<Para ID="Par2">Promising to cope with increasing demand variety and uncertainty, flexibility in general and process flexibility in particular are becoming ever more desired corporate capabilities. During the last years, the business process management and the production/operations management communities have...</para>

We will examine price dependencies between primary products and co-products from metal markets. First, we develop an optimization model to determine the profit-maximizing extraction behavior of mining companies. With this model, we analyze how the companies optimally react to exogenous demand...

Bayesian inference for stochastic volatility models using MCMC methods highly depends on actual parameter values in terms of sampling efficiency. While draws from the posterior utilizing the standard centered parameterization break down when the volatility of volatility parameter in the latent...

For European operators of biofuels plants there are not many hedge vehicles available to hedge operational margins. Cross hedges for rapeoil (with the rapeseed futures contract) and RME (with the NYMEX diesel futures contract) could be useful instruments. We use recent developments on threshold...

There is no doubt that at least since the 1990s process orientation has evolved into one of the central paradigms of organizational design. Since then, all process management subtasks have matured. Process management decisions, however, lack economic foundation. They are usually based on...

Web service compositions coordinate Web services of different enterprises. They are expected to constitute the foundation of service-oriented architectures, to improve business processes as well as to foster intra- and inter-organizational integration. Especially in inter-organizational...