Mathematical Methods and Analysis for the Industrial Management and Business

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Financial Mathematics".

Deadline for manuscript submissions: closed (15 February 2021) | Viewed by 40371

Special Issue Editors

Head of Information Systems Department, Faculty of Management, Comenius University in Bratislava, Odbojárov 10, 82005 Bratislava, Slovakia
Interests: digital business; digital services; mathematical methods for service analytics; math models for service systems engineering
Special Issues, Collections and Topics in MDPI journals
Department of Information Systems, Faculty of Management, Comenius University in Bratislava, Odbojárov 10, 82005 Bratislava 25, Slovakia
Interests: functional analysis and applications; management information systems; math modelling of economic processes; business analytics
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Contemporary developments in industry and technologies progressively demand advanced mathematical method implementation and usage, since mathematics uses reasoned theories, computational techniques, algorithms and the latest computer technologies to solve the problems arising from various fields, such as economics, engineering, business and social sciences. Mathematics also focusses on problems coming from the industry and creates solutions relevant to the industry, including finding the most efficient, and cost-effective, way to solve these problems. The most noticeable examples are signal processing, computer graphics, risk management, system reliability, software testing and verification, database systems, production line optimisation and marketing research. Further, as a result of the increasing complexity of the modern digital economy, it is very important to formulate precise and accurate mathematical models and implement solutions using the latest computer techniques. In addition, modern manufacturing and service industries have changed drastically due to the explosion in the knowledge economy. In particular, fast and inexpensive computing, office products, the development and utilisation of large databases and demand-refined methods to meet new requirements use industrial mathematics as an enabler of these methods implementation.

Accordingly, the interaction of mathematics and industry, creation of mathematical and statistical models and development of numerical methods and/or algorithms for computers, to obtain solutions for real-world problems have become especially crucial for the Industry 4.0 concept and further business development.

Consequently, the goal of this Special Issue is to explore challenges as well as innovative tendencies and develop mathematical methods/models for applying them into engineering and industry. A further objective is to emphasise the linkage among mathematics, technology and business through mathematical modelling, computational techniques, statistical reasoning, analysis of structure and logical thinking. Based on these fundamentals, the purpose is to develop an extended collective expertise in formulating and solving industrial management problems using math models, building knowledge of modelling and numerical techniques fundamental in industry, and to extend it by quantitative economics, analytics, as well as risk management tools.

Prof. Dr. Natalia Kryvinska
Prof. Dr. Michal Greguš
Guest Editors

Manuscript Submission Information

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Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Math modelling of economic and business processes
  • Mathematical applications to enterprise management
  • Math modelling and Industry 4.0
  • Mathematical models for product development and manufacturing
  • Cloud computing, big data, IoT and business analytics
  • Math methods for efficient risk management by industrial enterprises
  • Mathematical methods for service systems engineering
  • Mathematical methods for service analytics
  • Applied mathematics and systems reliability
  • Optimisation methods and industrial management

Published Papers (13 papers)

