This book focuses on decision-making problems in engineering. It investigates the ranking aggregation problem and the related features, such as input/output data, simplification hypotheses, importance hierarchy of experts. In addition to a well-structured overview of several interesting, consolidated methodological approaches, it presents innovative approaches that can also be applied profitably in other fields. The fascinating selection of topics included is based on research that has been developed in the past twenty years. The descriptions are supported by figures, tables, flowcharts,...

This book explains the theoretical structure of particle swarm optimization (PSO) and focuses on the application of PSO to portfolio optimization problems. The general goal of portfolio optimization is to find a solution that provides the highest expected return at each level of portfolio risk. According to H. Markowitz’s portfolio selection theory, as new assets are added to an investment portfolio, the total risk of the portfolio’s decreases depending on the correlations of asset returns, while the expected return on the portfolio represents the weighted average of the...

This book introduces readers to essential strategies, practices, and benchmarking for asset maintenance in operations intensive industries. Drawing on a case study from the oil and gas sector, it offers a methodology and practical solutions to help maintenance practitioners select and formulate an asset maintenance strategy, and to establish best maintenance practices at an organizational level using the frameworks developed here. It is intended for industry practitioners, young maintenance professionals, and students of engineering management who aspire to a career in operations intensive...

Health threats pose significant dangers to humankind and form a major source of human suffering and sorrow. Responsible leadership and reasoned decision making can significantly improve the arenas that are affected by health threats, through establishing a better allocation of very scarce resources for building health capabilities and for increasing health preparedness, responsiveness and resilience.

This book examines how public health leaders can use the cutting-edge research from Decision Sciences to better manage emerging and re-emerging health threats, with a focus on enhancing...

This is an open access book discusses readers to various methods of modeling plans and policies that address public sector issues and problems. Written for public policy and social sciences students at the upper undergraduate and graduate level, as well as public sector decision-makers, it demonstrates and compares the development and use of various deterministic and probabilistic optimization and simulation modeling methods for analyzing planning and management issues. These modeling tools offer a means of identifying and evaluating alternative plans and policies based on their physical,...

Management of supply chains has been evolving rapidly over the last few years due to the inception of Industry 4.0, where businesses adopt automation technologies and data exchanges leading to dynamic and interconnected supply chain systems. Emphasizing on analytical approaches such as predictive and prescriptive modeling, this book presents state-of-the-art original research work dealing with advanced analytical models for the design, planning, and operation of the supply chain to provide faster and smarter decisions in the era of digitization.

In particular, the book integrates...

This book presents innovative operations research applications in business, specifically industrial engineering and its sub-disciplines. It investigates new perspectives in operations research and management science with regard to research methods, the research context, and industrial engineering, offering readers a broad range of new approaches to management problems. The book features the latest work of researchers who have worked with Professor Fusun Ulengin or built upon her work in their academic careers.

Written in honor of Prof. Ulengin, this book was edited by her former...