- Research Article
- 10.1287/opre.1110.0925
Contributors
- Feb 01, 2011
- Operations Research
- Sandro Bosio
Contributors
The sequential and stochastic assignment problem (SSAP) has wide applications in logistics, finance, and health care management, and has been well studied in the literature. It assumes that jobs with unknown values arrive according to a stochastic process. Upon arrival, a job's value is made known and the decision-maker must immediately decide whether to accept or reject the job and, if accepted, to assign it to a resource for a reward. The objective is to maximize the expected reward from the available resources. The optimal assignment policy has a threshold structure and can be computed in polynomial time. In reality, there exist situations in which the decision-maker may postpone the accept/reject decision. In this research, we study the value of postponing decisions by allowing a decision-maker to hold a number of jobs which may be accepted or rejected later. While maintaining this queue of arrivals significantly complicates the analysis, optimal threshold policies exist under mild assumptions when the resources are homogeneous. We illustrate the benefits of delaying decisions through higher profits and lower risk in both cases of homogeneous and heterogeneous resources.
Contributors
Contributors
Doubly Stochastic Sequential Assignment Problem
This article introduces the Doubly Stochastic Sequential Assignment Problem (DSSAP), an extension of the Sequential Stochastic Assignment Problem (SSAP), where sequentially arriving tasks are assigned to workers with random success rates. A given number of tasks arrive sequentially, each with a random value coming from a known distribution. On a task arrival, it must be assigned to one of the available workers, each with a random success rate coming from a known distribution. Optimal assignment policies are proposed for DSSAP under various assumptions on the random success rates. The optimal assignment algorithm for the general case of DSSAP, where workers have distinct success rate distribution, has an exponential running time. An approximation algorithm that achieves a fraction of the maximum total expected reward in a polynomial time is proposed. The results are illustrated by several numerical experiments. © 2016 Wiley Periodicals, Inc. Naval Research Logistics 63: 124–137, 2016
Read moreThe Role of the "Money Tracker: Expense & Budget" Based Financial Recording Application and Business Financial Management on the Quality of Financial Reports in Keripik Singkong Mbak Ros MSME
This study was conducted to analyze the role of the Money Tracker: Expense & Budget-based financial recording application on the quality of financial reports in Keripik Singkong Mbak Ros MSME. This study used a quantitative method with a series of tests on the research hypothesis. The results showed that the use of the Money Tracker Application had a significant effect on the quality of financial reports partially with a calculated t value of 3.782 > t table value of 1.796 and sig. 0.003 < 0.05. While business financial management partially did not have a significant effect on the quality of financial reports with a calculated t value of 0.628 < t table value of 1.796 and sig. 0.543 > 0.05. However, simultaneously both had a significant effect on the quality of financial reports with a contribution of 57.2%. So it was concluded that the application of the Money Tracker: Expense & Budget-based financial recording application and Business Financial Management had a significant effect on the Quality of Financial Reports of Keripik Singkong Mbak Ros MSME. It is recommended that MSMEs consistently use financial applications and improve their financial management literacy to strengthen their competitiveness. Keywords: Financial Recording; Financial Management; Financial Report Quality; Money Tracker
Read moreLogistics Management System using Big Data Analytics
Nowadays, the e-commerce sector has emerged as a significant player in the current financial landscape. It offers a wide range of advantages for global customers, and given the increasing demand for various services and products, there is a pressing need for the development of efficient Web applications. This e-commerce application serves as the bridge between small businesses and their clientele. The application harnesses the capabilities of various technologies, including MongoDB for data storage, Node.js and Express.js for a fast and efficient backend, and HTML CSS for constructing a user-friendly interface for clients. This thesis underscores the proficiency of the (MongoDB, Express.js, HTML, CSS, Node.js) technology stack in the creation of a comprehensive e-commerce application with robust scalability options. The study delves into a meticulous development process, spanning from the backend to the frontend. The results unequivocally underscore the indispensable role in crafting a customizable Web application. We have also investigated the realm of big data analytics and its applications in logistics and supply chain management. It delves into innovative methods, practices, and prospects within this field. The articles within this collection scrutinize multiple avenues for enhancing big data analytics and its applications in logistics and supply chain management. These include the exploration of technology-centric tracking approaches, the examination of the correlation between financial performance and data-driven supply chains, as well as the assessment of implementation challenges and the maturity of supply chain capabilities in the context of big data.