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13 pages, 4465 KiB  
Article
Influence of Impulse Disturbances on Oscillations of Nonlinearly Elastic Bodies
by Andriy Andrukhiv, Mariia Sokil, Bohdan Sokil, Solomiia Fedushko, Yuriy Syerov, Vincent Karovic, Jr. and Tetiana Klynina
Mathematics 2021, 9(8), 819; https://doi.org/10.3390/math9080819 - 09 Apr 2021
Cited by 6 | Viewed by 1395
Abstract
A method for studying the effect of impulse perturbation on the longitudinal oscillations of a homogeneous constant cross-section of the body and the elastic properties of a material which satisfies the essentially nonlinear law of elasticity has been developed. A mathematical model of [...] Read more.
A method for studying the effect of impulse perturbation on the longitudinal oscillations of a homogeneous constant cross-section of the body and the elastic properties of a material which satisfies the essentially nonlinear law of elasticity has been developed. A mathematical model of the process is presented, which is an equation of hyperbolic type with a small parameter at the discrete right-hand side. The latter expresses the effect of impulse perturbation on the oscillatory process. As for the boundary conditions considered in the work, they are classic of the first, second and third genera. The methodology is based on: the principle of oscillation frequency in nonlinear systems with many degrees of freedom and distributed parameters; basic provisions of asymptotic methods of nonlinear mechanics; the idea of using special periodic Ateb-functions to construct solutions of some classes of nonlinear differential equations; properties of completeness and orthonormality of functions that describe the forms of oscillations of undisturbed motion. In general, the above allowed to obtain relations that describe for the first approximation the defining parameters of the oscillations of an elastic body. Their peculiarity is that even for undisturbed motion, the natural frequency of oscillations depends on the amplitude, and therefore, under the action of a periodic (over time) pulse force on the elastic body, both resonant and nonresonant processes are possible in the latter. It, in contrast to an elastic body with linear or quasilinear elastic properties of the body is determined not only by its basic physical and mechanical properties, but also by the amplitude of oscillations. As a special case, the oscillations of the body under the action of a constant periodic momentum perturbation are considered. It is shown that for the nonresonant case for the first approximation it does not affect the laws of change of amplitude and frequency of the process. As for the resonant is the amplitude of origin through the main resonance significantly depends not only on the speed but also on the points of action of the pulsed perturbation. Moreover, the closer the point of application of the pulsed force to the middle of the elastic body under boundary conditions of the first kind is greater (for boundary conditions of the second kind closer to the end). Full article
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23 pages, 3538 KiB  
Article
Decisions and Coordination in E-Commerce Supply Chain under Logistics Outsourcing and Altruistic Preferences
by Yuyan Wang, Zhaoqing Yu, Liang Shen, Runjie Fan and Rongyun Tang
Mathematics 2021, 9(3), 253; https://doi.org/10.3390/math9030253 - 27 Jan 2021
Cited by 12 | Viewed by 3528
Abstract
Considering the peculiarities of logistics in the electronic commerce (e-commerce) supply chain (ESC) and e-commerce platform’s altruistic preferences, a model including an e-commerce platform, third-party logistics service provider, and manufacturer is constructed. Based on this, three decision models are proposed and equilibrium solutions [...] Read more.
Considering the peculiarities of logistics in the electronic commerce (e-commerce) supply chain (ESC) and e-commerce platform’s altruistic preferences, a model including an e-commerce platform, third-party logistics service provider, and manufacturer is constructed. Based on this, three decision models are proposed and equilibrium solutions are obtained by the Stackelberg game. Then, an “altruistic preference joint fixed-cost” contract is proposed to maximize system efficiency. Finally, numerical analysis is used to validate the findings of the paper. The article not only analyzes and compares the optimal decisions under different ESC models, but also explores the intrinsic factors affecting the decisions. This paper finds that the conclusions of dual-channel supply chains or traditional supply chains do not necessarily apply to ESC, and that the effect of altruistic behavior under ESC is influenced by consumer preferences. Moreover, there is a multiparty win–win state for ESC, and this state can be achieved through the “altruistic preference joint fixed-cost” contract. Therefore, the findings of this paper contribute to the development of an e-commerce market and the cooperation of ESC members. Full article
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13 pages, 475 KiB  
Article
Binary Programming Model for Rostering Ambulance Crew-Relevance for the Management and Business
by Aleksandra Marcikic Horvat, Branislav Dudic, Boris Radovanov, Boban Melovic, Otilija Sedlak and Monika Davidekova
Mathematics 2021, 9(1), 64; https://doi.org/10.3390/math9010064 - 30 Dec 2020
Cited by 3 | Viewed by 2164
Abstract
The nature of health care services is very complex and specific, thus delays and organizational imperfections can cause serious and irreversible consequences, especially when dealing with emergency medical services. Therefore, constant improvements in various aspects of managing and organizing provision of emergency medical [...] Read more.
