Cardinal Utility and Decision Making in the Soybean Processing Industry

1967 ◽  
Vol 49 (4) ◽  
pp. 942
Author(s):  
Hazen F. Gale
Keyword(s):  
Decision Making ◽  
Cardinal Utility ◽  
Processing Industry ◽  
Soybean Processing

Futures Markets and Marketing Firms: The U.S. Soybean‐Processing Industry

1992 ◽  
Vol 74 (3) ◽  
pp. 716-725 ◽  
Author(s):  
Sergio H. Lence ◽  
Dermot J. Hayes ◽  
William H. Meyers
Keyword(s):  
Futures Markets ◽  
Processing Industry ◽  
Soybean Processing ◽  
Marketing Firms ◽  
The U.S

scholarly journals The Cost of Information in Dependence on the Investor Relation to the Risk

2012 ◽  
Vol 11 (1) ◽  
pp. 73-85
Author(s):  
Simona Hašková
Keyword(s):  
Decision Making ◽  
Utility Theory ◽  
Investment Decision ◽  
Investment Decisions ◽  
Reliable Estimate ◽  
Ordinary People ◽  
Cardinal Utility ◽  
Finance Theory ◽  
The Cost

Abstract The contribution sets simple mathematic models describing and explaining the way of behavior of various types of investors (the private and institutionalized ones). The models come from the cardinal utility theory which is used for explaining the connection between the subjective relationship towards risk and some pathologic phenomenon of finance theory (for example the moral hazard question of institutionalized investors) and takes into account the decision making of both ordinary people and professional investors. A reliable estimate of the economic surroundings where the investment should run contributes significantly to a quality of the particular investment decisions. The article contributes to a quality of the investment decision by the original and primary approach to pricing information that lowers the uncertainty in occurrences of the relevant scenarios of the project’s development. At the conclusion there is shown how the shift of the decision breaking point shapes the amount of the acceptable price of the information.

scholarly journals A DEMATEL Method to Analyze the Barriers of Supply Chain Management in Food Processing Industry

2019 ◽  
Vol 9 (1S4) ◽  
pp. 639-644
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Food Processing ◽  
Food Processing Industry ◽  
Processing Industry ◽  
Chain Management ◽  
Managerial Implications ◽  
Effective Decision

In food processing industry, implementation of supply chain management (SCM) is confronting and complex one by involving different barriers because if affects the performance of organization. If some barriers are noticed, observed and recognized it can be reduced. The objective of the paper is to recognize the barriers by risk assessment. Risk assessment in an industry can help supply chain managers to choose effective decision of the problems. This research proposes a case study conducted on the leading food processing industry in southern region of India. In this paper, to analyze the barriers by using hybrid multi-criteria decision making method like Decision making trial and evaluation laboratory (DEMATEL). Barriers collected from the literature survey were used to evaluate the most influential barriers of supply chain management with the assist of industrial experts. The suggested framework was validated with case industry and the results are compared with the existing literatures and comments from experts. Also, this paper finishes with an assessment of own drawbacks beside the identification of useful managerial implications; it depicts future developments possible in the process of supply chain management in the context of India.

Novel Taguchi scheme–based DEMATEL methods and DEMATEL method for the principal performance indicators of maintenance in a food processing industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Victor Chidiebere Maduekwe ◽  
Sunday Ayoola Oke
Keyword(s):  
Decision Making ◽  
Performance Indicators ◽  
Food Processing ◽  
Analysis Data ◽  
Processing Plant ◽  
Food Processing Industry ◽  
Processing Industry ◽  
Content Type ◽  
Maintenance System ◽  
Key Performance Indication

PurposeKey performance indicators (KPIs) of maintenance systems serve as benchmarks to workers and organizations to compare their goals for decision-making purposes. Unfortunately, the effects of one KPI on the other are least known, restraining decisions on prioritization of KPIs. This article examines and prioritizes the KPIs of the maintenance system in a food processing industry using the novel Taguchi (T) scheme-decision-making trial and evaluation laboratory (DEMATEL) method, Taguchi–Pareto (TP) scheme–DEMATEL method and the DEMATEL method.Design/methodology/approachThe causal association of maintenance process parameters (frequency of failure, downtime, MTTR, MTBF, availability and MTTF) was studied. Besides, the optimized maintenance parameters were infused into the DEMATEL method that translates the optimized values into cause and effect responses and keeping in view the result of analysis. Data collection was done from a food processing plant in Nigeria.FindingsThe results indicated that downtime and availability have the most causal effects on other criteria when DEMATEL and T-DEMATEL methods were respectively applied to the problem. Furthermore, the frequency of failure is mostly affected by other criteria in the key performance indication selection using the two methods. The combined Taguchi scheme and DEMATEL method is appropriate to optimize and establish the causal relationships of factors.Originality/valueHardly any studies have reported the joint optimization and causal relationship of maintenance system parameters. However, the current study achieves this goal using the T-DEMATEL, TP-DEMATEL and DEMATEL methods for the first time. The applied methods effectively ease decisions on prioritization of KPIs for enhancement.

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