Read moreMapping the role of financial management in healthcare: Bibliometric analysis of Middle Eastern region
The study aims to emphasize the importance of financial management within the healthcare sector using bibliometric analysis techniques like influential authors, countries, journals, and publications. The researcher used the Scopus database for the extraction of required data. For this purpose, several relevant keywords and synonyms related to financial management in healthcare were used as advanced search options in the Scopus database. The bibliometric keyword cluster analysis indicated that financial management plays a significant role in health insurance, funding, cost, expenses, financing, and insurance related to healthcare units in Middle Eastern regions. The most influential top 5 countries for research in the financial management of healthcare units in the Middle Eastern region are Iran, Lebanon, Egypt, UAE, and Saudi Arabia respectively. Similarly, the most influential journal in this domain is “Eastern Mediterranean Health Journal published by World Health Organization”. Additionally, the most influential authors in this research domain are Ammar, Walid S from Lebanon, and Rashidian, Arash from Iran. The findings of this bibliometric study are specifically important for practitioners, administrators, and policymakers in the healthcare sector of the Middle East region for making valuable decisions regarding financial management practices.
Read moreA bibliometric analysis of IoT applications in logistics and supply chain management
A bibliometric analysis of IoT applications in logistics and supply chain management
Peningkatan Produktivitas Melalui Pengembangan Aplikasi Pengelolaan Keuangan pada Sade Arch Design dan Building
Purpose – This article presents a community service initiative focused on enhancing financial management at SADE Arch Design & Building Micro, Small, and Medium Enterprises (MSMEs) through the implementation of a unique financial management application. Design/methodology/approach – The service activities spanned four stages: conducting Focus Group Discussions, developing the application, introducing it to partners, and evaluating its usage. The approach involved delivering both the developed financial management application and comprehensive training to the SADE Arch Design & Building MSMEs. Findings – The result of this service activity is the establishment of a financial management application equipped with various features that help SADE Arch Design & Building in preparing financial reports more easily and improve their financial management skills. In addition, this activity also helps SADE Arch Design & Building in improving financial understanding, practical application, measuring performance, strategic planning, and legal compliance. Originality/value – This service activity has a positive impact on improving the financial literacy of MSMEs, especially SADE Arch Design & Building, through the development of Microsoft Excel-based financial management applications. With the application of technology and innovative approaches, this activity has succeeded in increasing the efficiency and accuracy of financial reports, providing concrete solutions to traditional constraints in MSME financial management. is a solution to overcome the problems faced by MSMEs in Malang City.
Read moreANALISA PEMANFAATAN APLIKASI KEUANGAN ONLINE SEBAGAI MEDIA UNTUK MENGELOLA ATAU MEMANAJEMEN KEUANGAN
Abstract:
 The existence of information technology provides many benefits in many aspects of life, especially if we are able to maximize the use of such technology, one of which is the emergence of online financial management applications as a medium to manage or manage finance both personal and business finance. This online financial application makes it very easy to plan budgets and record expenses as well as to make financial statements. In this study, online financial applications include financial applications that help manage personal or individual finances, families as well as businesses such as online financial applications Bukukas, BukuWarung, Keuanganku and Money Lover. The research method used in this study is a semi descriptive quantitative method. Where the purpose in this research is to explain the utilization of online financial applications as a medium for managing and managing finance. Online financial applications such as BukuKas, BukuWarung, FInansialku and also Money Lover proved very useful in managing or managing personal finances or individuals, families and also UMKM well, namely in terms of managing income, expenses, investments, receivables and financial statements. In addition, it is more effective and efficient also in terms of financial management time by using the online financial application.
Read moreBlockchain in Day-to-Day Life: Transformative Applications and Implementation
Blockchain technology is a disruptive force in many industries, introducing transparency and security while improving the efficiency of daily processes. This paper discusses blockchain applications in logistics and supply chain, healthcare data management, IoT (Internet of Things), identity verification, government, etc.; for instance, blockchain's decentralised and immutable characteristics provide a solution to some of the most challenging concerns, including data privacy, fraud prevention, and operational inefficiency. The paper further discusses the fusion of blockchain with upcoming fields like artificial intelligence (AI) and IoT, which play more crucial roles in daily life. By deploying blockchain, businesses can optimise their processes without intermediaries and ensure that the data is safe and sound to bolster trust across digital chains. The research helps identify what blockchain is doing now and how the industry may touch all corners of modern life moving forward.
