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Introduction to Basics
Published in Kurt Heinze, Cost Management of Capital Projects, 2017
Project control means acting on available information. Taking action in turn means making decisions; and to make good decisions, the available information must be in a form conducive to action. Management science techniques can give managers greater confidence in making better informed decisions.
Broadcast Station Management
Published in Peter K. Pringle, Michael F. Starr, Electronic Media Management, 2013
Peter K. Pringle, Michael F. Starr
Basically, management science involves construction of a mathematical model to simulate a situation. All variables bearing on the situation and their relationships are noted. By changing the values of the variables, the outcomes of different decisions can be projected.
Health analytics in business research: a literature review
Published in Journal of Management Analytics, 2023
Quanchen Liu, Mengli Yu, Bingqing Xiong, Zhao Cai, Pengzhu Zhang, Chee-Wee Tan
As shown in Figure 3, these articles were published across 8 different journals out of 63 pre-selected high-quality business and management journals. Production and Operations Management (POM) accounts for the majority of the literature on health analytics with 25 of the 63 articles. The second most popular publications were Management Science (ManSci), MIS Quarterly (MISQ), and Operations Research (OR), with 8 articles each in total. The number of articles published in other journals was relatively low. We were surprised to find that despite carefully selecting the journals to be included in our literature review, high-quality business research articles on health analytics were still highly clustered within a small group of journals. Additionally, according to the statistics of Web of Science Categories, Operations Research Management Science is the most active research field that emphasizes health analytics.
Incentivizing resilient supply chain design to prevent drug shortages: policy analysis using two- and multi-stage stochastic programs
Published in IISE Transactions, 2020
Emily L. Tucker, Mark S. Daskin, Burgunda V. Sweet, Wallace J. Hopp
The operations research and management science community has only recently begun to study drug shortages. Kim and Scott Morton (2015) analyzed factors that contribute to shortages with a game theory model of two competing manufacturers of perfectly substitutable generic injectable drugs. They suggested that spare capacities may have been removed when prices dropped in the early 2000s, revealing underlying vulnerabilities that led to shortages. In one of the only papers to evaluate policy, Jia and Zhao (2017) developed a model of contracts between key stakeholders to analyze the effects of failure-to-supply clauses and price increases. At the beginning of the contracting period, the manufacturer allocates production capacity at a single echelon and decides its inventory policy under stochastic supply and demand. The authors used this framework to study case examples of fluorouracil, cytarabine, and bleomycin, and found Pareto-improving contracts for each stakeholder. Others have studied inventory control for hospitals struggling with shortages (Saedi et al., 2016), inventory policies as a response to product recalls (Azghandi et al., 2018), and inventory policies related to human behavior and shortages (Doroudi et al., 2018). Jacobson et al. (2006) analyzed the size of the Strategic National Stockpile of pediatric vaccines.
A review on supply chain contracting with information considerations: information updating and information asymmetry
Published in International Journal of Production Research, 2019
Bin Shen, Tsan-Ming Choi, Stefan Minner
Supply chain contracting is an important topic in production research, as well as in management science/operations research (MS/OR). Many prior studies have examined how supply chain contracts and information updating influence each other and how supply chain contracting optimises an individual member’s efficiency by reducing information asymmetry. Incentive contracts can entice information sharing among supply chain members and overcome the double marginalisation problem (double marginalization implies that in the supply chain, members have different marginal criterions ignoring the other one, which lead to a discrepancy between the decentralized and centralized decisions such as order quantity (Dellarocas 2012, Li et al. 2013)), and thereby improve decisions (Cachon 2003). Supply chain contracting has emerged from principal–agent problems in economics (e.g. Holmström 1979, 1982; and Grossman and Hart 1983) where at least two supply chain members (e.g. a buyer and a seller) are involved in trading. Supply chain contracting is now significantly influencing supply chain operations management and production research (Lariviere 2016). In newsvendor-type models, supply chain contracting has been identified as an incentive alignment scheme because it helps align the decentralised decisions to be the same as (or at least close to) the centralised decisions, and thus helping the supply chain to improve efficiency (e.g. Pasternack 1981; Cachon and Lariviere 2005). Information asymmetry affects supply chain efficiency, but appropriate measures can reduce or eliminate its negative effects (Ha and Tong 2008). For example, contract menus provide more options and flexibility to the buyers when dealing with information asymmetry.