Probabilistic modeling represents a subject spanning many branches of mathematics, economics, and computer science to connect pure mathematics with applied sciences. Operational research also relies on this connection to enable the improvement of business functions and decision making. Analyzing Risk through Probabilistic Modeling in Operations Research is an authoritative reference publication discussing the various challenges in management and decision science. Featuring exhaustive coverage on a range of topics within operational research including, but not limited to, decision analysis, data mining, process modeling, probabilistic interpolation and extrapolation, and optimization methods, this book is an essential reference source for decision makers, academicians, researchers, advanced-level students, technology developers, and government officials interested in the implementation of probabilistic modeling in various business applications.

This book presents a collection of mathematical models that deals with the real scenario in the industries. The primary objective of this book is to explore various effective methods for inventory control and management using soft computing techniques. Inventory control and management is a very tedious task faced by all the organizations in any sector of the economy. It makes decisions for policies, activities, and procedures in order to make sure that the right amount of each item is held in stock at any time. Many industries suffer from indiscipline while ordering and production mismatch. It is essential to provide best ordering policy to control such kind of mismatch in the industries. All the mathematical model solutions are provided with the help of various soft computing optimization techniques to determine optimal ordering policy. This book is beneficial for practitioners, educators, and researchers. It is also helpful for retailers/managers for improving business functions and making more accurate and realistic decisions.

Shedding new light on the human side of big data through the lenses of emotional and social intelligence competencies, this book advances the understanding of the requirements of the different professions that deal with big data. It also illustrates the empirical evidence collected through the application of the competency-based methodology to a sample of data scientists and data analysts, the two most in-demand big data jobs in the labor market. The book provides recommendations for the higher education system to offer better designed curricula for entry-level big data professions. It also offers managerial insights in describing how organizations and specifically HR practitioners can benefit from the competency-based approach to overcome the skill shortage that characterizes the demand for big data professional roles and to increase the effectiveness of the selection and recruiting processes.

The papers contained in this volume were originally presented at the 2015 International Conference on Complex Systems in Business, Administration, Science and Engineering. Included are the latest works of practitioners from a variety of disciplines who have developed new approaches for resolving complex issues that cannot be formulated using conventional, mathematical or software models.Complex Systems occur in an infinite variety of problems, not only in the realm of physical sciences and engineering, but also in such diverse fields as economics, the environment, humanities, and social and political sciences.The papers in the book cover such topics as: Complex ecological systems; Complexity science and urban developments; Complex energy systems; Complex issues in biological and medical sciences; Extreme events: natural and human made disasters; Climate change; Complexity of the internet-based global market; Complex business processes; Supply chain complexity; Transportation complexity; Logistics complexity; Closed and open systems; Attractions and chaotic systems; Complex adaptive software; Complexity of big data; Management of complexity; Global economy as a complex system; Complexity in social systems; Complex political systems; Administrations as complex systems; Complexity in engineering; Complexity and environment; Complexity and evolution; Complexity in linguistics, literature and arts.

The business, commercial and public-sector world has changed dramatically since John Oakland wrote the first edition of Statistical Process Control - a practical guide in the mid-eighties. Then people were rediscovering statistical methods of 'quality control' and the book responded to an often desperate need to find out about the techniques and use them on data. Pressure over time from organizations supplying directly to the consumer, typically in the automotive and high technology sectors, forced those in charge of the supplying production and service operations to think more about preventing problems than how to find and fix them. Subsequent editions retained the 'took kit' approach of the first but included some of the 'philosophy' behind the techniques and their use. The theme which runs throughout the 7th edition is still processes - that require understanding, have variation, must be properly controlled, have a capability, and need improvement - the five sections of this new edition. SPC never has been and never will be simply a 'took kit' and in this book the authors provide, not only the instructional guide for the tools, but communicate the management practices which have become so vital to success in organizations throughout the world. The book is supported by the authors' extensive and latest consulting work within thousands of organisations worldwide. Fully updated to include real-life case studies, new research based on client work from an array of industries, and integration with the latest computer methods and Minitab software, the book also retains its valued textbook quality through clear learning objectives and end of chapter discussion questions. It can still serve as a textbook for both student and practicing engineers, scientists, technologists, managers and for anyone wishing to understand or implement modern statistical process control techniques.

This volume constitutes a first approximation for the use of systems approaches and dynamic performance management as tools for collaborative governance. The chapters examine models and simulations used in some specific systems approaches, which contribute to facilitating problem focus and collective understanding of collaborative governance, especially in the area of performance management. The explicit connection between resources and outcomes promoted by this view helps managers to understand better how to improve policy and to create positive outcomes that create public value.

