Asian J. of Management Science and Applications (9 papers in press)

Regular Issues

• Developing a framework for analysing a sharing platform in a circular economy  
  by Yoshiki Nakamura, Nozomi Oomiya, Hiroki Kozu, Kin'ya Tamaki 
  Abstract: A circular economy (CE) is an economic model that emphasises the efficient use of resources and the minimisation of waste. It is primarily crucial for two reasons. First, CE practices are essential for achieving the sustainable development goals (SDGs). Second, CE significantly impacts various business aspects, including strategies, materials and product design, business models, legal systems, and enabling conditions, resulting in a substantial economic impact. This study aims to develop sharing platforms within the CE framework. The framework used for evaluating these platforms comprises five elements: strategy, cocreation value, cyclicity, creativity, and constraint and condition. To verify the effectiveness of this framework, we apply it to six growing Japanese companies. We aim to contribute to the development of the CE sharing platform.
  Keywords: circular economy; sharing platform; sustainable development goals; SDGs; case study approach.
  DOI: 10.1504/AJMSA.2024.10067545
   
  
• Evaluating the impact of loss-aversion-based risk preference and experiential learning on inventory management  
  by Jundai Koketsu, Aya Ishigaki, Koki Shimamura, Daiya Watanabe, Ryuta Takashima, Hajime Nishida 
  Abstract: This study aims to examine the effects of risk aversion and experiential learning on decision-making regarding inventory management in supply chain management. The experiment replicated the replenishment decision model in a beer game. Thirty-three subjects participated in the experiment, including students and inventory control experts from the Department of Industrial Engineering at the Tokyo University of Science. Moreover, the impact of ordering behaviour according to risk aversion on supply chain performance was investigated using agent-based simulations. After several experiments, we observed that decision-making results differed depending on the degree of risk aversion. Future research must analyse the impact of the factors identified in this study on supply chain performance.
  Keywords: risk preferences; experiential learning; inventory management; beer games.
  DOI: 10.1504/AJMSA.2025.10069799
   
  
• The interplay of green banking and banking technology: a comprehensive review  
  by Munnu Prasad V 
  Abstract: This research article examines the intersection of green banking and banking technology to ascertain whether advancements in banking technology can enhance the efficacy of green banking initiatives. The study synthesises existing literature on green banking and banking technology, analysing their interrelationship and potential synergies. Through a comprehensive review, it explores how innovative technologies can facilitate sustainable banking practices and contribute to environmental conservation. The findings suggest that integrating green banking principles with banking technology holds significant promise for promoting environmentally responsible banking operations and fostering sustainable development.
  Keywords: green banking; banking technology; sustainable banking; environmental conservation; financial innovation; digitalisation; blockchain; artificial intelligence; AI; leveraging; sustainable consumption pattern.
  DOI: 10.1504/AJMSA.2025.10070316
   
  
• Maintenance policy for series-parallel systems with two types of opportunities  
  by Zirui Wang, Lu Jin, Watalu Yamamoto 
  Abstract: Opportunistic maintenance reduces maintenance costs effectively by using chances to maintain targets with reduced costs. Such chances are called maintenance opportunities. Internal factors, such as the maintenance of units within the system, cause internal opportunities. External factors, such as the planned shutdown of the plant or lack of electricity, trigger external opportunities. Both opportunities may come with discounts on maintenance resources and activities. Most of the literature focuses only on maintenance policies with internal maintenance opportunities. This paper proposes a maintenance policy for series-parallel systems that considers both internal and external maintenance opportunities. The occurrences of internal maintenance opportunities follow semi-Markov processes, and those of external maintenance opportunities follow the homogeneous Poisson process. With a semi-Markov decision process approach, the proposed policy is optimised to minimise the expected discounted cost over an infinite horizon. An example of a three-unit series-parallel system demonstrates the effectiveness of our proposed opportunistic maintenance policy.
  Keywords: condition-based maintenance; external maintenance opportunity; internal maintenance opportunity; semi-Markov decision process; SMDP; series parallel system; state transition situation; optimal maintenance policy.
  DOI: 10.1504/AJMSA.2025.10070726
   
