Purchasing Raw Material in a Fluctuating Market
Purchasing Raw Material in a Fluctuating Market

Author: Jose Trevino

Publisher:

Published: 1964

Total Pages: 110

ISBN-13:

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A class of situations is considered where the usual techniques of operations research do not indicate the possibility of reducing to a common unit all the operating characteristics of a system caused by some decision and thus defining a criterion function. A special example of this class is furnished by the management of raw materials inventory in the face of fluctuation prices in the raw material market. Statistically reliable explanatory models of the random behavior of price are constructed, and decision rules are defined as transformation of appropriately chosen state variables. Some functionals of the random outcomes of decisions are computed as functions of the undetermined parameters open in the decision rule. Trade-offs between such functionals or system characteristics are analyzed with a view to obtain a basis for the selection of 'good' values of the parameters. Theoretical results are compared against simulated systems using actual series as inputs. (Author).

Raw Materials Purchasing
Raw Materials Purchasing

Author: B. G. Kingsman

Publisher: Elsevier

Published: 2014-06-28

Total Pages: 428

ISBN-13: 1483297268

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A systematic study of commodity purchasing analysed from an operational research viewpoint and based on numerous case studies.

Commodity Procurement with Operational and Financial Instruments
Commodity Procurement with Operational and Financial Instruments

Author: Jan Arnold

Publisher: Springer Science & Business Media

Published: 2010-05-10

Total Pages: 159

ISBN-13: 3834986542

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Jan Arnold integrates financial and operational aspects into a holistic approach to commodity procurement. He shows how to combine operational strategies considering just-in-time procurement, inventory holding and backlogging with financial strategies considering derivative instruments into an optimal procurement plan under volatile procurement prices.

Dynamic Programming
Dynamic Programming

Author: A. Kaufmann

Publisher: Academic Press

Published: 2011-10-14

Total Pages: 297

ISBN-13: 0080955444

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This work discusses the value of dynamic programming as a method of optimization for the sequential phenomena encountered in economic studies or in advanced technological programs such as those associated with space flights. The dynamic programs which are considered are defined for a deterministic universe, or one with probabilities; both categories are of equal importance in the practice of operations research or of scientific management.

Dynamic Programming in Chemical Engineering and Process Control by Sanford M Roberts
Dynamic Programming in Chemical Engineering and Process Control by Sanford M Roberts

Author: Sanford M. Roberts

Publisher: Elsevier

Published: 1964-01-01

Total Pages: 473

ISBN-13: 0080955193

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In this book, we study theoretical and practical aspects of computing methods for mathematical modelling of nonlinear systems. A number of computing techniques are considered, such as methods of operator approximation with any given accuracy; operator interpolation techniques including a non-Lagrange interpolation; methods of system representation subject to constraints associated with concepts of causality, memory and stationarity; methods of system representation with an accuracy that is the best within a given class of models; methods of covariance matrix estimation; methods for low-rank matrix approximations; hybrid methods based on a combination of iterative procedures and best operator approximation; and methods for information compression and filtering under condition that a filter model should satisfy restrictions associated with causality and different types of memory. As a result, the book represents a blend of new methods in general computational analysis, and specific, but also generic, techniques for study of systems theory ant its particular branches, such as optimal filtering and information compression. - Best operator approximation, - Non-Lagrange interpolation, - Generic Karhunen-Loeve transform - Generalised low-rank matrix approximation - Optimal data compression - Optimal nonlinear filtering

Developments in Operational Research
Developments in Operational Research

Author: R. W. Eglese

Publisher: Elsevier

Published: 2014-05-23

Total Pages: 119

ISBN-13: 1483161684

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Developments in Operational Research reviews developments in operational research (OR) and includes numerical examples to illustrate techniques and applications. Topics covered include some of the most widely used OR ""techniques"", such as mathematical programming and simulation, together with the contribution of OR methodology to specific application areas, such as capital investment appraisal and purchasing. This book is comprised of seven chapters and begins with an introduction to the state of mathematical programming systems, along with the relevance of other optimization algorithms to OR and techniques for handling certain types of nonlinearity. The discussion then turns to network optimization techniques and their applications for the New Zealand Justice Department as well as for the wheat and dairy industries. The following chapters focus on computer simulation as applied in OR, with emphasis on various approaches to discrete event modeling; application of OR to industrial maintenance and replacement; financial appraisal methods, including discounting methods; and the use of Bayesian decision analysis to decision making. This text concludes by looking at the purchasing function and the limitations of classical stock control theory in practice. Models and procedures are developed to cope with real situations. Materials requirements planning, quantity discounts, price inflation, commodity purchasing decisions, and blending problems are considered. This monograph will be of interest to planners, decision makers, and others involved in operations research.

LISS 2014
LISS 2014

Author: Zhenji Zhang

Publisher: Springer

Published: 2015-04-20

Total Pages: 1743

ISBN-13: 3662438712

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The proceedings of the 2014 International Conference on Logistics, Informatics and Services Sciences (LISS’2014) gather 259 papers on the latest fundamental advances in the state of the art and practice of logistics, informatics, service operations and service science. The books is divided into four main sections focusing on different aspects: Service Management, Logistics Management, Information Management, and Engineering Management. It also covers ten special sessions: Advanced Management Decision Making Techniques and Application; Freight Transportation and Information Technology; Free Trade Zone (FTZ) and Supply Chain Management; Innovation in Service Science; Comprehensive Service; International Trade and Investment of Service Industries Theories and Practices, Trends and Strategies; Supply Chain Management, Industrial Economy and Urban Logistics; Management Process Optimization Modeling & Data Analysis; Logistics Management & IOT Technology Application; and Digital Publishing & Media. The papers in each section describe state-of-art research works that are often oriented towards real-world applications and highlight the benefits of related methods and techniques for developing the emerging field of service science, logistics and informatics.