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Monte Carlo techniques have increasingly become a key method used in quantitative research. This book introduces engineers and scientists to the basics of using the Monte-Carlo simulation method which is used in Operations Research and other fields to understand the impact of risk and uncertainty in prediction and forecasting models. Monte-Carlo Simulation: An Introduction for Engineers and Scientists explores several specific applications in addition to illustrating the principles behind the m...

Decision-making is an important task no matter the industry. Operations research, as a discipline, helps alleviate decision-making problems through the extraction of reliable information related to the task at hand in order to come to a viable solution. Integrating stochastic processes into operations research and management can further aid in the decision-making process for industrial and management problems. Stochastic Processes and Models in Operations Research emphasizes mathematical tools...

Unique in its approach, Models of Network Reliability: Analysis, Combinatorics, and Monte Carlo provides a brief introduction to Monte Carlo methods along with a concise exposition of reliability theory ideas. From there, the text investigates a collection of principal network reliability models, such as terminal connectivity for networks with unreliable edges and/or nodes, network lifetime distribution in the process of its destruction, network stationary behavior for renewable components, impo...

Advances in Metaheuristics: Applications in Engineering Systems provides details on current approaches utilized in engineering optimization. It gives a comprehensive background on metaheuristic applications, focusing on main engineering sectors such as energy, process, and materials. It discusses topics such as algorithmic enhancements and performance measurement approaches, and provides insights into the implementation of metaheuristic strategies to multi-objective optimization problems. With t...

This book is for beginners who are struggling to understand and optimize non-linear problems. The content will help readers gain an understanding and learn how to formulate real-world problems and will also give insight to many researchers for their future prospects. It proposes a mind map for conceptual understanding and includes sufficient solved examples for reader comprehension. The theory is explained in a lucid way. The variety of examples are framed to raise the thinking level of the rea...

The subject of innovation has become a permanent fixture of the current political and economic discourse across the globe. In fact, the belief that economic growth is driven by innovation is common. The first half of the book adopts the viewpoint of the innovator through the details of the innovation's development journey. The second half advances this journey, where the actual running of an innovation business. Key Features:Provides a complete road map which breaks down the sequence of activ...

For students in industrial and systems engineering (ISE) and operations research (OR) to understand optimization at an advanced level, they must first grasp the analysis of algorithms, computational complexity, and other concepts and modern developments in numerical methods. Satisfying this prerequisite, Numerical Methods and Optimization: An Introduction combines the materials from introductory numerical methods and introductory optimization courses into a single text. This classroom-tested app...

Probabilistic modeling represents a subject spanning many branches of mathematics, economics, and computer science to connect pure mathematics with applied sciences. Operational research also relies on this connection to enable the improvement of business functions and decision making. Analyzing Risk through Probabilistic Modeling in Operations Research is an authoritative reference publication discussing the various challenges in management and decision science. Featuring exhaustive coverage o...

Using a style of presentation that makes even the more difficult topics easy to understand, this text covers all the important quantitative models of operations research. The formulation of problems in mathematical terms is explained, together with the solution of the resulting models, and the interpretation of results. Coverage is given of linear programming, network flows, integer programming, nonlinear programming, dynamic programming, queueing models, inventory models and discrete-event simu...

Modern logistics comprises operative logistics, analytical logistics and the management of dynamic logistic networks. The central task of operative logistics is the efficient supply of required goods at the right place in the right order at the right time. The tasks of analytical logistics are to design optimal supply networks and logistic systems, to develop strategies for planning, scheduling and operation, and to organize efficient order and performance processes. Logistic management has to p...

BREAKTHROUGH BEST PRACTICES IN GLOBAL SUPPLY CHAIN MANAGEMENT FROM WORLD-CLASS PRACTITIONERS For all supply chain decision-makers, professionals, and students Improve financial and operational performance Manage risk and ensure continuity Drive value through deeper integration Optimize logistics cost and customer responsiveness Hire and develop world-class talent This book brings together advanced supply chain practices that yield significant, enduring business advantage. It reflects exten...

Make healthcare analytics work: leverage its powerful opportunities for improving outcomes, cost, and efficiency.This book gives you thepractical frameworks, strategies, tactics, and case studies you need to go beyond talk to action. The contributing healthcare analytics innovators survey the field's current state, present start-to-finish guidance for planning and implementation, and help decision-makers prepare for tomorrow's advances. They present in-depth case studies revealing how leading or...

This case study shows how automobile manufacturers are reconsidering some "lean" approaches in the wake of events that have stretched supply chains beyond their limits. It focuses on two disasters: the devastating earthquake and tsunami that took place in Japan in March 2011 and an explosion in early 2012 at a key German chemical plant that produced a special type of resin used in fuel lines. Because many automotive companies had studiously eliminated redundant suppliers to reduce complexity and...

This case study focuses on Starbucks' challenges in integrating Fair Trade coffee into its global supply chain, empowering family farmers and workers to escape poverty. With its large market presence, Starbucks has been under pressure to increase Fair Trade imports. However, Fair Trade coffee is, by design, more expensive than similar goods. How has Starbucks approached Fair Trade? What is the real value and limitations of the Fair Trade model? What obstacles does Starbucks face in making Fair T...

This new business analytics case study challenges readers to create an optimal network design for a statewide pipeline company: a design that minimizes the amount of high-cost piping required, yet still connects all of the firm's terminals. Crystallizing realistic analytical challenges faced by companies in many industries and markets, it exposes readers to the entire decision-making process, providing opportunities to perform analyses, interpret output, and recommend the best course of action....

Operations Management and Data Analytics Modelling: Economic Crises Perspective addresses real operation management problems in thrust areas like the healthcare and energy management sectors and Industry 4.0. It discusses recent advances and trends in developing data-driven operation management-based methodologies, big data analysis, application of computers in industrial engineering, optimization techniques, development of decision support systems for industrial operation, the role of a multip...

Today, business success depends on making great decisions – and making them fast. Leading organisations apply sophisticated business analytics tools and technologies to evaluate vast amounts of data, glean new insights, and increase both the speed and quality of decision making.   In this collection, the Decision Sciences Institute (DSI) has put together its best recent research on using business analytics to make better decisions. DSI has compiled award-winning and award-nominated contributions...