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Most of the existing literature on optimal trade execution in limit order book models assumes that resilience is positive. But negative resilience also has a natural interpretation, as it models self-exciting behaviour of the price impact, where trading activities of the large investor stimulate other market participants to trade in the same direction. In the paper we discuss several new qualitative effects on optimal trade execution that arise when we allow resilience to take negative values. We do this in a framework where both market depth and resilience are stochastic processes. [ABSTRACT FROM AUTHOR]

In this paper, we study the pricing of contracts in fixed income markets under volatility uncertainty in the sense of Knightian uncertainty or model uncertainty. The starting point is an arbitrage-free bond market under volatility uncertainty. The uncertainty about the volatility is modeled by a G-Brownian motion, which drives the forward rate dynamics. The absence of arbitrage is ensured by a drift condition. Such a setting leads to a sublinear pricing measure for additional contracts, which yields either a single price or a range of prices and provides a connection to hedging prices. Similar to the forward measure approach, we define the forward sublinear expectation to simplify the pricing of cashflows. Under the forward sublinear expectation, we obtain a robust version of the expectations hypothesis, and we show how to price options on forward prices. In addition, we develop pricing methods for contracts consisting of a stream of cashflows, since the nonlinearity of the pricing measure implies that we cannot price a stream of cashflows by pricing each cashflow separately. With these tools, we derive robust pricing formulas for all major interest rate derivatives. The pricing formulas provide a link to the pricing formulas of traditional models without volatility uncertainty and show that volatility uncertainty naturally leads to unspanned stochastic volatility. [ABSTRACT FROM AUTHOR]

We analyze the problem of constructing multiple buy-and-hold mean-variance portfolios over increasing investment horizons in continuous-time arbitrage-free stochastic interest rate markets. The orthogonal approach to the one-period mean-variance optimization of Hansen and Richard (Econometrica 55(3):587–613, 1987) requires the replication of a risky payoff for each investment horizon. When many maturities are considered, a large number of payoffs must be replicated, with an impact on transaction costs. In this paper, we orthogonally decompose the whole processes defined by asset returns to obtain a mean-variance frontier generated by the same two securities across a multiplicity of horizons. Our risk-adjusted mean-variance frontier rests on the martingale property of the returns discounted by the log-optimal portfolio and features a horizon consistency property. The outcome is that the replication of a single risky payoff is required to implement such frontier at any investment horizon. As a result, when transaction costs are taken into account, our risk-adjusted mean-variance frontier may outperform the traditional mean-variance optimal strategies in terms of Sharpe ratio. Realistic numerical examples show the improvements of our approach in medium- or long-term cashflow management, when a sequence of target returns at increasing investment horizons is considered. [ABSTRACT FROM AUTHOR]

Empirical studies have emphasized that the equity implied volatility is characterized by a negative skew inversely proportional to the square root of the time-to-maturity. We examine the short-time-to-maturity behavior of the implied volatility smile for pure jump exponential additive processes. An excellent calibration of the equity volatility surfaces has been achieved by a class of these additive processes with power-law scaling. The two power-law scaling parameters are β , related to the variance of jumps, and δ , related to the smile asymmetry. It has been observed, in option market data, that β = 1 and δ = - 1 / 2 . In this paper, we prove that the implied volatility of these additive processes is consistent, in the short-time, with the equity market empirical characteristics if and only if β = 1 and δ = - 1 / 2 . [ABSTRACT FROM AUTHOR]

A Systemic Optimal Risk Transfer Equilibrium (SORTE) was introduced in: "Systemic optimal risk transfer equilibrium", Mathematics and Financial Economics (2021), for the analysis of the equilibrium among financial institutions or in insurance-reinsurance markets. A SORTE conjugates the classical Bühlmann's notion of a risk exchange equilibrium with a capital allocation principle based on systemic expected utility optimization. In this paper we extend such a notion to the case when the value function to be optimized is multivariate in a general sense, and it is not simply given by the sum of univariate utility functions. This takes into account the fact that preferences of single agents might depend on the actions of other participants in the game. Technically, the extension of SORTE to the new setup requires developing a theory for multivariate utility functions and selecting at the same time a suitable framework for the duality theory. Conceptually, this more general framework allows us to introduce and study a Nash Equilibrium property of the optimizer. We prove existence, uniqueness, and the Nash Equilibrium property of the newly defined Multivariate Systemic Optimal Risk Transfer Equilibrium. [ABSTRACT FROM AUTHOR]