This book presents a new approach to the valuation of capital asset investments and investment decision-making. Starting from simple premises and working logically through three basic elements (capital, income, and cash flow), it guides readers on an interdisciplinary journey through the subtleties of accounting and finance, explaining how to correctly measure a project's economic profitability and efficiency, how to assess the impact of investment policy and financing policy on shareholder value creation, and how to design reliable, transparent, and logically consistent financial models. The book adopts an innovative pedagogical approach, based on a newly developed accounting-and-finance-engineering system, to help readers gain a deeper understanding of the accounting and financial magnitudes, learn about new analytical tools, and develop the necessary skills to practically implement them. This diverse approach to capital budgeting allows a sophisticated economic analysis in both absolute terms (values) and relative terms (rates of return), and is applicable to a wide range of economic entities, including real assets and financial assets, engineering designs and manufacturing schemes, corporate-financed and project-financed transactions, privately-owned projects and public investments, individual projects and firms. As such, this book is a valuable resource for a broad audience, including scholars and researchers, industry practitioners, executives, and managers, as well as students of corporate finance, managerial finance, engineering economics, financial management, management accounting, operations research, and financial mathematics. It features more than 180 guided examples, 50 charts and figures and over 160 explanatory tables that help readers grasp the new concepts and tools. Each chapter starts with an abstract and a list of the skills readers can expect to gain, and concludes with a list of key points summarizing the content.

This book presents the applications of fractional calculus, fractional operators of non-integer orders and fractional differential equations in describing economic dynamics with long memory. Generalizations of basic economic concepts, notions and methods for the economic processes with memory are suggested. New micro and macroeconomic models with continuous time are proposed to describe the fractional economic dynamics with long memory as well.

This book covers several new areas in the growing field of analytics with some innovative applications in different business contexts, and consists of selected presentations at the 6th IIMA International Conference on Advanced Data Analysis, Business Analytics and Intelligence. The book is conceptually divided in seven parts. The first part gives expository briefs on some topics of current academic and practitioner interests, such as data streams, binary prediction and reliability shock models. In the second part, the contributions look at artificial intelligence applications with chapters related to explainable AI, personalized search and recommendation, and customer retention management. The third part deals with credit risk analytics, with chapters on optimization of credit limits and mitigation of agricultural lending risks. In its fourth part, the book explores analytics and data mining in the retail context. In the fifth part, the book presents some applications of analytics to operations management. This part has chapters related to improvement of furnace operations, forecasting food indices and analytics for improving student learning outcomes. The sixth part has contributions related to adaptive designs in clinical trials, stochastic comparisons of systems with heterogeneous components and stacking of models. The seventh and final part contains chapters related to finance and economics topics, such as role of infrastructure and taxation on economic growth of countries and connectedness of markets with heterogenous agents, The different themes ensure that the book would be of great value to practitioners, post-graduate students, research scholars and faculty teaching advanced business analytics courses.

This book presents the outcomes of the 17th IEEE/ACIS International Conference on Computer and Information Science (ICIS 2018), which was held in Singapore on June 6-8, 2018. The aim of the conference was to bring together researchers and scientists, businessmen and entrepreneurs, teachers, engineers, computer users, and students to discuss the various fields of computer science and to share their experiences, and to exchange new ideas and information in a meaningful way. The book includes findings on all aspects (theory, applications and tools) of computer and information science and discusses related practical challenges and the solutions adopted to solve them. The conference organizers selected the best papers from those accepted for presentation. The papers were chosen based on review scores submitted by members of the program committee and underwent a further rigorous round of review. From this second round, 13 of the conference's most promising papers were then published in this Springer (SCI) book and not the conference proceedings. We impatiently await the important contributions that we know these authors will make to the field of computer and information science.

Service organizations and enterprises have the dual challenge of embracing externally-driven variation while simultaneously evolving the enabling of information technology operations and systems. The co-engineering method provides a powerful tool for interdisciplinary decision-making necessary for managing complex interactions between layers of external and enabling services. ""Co-Engineering Applications and Adaptive Business Technologies in Practice: Enterprise Service Ontologies, Models, and Frameworks"" provides knowledge that forms the basis for successful co-engineering of the adaptive complex enterprise for services delivery. Intended for practicing professionals, advanced students, and academicians, this book enables understanding of the deeper issues and challenges in applying IT to solve business problems.

