Given a container of fixed width, infinite height and a set of rectangular block, the 2D-strip packing problem consists of orthogonally placing all the rectangles such that the height is minimized. The position is subject to confinement of no overlapping of blocks. The problem is a complex...

Flow-shop scheduling problem (FSP) deals with the scheduling of a set of n jobs that visit a set of m machines in the same order. As the FSP is NP-hard, there is no efficient algorithm to reach the optimal solution of the problem. To minimize the holding, delay and setup costs of large...

Distribution network design as a strategic decision has long-term effect on tactical and operational supply chain management. In this research, the location– allocation problem is studied under demand uncertainty. The purposes of this study were to specify the optimal number and location of...

Control charts are extensively used in manufacturing contexts to monitor production processes. This article illustrates economical design of a variable sample size and control limit Hotelling’s T2 control chart based on a novel cost model when occurrence times of the assignable causes are...

Process shift is an important input parameter in the economic design of control charts. Earlier x control chart designs considered constant shifts to occur in the mean of the process for a given assignable cause. This assumption has been criticized by many researchers since it may not be...

We consider the problem of scheduling n jobs in a pallet-constrained two-machine flowshop so as to minimize the makespan. In such a flowshop environment, each job needs a pallet the entire time, from the start of its first operation until the completion of the last operation, and the number of...

The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy, within a standard New Keynesian model, by means...

Agent-based simulations are performed to study adaptive learning in the context of asymmetric first-price auctions. Non-linearity of the Nash equilibrium strategies is used to investigate the effect of task complexity on adaptive learning by varying the degree of approximation the agents can...

This paper discusses the role that Genetic Algorithms (GA) can have in determining asset allocation for multi sector funds. We present an asset allocation model where the investors' utility function departs from the quadratic utility function assumed by the standard Mean-Variance optimisation....