  
• Differences in stress reduction effects by instrument type  
  by Yoshiki Fujita, Yating Yu, Seiko Taki 
  Abstract: Psychological stress is a major social problem in Japan today. According to a report published by the Ministry of Health, Labour and Welfare in 2022, Japan has the highest suicide mortality rate among developed countries (G7). It is also the only country where suicide is the leading cause of death among those aged 1029. Therefore, stress care for young people is important. Much research has been conducted on the use of music as a means of reducing stress. However, the relationship between instrumental tones and stress reduction has not yet been clarified. This study examined the stress reduction effects of musical instrument tones based on two physiological indices: salivary amylase activity and heart rate. The study subjects were 60 young people and changes in stress levels were observed before and after listening to music. As a result, a significant difference was observed in the effect of reducing heart rate between the groups that listened to piano music and drum music, and the silence group, but not in the bass group. This study suggests that different types of musical instruments may have different stress-reducing effects.
  Keywords: stress reduction; mental health; music therapy; musical instruments; timbre; psychological stress; stress-inducing test; heart rate; salivary amylase activity; profile of mood states; POMS.
  DOI: 10.1504/AJMSA.2025.10073898
   
  
• Cost impact simulator for disassembly and reuse plans considering the reuse of recovered parts in multiple products  
  by Katsunari Ikezawa, Shingo Akasaka, Jiahua Weng 
  Abstract: Resource waste reduction is a primary concern in the manufacturing industry. Current circular supply chain models mainly harvest collected parts for reuse in the same product, which is less efficient than what is possible. Hence, this paper proposes a novel cost impact simulator for converting harvested parts for use in different products, considering their degree of functional deterioration. Lithium-ion battery (LIB) conversion is simulated to calculate potential savings in operating costs showing reductions of up to 27.4% compared with traditional models. Threshold results showed that if reuse costs were to triple, the traditional model would not provide savings, whereas the new model would withstand a four-fold increase, assuming an 80% recovery rate.
  Keywords: recycle; reuse; sustainability; circular supply chain; parts conversion; event simulation; cost impact simulator; electric vehicle; lithium-ion batteries; battery recycling.
  DOI: 10.1504/AJMSA.2025.10074211
   
  
• Application of a mixed-integer programming model for scheduling a vinegar production system: a case study  
  by Katsumi Morikawa, Yasutoshi Yajima, Mana Kanda, Baku Takahashi, Kimiko Okamoto, Youichirou Hirohata, Kenta Kasaishi 
  Abstract: The scheduling problem of a vinegar production system is formulated as a mixed-integer programming model with two objectives. The production system is composed of mixing, sterilisation, and filling processes. Demand for final products is given, and semi-finished products are produced in the mixing process. The same semi-finished product is mixed multiple times in general, and these batches are required to be seamlessly delivered to the sterilisation plate and the filling unit. Even though the sterilisation and filling operations must be scheduled in a single day, a part of the mixing operation may be scheduled on the previous day. External tanks can receive the mixed material in advance and feed to the sterilisation process the next day. Three problem instances were generated based on the record of operations of the target factory. Optimal schedules satisfied the critical features of the system and indicated the benefit of using the external tank.
  Keywords: scheduling; vinegar; mixed-integer programming model; process industry; case study.
  DOI: 10.1504/AJMSA.2025.10074403
   
  
• Pricing strategies and sustainable development in P2P sharing with demand matching mass  
  by Ting Wang, Hisashi Kurata, Yang Xiao 
  Abstract: This study examines the development of pricing strategies within the peer-to-peer (P2P) sharing economy, emphasising sustainable development and efficient demand mass matching. By integrating theoretical modelling and numerical analysis, the research identifies how platforms can enhance social welfare and economic efficiency through pricing strategies and sustainable development. Key findings suggest that higher prices lead to increased ownership and usage rates, which in turn contribute to greater economic benefits and social welfare. Moreover, the adoption of environmentally and socially responsible practices by platforms not only fosters sustainability but also increases profitability by effectively matching supply with demand. This indicates that a strategic approach to pricing and sustainability can significantly influence the performance of sharing services, benefiting both owners and renters in the sharing economy.
  Keywords: pricing strategies; P2P markets; P2P sharing; demand matching; sustainable development and social welfare.
  DOI: 10.1504/AJMSA.2025.10074614
   
  
• Two-stage optimisation for multi-task call centre daily shift scheduling  
  by Hanlin Liu, Yu Song, Xiaodong Liu 
  Abstract: This study focuses on the daily shift scheduling problem in call centres with multiple types of tasks. Although traditional set covering models are commonly applied to such problems, which require enumeration of task patterns, they often suffer from scalability issues in practice, as the growing number of task patterns leads to a rapid and substantial increase in model size and computational complexity. As a result, finding optimal solutions within a reasonable time becomes increasingly challenging. In our previous study, we employed an alternative modelling approach to generate daily shift schedules. This modelling approach does not require the use of task pattern. However, it may lead to unnecessary changes in task assignments. To address this issue, the present study proposes a two-stage model designed to minimise unnecessary changes of task type among staff while effectively reducing understaffing.
  Keywords: shift scheduling problem; multi-task; daily shift; call centre; two-stage model; optimisation.
  DOI: 10.1504/AJMSA.2025.10076905