Forthcoming articles


International Journal of Decision Sciences, Risk and Management


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International Journal of Decision Sciences, Risk and Management (7 papers in press)


Regular Issues


  • A fuzzy AHP approach to risk assessment in manganese mines of India   Order a copy of this article
    by Shikha Verma, Sharad Chaudhari 
    Abstract: Mining has always been a dangerous occupation. Operations performed in ore extraction and processessing are highly risky in nature. The presence of potential hazards associated with considerable level of risk, leading to injuries and fatalities, makes workplace and personnel safety an issue of concern for this sector. This industry has shown considerable growth in past few decades, to maintain the upward trend in its growth; safe working environment has become a necessity. In the present article, Fuzzy Analytical Hierarchy Process (FAHP) for risk assessment is presented. The aim of this work is to identify potential hazards in mining sites, and prioritise them based on evidence of their risky behaviour. This work presents the database for health and safety hazards and their ranking based on the identified risk priorities in underground and opencast manganese mines in Madhya Pradesh and Maharashtra regions of India. The outcome of the proposed approach is hazard priorities, which can aid safety analysts to understand the precedence of severity associated with the hazards so that mitigation plans to treat them can be formulated. This can enhance the level of preparedness in this industry against any sudden and unfavorable event like accidents.
    Keywords: hazards; mining safety; accident; personnel safety; injury; fuzzy AHP.

  • Multi-criteria decision-making for purchasing cell phones using a machine learning approach   Order a copy of this article
    by Sachi Mohanty, Sarita Mohanty, Kriti Shree 
    Abstract: The process of cell phone selection for purchasing is a multi-criteria decision-making (MCDM) problem with conflicting and diverse objectives. This paper discusses various techniques using a machine learning approach. To begin, participants responded to a questionnaire showing the different latest features available in a cell phone. Seven independent input variables, cost, talk-time, rear camera, weight, size, memory and operating system, were then derived from participants' responses. Linguistic terms such as low, medium and high were used to represent each of the input variables. Using the Mamdani approach, both a traditional fuzzy reasoning tool (FLC) and a neuro-fuzzy system (ANFIS) were designed for three input and one output processes. The neuro-fuzzy system was trained using a back-propagation algorithm. Comparing the two traditional fuzzy reasoning tools, the artificial neural network approach (ANN) and the neuro-fuzzy system could provide better accuracy for selecting a cell phone for personal use.
    Keywords: cell phone selection; MDCM; ANN; ANFIS; FLC.

  • Governing the sustainability transition towards a circular economy of eco-industrial parks: a conceptual model for the role of management agencies of industrial estates   Order a copy of this article
    by Yannis Mouzakitis 
    Abstract: The transformation of existing industrial parks towards a more sustainable form is the subject of a significant number of policy plans in all industrialised countries. One of the main directions of this transition is the concept of eco-industrial park, where individual firms cooperate with each other and with the local community, in order to develop symbiotic schemes (based on exchanges of material, energy and wastes) and achieve increased environmental and economic performance. We see the transformation of conventional industrial estates towards an eco-industrial form as a sustainability transition, where a broad range of actors is expected to cooperate, and we focus on the role of the park management agency, whose importance has been stressed in the related literature. Towards this end, we develop a conceptual framework that seeks to describe its role in the transition, and we discuss its basic building blocks (tasks and interventions, risks and barriers, drivers and catalysts) from an organisational and interventionist perspective.
    Keywords: sustainability management; sustainability transition; circular economy; eco-industrial parks; industrial ecology; industrial symbiosis; industrial estates.

