The research for flexible product family manufacturing based on real options

Purpose: The goal of this paper is to find the best production strategy for product portfolio, which means the largest value of the options. And finally, give a case and find the solution of the optimal production strategy for product portfolio. Design/methodology/approach: This article, based on the production with characteristics of a call option and 0-1 integer programming model, build new-product portfolio strategy, and through case demonstrate that traditional method underestimates the value of the product portfolio. Finding: According to market being volatility and uncertainty and the production can being delayed, firms can flexibly arrange the best time for products to manufacture. Use real options theory to analyze product decision and the best production timing decision. Find the total options value is higher than the traditional methods. Research limitations/implications: We are not applied to real option pricing theory in modular flexible production system. We just applied real option pricing theory to the product platform. The basic model need to improve. While the thinking of this paper provides some research ideas for flexible production systems based on real option in further research.Peer Reviewe

A new heuristic algorithm for two-dimensional defective stock guillotine cutting stock problem with multiple stock sizes

U radu se uglavnom raspravlja o problemu rezanja giljotinom dvodimenzijske oštećene robe raspoložive u različitim veličinama. Za raspravu o problemu predlaže se novi heuristički algoritam u obliku stabla. Takav se algoritam sastoji od dva dijela: prvi dio je početno rješenje problema rezanja robe kad ne postoje oštećenja robe; drugi dio je konačno rješenje optimizacije utemeljeno na prvom dijelu uz razmatranje oštećenja. U radu se također ocjenjuju rezultati predloženog algoritma. Eksperimentalnim se rezultatima demonstrira učinkovitost algoritma za problem rezanja dvodimenzijske oštećene robe i pokazuje da se algoritmom može poboljšati ne samo stopa iskoristivosti robe već i stopa ponovne uporabe ostataka smanjenjem fragmentacije ostataka.This paper mainly addresses a two-dimensional defective stocks guillotine cutting stock problem where stock of different sizes is available. Herein a new heuristic algorithm which is based on tree is proposed to discuss this problem. In particular, such an algorithm consists of two parts: the first part is an initial solution of the cutting stock problem where there are no defects on the stocks; the second part is the final optimization solution which is set up on the basis of the first part and takes the defects into consideration. This paper also evaluates the performance of the proposed algorithm. The experimental results demonstrate the effectiveness of the algorithm for the two-dimensional defective stocks cutting stock problem and show that the algorithm can improve not only the utilization rate of stocks, but also the reuse rate of remainders by reducing the fragmentation of remainders

Research on evaluation of enterprise project culture based on Denison model

Purpose: The purpose of this paper is to build enterprise project culture evaluation model and search for the best evaluation method for Chinese enterprise project culture on the basis of studying and drawing lessons from enterprise culture evaluation theory and method at home and abroad. Design/methodology/approach: Referring to the Denison enterprise culture evaluation model, this paper optimizes it according to the difference of enterprise project culture, designs the enterprise project culture evaluation model and proves the practicability of the model through empirical. Finding: This paper finds that it's more applicable to use the Denison model for enterprise project culture evaluation through the comparative analysis of domestic and foreign enterprise culture evaluation theory and method, the systematic project culture management framework of Chinese enterprises has not yet formed through empirical research, and four factors in enterprise project culture have important influence on project operation performance improvement. Research limitations/implications: The research on evaluation of enterprise project culture based on Denison model is a preliminary attempt, the design of evaluation index system, evaluation model and scale structure also need to be improved, but the thinking of this paper in this field provides a valuable reference for future research. Practical Implications: This paper provides the support of theory and practice for evaluating the present situation of enterprise project culture construction and analyzing the advantages and disadvantages of project culture, which contributes to the "dialectical therapy" of enterprise project management, enterprise management and enterprise project culture construction. Originality/value: The main contribution of this paper is the introduction of Denison enterprise culture model. Combining with the actual situation of enterprises, this paper also builds the evaluation model for enterprise project culture, which is helpful to promote the construction and development of Chinese enterprise project culture.Peer Reviewe