The nature of health care services is very complex and specific, thus delays and organizational imperfections can cause serious and irreversible consequences, especially when dealing with emergency medical services. Therefore, constant improvements in various aspects of managing and organizing provision of emergency medical services are vital and unavoidable. The main goal of this paper is the development and application of a binary programming model to support decision making process, especially addressing scheduling workforce in organizations with stochastic demand. The necessary staffing levels and human resources allocation in health care organizations are often defined ad hoc, without empirical analysis and synchronization with the demand for emergency medical services. Thus, irrational allocation of resources can result in various negative impacts on the financial result, quality of medical services and satisfaction of both patients and employees. We start from the desired staffing levels determined in advance and try to find the optimal scheduling plan that satisfies all significant professional and regulatory constraints. In this paper a binary programming model has been developed and implemented in order to minimize costs, presented as the sum of required number of ambulance crews. The results were implemented for staff rostering process in the Ambulance Service Station in Subotica, Serbia. Compared to earlier scheduling done ad hoc at the station, the solution of the formulated model provides a better and equable engagement of crews. The developed model can be easily modified and applied to other organizations with the same, stochastic, nature of the demand. Full article
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24 pages, 1880 KiB  
Article
Analysis of Long-Term Impact of Maintenance Policy on Maintenance Capacity Using a Time-Driven Activity-Based Life-Cycle Costing
by Orlando Durán, Paulo Afonso and Vinicius Minatogawa
Mathematics 2020, 8(12), 2208; https://doi.org/10.3390/math8122208 - 12 Dec 2020
Cited by 7 | Viewed by 2235
Abstract
In capital-intensive industries, physical assets and maintenance activities play a relevant and strategic role in terms of providing operational continuity and business sustainability. As a result, maintenance support structures are highly complex and sophisticated. Therefore, maintenance capacity planning must be addressed using reliable [...] Read more.
In capital-intensive industries, physical assets and maintenance activities play a relevant and strategic role in terms of providing operational continuity and business sustainability. As a result, maintenance support structures are highly complex and sophisticated. Therefore, maintenance capacity planning must be addressed using reliable techniques to assure the adequate service levels and availabilities of critical assets at the minimum opportunity cost. There has been relatively limited research on how to determine and optimize the maintenance support structure (human resources) in such organizations. This paper proposes a novel technique for dimensioning and optimizing maintenance capacity that combines Time-Driven Activity-Based Costing and Life-Cycle Costing with the Weibull function-based reliability model. Following the main principles of the Design Science Research we propose a sophisticated but simple artifact. Through this model, it is possible to compute maintenance costs and assess both used and idle capacities, considering the behavior over time of the failure rates and the reliability of critical assets within a plant. To demonstrate how the proposed methodology addresses the problem, the model was applied in a real medium-sized Chilean comminution plant and a sensitivity analysis was performed, particularly, to evaluate the relevance of appropriate maintenance workforce planning. Full article
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14 pages, 669 KiB  
Article
The Dirichlet Problem for the Perturbed Elliptic Equation
by Ulyana Yarka, Solomiia Fedushko and Peter Veselý
Mathematics 2020, 8(12), 2108; https://doi.org/10.3390/math8122108 - 25 Nov 2020
Cited by 15 | Viewed by 1658
Abstract
In this paper, the authors consider the construction of one class of perturbed problems to the Dirichlet problem for the elliptic equation. The operators of both problems are isospectral, which makes it possible to construct solutions to the perturbed problem using the Fourier [...] Read more.
In this paper, the authors consider the construction of one class of perturbed problems to the Dirichlet problem for the elliptic equation. The operators of both problems are isospectral, which makes it possible to construct solutions to the perturbed problem using the Fourier method. This article focuses on the Dirichlet problem for the elliptic equation perturbed by the selected variable. We established the spectral properties of the perturbed operator. In this work, we found the eigenvalues and eigenfunctions of the perturbed task operator. Further, we proved the completeness, minimal spanning system, and Riesz basis system of eigenfunctions of the perturbed operator. Finally, we proved the theorem on the existence and uniqueness of the solution to the boundary value problem for a perturbed elliptic equation. Full article
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18 pages, 600 KiB  
Article
Relationship Stability and Supply Chain Performance for SMEs: From Internal, Supplier, and Customer Integration Perspectives
