Risk-Reducing Legal Documents: Controlling Personal Health and Financial Resources

Every adult can eliminate the risk of losing control of personal health decisions and financial resources by having a last will and testament, health proxy, power of attorney, and living trust. Yet evidence suggests that less than a majority of adult Americans have these documents. We surveyed 900 adult Americans (25 plus years old) to determine what factors predict the possession of these risk-reducing documents. In total, 46% had a living will and testament, 32% a durable power of attorney, 30% a health proxy, and 18% a living trust. Events that prompt people with wealth to secure these documents, such as increasing age, getting married, having children, and experiencing a life-threatening event were the strongest predictors of having a will. These were also among the strongest predictors of having a health proxy, along with a personal history of being proactive, and a family history that fostered trust of attorneys. Affluence, age, and education were the strongest predictors of having a living trust, and the strongest correlate of having a durable power of attorney was having faced a life-threatening event, positive experiences with attorneys, and higher educational achievement.     

Developing a manufacturing vision

The concept of a manufacturing vision is introduced as a company specific, commonly shared, holistic picture of the way in which future manufacturing in the company will function. First is presented what a manufacturing vision is, and then is presented a five-step framework in which such a manufacturing vision may be developed. A manufacturing vision is regarded as a bridge between the mission, goals, and strategies of an industrial enterprise and the detailed design of a manufacturing system. Such a bridge may ensure that manufacturing is able to make a relevant strategic contribution to developing and sustaining the competitiveness of the company and may serve as a guide for innovation and integration of the various elements of a manufacturing system. The paper rests on action research projects in more than ten industrial companies, and the experiences gained are discussed in a section on issues related to the development process including experimentation without fear of losing face, participation and involvement of managers and employees, and finally the outset for a manufacturing vision. To give an example of a manufacturing vision the paper also very briefly introduces a case of a medium-sized supplier of welded parts and equipment for a number of different industries.     

GLOBAL JOB SHOP SCHEDULING WITH A GENETIC ALGORITHM

This paper describes a global job shop scheduling procedure that uses a genetic algorithm to find a good schedule. Unlike previously considered algorithms, this procedure has been implemented in the scheduling system for a manufacturing facility and has led to improved scheduling. This facility is a semiconductor test area. The test area is a job shop and has sequence-dependent setup times at some operations. The concern of management is to meet their customer due dates and to increase throughput. This requires the coordination of many resources, a task beyond the ability of simple dispatching rules. We discuss a centralized procedure that can find a good schedule through the use of a detailed scheduling model and a genetic algorithm that searches over combinations of dispatching rules. We discuss our effort in developing a system that models the shop, creates schedules for the test area personnel, and makes a number of contributions to test area management.     

Configuring a new business model through conceptual combination: The rise of the Huffington Post

How a successful business model (BM) is designed is a key question in the business model innovation (BMI) literature. Delving on the shared concept of BM as a configuration of components and interdependencies, we take a cognitive perspective to study the conceptual combination as a central process in BMI. We investigate the complexity of conceiving a new BM configuration, through a longitudinal study of the emergence of “The Huffington Post” which combined newspaper and blog in a disruptive and successful BM. With our research we theoretically frame the dynamic interplay between the three cognitive mechanisms of conceptual combination and the system of interdependent components of an emerging BM. Our findings unveil how the overall process unfolds and specifically delves into the dynamic iteration of composing and experimenting with the new configuration until the overall coherence is reached. Hence, we advance the literature by showing how the conceptual combination of a new BM is a complex effort and comprises some iterative cycles, vital to reach a coherent configuration which could secure a superior performance.     

Measuring servitization progress and outcome: the case of ‘advanced services’

The purpose of this paper is to establish a framework for assessing the progress and outcome of a manufacturer’s transformation towards becoming a provider of ‘advanced services’ – a complex bundling of products and services, whereby manufacturers offer capabilities and outcomes instead of products alone. ‘Advanced services’ represent the most complex offering in the current servitization trend amongst manufacturers. However, current performance measures lack the breadth and focus to assess progress or outcomes, and so support research and practice of organisational transformation efforts required. To address this gap the paper investigates how a manufacturer’s efforts to become an ‘advanced services’ provider can be comprehensively measured, and develops a framework for assessing the transformation journey towards becoming an ‘advanced services’ provider. The research method is based on (1) a systematic literature review process to create a comprehensive set of service-related performance measures that are available to assess a manufacturer’s servitization efforts, followed by (2) an engagement with an expert panel to synthesise the identified measures and create a set of ‘advanced services’ performance measures. The proposed framework is presented as a scorecard that can be used in practice to assess the progress and outcome of a manufacturer’s transformation towards becoming a provider of ‘advanced services’.     