Collecting and presenting the latest research and development results from the leading researchers in the field of industrial database modeling, ""Database Modeling for Industrial Data Management: Emerging Technologies and Applications"" provides a single record of current research and practical applications in industrial database modeling. This book discusses the major aspects of databases for industry data modeling, database models, and database applications in information systems. Readers of ""Database Modeling for Industrial Data Management: Emerging Technologies and Applications"" will gain a complete understanding of the notions, techniques, and methods related to the research and developments of industrial database modeling, which will serve as both a starting point and a reference for their research and developments.

Due to the increasing importance of the intangible assets of a company, firms are now concerned with how best to manage and measure knowledge and other intangibles. ""Strategies for Information Technology and Intellectual Capital: Challenges and Opportunities"" provides a detailed synopsis on the history, origin, taxonomies, ontologies, measurement models, and dynamics of intellectual capital.

This book is comprised of presentations delivered at the 5th Workshop on Biostatistics and Bioinformatics held in Atlanta on May 5-7, 2017. Featuring twenty-two selected papers from the workshop, this book showcases the most current advances in the field, presenting new methods, theories, and case applications at the frontiers of biostatistics, bioinformatics, and interdisciplinary areas. Biostatistics and bioinformatics have been playing a key role in statistics and other scientific research fields in recent years. The goal of the 5th Workshop on Biostatistics and Bioinformatics was to stimulate research, foster interaction among researchers in field, and offer opportunities for learning and facilitating research collaborations in the era of big data. The resulting volume offers timely insights for researchers, students, and industry practitioners.

There is a broad consensus amongst law firms and in-house legal departments that next generation "Legal Tech" - particularly in the form of Blockchain-based technologies and Smart Contracts - will have a profound impact on the future operations of all legal service providers. Legal Tech startups are already revolutionizing the legal industry by increasing the speed and efficiency of traditional legal services or replacing them altogether with new technologies. This on-going process of disruption within the legal profession offers significant opportunities for all business. However, it also poses a number of challenges for practitioners, trade associations, technology vendors, and regulators who often struggle to keep up with the technologies, resulting in a widening regulatory "gap." Many uncertainties remain regarding the scope, direction, and effects of these new technologies and their integration with existing practices and legacy systems. Adding to the challenges is the growing need for easy-to-use contracting solutions, on the one hand, and for protecting the users of such solutions, on the other. To respond to the challenges and to provide better legal communications, systems, and services Legal Tech scholars and practitioners have found allies in the emerging field of Legal Design. This collection brings together leading scholars and practitioners working on these issues from diverse jurisdictions. The aim is to introduce Blockchain and Smart Contract technologies, and to examine their on-going impact on the legal profession, business and regulators.

The digital traces that people leave behind as they conduct their daily lives provide a powerful resource for businesses to better understand the dynamics of an otherwise chaotic society. Digital technologies have become omnipresent in our lives and we still do not fully know how to make the best use of the data these technologies could harness. Businesses leveraging big data appropriately could definitely gain a sustainable competitive advantage. With a balanced mix of texts and cases, this book discusses a variety of digital technologies and how they transform people and organizations. It offers a debate on the societal consequences of the yet unfolding technological revolution and proposes alternatives for harnessing disruptive technologies for the greater benefit of all. This book will have wide appeal to academics in technology management, strategy, marketing, and human resource management.

For graduate and undergraduate courses in IT management and IT strategy. The authors utilize their years of working with companies on IT management / strategy to provide students with a practical look at the evolution of IT in business.

For courses on decision modeling through the use of spreadsheets. The perfect balance between decision modeling and spreadsheet use. It's important that textbooks support decision modeling courses by combining student's ability to logically model and analyze diverse decision-making scenarios with software-based solution procedures. Balakrishnan offers the perfect balance of the decision modeling process and the use of spreadsheets to set up and solve decision models. The third edition has been updated to reflect the latest version of Excel.