by Tsu-Ming Yeh, Fan-Yun Pai and Liang-Chuan Wu
Mathematics 2020, 8(11), 1902; https://doi.org/10.3390/math8111902 - 31 Oct 2020
Cited by 16 | Viewed by 2909
Abstract
This study examined the relationship between supply integration and relationship stability and the relationship between relationship stability and performance; furthermore, the moderation effect of environmental uncertainty on supply chain integration and relationship stability was analyzed. The subjects are typical small and medium-sized enterprises [...] Read more.
This study examined the relationship between supply integration and relationship stability and the relationship between relationship stability and performance; furthermore, the moderation effect of environmental uncertainty on supply chain integration and relationship stability was analyzed. The subjects are typical small and medium-sized enterprises (SMEs) in developing countries that focus on niche markets to compete with large-scale manufacturers. Questionnaires were distributed to manufacturers to collect empirical data; in total, 566 valid samples were gathered. The results indicate that supply chain integration has positive effects on relational stability and that relational stability has positive effects on supply chain performance. Relational stability is a mediator between supply chain integration and supply chain performance. The contingency effects of environmental uncertainty on the relationships between internal integration and relational stability were determined in this research. This research framework extended past research on supply chain management; part of the research explored the relationship between supply chain integration and different measures of supply chain performance, as well as whether uncertainty affects supply chain integration and supply chain performance. Full article
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29 pages, 2054 KiB  
Article
Optimising the Preparedness Capacity of Enterprise Resilience Using Mathematical Programming
by Raquel Sanchis, Alfonso Duran-Heras and Raul Poler
Mathematics 2020, 8(9), 1596; https://doi.org/10.3390/math8091596 - 16 Sep 2020
Cited by 5 | Viewed by 3358
Abstract
In today’s volatile business arena, companies need to be resilient to deal with the unexpected. One of the main pillars of enterprise resilience is the capacity to anticipate, prevent and prepare in advance for disruptions. From this perspective, the paper proposes a mixed-integer [...] Read more.
In today’s volatile business arena, companies need to be resilient to deal with the unexpected. One of the main pillars of enterprise resilience is the capacity to anticipate, prevent and prepare in advance for disruptions. From this perspective, the paper proposes a mixed-integer linear programming (MILP) model for optimising preparedness capacity. Based on the proposed reference framework for enterprise resilience enhancement, the MILP optimises the activation of preventive actions to reduce proneness to disruption. To do so, the objective function minimizes the sum of the annual expected cost of disruptive events after implementing preventive actions and the annual cost of such actions. Moreover, the algorithm includes a constraint capping the investment in preventive actions and an attenuation formula to deal with the joint savings produced by the activation of two or more preventive actions on the same disruptive event. The management and business rationale for proposing the MILP approach is to keep it as simple and comprehensible as possible so that it does not require highly mathematically skilled personnel, thus allowing top managers at enterprises of any size to apply it effortlessly. Finally, a real pilot case study was performed to validate the mathematical formulation. Full article
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29 pages, 3300 KiB  
Article
Research Analysis on Emerging Technologies in Corporate Accounting
by Emilio Abad-Segura and Mariana-Daniela González-Zamar
Mathematics 2020, 8(9), 1589; https://doi.org/10.3390/math8091589 - 15 Sep 2020
Cited by 20 | Viewed by 5519
Abstract
The technological transformation has directly affected the functional areas of companies. This circumstance has been a challenge for corporate accounting, since the emerging technology allows handling a large volume of data, and providing valuable information for operational management, managerial control, and strategic planning. [...] Read more.
The technological transformation has directly affected the functional areas of companies. This circumstance has been a challenge for corporate accounting, since the emerging technology allows handling a large volume of data, and providing valuable information for operational management, managerial control, and strategic planning. The aim of this study is to analyze current and future lines of research globally, during the period 1961–2019, on emerging technologies in corporate accounting. For this, bibliometric techniques were applied to 1126 articles on this subject to obtain findings on scientific production and the main subject areas. Scientific production has increased annually, so that in the last decade de 60.66% of all articles have been published. The main subject areas in which more articles were linked were business, management and accounting, social sciences, and economics, econometrics, and finance. Six lines of research have been identified that generate contributions on this topic. Furthermore, the analysis of the relevance of the keywords has detected the main future directions of research. The increasing worldwide trend of scientific production shows interest in developing aspects of this field of study. This study contributes to the academic, scientific, and professional discussion to improve decision-making based on the available information. Full article