After the outbreak of COVID-19 pandemic, devising an effective reverse logistics supply chain to clean up disaster medical waste is conducive to controlling and containing novel coronavirus transmission. Thus, the focus of this paper concentrates on multi-period multi-type disaster medical waste location-transportation integrated optimization problem with the concern of sustainability, which is formulated as a tri-objective mixed-integer programming model with the goals of maximizing total economic benefits, minimizing total carbon emissions and total potential social risks. Then, a real-world case from Wuhan using CPLEX solver is used to validate the developed model. Results indicate that constructing DMWTTSs with flexible capacity in different periods is encouraged to handle the sharply increasing disaster medical waste. The multi-period decision model outperforms the single-period one in disaster medical waste supply chains because the former has the capability of handling the uncertainties in the future periods. Increasingly, since the increase of budget doesn't always work well and social resources are limited, the estimation of minimum budget to obtain optimum overall performance is of great importance. [ABSTRACT FROM AUTHOR]

Large-scale disasters occur worldwide, with a continuing surge in the frequency and severity of disruptive events. Researchers have developed several optimization models to address the critical challenges of disaster relief supply chains (e.g., emergency material reserving and scheduling inefficiencies). However, most developed algorithms are proven to have low fault tolerance, which makes it difficult for disaster relief supply chain managers to obtain optimal solutions and meet the emergency distribution requirements within a limited time frame. Considering the uncertainty and ambiguity of disaster relief information and using Interval Type-2 Fuzzy Set (IT2TFS), this paper presents a collaborative optimization model based on an integrative emergency material supplier evaluation framework. The optimal emergency material suppliers are first selected using a multi-attribute group decision-making ranking method. Multi-objective fuzzy optimization is then run in three emergency phases: early -, mid-, and late-disaster relief stages. Focusing on a massive flash flood disaster event in Yunnan Province as a case study, a comprehensive numerical analysis tests and validates the developed model. The results revealed that the proposed optimization method can optimize emergency material planning while ensuring that reserve material safety inventory is always maintained at a reasonable level. The presented method suggests a fuzzy interval to prevent emergency materials' safety inventory shortage and minimize continuous life/property losses in disaster-affected areas. [ABSTRACT FROM AUTHOR]

Disruption from the COVID-19 pandemic has caused major upheavals for manufacturing, and has severe implications for production networks, and the demand and supply chains underpinning manufacturing operations. This paper is the first of its kind to pull together research on both—the pandemic-related challenges and the management interventions in a manufacturing context. This systematic literature review reveals the frailty of supply chains and production networks in withstanding the pressures of lockdowns and other safety protocols, including product and workforce shortages. These, altogether, have led to closed facilities, reduced capacities, increased costs, and severe economic uncertainty for manufacturing businesses. In managing these challenges and stabilising their operations, manufacturers are urgently intervening by—investing in digital technologies, undertaking resource redistribution and repurposing, regionalizing and localizing, servitizing, and targeting policies that can help them survive in this altered economy. Based on holistic analysis of these challenges and interventions, this review proposes an extensive research agenda for future studies to pursue. [ABSTRACT FROM AUTHOR]

