Asian J. of Management Science and Applications (5 papers in press)
Evolution and interaction in a business model: The case of inkjet printers in Japan
by Yoshihiro Ito
Abstract: The purpose of this paper was to shed light on the process through which the business model of a certain industry evolves due to interaction caused mainly by competition among companies. To this end, I conducted a detailed investigation and analysis based on interviews with representatives of companies in the inkjet-printer business in Japan. I was able to break down the evolution of the business model into five stages, and provide details of the structure of the business model at each stage and the process through which it evolves. I performed a theoretical analysis of the logic and mechanisms of this evolution.
Keywords: Business model; Evolution of business model; Inkjet printer; Two part tariff; Case study; Japanese market.
Trend of selling space layout and passing customer efficiency in recent Japanese supermarkets
by Masao Ohta, Yoshiyuki Higuchi
Abstract: Japanese companies have accumulated know-how on methods of supermarkets and are causing expansion of the supermarkets to Asia. This study aims to assess what's really going on the selling space layout in Japanese supermarkets. The layout information of newest opening and remodeling 498 stores is picked up. Most all of stores have a square shape sales floor. We focus the selling magnet concept which shows understanding the critical relationship between food products and selling spaces. We classified the layout information and divided stores into two types, standard and minority type. To understand the feature of the two types, we investigated the passing customers of the main selling zone in typical 2 type stores and show passing customer efficiency as a case study. The difference between two types is confirmed, customers are widely distributed in the standard type store, on the other hand customers are disproportionately distributed in the minority type store. This paper mentions some of their competitive advantages.rnrn
Keywords: supermarket; selling space layout; selling magnet; passing customers.
Analytical Methods for Perfect Partition by Set Theory
by Rongxin Zhan, Dongni Li, Hongbo Jin, Xiaoyu Jia
Abstract: A recent interesting paper was published by Yin et al. (2014). They developed a structural architecture to investigate the previous literature with three types of research problems what, why, and how. They utilized simple but rigorous set theory to define CM concepts, such as part family, machine cell, cellular manufacturing system, bottleneck machines. Then, they deduced sufficient and necessary conditions for perfectly partitioned cellular manufacturing systems. An algorithm was proposed to get perfectly partitioned manufacturing cells. The objective of this paper is to overcome the two problems in Yin et al. (2014)s research. Firstly, we modify their algorithm to get perfectly partitioned manufacturing cells. Then we extend the analysis from machine groups to a cellular manufacturing system and compare the results with the ones of Yin et al. (2014). Based on the analysis of our new model, we propose a new algorithm to generate perfectly partitioned manufacturing cells.
Keywords: Group technology; cellular manufacturing; set theory; job shops; flow shops.
Efficient Optimization for Portfolio Selections under Prospect Theory
by Xiangming Xi, Chao Gong, Chunhui Xu, Shuning Wang
Abstract: The prospect theory (PT) is one of the most useful tools for portfolio optimization. The main concept of PT is to use a S-shaped value function to depict how human beings' mental behaviour affect their investment decisions under different risk levels. However, the complexity in the theory results in the difficulty in the proposal of efficient algorithms for global optimization. In order to make improvements, we first approximate the S-shaped value function in PT with a piecewise linear (PWL) surrogate model, and equivalently transform the resulted problem into a continuous concave piecewise linear maximization problem. Despite of the non-smoothness and non-convexity of the problem, we propose two local search algorithms based on the interior point method, and present the theoretical analysis on the convergence. Moreover, we propose a global search algorithm based on the proposed local search algorithms and the $gamma$ valid cut method in concave optimization. The numerical experiments on the historical data of different assets obtained from Yahoo concern the comparisons of the proposed algorithms and the existing methods in the literature. The results confirm the performances of the proposed algorithm on efficiency and accuracy.
Keywords: Portfolio Optimization; Prospect Theory; Interior Point Methods; Global Optimization.
Optimal operation and supply chain coordination in a closed-loop supply chain with loss-averse attitude
by Etsuko Kusukawa
Abstract: From social concerns about 3R activity worldwide, it is urgently-needed to construct a closed-loop supply chain(CLSC). It is necessary to consider the negative range of profit due to the uncertain product demand for the optimal operation in the CLSC. This paper proposes the optimal operation for a CLSC with loss-averse attitude of the decision makers profit. A retailer collects used products from customers by paying an incentive, a manufacturer produces recycled parts with acceptable quality and compensates a part of the collection cost to the retailer. This paper discusses some loss-averse attitude(LAA)s of the decision makers profit. Using loss-averse analysis, the optimal operations regarding the product order quantity, the unit collection incentive, and the lower limit of quality level under the decentralized CLSC(DCLSC) and the integrated CLSC(ICLSC) are determined. The analysis numerically investigates the effects of LAAs on the optimal operations and benefits of profit sharing approaches under ICLSC.
Keywords: supply chain management; closed-loop supply chain; uncertain demand; loss aversion; prospect theory; profit sharing.