Read moreDemand coverage diversity based ant colony optimization for dynamic vehicle routing problems
Demand coverage diversity based ant colony optimization for dynamic vehicle routing problems
Solving Multiple Depot Vehicle Routing Problem (MDVRP) using Genetic Algorithm
Vehicle Routing Problem is a NP-Hard classical complex combinatorial problem described as task of determining efficient and shortest delivery or pickup routes to service several customers scattered in different geographical regions with a fleet of vehicles with additional predefined constraints to satisfy real-life scenarios. Vehicle Routing Problem has wide applications in Logistics and Transportation with growing economic importance. In Solutions of Vehicle Routing Problem maintaining the defined restrictions is of high Interest. Exact solutions of Vehicle Routing Problem can't be obtained due requirement of high computation time. Due to Genetic Algorithm's stochastic characteristics and efficiency in solving combinatorial problems it is used to find true and approximate solutions of Vehicle Routing Problem. For constrained variants of Vehicle Routing Problem feasible space is smaller than whole search space and Genetic Algorithm finds a solution with high precision that doesn't violate any of the constraints.
Read moreSolving large break minimization problems in a mirrored double round-robin tournament using quantum annealing.
Quantum annealing has gained considerable attention because it can be applied to combinatorial optimization problems, which have numerous applications in logistics, scheduling, and finance. In recent years, with the technical development of quantum annealers, research on solving practical combinatorial optimization problems using them has accelerated. However, researchers struggle to find practical combinatorial optimization problems, for which quantum annealers outperform mathematical optimization solvers. Moreover, there are only a few studies that compare the performance of quantum annealers with the state-of-the-art solvers, such as Gurobi and CPLEX. This study determines that quantum annealing demonstrates better performance than the solvers in that the solvers take longer to reach the objective function value of the solution obtained by the quantum annealers for the break minimization problem in a mirrored double round-robin tournament. We also explain the desirable performance of quantum annealing for the sparse interaction between variables and a problem without constraints. In this process, we demonstrate that this problem can be expressed as a 4-regular graph. Through computational experiments, we solve this problem using our quantum annealing approach and two-integer programming approaches, which were performed using the latest quantum annealer D-Wave Advantage, and Gurobi, respectively. Further, we compare the quality of the solutions and the computational time. Quantum annealing was able to determine the exact solution in 0.05 seconds for problems with 20 teams, which is a practical size. In the case of 36 teams, it took 84.8 s for the integer programming method to reach the objective function value, which was obtained by the quantum annealer in 0.05 s. These results not only present the break minimization problem in a mirrored double round-robin tournament as an example of applying quantum annealing to practical optimization problems, but also contribute to find problems that can be effectively solved by quantum annealing.
Read more4 - Financial Management in Health Care
4 - Financial Management in Health Care
Applied Research Training Model of Employment-oriented Financial Management
employment-oriented financial management training objectives are as the basis to explain the need for financial management training applied talents, which is revealing major problems of financial management professional applications that exist in education, training applied talents from abroad to explore the culture Financial Management Applied Talents of ways to effectively promote the development of education in financial management applications.
Read moreEffective Integration of Artificial Intelligence and Blockchain Technologies for Empowerment of Drug Discovery and Development.
The effective integration of blockchain technology and artificial intelligence (AI) has the potential to change healthcare management. Two cutting-edge developments in the healthcare industry are blockchain and artificial intelligence. Blockchain, an open network for information sharing and permission, is being used in e-Health to apply artificial intelligence models. Healthcare workers will be able to view patient medical records on the blockchain. Artificial intelligence (AI) makes use of a wide range of suggested algorithms, decision-making power, and vast amounts of data. Health care services can be made more decentralized, transparent, safe, and impenetrable with the use of blockchain technology. AI needs cryptographic records to be stored, and blockchain makes this possible. Applications of artificial intelligence in healthcare management include chatbots for diagnosis and treatment, predictive analytics, personalized medicine, and more. Blockchain technology has applications in supply chain management, clinical trial management, interoperability, and data security and integrity in healthcare management. A more effective, safe, and patient-centered healthcare ecosystem can be created by integrating blockchain technology and artificial intelligence (AI) into healthcare management. It can encourage the development of a wide range of applications in radiology, cancer treatment, cardiology, dermatology, and fundoscopy that may save patients' lives.
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