Managing Rentals with Usage-Based Loss

Motivated by new and innovative rental business models, this paper develops a novel discrete-time model of a rental operation with random loss of inventory due to customer use. The inventory level is chosen before the start of a finite rental season, and customers not immediately served are lost. Our analysis framework uses stochastic comparisons of sample paths to derive structural results that hold under good generality for demands, rental durations, and rental unit lifetimes. Considering different \recirculation" rules | i.e., which rental unit to choose to meet each demand | we prove the concavity of the expected profit function and identify the optimal recirculation rule. A numerical study clarifies when considering rental unit loss and recirculation rules matters most for the inventory decision: Accounting for rental unit loss can increase the expected profit by 7% for a single season and becomes even more important as the time horizon lengthens. We also observe that the optimal inventory level in response to increasing loss probability is non-monotonic. Finally, we show that choosing the optimal recirculation rule over another simple policy allows more rental units to be profitably added, and the profit-maximizing service level increases by up to 6 percentage points.

Modelo institucional do processo de estruturação de empresas de desenvolvimento de software: um estudo de múltiplos casos

Some authors have shown the need of understanding the technological structuring process in contemporary firms. From this perspective, the software industry is a very important element because it provides products and services directly to many organizations from many fields. In this case, the Brazilian software industry has some peculiarities that distinguish it from other industries located in developed countries, which makes its understanding even more relevant. There is evidence that local firms take different strategies and structural configurations to enter into a market naturally dominated by large multinational firms. Therefore, this study aims to understand not only the structural configurations assumed by domestic firms but also the dynamic and the process that lead to these different configurations. To do so, this PhD dissertation investigates the institutional environment, its entities and the isomorphic movements, by employing an exploratory, descriptive and explanatory multiple cases study. Eight software development companies from the Recife's information technology Cluster were visited. Also, a form was applied and an interview with one of the main firm s professional was conducted. Although the study is predominantly qualitative, part of the data was analyzed through charts and graphs, providing a companies and environment overview that was very useful to analysis done through the interviews interpretation. As a result, it was realized that companies are structured around hybrids business models from two ideal types of software development companies, which are: software factory and technology-based company. Regarding the development process, it was found that there is a balanced distribution between the traditional and agile development paradigm. Among the traditional methodologies, the Rational Unified Process (RUP) is predominant. The Scrum is the most used methodology among the organizations based on the Agile Manifesto's principles. Regarding the structuring process, each institutional entity acts in such way that generates different isomorphic pressure. Emphasis was given to entities such as customers, research agencies, clusters, market-leading businesses, public universities, incubators, software industry organizations, technology vendors, development tool suppliers and manager s school and background because they relate themselves in a close way with the software firms. About this relationship, a dual and bilateral influence was found. Finally, the structuring level of the organizational field has been also identified as low, which gives a chance to organizational actors of acting independently

Vastuullinen ja innovatiivinen hankintatoimi kilpailukyvyn lähteenä - Kyselytutkimus

Tämä raportti on yhteenveto VINKKI - Vastuullinen ja innovatiivinen hankintatoimi kilpailukyvyn lähteenä –tutkimusprojektissa toteutetun kyselyn tuloksista. Kysely toteutettiin keväällä ja kesällä 2015. Kyselytutkimus on osa laajaa tutkimuskokonaisuutta. VINKKI-projekti on Lappeenrannan teknillisen yliopiston tutkimus, jota rahoittavat TEKES ja projektissa mukana olevat organisaatiot. Projektin tarkoituksena on selvittää, kuinka toimittajamarkkinoita voidaan kehittää strategisen ja innovatiivisen hankintojen johtamisen kautta siirryttäessä kohti vastuullisempia toimintamalleja. Kyselytutkimuksen tärkeimpänä tavoitteena oli saada läpileikkaus vastuullisen hankintatoimen tilasta sekä sen riskeistä ja toimintamallista suomalaisissa valmistavan teollisuuden yrityksissä.

