958 research outputs found
Fuzzy Logic and Its Uses in Finance: A Systematic Review Exploring Its Potential to Deal with Banking Crises
The major success of fuzzy logic in the field of remote control opened the door to its application in many other fields, including finance. However, there has not been an updated and comprehensive literature review on the uses of fuzzy logic in the financial field. For that reason, this study attempts to critically examine fuzzy logic as an effective, useful method to be applied to financial research and, particularly, to the management of banking crises. The data sources were Web of Science and Scopus, followed by an assessment of the records according to pre-established criteria and an arrangement of the information in two main axes: financial markets and corporate finance. A major finding of this analysis is that fuzzy logic has not yet been used to address banking crises or as an alternative to ensure the resolvability of banks while minimizing the impact on the real economy. Therefore, we consider this article relevant for supervisory and regulatory bodies, as well as for banks and academic researchers, since it opens the door to several new research axes on banking crisis analyses using artificial intelligence techniques
Process Planning Optimization In Reconfigurable Manufacturing Systems
Trends and perspectives in dynamic environments point towards a need for optimal
operating levels in reconfigurable manufacturing activities. Central to the goal of
meeting this need is the issue of appropriate techniques for manufacturing process
planning optimization in reconfigurable manufacturing, i.e. (i) what decision making
models and (ii) what computational techniques, provide an optimal manufacturing
process planning solution in a multidimensional decision variables space? Conventional
optimization techniques are not robust, hence; they are not suitable for handling
multidimensional search spaces. On the other hand, process planning optimization for
reconfigurable manufacturing is not amenable to classical modeling approaches due to
the presence of complex system dynamics. Therefore, this study explores how to model
reconfigurable manufacturing activities in an optimization perspective and how to
develop and select appropriate non-conventional optimization techniques for
reconfigurable process planning.In this study, a new approach to modeling Manufacturing Process Planning
Optimization (MPPO) was developed by extending the concept of manufacturing
optimization through a decoupled optimization method. The uniqueness of this
approach lies in embedding an integrated scheduling function into a partially integrated
process planning function in order to exploit the strategic potentials of flexibility and
reconfigurability in manufacturing systems. Alternative MPPO models were constructed
and variances associated with their utilization analyzed. Five (5) Alternative Algorithm
Design Techniques (AADTs) were developed and investigated for suitability in
providing process planning solutions suitable for reconfigurable manufacturing. The
five (5) AADTs include; a variant of the simulated annealing algorithm that implements
heuristic knowledge at critical decision points, two (2) cooperative search schemes
based on a “loose hybridization” of the Boltzmann Machine algorithm with (i)
simulated annealing, and (ii) genetic algorithm search techniques, and two (2) modified
genetic algorithms.
The comparative performances of the developed AADTs when tasked to solve an
instance of a MPPO problem were analyzed and evaluated. In particular, the relative
performances of the novel variant of simulated annealing in comparison to: (a) (i) a
simulated annealing search, and (ii) a genetic search in the Boltzmann Machine
Architecture, and (b) (i) a modified genetic algorithm and (ii) a genetic algorithm with a
customized threshold operator that implements an innovative extension of the diversity
control mechanism to gene and genome levels; were pursued in this thesis.Results show that all five (5) AADTs are capable of stable and asymptotic convergence
to near optimal solutions in real time. Analysis indicates that the performances of the
implemented variant of simulated annealing are comparable to those of other
optimization techniques developed in this thesis. However, a computational study
shows that; in comparison to the simulated annealing technique, significant
improvements in optimization control performance and quality of computed solutions
can be realized through implementing intelligent techniques. As evidenced by the
relative performances of the implemented cooperative schemes, a genetic search is
better than a simulated annealing search in the Boltzmann Machine Architecture. In
addition, little performance gain can be realized through parallelism in the Boltzmann
Machine Architecture. On the other hand, the superior performance of the genetic
algorithm that implements an extended diversity control mechanism demonstrates that
more competent genetic algorithms can be designed through customized operators.