The governments' isolation measures to contain the transmission of COVID-19 imposed a dilemma for the people at the bottom of the pyramid. Since these people have very unreliable sources of income, a dilemma arises: they must either work under risky conditions or refrain from work and suffer from income cuts. Emergency donations of food and cleaning supplies in a pandemic context might be overlooked by government and civil society actors. This paper aims to model the effects of donations on mitigating the negative effects of COVID-19 on vulnerable communities. Applying the system dynamics method, we simulated the behaviour of the pandemic in Rio de Janeiro (Brazil) communities and the impacts that donations of food and cleaning supplies have in these settings. We administered surveys to the beneficiaries and local organisations responsible for the final distribution of donations to gather information from the field operations. The results show that increasing access to cleaning supplies in communities through donations can significantly reduce coronavirus transmission, particularly in high-density and low-resource areas, such as slums in urban settings. In addition, we also show that food donations can increase the vulnerable population's ability to afford necessities, alleviating the stress caused by the pandemic on this portion of the population. Therefore, this work helps decision-makers (such as government and non-governmental organisations) understand the impacts of donations on controlling outbreaks, especially under COVID-19 conditions, in a low-resource environment and, thus, aid these hard-to-reach populations in a pandemic setting. [ABSTRACT FROM AUTHOR]

The location planning of relief distribution centres (DCs) is crucial in humanitarian logistics as it directly influences the disaster response and service to the affected victims. In light of the critical role of facility location in humanitarian logistics planning, the study proposes a two-stage relief distribution location problem. The first stage of the model determines the minimum number of relief DCs, and the second stage find the optimal location of these DCs to minimize the total cost. To address a more realistic situation, restrictions are imposed on the coverage area and capacity of each DCs. In addition, for optimally solving this complex NP-hard problem, a novel two-phase algorithm with exploration and exploitation phase is developed in the paper. The first phase of the algorithm i.e., exploration phase identifies a near-optimal solution while the second phase i.e. exploitation phase enhances the solution quality through a close circular proximity investigation. Furthermore, the comparative analysis of the proposed algorithm with other well-known algorithms such as genetic algorithm, pattern search, fmincon, multistart and hybrid heuristics is also reported and computationally tested from small to large data sets. The results reveal that the proposed two-phase algorithm is more efficient and effective when compared to the conventional metaheuristic methods. [ABSTRACT FROM AUTHOR]

The world is facing an unprecedented humanitarian crisis due to the COVID-19 pandemic. Humanitarian service systems are being empowered to tackle this crisis through the use of vast amounts of structured and unstructured data to protect vulnerable individuals and communities. Analytics has emerged as a powerful platform to visualise, predict, and prescribe solutions to humanitarian crises, such as disease containment, healthcare capacity, and emergency food supply. However, there is a paucity of research on the microfoundations of the humanitarian analytics empowerment capability. As such, drawing on dynamic capability theory and by means of a systematic literature review and thematic analysis, this study proposes an analytics empowerment capability framework for humanitarian service systems. The findings show that analytics culture, technological sophistication, data-driven insights, decision making autonomy, knowledge and skills, and training and development are crucial components of the analytics empowerment's capability to sense, seize, and remedy crisis situations. The paper discusses both theoretical and practical research implications. [ABSTRACT FROM AUTHOR]

The COVID 19 has brought unprecedented changes in the way we communicate. There is a greater accent on Virtual communication. This paper aims to establish a relationship between Emotional intelligence and the effectiveness of Virtual communication on Decision making. This empirical study is based on a sample drawn from 296 working professionals at five different levels of organizational hierarchy. A standardized questionnaire (ɑ = 0.824) was used to collect the responses of Emotional intelligence, Virtual communication, and Decision-making effectiveness. Hierarchical regression using PROCESS Macro model 1 was used to identify the moderating effect of Emotional intelligence on Virtual communication and Decision making effectiveness. Since the p-value (p ≤.007) is found significant, Emotional intelligence acts as a moderator that affects the strength of the relationship between Virtual communication effectiveness and Decision making. Validation of Task Technology fit theory is the theoretical implication of the study. Manipulation of individual dimensions in the model can reduce the dependence on technology for task completion with enhanced performance effectiveness. The findings are relevant to educators, consultants, and any professional who need to adapt Virtual communication platforms on an ongoing basis. Since work-life balance is projected as a constraint in this study, policymakers can consider policy amendments to reduce the stress caused due to Virtual communication which intrudes into their personal space. This empirical study is the first of its kind to benchmark the organizational practice of Emotional intelligence training to enhance Virtual communication and Decision making effectiveness during unprecedented times of pandemic. [ABSTRACT FROM AUTHOR]