Two staged incentive contract focused on efficiency and innovation matching in critical chain project management

Purpose: The purpose of this paper is to define the relative optimal incentive contract to effectively encourage employees to improve work efficiency while actively implementing innovative behavior. Design/methodology/approach: This paper analyzes a two staged incentive contract coordinated with efficiency and innovation in Critical Chain Project Management using learning real options, based on principle-agent theory. The situational experiment is used to analyze the validity of the basic model. Finding: The two staged incentive scheme is more suitable for employees to create and implement learning real options, which will throw themselves into innovation process efficiently in Critical Chain Project Management. We prove that the combination of tolerance for early failure and reward for long-term success is effective in motivating innovation. Research limitations/implications: We do not include the individual characteristics of uncertain perception, which might affect the consistency of external validity. The basic model and the experiment design need to improve. Practical Implications: The project managers should pay closer attention to early innovation behavior and monitoring feedback of competition time in the implementation of Critical Chain Project Management. Originality/value: The central contribution of this paper is the theoretical and experimental analysis of incentive schemes for innovation in Critical Chain Project Management using the principal-agent theory, to encourage the completion of CCPM methods as well as imitative free-riding on the creative ideas of other members in the teamPeer Reviewe

Study on a New Video Scene Segmentation Algorithm

A new video scene segmentation algorithm is proposed based on semantic overlapped shot linked algorithm in this paper. The video shot similarity is calculated by using multi-modality subspace correlation propagation. The experiments show that the video scene can be effectively separated by the method proposed in the paper, and theMAP values,Mvalues reached 50%, 83.4% respectively

Two staged incentive contract focused on efficiency and innovation matching in critical chain project management

Purpose: The purpose of this paper is to define the relative optimal incentive contract to effectively encourage employees to improve work efficiency while actively implementing innovative behavior. Design/methodology/approach: This paper analyzes a two staged incentive contract coordinated with efficiency and innovation in Critical Chain Project Management using learning real options, based on principle-agent theory. The situational experiment is used to analyze the validity of the basic model. Finding: The two staged incentive scheme is more suitable for employees to create and implement learning real options, which will throw themselves into innovation process efficiently in Critical Chain Project Management. We prove that the combination of tolerance for early failure and reward for long-term success is effective in motivating innovation. Research limitations/implications: We do not include the individual characteristics of uncertain perception, which might affect the consistency of external validity. The basic model and the experiment design need to improve. Practical Implications: The project managers should pay closer attention to early innovation behavior and monitoring feedback of competition time in the implementation of Critical Chain Project Management. Originality/value: The central contribution of this paper is the theoretical and experimental analysis of incentive schemes for innovation in Critical Chain Project Management using the principal-agent theory, to encourage the completion of CCPM methods as well as imitative free-riding on the creative ideas of other members in the tea

Two staged incentive contract focused on efficiency and innovation matching in critical chain project management

Purpose: The purpose of this paper is to define the relative optimal incentive contract to effectively encourage employees to improve work efficiency while actively implementing innovative behavior. Design/methodology/approach: This paper analyzes a two staged incentive contract coordinated with efficiency and innovation in Critical Chain Project Management using learning real options, based on principle-agent theory. The situational experiment is used to analyze the validity of the basic model. Finding: The two staged incentive scheme is more suitable for employees to create and implement learning real options, which will throw themselves into innovation process efficiently in Critical Chain Project Management. We prove that the combination of tolerance for early failure and reward for long-term success is effective in motivating innovation. Research limitations/implications: We do not include the individual characteristics of uncertain perception, which might affect the consistency of external validity. The basic model and the experiment design need to improve. Practical Implications: The project managers should pay closer attention to early innovation behavior and monitoring feedback of competition time in the implementation of Critical Chain Project Management. Originality/value: The central contribution of this paper is the theoretical and experimental analysis of incentive schemes for innovation in Critical Chain Project Management using the principal-agent theory, to encourage the completion of CCPM methods as well as imitative free-riding on the creative ideas of other members in the teamPeer Reviewe