Therefore, this study has revealed that extending manufacturing optimization concepts
through a decoupled optimization method is an effective modeling approach that is
capable of handling complex decision scenarios in reconfigurable manufacturing
activities. The approach provides a powerful decision framework for process planning
optimization activities of a multidimensional nature. Such an approach can be
implemented more efficiently through intelligent techniques. Hence; intelligent
techniques can be utilized in manufacturing process planning optimization strategies
that aim to improve operating levels in reconfigurable manufacturing with the resultant
benefits of improved performance levels
Pull control for Job Shop: Holonic Manufacturing System approach using multicriteria decision-making
International audienceFaced with international competition, industrial production increasingly requires implementation conditions which, in some cases, lead to seek new techniques for workshop control. This is the case when it is asked to establish Just in Time management in a Job Shop having the characteristics of working with small series. A new approach for the organization of the ‘control’ function in such a context is presented here. This approach relies on the use of the holonic paradigm on an isoarchic architecture and on a decision-making capacity based on a multicriteria analysis. The various concepts of this approach are addressed first. Then, the multicriteria decision mechanisms that are used are detailed, as well as the implementation and instrumentation phases. The first results that were obtained are presented
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A decision support system for fostering smart energy efficient districts
The role of ICT is becoming prominent in tackling some of the urban societal challenges such as energy
wastage and increasing carbon emissions. In this context, the concept of DAREED aims to deliver an
integrated decision support system (DSS) to drive energy efficiency and low carbon activities at both a
building and district level. The main aim of this paper is to present the technical concept of the Best
Practices recommendation component of the DAREED system. This component seeks to compare and
identify existing best practices to recommend practical actions to various stakeholders (e.g. building
managers, citizens) in order to improve energy performance considering the global needs of a building.
This paper also discusses the context of the three field trial sites (based in UK, Spain and Italy) in which
the DAREED platform along with the best practices tool is to be tested and validated.This work evolved in the context of the project DAREED (Decision support Advisor for innovative
business models and useR engagement for smart Energy Efficient Districts), www.dareed.eu, a project cofunded
by the EC within FP7, Grant agreement no: 609082
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Past, present and future mathematical models for buildings (i)
This is the first of two articles presenting a detailed review of the historical evolution of mathematical models applied in the development of building technology, including conventional buildings and intelligent buildings. After presenting the technical differences between conventional and intelligent buildings, this article reviews the existing mathematical models, the abstract levels of these models, and their links to the literature for intelligent buildings. The advantages and limitations of the applied mathematical models are identified and the models are classified in terms of their application range and goal. We then describe how the early mathematical models, mainly physical models applied to conventional buildings, have faced new challenges for the design and management of intelligent buildings and led to the use of models which offer more flexibility to better cope with various uncertainties. In contrast with the early modelling techniques, model approaches adopted in neural networks, expert systems, fuzzy logic and genetic models provide a promising method to accommodate these complications as intelligent buildings now need integrated technologies which involve solving complex, multi-objective and integrated decision problems
Enhancing Job Scheduling of an Atmospheric Intensive Data Application
Nowadays, e-Science applications involve great deal of data to have more accurate analysis. One of its application domains is the Radio Occultation which manages satellite data. Grid Processing Management is a physical infrastructure geographically distributed based on Grid Computing, that is implemented for the overall processing Radio Occultation analysis. After a brief description of algorithms adopted to characterize atmospheric profiles, the paper presents an improvement of job scheduling in order to decrease processing time and optimize resource utilization. Extension of grid computing capacity is implemented by virtual machines in existing physical Grid in order to satisfy temporary job requests. Also scheduling plays an important role in the infrastructure that is handled by a couple of schedulers which are developed to manage data automaticall
Neuro-fuzzy resource forecast in site suitability assessment for wind and solar energy: a mini review
