A complete 3-D Canonical Piecewise-Linear (CPWL) representation is developed constructively in this paper. The key to the representation is the establishment of the explicit functional formulation of basis function. It is proved that basis function is the most elementary generating function from which a fully general 3-D PWL function can be formulated. This CPWL representation laid a solid theo...

Abstract: Offering customers product flexibility is one strategy deployed by companies to build competitive advantage and defend profit margins. This strategy is particularly well-suited for products with a high degree of component modularity. The hard-disk drive is one such product. However, such strategies often complicate downstream activities such as production planning. In this presentatio...

Make-to-order (MTO) operations have to effectively manage their capacity to make long-term sustainable profits. This objective can be met by selectively accepting available customer orders and simultaneously planning for capacity. We model a MTO operation of a job-shop with multiple resources having regular and non-regular capacity. The MTO firm has a set of customer orders at time zero with fi...

Abstract Homeowners, first-time buyers, banks, governments and construction companies are highly interested in following the state of property market. Currently, price indexes published several months out date hence do not offer up-to-date information which housing market stakeholders need order to make informed decisions. In this article, we present an enhanced version a mix-adjusted median ba...

The problem of pricing of time-dependent barrier options is considered in the case when interest rate and volatility are given functions in Black–Scholes framework. The calculation of the fair price reduces to the calculation of non-linear boundary crossing probabilities for a standard Brownian motion. The proposed method is based on a piecewise-linear approximation for the boundary and repeate...