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26 pages, 4189 KiB  
Article
A Three-Player Game Model for Promoting the Diffusion of Green Technology in Manufacturing Enterprises from the Perspective of Supply and Demand
by Manman Wang, Shuai Lian, Shi Yin and Hengmin Dong
Mathematics 2020, 8(9), 1585; https://doi.org/10.3390/math8091585 - 14 Sep 2020
Cited by 36 | Viewed by 3479
Abstract
Taking the rational use of environmental regulations to promote the diffusion of green technology innovation in China’s manufacturing enterprises as the starting point, this study analyzed the benefits to the government, innovation-supplying enterprises, and potential demand-oriented enterprises. In addition, a tripartite evolutionary model [...] Read more.
Taking the rational use of environmental regulations to promote the diffusion of green technology innovation in China’s manufacturing enterprises as the starting point, this study analyzed the benefits to the government, innovation-supplying enterprises, and potential demand-oriented enterprises. In addition, a tripartite evolutionary model was constructed to examine the impact of command-and-control environmental regulation and market-driven environmental regulation on the diffusion of green technology innovation in manufacturing enterprises. Finally, the study compared and analyzed the heterogeneous effects of different types of environmental regulation tools on the diffusion of green technology innovation in manufacturing enterprises using local stability analysis and numerical simulation. The results are as follows: (i) When the government does not implement environmental regulation tools or the regulation intensity is relatively small, the diffusion depth of green technology innovation in manufacturing enterprises is zero. (ii) When government regulation reaches a certain level, the system of manufacturing enterprises, innovation-supplying enterprises, and potential demand-oriented enterprises will choose to actively promote the diffusion of green technology innovation following a long evolution process. (iii) Increasing the punishment intensity and subsidy rate of green technology innovation can stimulate the diffusion of green technology innovation in manufacturing enterprises. (iv) The comprehensive use of the two kinds of environmental regulation tools has a heterogeneous influence on the strategic choice of green technology innovation diffusion subjects of manufacturing enterprises, and its incentive effect on potential demand-oriented enterprises is relatively poor. Full article
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18 pages, 5370 KiB  
Article
The Collective Influence of Component Commonality, Adjustable-Rate, Postponement, and Rework on Multi-Item Manufacturing Decision
by Singa Wang Chiu, Liang-Wei You, Tsu-Ming Yeh and Tiffany Chiu
Mathematics 2020, 8(9), 1570; https://doi.org/10.3390/math8091570 - 11 Sep 2020
Cited by 1 | Viewed by 1560
Abstract
The present study explores the collective influence of component commonality, adjustable-rate, postponement, and rework on the multi-item manufacturing decision. In contemporary markets, customer demand trends point to fast-response, high-quality, and diversified merchandise. Hence, to meet customer expectations, modern manufacturers must plan their multiproduct [...] Read more.
The present study explores the collective influence of component commonality, adjustable-rate, postponement, and rework on the multi-item manufacturing decision. In contemporary markets, customer demand trends point to fast-response, high-quality, and diversified merchandise. Hence, to meet customer expectations, modern manufacturers must plan their multiproduct fabrication schedule in the most efficient and cost-saving way, especially when product commonality exists in a series of end products. To respond to the above viewpoints, we propose a two-stage multiproduct manufacturing scheme, featuring an adjustable fabrication rate in stage one for all needed common parts, and manufacturing diversified finished goods in stage two. The rework processes are used in both stages to repair the inevitable, nonconforming items and ensure the desired product quality. We derive the cost-minimized rotation cycle decision through modeling, formulation, cost analysis, and differential calculus. Using a numerical illustration, we reveal the collective and individual influence of adjustable-rate, rework, and postponement strategies on diverse critical system performances (such as uptime of the common part and/or end products, utilization, individual cost factor, and total system cost). Our decision-support model offers in-depth managerial insights for manufacturing and operations planning in a wide variety of contemporary industries, such as household merchandise, clothing, and automotive. Full article
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21 pages, 627 KiB  
Article
Applying the Modified Delphi Method and DANP to Determine the Critical Selection Criteria for Local Middle and Top Management in Multinational Enterprises
by I-Chieh Hsu, Yi-Ju Shih and Fan-Yun Pai
Mathematics 2020, 8(9), 1396; https://doi.org/10.3390/math8091396 - 20 Aug 2020
Cited by 11 | Viewed by 4953
Abstract
