College of Management and Economics

About: College of Management and Economics is a based out in . It is known for research contribution in the topics: Supply chain & Stock market. The organization has 2184 authors who have published 2193 publications receiving 28830 citations.

Entropy method of constructing a combined model for improving loan default prediction: A case study in China

Abstract: In recent years, credit scoring has become an efficient tool to assist financial institutions in identifying potential default borrowers, and the combined model is widely viewed as a useful vehicle...

Reliability analysis of safety-instrumented systems operated in high-demand mode

Abstract: The international standards IEC 61508 and IEC 61511 give safety integrity requirements to safety-instrumented systems (SISs) that are used in the process industry. A SIS performs one or more safety-instrumented functions (SIFs). IEC 61508 distinguishes between SIFs operated in low-demand and high-demand/continuous mode, whereas IEC 61511 distinguishes between demanded and continuous mode of operation. In the past, almost all attention has been paid to low-demand SIFs, and this is reflected in IEC 61511, the available guidelines, and the scientific literature. Recently, however, suppliers of SISs to the process industry have been met with safety requirements to SIFs operated in high-demand and continuous mode. This paper intends to help suppliers and reliability analysts who are familiar with the mathematical formulas in IEC 61508-6 for safety integrity assessment of low-demand SIFs to verify the safety integrity of SIFs in high-demand and continuous mode. This is done by highlighting the similarities and differences between the required approaches and by presenting two new sets of approximation formulas for the PFH of general koon:G voted groups. One set of PFH formulas extends the IEC formulas for PFH based on the ideas applied in IEC 61508-6. The other set of PFH formulas is derived considering the risk contribution also from DD-failures when the demand rate is high. The results of the IEC formulas of PFH and the two new sets of PFH formulas are compared and discussed.

Coopetition Strategy and Pricing Timing in an Outsourcing Supply Chain With Uncertain Operation Risks

Abstract: At present, an increasing number of original equipment manufacturers (OEMs) often outsource their product manufacturing to original design manufacturers (ODMs) that also produce their own-brand products and then become powerful competitors of the OEMs. Following this, our work explores whether two such direct competitors should still cooperate in their original contract manufacturing and how coopetition decisions affect their preferred pricing timing when they enter the downstream product market. We establish a multistage model including an OEM and its competitive ODM and derive some managerial insights. First, we find that the OEM and the competitive ODM prefer to cooperate in contract manufacturing as the OEM is more risk loving, the competitive ODM is more risk averse and the wholesale price is relatively small. Second, we illustrate that the two parties are more likely to achieve an agreement on cooperation in the ODM-pricing-early game relative to the two other games. Third, we show that when the OEM is sufficiently risk averse, the two parties’ preferences for pricing timing remain the same regardless of whether they cooperate in contract manufacturing. However, once the OEM becomes risk loving, it will be less willing to move later as the wholesale price increases, which is different from classical Bertrand competition.