This book explains supply chain management (SCM) using the strategy-structure-process-performance (SSPP) framework. Utilizing this well-known framework of contingency theory in the areas of strategic management and organizational design, SCM is firmly positioned among management theories. The author specifically proposes a theoretical foundation of SCM that will be relevant to such areas as operations management, logistics management, purchasing management, and marketing. Both the static and dynamic sides of SCM are reported. On the static side, supply chain strategies are divided into three patterns: efficiency-oriented, responsiveness-oriented, and the hybrid efficiency- and responsiveness-oriented pattern. For each strategy, suitable internal and external supply chain structures and processes are proposed. On the dynamic side, the big issue is to overcome performance trade-offs. Based on theories of organizational change, process change, and dynamic capabilities, the book presents a model of supply chain process change. On structure, the focus is on the role of an SCM steering department. Illustrative cases are included from such diverse industries as automobiles (Toyota and Nissan ), personal computers (Fujitsu), office equipment (Ricoh), air-conditioning (Daikin), tobacco (Japan Tobacco), chemicals and cosmetics (Kao), and casual fashion (Fast Retailing and Inditex).The strategy and organization of SCM is systematically presented on the basis of the SSPP framework. In particular, the relationships among three management elements-strategy, structure, and process-can be identified in an SCM context. From many of the cases contained in this volume, there emerges an understanding of how to analyze the success and failure factors of SCM using the SSPP framework. In addition, the reader sees not only the static side SCM such as process operation but also its dynamic side such as process innovation and process improvement.

Three years ago, the first Liquid Legal book compelled the legal profession to reassess its identity and to aspire to become a strategic partner for corporate executives as well as for clients. It also led to the foundation of the Liquid Legal Institute (LLI) - an association that sparks innovation and drives collaboration in the legal industry. This second Liquid Legal book builds on the LLI's progress and on the lessons learned by a legal community that has moved beyond focusing purely on LegalTech. It not only presents an outlook on how legal professionals will operate in the future, but also allows readers to develop a genuine understanding of the value of digitalization, standardization and new methodologies. Further, the book outlines a Common Legal Platform (CLP) and makes it the common point of departure for every author, offering inspiring insights from a wide range of forward-thinking experts who are all invested in driving new thinking within the legal ecosystem. The book also features "Liquid Legal Waves," which provide links between the various articles, connecting concrete ideas, practical solutions and specific topics and putting them into perspective, and so creating a true network of ideas for readers. A must read, this book is vibrant proof of the power of sharing, collaboration and coopetition, helping the legal profession to shape its digital future and revitalize its relevance while retaining a focus on the human lawyer.

This book takes an in-depth look at the economics of digital transformation. Presenting a variety of perspectives from experts, it deals with the socioeconomic changes associated with the digital transformation of production systems. The chapters also address the impacts of digital transformation on the sustainable functioning of socioeconomic and environmental systems. Select chapters also investigate the consequences of adopting intelligent learning systems, both in terms of replacing the human labor force. and their effects on the smart digital management and security of cities, places, and people. Lastly, chapters discuss important questions regarding innovations leading to sustainable change.

This book asks fundamental questions about the extent to which India is participating in the global shift towards knowledge-based forms of competitiveness. It charts Indian performance and progress using a unique framework benchmarked against fourteen other countries. In the course of the analysis, critical areas for improvement are identified, and the book provides detailed and objective insights for policy-makers and researchers to facilitate change and institutional reform in India. Readers will derive a comprehensive understanding of India's performance and prospects as it emerges as a serious global economic player. A particular feature of the work is the development of an original knowledge footprint concept that measures the extent and impact of knowledge development and diffusion domestic and internationally.The views expressed in this book are the author's.

A unique insight for both practitioners and academics on how to achieve a 'relationship advantage'. The relationship in information technology (IT) outsourcing often determines the difference between a successful, a less successful, and a failing outsourcing deal. The authors examine five case studies (Xerox, British Aerospace, ESSO, BP, and the UK Inland Revenue), and by way of a novel client-supplier relationship framework they identify the key dimensions of an outsourcing relationship.

The Enterprise Resource Planning Decade: Lessons Learned and Issues for the Future presents a collection of chapters written by various experts that share a interest in the ERP movement. This collection will generate much interest and contribute to the development of Enterprise-wide systems that provide true support to organizations and the development of methodologies that are less disruptive of organizational day-to-day business than is the case today. When ERP projects stop being the make or break ventures they can be and we stop getting these negative reports about failed implementation, the target will have been met and the ERP market will be less of a jungle than it is today.

Significant research and development advancement has been achieved in enterprise computing, integration, and management. The results of this advancement stimulate the creation of a new class of mission-critical infrastructures, a new category of integration methods and software tools, and a new group of business platforms for cost-effectively exploiting, integrating, and managing business operations across enterprises. ""Enterprise Service Computing: From Concept To Deployment"" presents the emerging service computing, or service-enabled computing, technologies currently preferably used in integrating enterprise-wide and cross-enterprise applications. The topics covered range from concept development, system design, modeling, and development technologies, to the final deployment, providing both theoretical research results and practical applications.