  • Towards an order-related allocation of profit in networked manufacturing structures   Order a copy of this article
    by Hendrik Jähn 
    Abstract: The goal of most economic activities is to draw profit. While the problem of the allocation of profit usually does not arise in classical enterprises, this is one major challenge within collaborative networks. The reason is the multitude of involved enterprises. In this contribution, a variety of approaches for allocating profit to the network participants are presented. Here the application in value-added process-specific configured manufacturing and production networks consisting of many independent very small, small and medium-sized enterprises is assumed. These approaches for profit allocation are based on both on two- and three-component-allocation models that take into consideration the profit expectations of the network participants to a certain degree, as well as the corresponding value-added shares and the number of participating enterprises in the networked value-added process. The variety of approaches delivers a toolset for the application if required.
    Keywords: manufacturing network; network controlling; profit allocation; small and medium sized enterprises; quantitative methods.

Special Issue on: HOU MBA Programme Business Administration

  • Strategic management in times of crisis: the case of marble enterprises in the prefecture of Drama, Greece.   Order a copy of this article
    by Maria Tsertsi, George Zobolas 
    Abstract: Every enterprise, consciously or not, in an explicit form or otherwise, follows a strategy. The main purpose of this paper is to provide a clear insight as to whether and which kind of strategies have been applied by the marble enterprises operating in the prefecture of Drama, Greece, in order for them to cope with the crises (global and national) that have emerged in recent years. The structure of the marble industry of Drama is outlined in terms of the economic sector of activity and legal form. Covering a six-year period (from 2008 to 2013) of data relating to commercial (i.e. exporting, for the greater part) activities for key Drama enterprises in conjunction with the views of specially selected leaders of the local industry, an attempt has been made to verify the existence of and, in continuation, to recognise the main competitive advantage of, the said industry. The extent to which strategic management principles have been or are being applied by the above companies in regard to their international expansion, as well as coping with the global and national crises, is defined, and the undertaken strategies are evaluated as to their degree of fit in the industry and their contribution to the overall efficiency of the companies.
    Keywords: strategic management; marble companies management; marble enterprises management; Drama marble enterprises; Drama marble companies; Greece marble enterprises; Greece marble companies.

  • The role of China in the global shipping industry, with emphasis on the dry bulk market   Order a copy of this article
    by Georgia Kompougia, Dimitrios Kyrkilis 
    Abstract: This paper examines the role of China in the development of the global maritime industry, focusing on the dry bulk market. The gradual reforms of the Chinese economy, starting from the late 70s until the countrys accession to the World Trade Organization in 2001, triggered an unprecedented growth of all sectors of the shipping industry, with the dry bulk sector being at the epicentre of the trading boom. China became one of the main driving forces of the demand and supply of ship transportation. An econometric model has been developed to test the validity of the theoretical analysis. Through a multiple regression model, a series of Chinese economy-related variables, potential drivers of the demand and supply of ship transportation, have been estimated as to their effect on the dry bulk market earnings using the OLS technique. Six of these factors, including the Chinese industrial production growth, the Chinese dry bulk seaborne imports, the Chinese-owned dry bulk fleet, and the Chinese shipyards output, are proved to be statistically significant determinants of the dry bulk vessels earnings. The evaluation of the regression results provides sufficient comfort in relation to the validity of the conclusions.
    Keywords: China; shipping; dry bulk market; ship transportation; multiple regression.

  • Greek public airports efficiency assessment using DEA modelling: factors influencing efficiency and economic recession environment (2009-2014) implications   Order a copy of this article
    by Athanasios Kasioras 
    Abstract: Airports are an essential part of the air transport system. The Greek airport network is mainly a public organisational system, with the most important part of it currently transformed into a privately operated subsystem. The present work aims to provide an efficiency assessment of Greek Public Airports, operated by the Hellenic Civil Aviation Authority (HCAA) for the years 2009-2014. The technical efficiency is estimated in a relative manner using the non-parametric method of Data Envelopment Analysis (DEA), establishing which airports operate relative efficiently and which are inefficient. Airports are assessed as uniform production and decision making units and additionally with respect to the two well recognised and defined processes, airside and landside. Particular emphasis is given to the relative importance of inputs and outputs, whilst focusing in the efficiency improvement through output maximisation efforts.
    Keywords: airport; aviation; Greece; data envelopment analysis; decision making unit; technical efficiency; airside efficiency; landside efficiency.