Entering the COVID-19 pandemic wreaked havoc on supply chains. Reacting to the pandemic and adaptation in the "new normal" have been challenging tasks. Exiting the pandemic can lead to some after-shock effects such as "disruption tails." While the research community has undertaken considerable efforts to predict the pandemic's impacts and examine supply chain adaptive behaviors during the pandemic, little is known about supply chain management in the course of pandemic elimination and post-disruption recovery. If capacity and inventory management are unaware of the after-shock risks, this can result in highly destabilized production–inventory dynamics and decreased performance in the post-disruption period causing product deficits in the markets and high inventory costs in the supply chains. In this paper, we use a discrete-event simulation model to investigate some exit strategies for a supply chain in the context of the COVID-19 pandemic. Our model can inform managers about the existence and risk of disruption tails in their supply chains and guide the selection of post-pandemic recovery strategies. Our results show that supply chains with postponed demand and shutdown capacity during the COVID-19 pandemic are particularly prone to disruption tails. We then developed and examined two strategies to avoid these disruption tails. First, we observed a conjunction of recovery and supply chain coordination which mitigates the impact of disruption tails by demand smoothing over time in the post-disruption period. Second, we found a gradual capacity ramp-up prior to expected peaks of postponed demand to be an effective strategy for disruption tail control. [ABSTRACT FROM AUTHOR]

In this paper, we consider a shortest path network interdiction problem with incomplete information and multiple levels of interdiction intensity. The evader knows the attacker's decision on the network arcs that have been interdicted. However, the extent of damage on each arc depends on the interdiction intensity and the amount of budget spent for interdiction. We consider two cases in which the evader has incomplete information about both the intensity of attack on the interdicted arcs and the additional cost imposed for traversing those arcs. In the first case, the evader's perception of this cost falls in an interval of uncertainty. In the second case, it is assumed that the evader estimates a relative frequency for each level of interdiction intensity. This gives rise to multiple uncertainty sets for the evader's estimates of the additional cost. To handle the uncertainty that arises in both cases, a robust optimization approach is employed to derive the mathematical formulation of underlying bilevel optimization problem. For each case, we first take the well-known duality-based approach to reformulate the problem as a single-level model. We show that this method does not always end up with an integer solution or fails in achieving a solution within the time limit. Therefore, we develop an alternative algorithm based on the decomposition approach. Computational results show that the proposed algorithm outperforms the duality-based method to obtain the optimal solution. Last, a real case study is presented to show the applicability of the studied problem. [ABSTRACT FROM AUTHOR]

Recent pandemic outbreaks, including the COVID-19 and SARS, have revealed that supply chains (SCs) are unable to respond to such disasters. To mitigate the destructive impacts and improve the performance of SCs, Operations Research (OR) techniques have been applied to address the issues over the last two decades. The objective of this paper is to develop a network data envelopment analysis (NDEA) model to measure the resilience and sustainability of healthcare SCs in response to the COVID-19 pandemic outbreak. In the proposed NDEA model, for the first time, outputs' weak disposability, chance-constrained programming (CCP), the convexity assumption, and the semi-oriented radial approach are aggregated. Moreover, a modified directional distance function (DDF) measure is developed to measure the overall and divisional efficiency scores. Furthermore, the proposed model can deal with different types of data such as integer-valued data, negative data, stochastic data, ratio data, and undesirable outputs. Also, several useful and interesting properties of the novel efficiency measure are presented. Finally, we measure the performance of 28 healthcare SCs to demonstrate the applicability and capability of our proposed approach. [ABSTRACT FROM AUTHOR]

This paper solves the mean variance skewness kurtosis (MVSK) portfolio optimization problem by introducing a general Pareto–Dirichlet method. We approximate the feasible portfolio set with a calibrated Dirichlet distribution, where a portfolio is MVSK efficient if its profile in terms of the first four moments is not dominated by any other portfolio. Compared to existing higher order portfolio optimization methods, the Pareto–Dirichlet approach cannot misclassify inefficient portfolios as efficient and produces the efficient set in a very quick way. Coupling the Pareto–Dirichlet approach with a new criterion that generalizes the Sharpe ratio, we are able to produce optimal portfolios in a quick way also. We illustrate our approach with Fama-French 30 Industry Portfolios, where we show that the optimal portfolios derived with our method are preferred to those derived with other optimization schemes by all tested classic performance measures. [ABSTRACT FROM AUTHOR]