Are we asking the right questions? Rethinking post-graduate design education towards sustainable visions for the future

Our society is currently facing complex challenges, such us climate change, loss of biodiversity, ageing population, unemployment, to name but a few. This has created growing expectations on designers and engineers to explore, experiment and implement innovative solutions to such issues. At this critical time, if we want design to be part of the solution, we need to wonder whether we are asking designers suitable and sustainable questions. Both in post-graduate design education and in business, the brief still overwhelmingly requires designers to follow a linear problem-solving approach that focuses on product rather than strategies, services and systems. Traditional design briefs result no longer appropriate to face the challenges of our unsustainable world, as they relate to market, growth economy and human needs rather than society, business models and the needs of nature. Instead, we need to be asking questions about, for example, how we create sustainable business opportunities, how we overcome the barriers for change, or how we facilitate the process of innovation through design methodology. If the role of design is to create new visions and outline strategic directions towards a sustainable future world - for policy makers, businesses, communities and individual citizens – we need those stakeholders to create briefs for designers that allow them to do that. This paper will explain how the reframing of questions has been embedded into SustainRCA’s teaching practice in post-graduate design, art and engineering, leading to the development of new tools and methods, as well as some innovative outcomes

A network approach to overcoming barriers to market engagement for SMEs in energy efficiency initiatives such as the Green Deal

The Green Deal (GD) was launched in 2013 by the UK Government as a market-led scheme to encourage uptake of energy efficiency measures in the UK and create green sector jobs. The scheme closed in July 2015 after 30 months due to government concerns over low uptake and industry standards but additional factors potentially contributed to its failure such as poor scheme design and lack of understanding of the customer and supply chain journey. We explore the role of key delivery agents of GD services, specifically SMEs, and we use the LoCal-Net project as a case study to examine the use of networks to identify and reduce barriers to SME market engagement. We find that SMEs experienced multiple barriers to interaction with the GD such as lack of access to information, training, and confusion over delivery of the scheme but benefited from interaction with the network to access information, improve understanding of the scheme, increasing networking opportunities and forming new business models and partnerships to reduce risk. The importance of SMEs as delivery agents and their role in the design of market-led schemes such as the GD are discussed with recommendations for improving SME engagement in green sector initiatives.

Virtual Research Environments Roundtable

The roundtable offered an opportunity to share experiences and perceptions of virtual research environments. John Doove (SURFfoundation) presented his impressions from the VRE projects. Jim Farmer, Instructional Media + Magic led a 50 minute discussion on key developments and challenges. The discussion included issues like: An emerging issue is the sharp and continuous increase of data in an era of limited resources. These increases often reduce the effectiveness of search-additional time is required to find expected results. Would new methods of search may be useful? Should this be included as services in a VRE? The form of much new 'knowledge' is in informal 'publications' such as blogs, email, audio, and video which lack the precise metadata of books and journal articles. Could VRE services assist in using these resources as well? The programme continued with discussions on business models for sustainability led by Birte Christensen-Dalsgaard, The Royal Library, and policy and funders' interventions led by Sigrun Eckelmann, DFG.

Submission Fees - A Tool in the Transition to Open Access?

Knowledge Exchange examined different routes in achieving the vision of 'having a layer of scholarly and scientific content openly available in the internet'. One of these routes involves exploring new developments in the future of publishing. Work is being undertaken investigating interesting alternative business models which could contribute to the transition to open access. In this light KE has commissioned a study investigating whether submission fees could play a role in a business model for Open Access journals. The general conclusion of the report bearing the title ‘Submission Fees a tool in the transition to open access?', written by Mark Ware, is that there are benefits to publishers in certain cases to switch to a model in which an author pays a fee when submitting an article. Especially journals with a high rejection rate might be interested in combining submission fees with article processing charges in order to make the transition to open access easier. In certain disciplines, notably economic and finance journals and in some areas of the experimental life sciences, submission fees are already common. Overall there seems to be an interest in the model but the risks, particularly those involved in any transition, are seen by the publishers to outweigh the perceived benefits. There is also a problem in that the advantages offered by submission fees are often general benefits that might improve the system but do not provide publishers and authors with direct incentives to change to open access. To support transition funders, institutions and publication funds could make it clear that submission fees would be an allowable cost. At present this is often unclear in their policies. Author acceptance of submission fees is critical to its success. It is an observable fact that authors will accept them in some circumstances. Author acceptance would require further study though. Based on the interviews and the modelling in the study one model in particular is regarded as the most suitable way to meet the current requirements (i.e. to strengthen open access to research publications). In this model authors pay a submission fee plus an Article Processing Fee and the article is subsequently made available in open access. Both fees are set at levels that balance acceptability with the author community with securing a meaningful mix of revenues for the Publisher.

