations/implications
The research combined DEA and multicriteria analysis in the context of the banking sector, providing a comprehensive and analytically robust approach translated as a decision-making framework for promoting sustainability by aligning operational efficiency and social responsibility. These tools can guide banks in adopting more sustainable practices that benefit the institution, society and the environment.
Practical implications
Decisions in the banking sector encompass a wide array of concepts, from internal technical factors to customer feedback on service processes and offerings. The proposed approach considers decision analysis in complex environments, and the application developed in this study considered not only internal banking activity-oriented concepts but also the preferences of human agents developing them and the managerial perspective focused on issues involving components associated with sustainability.
Originality/value
By integrating DEA with multicriteria analysis, this study paves the way for a more efficient, environmentally conscious and socially responsible management scenario in the Brazilian banking sector. This research assesses operational efficiency and offers a comprehensive framework for selecting and implementing sustainable practices in the banking sector.