Tasks, cognitive agents, and KB-DSS in workflow and process management

The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest rates following a robust estimation procedure and the market price of interest rate risk is estimated as implied from the historical term structure data. That is, instead of imposing a priori restrictions on the model, data are allowed to speak for themselves, and at the same time the model retains a parsimonious structure and the computational tractability. The model is implemented using historical Canadian interest rate term structure data. The parametric models with closed form solutions for bond and bond option prices, namely the Vasicek (1977) and CIR (1985) models, are also estimated for comparison purpose. The empirical results not only provide strong evidence that the traditional spot interest rate models and market prices of interest rate risk are severely misspecified but also suggest that different model specifications have significant impact on term structure dynamics and prices of interest rate derivative securities.

Value-driven Security Agreements in Extended Enterprises

Today organizations are highly interconnected in business networks called extended enterprises. This is mostly facilitated by outsourcing and by new economic models based on pay-as-you-go billing; all supported by IT-as-a-service. Although outsourcing has been around for some time, what is now new is the fact that organizations are increasingly outsourcing critical business processes, engaging on complex service bundles, and moving infrastructure and their management to the custody of third parties. Although this gives competitive advantage by reducing cost and increasing flexibility, it increases security risks by eroding security perimeters that used to separate insiders with security privileges from outsiders without security privileges. The classical security distinction between insiders and outsiders is supplemented with a third category of threat agents, namely external insiders, who are not subject to the internal control of an organization but yet have some access privileges to its resources that normal outsiders do not have. Protection against external insiders requires security agreements between organizations in an extended enterprise. Currently, there is no practical method that allows security officers to specify such requirements. In this paper we provide a method for modeling an extended enterprise architecture, identifying external insider roles, and for specifying security requirements that mitigate security threats posed by these roles. We illustrate our method with a realistic example

Panel on future challenges in modeling methodology

This panel paper presents the views of six researchers and practitioners of simulation modeling. Collectively we attempt to address a range of key future challenges to modeling methodology. It is hoped that the views of this paper, and the presentations made by the panelists at the 2004 Winter Simulation Conference will raise awareness and stimulate further discussion on the future of modeling methodology in areas such as modeling problems in business applications, human factors and geographically dispersed networks; rapid model development and maintenance; legacy modeling approaches; markup languages; virtual interactive process design and simulation; standards; and Grid computing

The Role of Maintenance and Facility Management in Logistics: A Literature Review

Purpose - The purpose of this paper is to provide a literature review on the different ways of carrying out Facility Management and related topics in order to uncover that there is limited research regarding the impact of Facility Management on the logistics and operational performance of warehouses. Design/methodology/approach - Four different focus areas have been identified and for each one different methodologies and streams of research have been studied. Findings - The study underlines the importance of Facility Management for the logistics operations; therefore it supports the notion that investments aiming at preserving the status of the building and service components of warehouses are crucial. Originality/value - This paper aims to suggest to Facility Management managers that they can contribute to enhance business performance by designing effective Facility Management strategie

A Process Modelling Success Model: Insights from a Case Study

Contemporary concepts such as Business Pro cess Re-engineering and Process Innovation emphasize the importance of process-oriented management concepts as a businesses paradigm. Large scaled multimillion-dollar implementations of Enterpri se Systems explicitly and implicitly state the importance of process modeling and its contribution to the success of these project. While there has been much research and publications on alterna tive process modeling techniques and tools, little attention has focused on post-hoc evaluation of actual process modeling activities or on deriving comprehensive guidelines on ‘how-to’ conduct process modeling effectively. This study aims at addressing this gap. A comprehensive a priori pro cess modeling success model has been derived and this paper reports on the results obtained from a detailed case study at a leading Australian logistics service provider, which was conducted with the aim of testing and re-specifying the model

Tasks, cognitive agents, and KB-DSS in workflow and process management

The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest rates following a robust estimation procedure and the market price of interest rate risk is estimated as implied from the historical term structure data. That is, instead of imposing a priori restrictions on the model, data are allowed to speak for themselves, and at the same time the model retains a parsimonious structure and the computational tractability. The model is implemented using historical Canadian interest rate term structure data. The parametric models with closed form solutions for bond and bond option prices, namely the Vasicek (1977) and CIR (1985) models, are also estimated for comparison purpose. The empirical results not only provide strong evidence that the traditional spot interest rate models and market prices of interest rate risk are severely misspecified but also suggest that different model specifications have significant impact on term structure dynamics and prices of interest rate derivative securities.

Modeling views in the layered view model for XML using UML

In data engineering, view formalisms are used to provide flexibility to users and user applications by allowing them to extract and elaborate data from the stored data sources. Conversely, since the introduction of Extensible Markup Language (XML), it is fast emerging as the dominant standard for storing, describing, and interchanging data among various web and heterogeneous data sources. In combination with XML Schema, XML provides rich facilities for defining and constraining user-defined data semantics and properties, a feature that is unique to XML. In this context, it is interesting to investigate traditional database features, such as view models and view design techniques for XML. However, traditional view formalisms are strongly coupled to the data language and its syntax, thus it proves to be a difficult task to support views in the case of semi-structured data models. Therefore, in this paper we propose a Layered View Model (LVM) for XML with conceptual and schemata extensions. Here our work is three-fold; first we propose an approach to separate the implementation and conceptual aspects of the views that provides a clear separation of concerns, thus, allowing analysis and design of views to be separated from their implementation. Secondly, we define representations to express and construct these views at the conceptual level. Thirdly, we define a view transformation methodology for XML views in the LVM, which carries out automated transformation to a view schema and a view query expression in an appropriate query language. Also, to validate and apply the LVM concepts, methods and transformations developed, we propose a view-driven application development framework with the flexibility to develop web and database applications for XML, at varying levels of abstraction

End-of-life vehicle (ELV) recycling management: improving performance using an ISM approach

With booming of the automobile industry, China has become the country with increasing car ownership all over the world. However, the end-of-life vehicle (ELV) recycling industry is at infancy, and there is little systematic review on ELV recycling management, as well as low adoption amongst domestic automobile industry. This study presents a literature review and an interpretive structural modeling (ISM) approach is employed to identify the drivers towards Chinese ELV recycling business from government, recycling organizations and consumer’s perspectives, so as to improve the sustainability of automobile supply chain by providing some strategic insights. The results derived from the ISM analysis manifest that regulations on auto-factory, disassembly technique, and value mining of recycling business are the essential ingredients. It is most effective and efficient to promote ELV recycling business by improving these attributes, also the driving and dependence power analysis are deemed to provide guidance on performance improvement of ELV recycling in the Chinese market