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This thesis develops a low-investment marketing strategy that allows low-to-mid level farmers extend their commercialization reach by strategically sending containers of fresh produce items to secondary markets that present temporary arbitrage opportunities. The methodology aims at identifying time windows of opportunity in which the price differential between two markets create

This thesis develops a low-investment marketing strategy that allows low-to-mid level farmers extend their commercialization reach by strategically sending containers of fresh produce items to secondary markets that present temporary arbitrage opportunities. The methodology aims at identifying time windows of opportunity in which the price differential between two markets create an arbitrage opportunity for a transaction; a transaction involves buying a fresh produce item at a base market, and then shipping and selling it at secondary market price. A decision-making tool is developed that gauges the individual arbitrage opportunities and determines the specific price differential (or threshold level) that is most beneficial to the farmer under particular market conditions. For this purpose, two approaches are developed; a pragmatic approach that uses historic price information of the products in order to find the optimal price differential that maximizes earnings, and a theoretical one, which optimizes an expected profit model of the shipments to identify this optimal threshold. This thesis also develops risk management strategies that further reduce profit variability during a particular two-market transaction. In this case, financial engineering concepts are used to determine a shipment configuration strategy that minimizes the overall variability of the profits. For this, a Markowitz model is developed to determine the weight assignation of each component for a particular shipment. Based on the results of the analysis, it is deemed possible to formulate a shipment policy that not only increases the farmer's commercialization reach, but also produces profitable operations. In general, the observed rates of return under a pragmatic and theoretical approach hovered between 0.072 and 0.616 within important two-market structures. Secondly, it is demonstrated that the level of return and risk can be manipulated by varying the strictness of the shipping policy to meet the overall objectives of the decision-maker. Finally, it was found that one can minimize the risk of a particular two-market transaction by strategically grouping the product shipments.
ContributorsFlores, Hector M (Author) / Villalobos, Rene (Thesis advisor) / Runger, George C. (Committee member) / Maltz, Arnold (Committee member) / Arizona State University (Publisher)
Created2011
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Description
One necessary condition for the two-pass risk premium estimator to be consistent and asymptotically normal is that the rank of the beta matrix in a proposed linear asset pricing model is full column. I first investigate the asymptotic properties of the risk premium estimators and the related t-test and

One necessary condition for the two-pass risk premium estimator to be consistent and asymptotically normal is that the rank of the beta matrix in a proposed linear asset pricing model is full column. I first investigate the asymptotic properties of the risk premium estimators and the related t-test and Wald test statistics when the full rank condition fails. I show that the beta risk of useless factors or multiple proxy factors for a true factor are priced more often than they should be at the nominal size in the asset pricing models omitting some true factors. While under the null hypothesis that the risk premiums of the true factors are equal to zero, the beta risk of the true factors are priced less often than the nominal size. The simulation results are consistent with the theoretical findings. Hence, the factor selection in a proposed factor model should not be made solely based on their estimated risk premiums. In response to this problem, I propose an alternative estimation of the underlying factor structure. Specifically, I propose to use the linear combination of factors weighted by the eigenvectors of the inner product of estimated beta matrix. I further propose a new method to estimate the rank of the beta matrix in a factor model. For this method, the idiosyncratic components of asset returns are allowed to be correlated both over different cross-sectional units and over different time periods. The estimator I propose is easy to use because it is computed with the eigenvalues of the inner product of an estimated beta matrix. Simulation results show that the proposed method works well even in small samples. The analysis of US individual stock returns suggests that there are six common risk factors in US individual stock returns among the thirteen factor candidates used. The analysis of portfolio returns reveals that the estimated number of common factors changes depending on how the portfolios are constructed. The number of risk sources found from the analysis of portfolio returns is generally smaller than the number found in individual stock returns.
ContributorsWang, Na (Author) / Ahn, Seung C. (Thesis advisor) / Kallberg, Jarl G. (Committee member) / Liu, Crocker H. (Committee member) / Arizona State University (Publisher)
Created2011
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Description

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develo

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develop Computer Vision technology that would automate the data collection process for time studies. The team worked in an Agile environment to complete over 120 classification sets, create 8 strategy documents, and utilize Root Cause Analysis techniques to audit and validate the performance of the trained Computer Vision data models. In the future, there is an opportunity to continue developing this product and expand the team’s work scope to apply more engineering skills on the data collected to drive factory improvements.

Contributorsde Guzman, Lorenzo (Co-author) / Chmelnik, Nathan (Co-author) / Martz, Emma (Co-author) / Johnson, Katelyn (Co-author) / Ju, Feng (Thesis director) / Courter, Brandon (Committee member) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / School of Politics and Global Studies (Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develo

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develop Computer Vision technology that would automate the data collection process for time studies. The team worked in an Agile environment to complete over 120 classification sets, create 8 strategy documents, and utilize Root Cause Analysis techniques to audit and validate the performance of the trained Computer Vision data models. In the future, there is an opportunity to continue developing this product and expand the team’s work scope to apply more engineering skills on the data collected to drive factory improvements.