Die Wechseljahre — Zeit des beruflichen Wandels Karriereberatung bei einer 50-jährigen Frau

The climacteric period — a time of professional change. Career coaching with a 50 years old womanThe climacteric period are valid as a time of great changes and often also represent a neworientation in professional life. In a career coaching with a 50 year old teacher and therapist, it was a question of a professional decision-making: returning in the teacher profession or developing her therapeutic career. In the course of common work and a created future-panorama her following professional way was more visible, which also considered her age and her reducing capability.     

A productivity study in a chemical plant

This paper describes a case study in the application of a productivity analysis model in a plant producing industrial gases. Although the process is a relatively simple one, several inputs (labour, electricity, capital and some materials) and several outputs (liquid and gaseous oxygen, gaseous nitrogen, argon and a hydrogen-nitrogen mixture) are involved. The case study demonstrates how measures of total input and total output can be applied and analyses the performance of the plant over a 15-month period in terms of a variety of managerial control ratios.     

A characterization of graphs with disjoint dominating and paired-dominating sets

A dominating set of a graph is a set of vertices such that every vertex not in the set is adjacent to a vertex in the set, while a paired-dominating set of a graph is a set of vertices such that every vertex is adjacent to a vertex in the set and the subgraph induced by the set contains a perfect matching. In this paper, we provide a constructive characterization of graphs whose vertex set can be partitioned into a dominating set and a paired-dominating set.     

A Scale of Risk

This article proposes a conceptual framework for ranking the relative gravity of diverse risks. This framework identifies the moral considerations that should inform the evaluation and comparison of diverse risks. A common definition of risk includes two dimensions: the probability of occurrence and the associated consequences of a set of hazardous scenarios. This article first expands this definition to include a third dimension: the source of a risk. The source of a risk refers to the agents involved in the creation or maintenance of a risk and captures a central moral concern about risks. Then, a scale of risk is proposed to categorize risks along a multidimensional ranking, based on a comparative evaluation of the consequences, probability, and source of a given risk. A risk is ranked higher on the scale the larger the consequences, the greater the probability, and the more morally culpable the source. The information from the proposed comparative evaluation of risks can inform the selection of priorities for risk mitigation.     

Risk tolerance and a retailer's pricing and ordering policies within a newsvendor framework

This paper evaluates the pricing and ordering policies of a retailer, facing a price-dependent stochastic demand, within a newsvendor framework, under different degrees of risk tolerance and under a variety of optimizing objectives. These are (i) maximizing expected profit, for a retailer who may be risk-seeker, risk-averse or risk neutral; (ii) deriving a maximin strategy of maximizing a minimum guaranteed profit and (iii) modeling the probability of exceeding a target profit, as a constraint or as an objective. Some analytical properties and numerical examples illustrate the main features of the models and provide some comparative policy analysis across the model.     

Labeling of nanotechnology consumer products can influence risk and benefit perceptions

Currently, there is no mandatory labeling for products containing synthetic nanoparticles. The public as well as other stakeholders have positive views about mandatory labeling. However, little is known how such a label influences the risk and benefit perception of a product. Consumers may infer that a label is a signal that there are risks associated with this technology. Data were collected in a survey experiment (N= 1,382). Participants were randomly assigned to one of six conditions. The control group received a picture of a sunscreen container without a label. One experimental group received a picture of a sunscreen container with a label. The other groups received, in addition to the sunscreen container with a label, some risk or benefit information. Results suggest that labeling of products may reduce consumers' benefit perception and increase risk perception. Labeling nanotechnology consumer products may change the public perception of the products. Respondents may have relied on the affect heuristic for assessing the risks and benefits of the sunscreen.     

Load-oriented manufacturing control just-in-time production for job shops

The paper describes the principles of load-oriented manufacturing control as a new solution for job shops and its successful implementation in a pump-manufacturing factory. The idea of load-oriented manufacturing control is to limit and balance work-in-process inventory on a level as low as possible in order to accomplish a high work-centre utilization as well as a rapid and in-time flow of orders. As the new system keeps actual lead times on a planned level in a self-regulating way, it allows reliable due-date scheduling. Furthermore it points out the bottlenecks and performs applicable mid-term and short-term capacity planning.     