Traditionally, multinational enterprises provided middle and top management from the mother country. They would only hire entry-level employees, such as workers, from the domestic country to control the subsidiary. However, local managers benefit from a shared background and culture with the local employees. [...] Read more.
Traditionally, multinational enterprises provided middle and top management from the mother country. They would only hire entry-level employees, such as workers, from the domestic country to control the subsidiary. However, local managers benefit from a shared background and culture with the local employees. Local managers can communicate and cooperate more effectively and smoothly with local employees than foreign mangers can. Therefore, multinational enterprises are increasingly selecting middle and top management from the local market. In this study, we aimed to determine the decision factors that influence the selection of local middle and top management from the perspective of human capital. We attempt to help multinational enterprises to choose and hire middle and top management from local markets. We first identified four dimensions and fourteen criteria according to the literature using the modified Delphi method. Then, DANP (decision making and trial evaluation laboratory (DEMATEL)-based analytic network process) was employed to determine the weights of each criterion or sub-criterion. Academic experts and top managers in multinational enterprises (Taiwanese companies in Vietnam) provided their opinions for data analysis. The results showed that positive psychological capital, managerial competencies, integration, and professional competencies were the four important factors that multinational enterprises consider when they select middle and top management from the local market. We further discussed the theoretical and practical implications of the results. Full article
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9 pages, 556 KiB  
Article
Emotional Intelligence of Engineering Students as Basis for More Successful Learning Process for Industry 4.0
by Slavica Mitrović Veljković, Ana Nešić, Branislav Dudić, Michal Gregus, Milan Delić and Maja Meško
Mathematics 2020, 8(8), 1321; https://doi.org/10.3390/math8081321 - 08 Aug 2020
Cited by 13 | Viewed by 3595
Abstract
The purpose of this paper is creating analyses for understanding the personality characteristics related to emotional intelligence and how can this define the development program of personal characteristics in the processes of education for Industry 4.0. The main research goal is to measure [...] Read more.
The purpose of this paper is creating analyses for understanding the personality characteristics related to emotional intelligence and how can this define the development program of personal characteristics in the processes of education for Industry 4.0. The main research goal is to measure dimensions of emotional intelligence in the student population based on a quantitative survey (Emotional Competence Inventory) through dimensions of emotional intelligence: self-regulation, self-awareness, and attitude towards changes. Since the student population was the research target, a group of 338 engineering students was selected. The group was characterized by highly diversified geographic origin, having previously completed school and achieved success. The results show that there are statistically significant differences between all three dimensions of emotional intelligence. Namely, self-regulation and attitude towards changes (both directly and indirectly through self-regulation) are positively affected by self-awareness, while attitude towards changes is positively affected by self-regulation. Developing student emotional potential is one of the most important actuators of business for Industry 4.0, especially in countries with low educational attainment and low social and economic indicators. Full article
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9 pages, 214 KiB  
Article
Assessment of Rough Set Theory in Relation to Risks Regarding Hydraulic Engineering Investment Decisions
by Jihong Qu, Xiao Bai, Jiajun Gu, Farhad Taghizadeh-Hesary and Ji Lin
Mathematics 2020, 8(8), 1308; https://doi.org/10.3390/math8081308 - 06 Aug 2020
Cited by 12 | Viewed by 2572
Abstract
Rough set theory is a mathematics tool specifying imperfection and uncertainty. Based on the knowledge theory of the rough set, the numerical values of some features or attributes are not required. Through data reduction, this article analyzes the investment decision of hydraulic engineering [...] Read more.
Rough set theory is a mathematics tool specifying imperfection and uncertainty. Based on the knowledge theory of the rough set, the numerical values of some features or attributes are not required. Through data reduction, this article analyzes the investment decision of hydraulic engineering and obtains the following by reduction: i. when the construction expense of the hydraulic engineering is low, but the financial income is high, the investment in the construction project can be selected; ii. when the expense of the hydraulic construction project is low and the external influence is common or the financial expense is common, if the external influence is low or the financial income is high, the investment can be delayed; iii. when the construction strategic benefit of the hydraulic engineering is low, the decision rule of no investment can be selected. The novel findings discovered by this article have provided scientific information regarding investment decisions of hydraulic engineering. Full article
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