Preparation and Forming Technology of Particle Reinforced Aluminum Matrix Composites

This paper introduces the performance and preparation technology and forming technology of particle reinforcedaluminum matrix composites. The application status of particle reinforced aluminum matrix composites is illustrated,and its development prospect is pointed out

PROFITABILITY ANALYSIS OF FREE UPGRADE POLICY

We consider a firm selling two similar products with different prices. When the lower-priced product is out of stock, the firm supplies the customer a higher-priced product with the lower-priced product price. The policy is called free upgrade. In this paper, we study the profitability of such policy. We formulate the problem as a two-product newsvendor problem, and prove that the firm achieves more profit with the free upgrade policy. We propose a simulation algorithm to find the solution and demonstrate our findings with some numerical examples.Inventory, optimization, newsvendor problem, simulation

INTERNET MARKETING BUDGET ALLOCATION: FROM PRACTITIONER'S PERSPECTIVE

Consider a firm promotes its products through several Internet media with a fixed Internet marketing budget and models the budget allocation decisions as a competitive game, in which each firm formulates its own optimization model that is influenced by the competitors' moves as well. One challenge to the application of such model in practice is how to deal with asymmetric information. In this paper, we discuss several issues that are often asked by the practitioners that are related to dealing with asymmetric information. Among them are (1) how accurate of the estimated model used by the firm is good enough in the absence of other firms' strategy information; and (2) what the indicators are that currently used model becomes outdated.Optimization, budget allocation, asymmetric information

RANKING THE EFFICIENCY PERFORMANCE WITHIN A SET OF DECISION MAKING UNITS BY DATA ENVELOPMENT ANALYSIS

In contrast to parametric approaches which try to optimize a single regression function through the observed data set, DEA optimizes on each individual observation with a objective of calculating a discrete piece-wise linear frontier. In the so-called preliminary DEA efficiency evaluation, whether or not a DMU is efficient is solely determined by the solution of the linear programming problem constructed for this particular DMU. In our proposed ranking method, we assess the efficiency performance of a particular DMU based not only on its efficiency score when the DMU is standing out in the objective function of the linear problem but also its efficiency ratios under the optimal solutions of other n-1 linear programming problems. This constitutes the overall efficiency performance of a DMU. A ranking procedure is developed to rank the n DMUs in terms of the overall efficiency performance.Ranking of efficiency performance, Data Envelopment Analysis, linear programming

Ranking the efficiency performance within a set of decision making units by data envelopment analysis

Research Paper Series (National University of Singapore. Faculty of Business Administration); 1996-0111-1

The newsvendor problem with an in-season price adjustment

Consider a retailer stocking a seasonal item facing a stochastic demand where information about the demand becomes more accurate as the selling season progresses. The retailer places orders before the start of the season and in-season reorders are not possible. This article extends the classical newsvendor model by allowing the retailer to make an in-season price adjustment after conducting a review and using the realized demand to obtain an accurate estimate of the remaining demand. Our results include answers to the following questions. What price should the retailer choose? How much should the retailer have ordered at the start of the season given the option of adjusting prices in-season? This model was motivated by a problem in car rental revenue management and has applications in perishable assets revenue management (PARM), where price adjustments are needed towards the end of the selling season.Inventory Stochastic Newsvendor Single-Period Supply chain