Management Implementation of Pricing and Revenue Optimization Introduction Perhaps one of the most difficult managerial decisions in the 21st century is the decision to make a decision. Analysis paralysis‚ endless meetings‚ and corporate structure have made it painstakingly difficult to come to any real conclusions. So when the Chief Financial Officer‚ Bruce Berman‚ of Bloomindale’s was tasked with decision to implement ProfitLogic’s Pricing Optimization (PO) system‚ he called upon Daniel Gabbay‚ an
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Chapter 2 ECONOMIC OPTIMIZATION QUESTIONS & ANSWERS Q2.1 In 2004‚ the second-largest U.S. long-distance telephone company eliminated about 2‚000 jobs at four call centers in Colorado‚ Iowa‚ Kansas‚ and South Carolina. "MCI must continue to revamp its cost structure to better position the company for future success‚" a company spokesperson said. Does this decision reflect an application of the global or partial optimization concept? Explain. ANSWER MCI=s decision to scale back employment at four
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The Capacitated Arc Routing Problem (CARP) is a representative NP-Hard combinatorial optimization problem (Mourão et al. 2005; Mourgaya et al.‚ 2007; Shang et al. 2014; Han et al. 2004)‚ which has been widely applied in real life‚ such as: the path planning of municipal waste cleanup (Teixeira‚ et al. 2004; Rosa et al. 2002)‚ the path planning of sprinkler (Handa et al. 2006)‚ mail delivery planning (Lu et al.‚ 2006; Araoz et al. 2006)‚ salt spreader path planning (Muyldermans et al.‚ 2002)‚ school
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2.1 The 0-1 Knapsack Problem (KP) The Knapsack Problem is a combinatorial optimization problem‚ which search out a best solution from among many other feasible solutions. It is concerned with a fixed size knapsack that has positive integer capacity (or volume) V. There are n numbers of distinct items that may potentially be placed in the knapsack. Item i has a positive integer capacity(volume) Vi and integer benefit Bi. In addition‚ there are Qi quantity of item i available‚ where quantity Qi is
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Tutorial: Using Excel for Linear Optimization Problems Part 1: Organize Your Information There are three categories of information needed for solving an optimization problem in Excel: an Objective Function‚ Decision Variables‚ and Constraints. It is simplest to organize these on paper before you start working with the spreadsheet. For tutorial purposes we will follow an example‚ “The Cargo Problem”‚ from start to finish: A shipping company has the capacity to move 100 tons of cargo per day by air
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shortest possible route that visits each city exactly once and returns to the origin city? It is an NP-hard problem in combinatorial optimization‚ important in operations research and theoretical computer science. The problem was first formulated in 1930 and is one of the most intensively studied problems in optimization. It is used as a benchmark for many optimization methods. Even though the problem is computationally difficult‚[1] a large number of heuristics and exact methods are known‚ so that
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Proposal – Generalizations of Newsvendor Problem 1. Introduction: The newsvendor model has been used in operations management and applied economics for years to determine optimal ordering quantity under uncertain demand. Perishable goods such as banana and lettuce cannot be carried from one period to another. Managers have to make decision on the inventory level of perishable goods over a very limited period. For example‚ due to the uncertainty of the demand of the newspaper‚ the newsboy
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Quadratic Assignment Problem Department of Industrial Engineering Koc University‚ Istanbul‚ Turkey gkirlik@ku.edu.tr Gokhan Kirlik April 16‚ 2010 Abstract Quadratic assignment problem is one of the most known and challenging combinatorial optimization problems. In this study‚ a new tabu search algorithm is proposed to solve the quadratic assignment problem. Proposed algorithm is tested with different tabu search elements such as neighborhood size‚ size of the tabu list‚ termination condition
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A Project Report On [………………Project Title…………….] Submitted in partial fulfillment of the Requirements for the award of degree of Bachelor of Technology In Computer Science and Engineering By [Name of the Student] [H.T.NO:12H61A0.....] Under the guidance of Mr. / Mrs./Ms. Guide Name Designation‚ CSE Dept. [pic] Department of Computer Science and Engineering‚ Anurag
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Int. J. Production Economics 141 (2013) 529–540 Contents lists available at SciVerse ScienceDirect Int. J. Production Economics journal homepage: www.elsevier.com/locate/ijpe Postponed product differentiation with demand information update$ Juliang Zhang a‚ Biying Shou b‚n‚ Jian Chen c a b c Department of Logistics Management‚ School of Economics and Management‚ Beijing Jiaotong University‚ Beijing 100044‚ China Department of Management Sciences‚ City University of Hong Kong‚ Hong
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