1,720,979 research outputs found
Dynamic programming with priority models for production planning with a central warehouse
No full textThis paper studies a production planning problem. A large soft-drink company in Hong Kong aims at finding a production planning model so as to minimize its inventory build-up and to maximize the demand satisfaction. We formulate the problem by using dynamic programming techniques. We further propose a heuristics model called Priority Model to reduce the computational complexity of this dynamic programming approach. Computational results based on real data sets are given to illustrate the effectiveness of our method
Modeling and model validation of the impact of the economy on the credit risk of credit card portfolios
No full textSince the global credit crunch, lenders have recognized how critical it is to assess the default risk of portfolios of consumer borrowing under different economic environments. We describe a Markov chain model for revolving consumer credit accounts based on consumers' behavioral scores that includes the impact of the economy on the risk migration of credit card accounts. We use two credit card data sets, one from Hong Kong and one from the UK, to validate the model, and hence provide empirical evidence to encourage lenders to use macroeconomic measurements to estimate the default risk in credit card portfolios. The models show how economic variables such as unemployment and price indexes have an impact, both directly, by changing the dynamics of the credit scores, and indirectly, by affecting how many credit card accounts become inactive or reactive themselves. The model also shows the difference in impact that economic changes have on transactors and revolvers. <br/
The impact of relationship marketing orientation on learning efficiency and performance in supply chains
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