Uudelleenkäytettävän kuljetuspakkauksen liiketoimintamalli

Tässä työssä tutkitaan uudelleenkäytettävän kuljetuspakkauksen liiketoimintamahdollisuutta. Esimerkkinä tutkimuksessa on todellinen tilanne Suomalaisen kalustealan yrityksen pakkausprosessista. Tavoitteena on laatia liiketoimintamalli, jota hyödyntämällä voidaan aloittaa liiketoimintakumppanuus pakkausten käytössä. Työssä tutkitaan pakkauksen ja pakkaamisen nykytilanne ja tutkitaan mahdollisia hyötyjä yleisesti, sekä mahdollisia liiketoimintamalleja pakkauksen käyttöönottoon. Nykytilassa pakkaaminen kertakäyttöpakkaukseen on kustannustehoton ja käytettävyydeltään ongelmallinen ratkaisu. Pakkauksen käyttöönotto mahdollistaa merkittävän parannuksen pakkausprosessiin. Työn tuloksena esitellään kolme liiketoiminta mallia. Yksi liiketoimintamalleista on perustellusti toimivin ja sitä ehdotetaan käyttöönotettavaksi uudelleenkäytettävän pakkauksen käytössä kalusteiden kuljettamiseen. Mallissa kuljetuspakkaus toimii ammattilaistyökaluna sisäisesti omistajansa, eli tuotteita valmistavan yrityksen, sekä kuljetusyrityksen kesken. Kapea-alaista ratkaisua perustellaan mm. selkeällä kulurakenteella ja kokemuksen puutteella konseptin ja tuotteen toimivuudesta. Malli mahdollistaa koealustan pakkauksen käytölle ja lisäkokemus pakkauksen todellisesta toimivuudesta voi muuttaa liiketoimintamallia jatkossa laajempialaiseksi.

A Wel(l)come development: research funders and open access

This paper discusses the implications of the Wellcome Trust agreement with Blackwell, OUP and Springer in which authors of accepted papers are able to pay an open-access publication charge to make their article freely available online. In bringing together flexible licence terms and clear funding streams, the agreement has the potential to be used as a way of migrating towards possible new business models for journal publishing. It also has the potential, if implemented more widely, to deliver greater open access in such a way as to work in the interests of a broad range of stakeholders.

Consequences of big data on the individual: Interview

The speed with which data has moved from being scarce, expensive and valuable, thus justifying detailed and careful verification and analysis to a situation where the streams of detailed data are almost too large to handle has caused a series of shifts to occur. Legal systems already have severe problems keeping up with, or even in touch with, the rate at which unexpected outcomes flow from information technology. The capacity to harness massive quantities of existing data has driven Big Data applications until recently. Now the data flows in real time are rising swiftly, become more invasive and offer monitoring potential that is eagerly sought by commerce and government alike. The ambiguities as to who own this often quite remarkably intrusive personal data need to be resolved – and rapidly - but are likely to encounter rising resistance from industrial and commercial bodies who see this data flow as ‘theirs’. There have been many changes in ICT that has led to stresses in the resolution of the conflicts between IP exploiters and their customers, but this one is of a different scale due to the wide potential for individual customisation of pricing, identification and the rising commercial value of integrated streams of diverse personal data. A new reconciliation between the parties involved is needed. New business models, and a shift in the current confusions over who owns what data into alignments that are in better accord with the community expectations. After all they are the customers, and the emergence of information monopolies needs to be balanced by appropriate consumer/subject rights. This will be a difficult discussion, but one that is needed to realise the great benefits to all that are clearly available if these issues can be positively resolved. The customers need to make these data flow contestable in some form. These Big data flows are only going to grow and become ever more instructive. A better balance is necessary, For the first time these changes are directly affecting governance of democracies, as the very effective micro targeting tools deployed in recent elections have shown. Yet the data gathered is not available to the subjects. This is not a survivable social model. The Private Data Commons needs our help. Businesses and governments exploit big data without regard for issues of legality, data quality, disparate data meanings, and process quality. This often results in poor decisions, with individuals bearing the greatest risk. The threats harbored by big data extend far beyond the individual, however, and call for new legal structures, business processes, and concepts such as a Private Data Commons. This Web extra is the audio part of a video in which author Marcus Wigan expands on his article "Big Data's Big Unintended Consequences" and discusses how businesses and governments exploit big data without regard for issues of legality, data quality, disparate data meanings, and process quality. This often results in poor decisions, with individuals bearing the greatest risk. The threats harbored by big data extend far beyond the individual, however, and call for new legal structures, business processes, and concepts such as a Private Data Commons.

