Optimization Modeling for Logistics: Options and Implementations

Logistics optimization has significantly grown in popularity over the last few decades. Improvements in computing power, modeling software, and the willingness of companies to invest time in the modeling effort have allowed models that were once too unwieldy to solve to optimality to be solved quickly. This has led to a more wide‐spread recognition by logistics managers of the potential advantages of using optimization. The scope of logistics optimization in companies and organizations has expanded to address strategic, tactical, operational, and collaborative decision making. Spreadsheets, an analytical tool familiar to managers, have played a crucial role in the expanded modeling efforts of companies. Although optimization’s role in logistics has grown tremendously, there still are areas that remain to be explored that will allow it to achieve an even larger and more successful role in the management of companies. Additionally, there are some models that are still too large or too complex to currently solve to optimality, despite the advances in computing power and modeling/solving software.     

Hotel executive microcomputer use in the United States

With the advent of the microcomputer revolution in the United States, the lodging industry is taking advantage of the new technology. Computerized property management systems for small properties are available at reasonable cost using microcomputers. Both large hotel corporation applications of microcomputers and individual property uses are given. Models for management use of electronic spreadsheet programs for budgeting as well as financial and operational control are shown. The examples use VisiCalc and Lotus 1–2–3. Management training for microcomputer use by the large hotel corporations is also examined. The new technology will hasten the computerization of the lodging industry.     

Aristotle and Earthquake Data: A Historical Note

The earliest known written work on earthquake theory was written by Aristotle (c. 330 B.C.). Aristotle had collected a lot of earthquake data and therefore we assume (or rather speculate) he had to organize, to classify and to summarize them in order to use and describe them in his work. With respect to the history of Statistics, the Aristotelian text on earthquake theory is probably the earliest written application of statistical tables on collected data.     

The effectiveness of using spreadsheets to teach financial accounting

There have been numerous attempts to integrate micro-computers into the teaching of accounting courses in higher education. Two of the reasons that have been suggested for using computers on accounting courses are: firstly, the educational benefits and, secondly, that students will then be equipped with the computing and spreadsheet skills that they will require in the workplace. One method of using the computer is to use it as a computational tool, allowing the student to develop models from scratch. Such an approach was developed by Marriott & Simon (1990a). However, as there is little evidence regarding the educational effectiveness of using such methods, a rigourous and structured research project was conducted using first–year accounting degree students at Cardiff Business School. This article outlines the rationale for the project and analyses the results obtained. The results indicate that while spreadsheets can be successfully integrated into an accounting course, their use had no measurable impact on test performance. However, the use of computers can still be deemed to be worthwhile as the students' computer skills are enhanced and it permits further integration in other courses where educational benefits may be more readily obtained.     

On the Utility of E-Learning in Statistics

Students of introductory courses consider statistics as particularly difficult, as the understanding of the underlying concepts may require more time and energy than for other disciplines. For decades statisticians have tried to enhance understanding with the help of technical solutions such as animation, video or interactive tools. However, it is not clear if the added value generated by these e‐learning tools justifies the work invested. In this paper the experience with various e‐learning solutions in terms of utility and the impact on teaching is discussed.     

Teaching Chain-Weight Real GDP Measures

In 1996, the Bureau of Economic Analysis (BEA) changed the method used to calculate measures of real GDP from a Laspeyres or Paasche index to a Fisher ideal index, also called a chain-weight index. Even though this is a significant change in approach and has resulted in extensive revisions of reported statistics, many authors of intermediate-level textbooks treat this topic casually, if at all. In this article, the author presents two applications in which this topic can be explored more thoroughly, with the help of spreadsheet software. One exercise introduces the concept of the chain-weight index by comparing it to Laspeyres, Paasche, and ideal indexes with the use of utility analysis. The second exercise is a step-by-step process to calculate chain-weight index statistics.