Organization's sustainability performance is influenced by its suppliers' sustainability performance. This relationship makes sustainable supplier development a strategic competitive option for a buyer or focal organization. When considering sustainable supplier development practices (SSDPs) adoption, organizations have to balance and consider their limited financial resources and operational constraints. It becomes necessary to both select the best SSDPs set and investment allocation among the selected SSDP set such that the organization can maximize overall sustainability performance level. In this paper, an integrated formal modeling methodology using DEMATEL, the NK model, and multi-objective linear programming model is used support this objective. The proposed methodology is evaluated in a practical sustainable supply chain field study of an equipment manufacturing company in China. Through case study, we found that the interdependency among SSDPs must be considered in SSDPs selection and investment allocation problem. Theoretical, managerial and methodology implications, conclusions, and directions for future research are also presented. [ABSTRACT FROM AUTHOR]

Applications of data envelopment analysis (DEA) often include inputs and outputs that are embedded in some other inputs or outputs. For example, in a school assessment, the sets of students achieving good academic results or students with special needs are subsets of the set of all students. In a hospital application, the set of specific or successful treatments is a subset of all treatments. Similarly, in many applications, labour costs are a part of overall costs. Conventional variable and constant returns-to-scale DEA models cannot incorporate such information. Using such standard DEA models may potentially lead to a situation in which, in the resulting projection of an inefficient decision making unit, the value of an input or output representing the whole set is less than the value of an input or output representing its subset, which is physically impossible. In this paper, we demonstrate how the information about embedded inputs and outputs can be incorporated in the DEA models. We further identify common scenarios in which such information is redundant and makes no difference to the efficiency assessment and scenarios in which such information needs to be incorporated in order to keep the efficient projections consistent with the identified embeddings. [ABSTRACT FROM AUTHOR]

Waste management is an important issue in the field of green logistics. It has consequently drawn the attention of the scientific community and has been extensively investigated over the past few years. Through an analysis of the existing waste management literature, we attempt in this paper to better understand past developments in this area as well as emerging trends and recent developments. Emphasis will be put mainly on Operations Research and Management Science techniques when dealing with waste management problems. To reach this target, we follow bibliometric-based methods, specifically Co-citation Analysis, Betweenness Centrality and Burst Detection combined with network visualization. After identifying the research papers published between 1990 and 2018 within the Thomson Reuters Web of Science database, a Co-citation network has been constructed. We propose an algorithm for modularity-based clustering in small networks that iteratively solves a sequence of Mixed Integer Non-linear Programming problems to maximize the modularity therefore providing a non-overlapping partition of the network. A display of the principal research areas and landmark articles that shape the intellectual structure of the waste management problems during the last 30 years is reported. [ABSTRACT FROM AUTHOR]

Stochastic multicriteria acceptability analysis (SMAA) is a family of multiple criteria decision making (MCDM) methods dealing with incomplete, imprecise, and uncertain information on the evaluations and preference model parameters. As it provides a general framework that has extensions to deal with various specificities in MCDM problems, the development of SMAA methods and their applications in real-life decision-making problems have been increased over the recent years. This paper provides an up-to-date literature review of different SMAA methods and their applications in various areas. First, we selected, from different on-line data base, 118 articles published between 1998 and 2017. We categorized the selected papers into theoretical and applied. While the theoretical papers were analyzed based on the method's aggregation procedure, type of problem, type of method's outputs and inputs, the applied papers were separated and analyzed by application areas. Then, we provide some descriptive statistics, analyzing the papers regarding to publication year and journals of publication. Finally, we provide some guidelines to assist decision-makers in the choice of a SMAA method on a specific decision-making context and some future research directions. [ABSTRACT FROM AUTHOR]

