A practical assessment of risk-averse approaches in production lot-sizing problems

ABSTRACT

This paper presents an empirical assessment of four state-of-the-art risk-averse approaches to deal with the capacitated lot-sizing problem under stochastic demand. We analyse two mean-risk models based on the semideviation and on the conditional value-at-risk risk measures, and alternate first and second-order stochastic dominance approaches. The extensive computational experiments based on different instances characteristics and on a case-study suggest that CVaR exhibits a good trade-off between risk and performance, followed by the semideviation and first-order stochastic dominance approach. For all approaches, enforcing risk-aversion helps to reduce the cost-standard deviation substantially, which is usually accomplished via increasing production rates. Overall, we can say that very risk-averse decision-makers would be willing to pay an increased price to have a much less risky solution given by CVaR. In less risk-averse settings, though, semideviation and first-order stochastic dominance can be appealing alternatives to provide significantly more stable production planning costs with a marginal increase of the expected costs.     

Design and Optimization of Thick-Walled Cylinders with Load Localization Near the End Face

Strength of Materials - The paper presents a procedure for determining the design parameters of multilayer thick-walled structures with a local load on the inner surface portion located near the...     

Design of novel urogenital pharmabiotic formulations containing lactobacilli,salivaricin CRL 1328 and non-microbial compounds with different functionalities

Context: The administration of pharmabiotics is a promising alternative to antimicrobial drugs for the treatment and/or prevention of female urogenital infections.

Objective: To design pharmabiotic formulations including bioactive ingredients of microbial origin combined with non-microbial substances and then to evaluate the stability of the combinations during freeze-drying and storage.

Materials and methods: Different formulations including Lactobacillus gasseri CRL 1263, Lactobacillus salivarius CRL 1328, salivaricin CRL 1328 (a bacteriocin) and non-microbial compounds (lactose, inulin and ascorbic acid) were assayed, and the ingredients were freeze-dried together or separately. The formulations were stored in gelatin capsules at 4?°C for 360?d.

Results: The viability of lactobacilli was affected to different extents depending on the strains and on the formulations assayed. L. salivarius and ascorbic acid were successfully combined only after the freeze-drying process. Salivaricin activity was not detected in formulations containing L. gasseri. However, when combined with ascorbic acid, lactose, inulin or L. salivarius, the bacteriocin maintained its activity for 360?d. The selected microorganisms proved to be compatible for their inclusion in multi-strain formulations together with lactose, inulin and ascorbic acid. Salivaricin could be included only in a L. salivarius CRL 1328 single-strain formulation together with non-microbial substances.

Conclusions: This study provides new insights into the design of urogenital pharmabiotics combining beneficial lactobacilli, salivaricin CRL 1328 and compounds with different functionalities.     

Viscosity of Fe90B x Si(10 − x) melts

High Temperature - The temperature dependences of the viscosity of liquid Fe90B x Si(10 − x) alloys are studied in the mode of heating and subsequent cooling. The temperature dependences of...     

Stamping of Nonuniform Channels. 5. Calculation Methods for Channel Extrusion. 5.1. Formulas

Russian Engineering Research - Formulas are derived for the most important parameters of channel extrusion.     

A conceptualization of intended learning outcomes supporting self‐regulated learners in indicating learning paths

Intended learning outcomes (ILOs) indicate what learners will be able to achieve after they are taught. Traditionally, ILOs are expressed as plain text or unstructured documents. What if all ILOs of a specific course of study can be conceptualized through a structured diagrammatic technique? It was hypothesized that learners can benefit from this conceptualization in learning, especially in self‐regulated learning. The aim of this study was to investigate whether the ILOs represented in unstructured or structured formats can facilitate learners to identify learning paths. The results revealed that the mean ratings of all learning paths were statistically significantly higher with structured ILOs.