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REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
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Korean Management Science Review
Journal Basic Information
Journal DOI :
The Korean Operations and Management Science Society
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Volume & Issues
Volume 27, Issue 3 - Nov 2010
Volume 27, Issue 2 - Jul 2010
Volume 27, Issue 1 - Mar 2010
Selecting the target year
A Study on Decision Making Factors of Green Logistics Using Analytic Network Process
Lee, Young-Chan ; Oh, Hyung-Jin ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 1~16
According to appearance of a new competitive factor, as 'Green', Green Logistics becomes the important evaluation factor for many firms in emerging competitive environment. Despite this importance, the recognition level of Korean firms on Green Logistics lags behind that of leading companies in developed countries. In addition, the literature studies and practical strategies for systematic management control plans are very insufficient. In this paper, we establish decision making framework of Green Logistics by using ANP(analytic network process). Specifically, we suggest at first the overall concepts and issues of Green Logistics through literature studies. Next, we derive 6 clusters and 21 components forming the strategic green logistics, and then we conduct surveys for pairwise comparison of experts on Green Logistics and compute relative weights of the clusters, components and altanatives considering the feedback structure. We expect that the results of this study will be very helpful for managers to make strategic decisions.
An Application of a Jackson Network for Waiting Time Reduction at the Emergency Care Center
Kim, Su-Mi ; Seo, Hee-Yeon ; Lee, Jun-Ho ; Kwon, Yong-Kap ; Kim, Seong-Moon ; Park, In-Cheol ; Kim, Seung-Ho ; Lee, Young-Hoon ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 17~31
Patients entering an emergency care center in a hospital usually visit medical processes in different orders depending on the urgency level and the medical treatments required. We formulate the patient flows among diverse processes in an emergency care center using the Jackson network, which is one of the queueing networks, in order to evaluate the system performances such as the expected queue length and the expected waiting time. We present a case study based on actual data collected from an emergency care center in a hospital, in order to prove the validity of applying the Jackson network model in practice. After assessing the current system performances, we provide operational strategies to reduce waiting at the bottleneck processes and evaluate the impact of those strategies on the entire system.
A Decision-making Strategy to Maximize the Information Value of Weather Forecasts in a Customer Relationship Management (CRM) Problem of the Leisure Industry
Lee, Joong-Woo ; Lee, Ki-Kwang ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 33~43
This paper presents a method for the estimation and analysis of the economic value of weather forecasts for CRM decision-making problems in the leisure industry. Value is calculated in terms of the customer's satisfaction returned from the user's decision under the specific payoff structure, which is itself represented by a customer's satisfaction ratio model. The decision is assessed by a modified cost-loss model to consider the customer's satisfaction instead of the loss or cost. Site-specific probability and deterministic forecasts, each of which is provided in Korea and China, are applied to generate and analyze the optimal decisions. The application results demonstrate that probability forecasts have greater value than deterministic forecasts, provided that the users can locate the optimal decision threshold. This paper also presents the optimal decision strategy for specific customers with a variety of satisfaction patterns.
Evaluation of Life Annuity Plans Based on Utility Maximization : Focused on Comparison with Money's Worth Ratio
Yang, Jae-Hwan ; Yuh, Yoon-Kyung ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 45~60
This study evaluates life annuity plans based on two different types of measures : financial benefit and utility on consumption. The financial benefit is measured by Money's Worth (MW) ratio and return on annuity. For the measure of utility, an optimization problem is formulated with the objective of maximizing utility on consumption. To solve the optimization model, we use Dynamic Programming (DP) technique. The both types of measures are applied to cases of Korean pre-retirees at age 40 with different accumulation years of annuity (i.e. level of annuity asset at the age of retirement) and different timings of annuitization. Our results generally indicate that the utility based optimization model is superior to the financial measures in terms of providing a better evaluation of an annuity plan due to its capability to consider an individual's financial situation during his/her retirement period. Also, they suggest that the level of annuity asset is an important factor when an individual determines the optimal annuitization timing.
Victory and Defeat Factor Analysis of Historic Battle using Simulation : Myeong-Ryang Sea-Battle during Japanese Invasion of Korea in 1592
Cho, Sung-Jin ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 61~73
Purpose of the War history's study is getting instruction by analyzing victory and defeat factor. This study is studied by qualitative form in war study mainly. In case recording literature is full, victory and defeat factor analysis is easy, but occasionally definite analysis that recording literature is feeble is difficult. Also, when it is battle result that escape common sense, about victory and defeat factor, various estimations are brought. As such example, there is Myeong-Ryang sea-battle at Japanese Invasion of Korea in 1592 and Korea(Cho-Sun) naval forces did big victory in 13 vs. 133 numerical inferiorities. This study presented method of study that using agent based simulation model for quantitative analysis of these victory and defeat factor.
An Optimal Missile Allocation Problem for Maximizing Kill Probability
Jung, Chi-Young ; Lee, Jae-Yeong ; Lee, Sang-Heon ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 75~90
In this paper, we proposed new solution procedure of the air defense missile allocation problem. In order to find the optimal location of missile, we formulated a simple mathematical model maximizing the kill probability of enemy air threat including aircraft and missile. To find the Kill probability, we developed a new procedure using actual experimental data in the mathematical model. Actual experimental data mean real characteristic factor, which was acquired when the missile had been developed through missile fire experiment. The result of this study can offer practical solution for missile allocation and the methodology in this study can be used to the decision making for the optimal military facility allocation.
A Case Study on the Evaluation of Open Source Bulletin Board System with Multi-Function by the Analytical Hierarchy Process
Sim, Min-Jae ; Jang, Seong-Yong ; Lee, Won-Young ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 91~105
We proposed and stratified a selection standard model on Open Source Functional Board which could be found in Web. So we could grasp the weight about Performance Evaluation from the viewpoints of planners, developers, and web disigner professional of views. We suggested applying diverse measurement types in case of item which could chart Evaluation Standards on chosen sample boards. In case of item which couldn't do that, we compared and analyzed it by using selective type of 9 point scaling method on professionalists in every sample board. As a result of weight on upper estimate section of evaluation model chart, the order of importance was convenience(0.334), performance(0.333), function(0.240) and design(0.093) respectively. It indicates that there is more weight on performance and convenience which are hard to be structurally modified than designs and functions that are directly shown to the users. Also, it was evident that opposite results came out when using 9-point scale survey and measurement with objective data such as function and performance. The reason is because the surveyed subject can have his or her own subjectivity and bias unlike objective data. However, objectivity of the administrator is also an important factor thus both two perspectives have to be all considered when selecting the bulletin board.
The Analysis of Financial Factors and efficiency that influence on the Venture Business' Survival
Song, Sung-Hwan ; Gwon, Seong-Hoon ; Hong, Soon-Ki ; Yoo, Kyung-Jin ; Bae, Young-Im ;
Korean Management Science Review, volume 27, issue 1, 2010, Pages 107~116
There are several stage in corporate's life cycle such as foundation, growth, maturity or bankruptcy. A bankruptcy is very important for corporate in the life cycle. Especially, venture business' life cycle is short compare to other type of corporate. A lot of venture businesses have emerged and bankrupted soon in the market. Venture businesses' survival or bankruptcy have been influenced by not only external environment like the rate of exchange, oil price, and foreign exchange crisis but also internal environment such as efficiency, process, human resources, finance and CEO. In this paper, we attempt to examine financial factors and efficiency that influence on the venture businesses' survival and bankruptcy. The more venture businesses have high efficiency score, the more they have high probability of survival.