This special issue of the I Annals of Operations Research i comprises a selection of papers from worldwide researchers in the field. We encouraged submissions from the 3rd Symposium on Quantitative Finance and Risk Analysis (QFRA) held in June 2017 at the island of Corfu in Greece, although the call for papers was open to all researchers in the field. We extend our gratitude to all the referees for their devotion and time to reading, assessing, and providing high-quality reports for the papers they reviewed that definitely helped the authors enhance their papers and us to make our final decision. [Extracted from the article]

In this paper, a mixed-integer linear programming model is discussed to provide joint decision making for facility location and production–distribution across countries for both forward and reverse logistics. A hybrid facility network is considered for cost-cutting and equipment sharing where the facilities of forward logistics are also equipped to provide reverse logistics services. The model considers the dynamic production and storage capacity of the facilities which can be expanded if required. Furthermore, the effectiveness of the model is tested to deal with disruptions due to man-made or natural disasters. The dynamic facility allocation enables the model to withstand the demand/supply disruptions in a disaster-affected zone. Besides this, the model considers carbon emissions caused due to manufacturing, remanufacturing, repair, storage and transportation. These emissions are regulated using cap and trade policy Thus, the proposed model balances resilience and sustainability under uncertain market demand and product returns. The chance-constrained approach is used to obtain the deterministic equivalence of the stochastic demand and returns. The paper also investigates the changes in emission and production level in each country under demand and supply disruptions. The parameters of the model are mapped with the various dimensions of big data such as volume, velocity and variety. The proposed model is solved using randomly generated data sets having realistic parameters with essential big data characteristics. [ABSTRACT FROM AUTHOR]

This paper surveys the increasing use of statistical approaches in non-parametric efficiency studies. Data Envelopment Analysis (DEA) and Free Disposable Hull (FDH) are recognized as standard non-parametric methods developed in the field of operations research. Kneip et al. (Econom Theory, 14:783–793, 1998) and Park et al. (Econom Theory, 16:855–877, 2000) develop statistical properties of the variable returns-to-scale (VRS) version of DEA estimators and FDH estimators, respectively. Simar & Wilson (Manag Sci 44, 49–61, 1998) show that conventional bootstrap methods cannot provide valid inference in the context of DEA or FDH estimators and introduce a smoothed bootstrap for use with DEA or FDH efficiency estimators. By doing so, they address the main drawback of non-parametric models as being deterministic and without a statistical interpretation. Since then, many articles have applied this innovative approach to examine efficiency and productivity in various fields while providing confidence interval estimates to gauge uncertainty. Despite this increasing research attention and significant theoretical and methodological developments in its first two decades, a specific and comprehensive bibliometric analysis of bootstrap DEA/FDH literature and subsequent statistical approaches is still missing. This paper thus, aims to provide an extensive overview of the key articles and their impact in the field. Specifically, in addition to some summary statistics such as citations, the most influential academic journals and authorship network analysis, we review the methodological developments as well as the pertinent software applications. [ABSTRACT FROM AUTHOR]

Presents the preface for the April 2005 issue of "Annals of Operations Research."

Computational methods for rostering and personnel scheduling has been a subject of continued research and commercial interest since the 1950s. This annotated bibliography puts together a comprehensive collection of some 700 references in this area, focusing mainly on algorithms for generating rosters and personnel schedules but also covering related areas such as workforce planning and estimating staffing requirements. We classify these papers according to the type of problem addressed, the application areas covered and the methods used. In addition, a short summary is provided for each paper. [ABSTRACT FROM AUTHOR]

A preface for the 2008 issue of "Annals of Operations Research" is presented.