Abstract:Site suitability problems in renewable energy studies have taken a new turn since the advent of geographical information system (GIS). GIS has been used for site suitability analysis for renewable energy due to its prowess in processing and analyzing attributes with geospatial components. Multi-criteria decision making (MCDM) tools are further used for criteria ranking in the order of influence on the study. Upon location of most appropriate sites, the need for intelligent resource forecast to aid in strategic and operational planning becomes necessary if viability of the investment will be enhanced and resource variability will be better understood. One of such intelligent models is the adaptive neuro-fuzzy inference system (ANFIS) and its variants. This study presents a mini-review of GIS-based MCDM facility location problems in wind and solar resource site suitability analysis and resource forecast using ANFIS-based models. We further present a framework for the integration of the two concepts in wind and solar energy studies. Various MCDM techniques for decision making with their strengths and weaknesses were presented. Country specific studies which apply GIS-based method in site suitability were presented with criteria considered. Similarly, country-specific studies in ANFIS-based resource forecasts for wind and solar energy were also presented. From our findings, there has been no technically valid range of values for spatial criteria and the analytical hierarchical process (AHP) has been commonly used for criteria ranking leaving other techniques less explored. Also, hybrid ANFIS models are more effective compared to standalone ANFIS models in resource forecast, and ANFIS optimized with population-based models has been mostly used. Finally, we present a roadmap for integrating GIS-MCDM site suitability studies with ANFIS-based modeling for improved strategic and operational planning
Binary choice models for external auditors decisions in Asian banks
Summarization: The present study investigates the efficiency of four classification techniques, namely discriminant analysis, logit analysis, UTADIS multicriteria decision aid, and nearest neighbours, in the development of classification models that could assist auditors during the examination of Asian commercial banks. To develop the auditing models and examine their classification ability, the dataset is split into two distinct samples. The training sample consists of 1,701 unqualified financial statements and 146 ones that received a qualified opinion over the period 1996–2001. The models are tested in a holdout sample of 527 unqualified financial statements and 52 ones that received a qualified opinion over the period 2002–2004. The results show that the developed auditing models can discriminate between financial statements that should receive qualified opinions from the ones that should receive unqualified opinions with an out-of-sample accuracy around 60%. The highest classification accuracy is achieved by UTADIS, followed by logit analysis, nearest neighbours and discriminant analysis. Both financial variables and the environment in which banks operate appear to be important factors.Presented on: Operational Research, An International Journa
A Survey of Smart Grid Systems on Electric Power Distribution Network and Its Impact on Reliability
This paper presents an excerpt of a more comprehensive survey of smart grid systems on electric power distribution networks and its impact on reliability. The survey was carried out as part of the feasibility study in Nigeria to determine its enhance-ability on the smartness of a conventional (traditional) distribution network. A smart grid is not a single technology but multiplex technologies in which the combination of different areas of engineering, communication and energy management systems are done. Consequently, a comprehensive review of various approaches and their impact on reliability of the network is presented. Furthermore, this paper introduces the smart grid technology and its features, reliability impacts and emerging issues and challenges that arise from the smart grid system applications. The benefit of this comprehensive survey is to provide a reference point for educational advancement on the recently published articles in the areas of smart grid systems on electric power distribution network as well as to stimulate further research interest
PROSIS: An isoarchic structure for HMS control
International audienceThis paper presents a holonic and isoarchic approach to the Flexible Manufacturing System (FMS) control. This approach is based on a flat holonic form, where each holon is a model for each entity of the FMS, with a unifying level of communication between holons. After description of this model, called PROSIS, the interaction protocol and decision rules are presented. The objective is to increase the FMS productivity and flexibility, particularly on responsiveness aspects. This responsiveness is achieved through decentralized generation of the production tasks. The reactive behaviour of the FMS control is illustrated by the example of a flexible turning cell, upon occurrence of a failure or of an urgent batch order, and the resulting Gantt charts are shown
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