Las carencias de la prensa tradicional, un lastre para el periodismo emprendedor

Introducción: La prensa tradicional ha heredado a la digital cuatro retos; cada uno de ellos es objeto de análisis en esta investigación: atraer nuevos lectores con narrativas informativas multimedia, generar estrategias de proximidad con sus usuarios, crear nuevos modelos de negocio y proyectarse como espacio profesional que refleje la feminización de la carrera de periodismo. Metodología: Este artículo presenta los resultados de un análisis de contenido aplicado a 281 medios creados por el periodismo emprendedor. Resultados y conclusiones: Los resultados de este estudio constatan que el periodismo emprendedor no ha innovado en la presentación de la información (utiliza como principal reclamo la imagen fija). Adoptan el mismo modelo de negocio basado en la publicidad. Carecen de canales para establecer feedbacks con los usuarios. Por último, igual que el medio en papel, no es un espacio para el empoderamiento femenino.

Modelo institucional do processo de estruturação de empresas de desenvolvimento de software: um estudo de múltiplos casos

Some authors have shown the need of understanding the technological structuring process in contemporary firms. From this perspective, the software industry is a very important element because it provides products and services directly to many organizations from many fields. In this case, the Brazilian software industry has some peculiarities that distinguish it from other industries located in developed countries, which makes its understanding even more relevant. There is evidence that local firms take different strategies and structural configurations to enter into a market naturally dominated by large multinational firms. Therefore, this study aims to understand not only the structural configurations assumed by domestic firms but also the dynamic and the process that lead to these different configurations. To do so, this PhD dissertation investigates the institutional environment, its entities and the isomorphic movements, by employing an exploratory, descriptive and explanatory multiple cases study. Eight software development companies from the Recife's information technology Cluster were visited. Also, a form was applied and an interview with one of the main firm s professional was conducted. Although the study is predominantly qualitative, part of the data was analyzed through charts and graphs, providing a companies and environment overview that was very useful to analysis done through the interviews interpretation. As a result, it was realized that companies are structured around hybrids business models from two ideal types of software development companies, which are: software factory and technology-based company. Regarding the development process, it was found that there is a balanced distribution between the traditional and agile development paradigm. Among the traditional methodologies, the Rational Unified Process (RUP) is predominant. The Scrum is the most used methodology among the organizations based on the Agile Manifesto's principles. Regarding the structuring process, each institutional entity acts in such way that generates different isomorphic pressure. Emphasis was given to entities such as customers, research agencies, clusters, market-leading businesses, public universities, incubators, software industry organizations, technology vendors, development tool suppliers and manager s school and background because they relate themselves in a close way with the software firms. About this relationship, a dual and bilateral influence was found. Finally, the structuring level of the organizational field has been also identified as low, which gives a chance to organizational actors of acting independently

Can open access repositories and peer-reviewed journals coexist?

It is often assumed that open access repositories and peer-reviewed journals are in competition with each other and therefore will in the long term be unable to coexist. This paper takes a critical look at that assumption. It draws on the available evidence of actual practice which indicates that coexistence is possible at least in the medium term. It discusses possible future models of publication and dissemination which include open access, repositories, peer review and journals. The paper suggests that repositories and journals may coexist in the long term but that both may have to undergo significant changes. Important areas where changes need to occur include: widespread deployment of repository infrastructure, development of version identification standards, development of value-added features, new business models, new approaches to quality control and adoption of digital preservation as a repository function.

ADVERTISEMENT ALLOCATION AND TRUST MECHANISMS DESIGN IN SOCIAL NETWORKS

Social network sites (SNS), such as Facebook, Google+ and Twitter, have attracted hundreds of millions of users daily since their appearance. Within SNS, users connect to each other, express their identity, disseminate information and form cooperation by interacting with their connected peers. The increasing popularity and ubiquity of SNS usage and the invaluable user behaviors and connections give birth to many applications and business models. We look into several important problems within the social network ecosystem. The first one is the SNS advertisement allocation problem. The other two are related to trust mechanisms design in social network setting, including local trust inference and global trust evaluation. In SNS advertising, we study the problem of advertisement allocation from the ad platform's angle, and discuss its differences with the advertising model in the search engine setting. By leveraging the connection between social networks and hyperbolic geometry, we propose to solve the problem via approximation using hyperbolic embedding and convex optimization. A hyperbolic embedding method, \hcm, is designed for the SNS ad allocation problem, and several components are introduced to realize the optimization formulation. We show the advantages of our new approach in solving the problem compared to the baseline integer programming (IP) formulation. In studying the problem of trust mechanisms in social networks, we consider the existence of distrust (i.e. negative trust) relationships, and differentiate between the concept of local trust and global trust in social network setting. In the problem of local trust inference, we propose a 2-D trust model. Based on the model, we develop a semiring-based trust inference framework. In global trust evaluation, we consider a general setting with conflicting opinions, and propose a consensus-based approach to solve the complex problem in signed trust networks.