In this paper, we address the controversies of epidemic control planning by developing a novel Simulation-Deep Reinforcement Learning (SiRL) model. COVID-19 reminded constituents over the world that government decision-making could change their lives. During the COVID-19 pandemic, governments were concerned with reducing fatalities as the virus spread but at the same time also maintaining a flowing economy. In this paper, we address epidemic decision-making regarding the interventions necessary given of the epidemic based on the purpose of the decision-maker. Further, we intend to compare different vaccination strategies, such as age-based and random vaccination, to shine a light on who should get priority in the vaccination process. To address these issues, we propose a simulation-deep reinforcement learning (DRL) framework. This framework is composed of an agent-based simulation model and a governor DRL agent that can enforce interventions in the agent-based simulation environment. Computational results show that our DRL agent can learn effective strategies and suggest optimal actions given a specific epidemic situation based on a multi-objective reward structure. We compare our DRL agent's decisions to government interventions at different periods of time during the COVID-19 pandemic. Our results suggest that more could have been done to control the epidemic. In addition, if a random vaccination strategy that allows super-spreaders to get vaccinated early were used, infections would have been reduced by 32% at the expense of 4% more deaths. We also show that a behavioral change of fully quarantining 10% of the risky individuals and using a random vaccination strategy leads to a reduction of the death toll by 14% and 27% compared to the age-based vaccination strategy that was implemented and the New Jersey reported data, respectively. We have also demonstrated the flexibility of our approach to be applied to other locations by validating and applying our model to the COVID-19 case in the state of Kansas. [ABSTRACT FROM AUTHOR]

In this paper, a new responsive-green-cold vaccine supply chain network during the COVID-19 pandemic is developed for the first time. According to the proposed network, a new multi-objective, multi-period, multi-echelon mathematical model for the distribution-allocation-location problem is designed. Another important novelty in this paper is that it considers an Internet-of-Things application in the COVID-19 condition in the suggested model to enhance the accuracy, speed, and justice of vaccine injection with existing priorities. Waste management, environmental effects, coverage demand, and delivery time of COVID-19 vaccine simultaneously are therefore considered for the first time. The LP-metric method and meta-heuristic algorithms called Gray Wolf Optimization (GWO), and Variable Neighborhood Search (VNS) algorithms are then used to solve the developed model. The other significant contribution, based on two presented meta-heuristic algorithms, is a new heuristic method called modified GWO (MGWO), and is developed for the first time to solve the model. Therefore, a set of test problems in different sizes is provided. Hence, to evaluate the proposed algorithms, assessment metrics including (1) percentage of domination, (2) the number of Pareto solutions, (3) data envelopment analysis, and (4) diversification metrics and the performance of the convergence are considered. Moreover, the Taguchi method is used to tune the algorithm's parameters. Accordingly, to illustrate the efficiency of the model developed, a real case study in Iran is suggested. Finally, the results of this research show MGO offers higher quality and better performance than other proposed algorithms based on assessment metrics, computational time, and convergence. [ABSTRACT FROM AUTHOR]

Over the last few years, countries around the world and the World Health Organisation (WHO) have strived to minimise the impact of the COVID-19 pandemic on communities, production/manufacturing lines supply chains (SCs), and business activities (Kovacs & Sigala, [8]; Parnell et al., [13]; WHO [23]). Previous research, as it is explained in the research of I Zamani, Smyth, Gupta i and I Dennehy i , shows the potential of Artificial Intelligence (AI) and Big Data Analytics (BDA) to significantly improve resilience of supply chains and to facilitate more effective management of supply chain resources. [Extracted from the article]

Fake news, misinformation and disinformation have significantly increased over the past years, and they have a profound effect on societies and supply chains. This paper examines the relationship of information risks with supply chain disruptions and proposes blockchain applications and strategies to mitigate and manage them. We critically review the literature of SCRM and SCRES and find that information flows and risks are relatively attracting less attention. We contribute by suggesting that information integrates other flows, processes and operations, and it is an overarching theme that is essential in every part of the supply chain. Based on related studies we create a theoretical framework that incorporates fake news, misinformation and disinformation. To our knowledge, this is a first attempt to combine types of misleading information and SCRM/SCRES. We find that fake news, misinformation and disinformation can be amplified and cause larger supply chain disruptions, especially when they are exogenous and intentional. Finally, we present both theoretical and practical applications of blockchain technology to supply chain and find support that blockchain can actually advance risk management and resilience of supply chains. Cooperation and information sharing are effective strategies. [ABSTRACT FROM AUTHOR]

