6 resultados para Bivariate option

em Cambridge University Engineering Department Publications Database


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With the concerns over climate change and the escalation in worldwide population, sustainable development attracts more and more attention of academia, policy makers, and businesses in countries. Sustainable manufacturing is an inextricable measure to achieve sustainable development since manufacturing is one of the main energy consumers and greenhouse gas contributors. In the previous researches on production planning of manufacturing systems, environmental factor was rarely considered. This paper investigates the production planning problem under the performance measures of economy and environment with respect to seru production systems, a new manufacturing system praised as Double E (ecology and economy) in Japanese manufacturing industries. We propose a mathematical model with two objectives minimizing carbon dioxide emission and makespan for processing all product types by a seru production system. To solve this mathematical model, we develop an algorithm based on the non-dominated sorting genetic algorithm II. The computation results and analysis of three numeral examples confirm the effectiveness of our proposed algorithm. © 2014 Elsevier Ltd. All rights reserved.

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There is a widespread recognition of the need for better information sharing and provision to improve the viability of end-of-life (EOL) product recovery operations. The emergence of automated data capture and sharing technologies such as RFID, sensors and networked databases has enhanced the ability to make product information; available to recoverers, which will help them make better decisions regarding the choice of recovery option for EOL products. However, these technologies come with a cost attached to it, and hence the question 'what is its value?' is critical. This paper presents a probabilistic approach to model product recovery decisions and extends the concept of Bayes' factor for quantifying the impact of product information on the effectiveness of these decisions. Further, we provide a quantitative examination of the factors that influence the value of product information, this value depends on three factors: (i) penalties for Type I and Type II errors of judgement regarding product quality; (ii) prevalent uncertainty regarding product quality and (iii) the strength of the information to support/contradict the belief. Furthermore, we show that information is not valuable under all circumstances and derive conditions for achieving a positive value of information. © 2010 Taylor & Francis.