Scheduling a transportation network

The objective of this article is to give a concise report on a project to achieve an optimal operation of a public transportation network by the application of modern mathematical programming methods and computing techniques. The paper delineates the formulation of a mathematical model of a general public transportation network, and sketches a procedure to determine the buses' departure times so as to optimize a desired performance index; specifically, the average waiting time of passengers.     

On single machine scheduling with resource constraint

The single machine scheduling with resource constraint is a nonlinear combinatorial optimization problem in cloud computing applications. Given a set of jobs and certain resource, the problem is to find a permutation of jobs and a distribution of resource to optimize certain objective function. The processing time of each job is a nonlinear function with respect to the resource assigned to it. In this paper, we propose a naive algorithm and study a subproblem in the algorithm that suppose the permutation of jobs is also given, how to find a resource distribution to minimize the total weighted flow time. We found a polynomial-time optimal solution for a special case and an approximation solution in general case.     

A joint optimal pricing and order quantity model under parameter uncertainty and its practical implementation

We consider a robust optimization model of determining a joint optimal bundle of price and order quantity for a retailer in a two-stage supply chain under uncertainty of parameters in demand and purchase cost functions. Demand is modeled as a decreasing power function of product price, and unit purchase cost is modeled as a decreasing power function of order quantity and demand. While the general form of the power functions are given, it is assumed that parameters defining the two power functions involve a certain degree of uncertainty and their possible values can be characterized by ellipsoids. We show that the robust optimization problem can be transformed into an equivalent convex optimization which can be solved efficiently and effectively using interior-point methods. In addition, we propose a practical implementation of the model, where the stochastic characteristics of parameters are obtained from regression analysis on past sales and production data, and ellipsoidal representations of the parameter uncertainties are obtained based on a combined use of genetic algorithm and Monte Carlo simulation. An illustrative example is provided to demonstrate the model and its implementation.     

An integer programming method for the design of multi-criteria multi-action conservation plans

The design of conservation management plans is a crucial task for ensuring the preservation of ecosystems. A conservation plan is typically embodied by two types of decisions: in which areas of a given territory it will be implemented, and how actions against threats will be deployed across these areas. These decisions are usually guided by the resulting ecological benefit, their spatial effectiveness, and their implementation cost.In this paper, we propose a multi-criteria optimization framework, for modeling and solving a mixed integer programming characterization of a multi-action and multi-species conservation management design problem. The optimization tool seeks for a management plan that maximizes ecological benefit and minimizes spatial fragmentation, simultaneously, while ensuring an implementation cost no greater than a given budget.For showing the effectiveness of the methodology, we consider a case study corresponding to a portion of the Mitchell river catchment, located in northern Australia, where 31 freshwater fish species are affected by four threats.The attained results show how the methodology exploits the trade-offs among the ecological, spatial and cost criteria, enabling decision-makers to explore and analyze a broad range of conservation plans. Selecting conservation plans in a more informed way allows to obtain the best outcomes from a strategic and operational point of view.     

Contracting Under Vendor Managed Inventory Systems Using Holding Cost Subsidies

Vendor managed inventory systems are becoming increasingly popular. An important issue in implementing a vendor managed inventory scheme is the contracting terms that dictate the ownership of the inventory and the responsibility of inventory replenishment decisions. Thus the performance of a vendor managed system crucially depends on these terms and on how inventory‐related costs are shared in a supply chain. We consider a system where a manufacturer supplies a single product to a retailer who faces random demand in a competitive market. The retailer incurs a fixed cost per order, inventory holding cost, and a penalty cost for a stockout (unsatisfied demand is back‐ordered). Further, the manufacturer incurs a penalty cost when there is a stockout at the retailer and a fixed replenishment cost. We assume that the players are rational and act noncooperatively. We compare the performance of retailer managed inventory systems, where the retailer places orders and makes replenishment decisions, with vendor managed inventory systems, wherein the vendor or manufacturer makes inventory and replenishment decisions. Specifically, in the vendor managed inventory system, we propose and evaluate holding cost subsidy‐type contracts on inventories offered by the retailer to improve system performance. We evaluate this contract in the context of three widely used inventory systems—deterministic economic order quantity, continuous review (Q, r) policies, and periodic review policies—and show when such contracts may improve channel performance.