The Consistency Index and the Consistency Ratio of the analytic hierarchy process (AHP) were designed to measure the ratio of inconsistent judgments among pairwise comparisons (PCs), which have been the principal indices for the past four decades. Definitions of inconsistency measures for PCs have yet to be established, however, because of the difficulty in quantifying subjectivity in judgments. Therefore, an empirical review that can take such subjective factors into account is essential. In this paper, the Consistency Ratio is thus reviewed using subjective data, and then a new inconsistency index for PCs is proposed based on the review. The review is based on subjective data obtained from two opinion surveys, which focuses on the relationship between the Consistency Ratio and two indicators: (1) the conformity of the results of the AHP and that of the ranking method, and (2) the goodness-of-fit of weight elicited by the AHP to human perception. A new inconsistency index is then proposed based on the mathematical property of a pairwise comparison matrix and further validated based on the conformity and the goodness-of-fit of weight. The results show that the proposed index detects inconsistency among real-world PCs more sensitively than could the Consistency Ratio; the index might suggest the reliability of the output of a pairwise comparison matrix. [ABSTRACT FROM AUTHOR]

Analytical Hierarchy Process (AHP) has evolved since its inception and has contributed mainly to multi-criteria decision-making (MCDM) to solve complex problems. It is a widespread technique that uses group decision-making approach to solve problems in business operations, mathematics, and numerous other scientific fields. While its applications are numerous, a handful of researchers have studied the growth trajectory of AHP. Whilst these seminal works have discussed the evolution of AHP in different contexts and using contemporary techniques, we complement them by presenting and reflecting on the unchartered and pressing need of charting the managerial and theoretical evolution of AHP, over the last decade. We do this through a systematic and thematic review of the extant literature. This study uses the Scopus database to extract papers published between 2012 and 2021 in decision science with an overlap with operations research and information systems. The study follows Tranfield et al. (2003)'s guidelines to understand the past trends of AHP along three key dimensions and offers future directions. The study also showcases key trends using historiography and uses data visualization techniques to understand the use of AHP with other MCDM techniques. [ABSTRACT FROM AUTHOR]

In this paper we propose three models for locating multiple facilities anywhere in the plane. The facilities serve demand points and require raw materials from a list of available sources. Problem characteristic originally proposed in 1909 by Weber for manufacturing systems. Weber argued that optimal locations involve minimizing total transport cost which was comprised of the costs of transporting the raw materials and the delivery cost of the final product when plant production and location costs were invariant across the plane. Both the parameters of raw material sources and demand points affect the best locations for the facilities. In this paper, a special algorithm is designed to heuristically solve these three models. The algorithm exploits the special structure of the models. Problems with up to 2000 demand points and 20 facilities were tested. The results are compared with applying available non-linear solvers in a multi-start approach. The special algorithm performed better in most instances especially for a large number of facilities and a large number of demand points. [ABSTRACT FROM AUTHOR]

Humanitarian organizations work diligently to save lives using scarce resources, competing for donor money, and operating in complex environments. It is no surprise that they need information to effectively execute their task. As there have been tremendous developments in data analytics it is imperative that the domain of humanitarian supply chain management leverage the benefits offered by the advancement of big data. In this study, we have conducted a systematic literature review in the field of big data and humanitarian supply chain. The data was collected using Scopus which is the largest digital database. After careful screening, only 28 journal papers were selected for literature review. These papers have been classified and grouped into various categorizations. Future research directions in this field have been suggested that are based on various organizational theories. [ABSTRACT FROM AUTHOR]

Since early 2010s, the Green Routing Problem (GRP) has dominated the literature of logistics and transportation. The problem itself consists of finding a set of vehicle routes for a set of customers while minimizing the detrimental effects of transportation activities. These negative externalities have been intensively tackled in the last decade. Operations research studies have particularly focused on minimizing the energy consumption and emissions. As a result, the rich literature on GRPs has already reached its peak, and several early literature reviews have been conducted on various aspects of related vehicle routing and scheduling problem variants. The major contribution of this paper is that it represents a comprehensive review of the current reviews on GRP studies. In addition to that, it is an up-to-date review based on a new chronological taxonomy of the literature. The detailed analysis provides a useful framework for understanding the research gaps for the future studies and the potential impacts for the academic community. [ABSTRACT FROM AUTHOR]