ContributorsJohnson, Katelyn Rose (Co-author) / Martz, Emma (Co-author) / Chmelnik, Nathan (Co-author) / de Guzman, Lorenzo (Co-author) / Ju, Feng (Thesis director) / Courter, Brandon (Committee member) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develo

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develop Computer Vision technology that would automate the data collection process for time studies. The team worked in an Agile environment to complete over 120 classification sets, create 8 strategy documents, and utilize Root Cause Analysis techniques to audit and validate the performance of the trained Computer Vision data models. In the future, there is an opportunity to continue developing this product and expand the team’s work scope to apply more engineering skills on the data collected to drive factory improvements.

ContributorsChmelnik, Nathan (Co-author) / de Guzman, Lorenzo (Co-author) / Johnson, Katelyn (Co-author) / Martz, Emma (Co-author) / Ju, Feng (Thesis director) / Courter, Brandon (Committee member) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Description

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develo

Time studies are an effective tool to analyze current production systems and propose improvements. The problem that motivated the project was that conducting time studies and observing the progression of components across the factory floor is a manual process. Four Industrial Engineering students worked with a manufacturing company to develop Computer Vision technology that would automate the data collection process for time studies. The team worked in an Agile environment to complete over 120 classification sets, create 8 strategy documents, and utilize Root Cause Analysis techniques to audit and validate the performance of the trained Computer Vision data models. In the future, there is an opportunity to continue developing this product and expand the team’s work scope to apply more engineering skills on the data collected to drive factory improvements.

ContributorsMartz, Emma Marie (Co-author) / de Guzman, Lorenzo (Co-author) / Johnson, Katelyn (Co-author) / Chmelnik, Nathan (Co-author) / Ju, Feng (Thesis director) / Courter, Brandon (Committee member) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description

Lean philosophy is a set of practices aimed at reducing waste in an industry/enterprise. By eliminating the aspects of a system that do not add value, the system process will be able to work continuously in a flow, and as a result have a shorter cycle time. With a shorter

Lean philosophy is a set of practices aimed at reducing waste in an industry/enterprise. By eliminating the aspects of a system that do not add value, the system process will be able to work continuously in a flow, and as a result have a shorter cycle time. With a shorter cycle time, less resources are diminished, and efforts can be properly distributed in order to achieve maximum efficiency. In relation, Six Sigma is a process that aims to reduce the variability of a system, and in turn reduce the number of defects and improve overall quality of a product/process. For this reason, Lean and Six Sigma go hand-in-hand. Cutting out non-value adding steps in a process will increase efficiency and perfecting the steps still in place will improve quality. Both aspects are important when it comes to the success of a business practice. DNASU Plasmid Repository would be a major benefactor of the Lean Six Sigma process. The process of cloning DNA requires great attention to detail and time in order to avoid defects. For instance, any mistake made in the bacteria growth process, such as contamination, will result in a significant amount of time being wasted. In addition, the purification of DNA steps also necessitates vigilant observation since the procedure is highly susceptible to little mistakes that could have big impacts. The goal of this project will be to integrate Lean Six Sigma methodology into the DNASU laboratory. By applying numerous aspects of Lean Six Sigma, the DNA repository will be able to improve its efficiency and quality of processes and obtain its highest rate of success.

ContributorsMorton, Haley (Author) / McCarville, Daniel (Thesis director) / Eyerly, Ann (Committee member) / Taylor, Clayton (Committee member) / Barrett, The Honors College (Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor)
Created2023-05
ContributorsMorton, Haley (Author) / McCarville, Daniel (Thesis director) / Eyerly, Ann (Committee member) / Taylor, Clayton (Committee member) / Barrett, The Honors College (Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor)
Created2023-05
ContributorsMorton, Haley (Author) / McCarville, Daniel (Thesis director) / Eyerly, Ann (Committee member) / Taylor, Clayton (Committee member) / Barrett, The Honors College (Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor)
Created2023-05
Description

This paper analyzes the impact of the December 2022 winter storm on Southwest Airlines (SWA). The storm caused delays and cancellations for all airlines, but SWA was the only major airline that was unable to recover fully. The disruption was unique due to the higher volume of people traveling during

This paper analyzes the impact of the December 2022 winter storm on Southwest Airlines (SWA). The storm caused delays and cancellations for all airlines, but SWA was the only major airline that was unable to recover fully. The disruption was unique due to the higher volume of people traveling during the holiday season and the lack of good alternative transportation for stranded passengers. The paper explains SWA's point-to-point (PTP) model, which allows them to offer competitive ticket prices, and organizational factors that have helped them hold a significant market share. The paper also discusses previous failures of SWA's IT and aircraft maintenance management systems and the outdated crewing system, which were not addressed until after the storm. The paper uses AnyLogic agent based modeling to investigate why SWA was so affected and why it took them so long to recover.

ContributorsBray, Mariana (Author) / McCarville, Daniel (Thesis director) / Kucukozyigit, Ali (Committee member) / Barrett, The Honors College (Contributor) / Industrial, Systems & Operations Engineering Prgm (Contributor) / School of Mathematical and Statistical Sciences (Contributor)
Created2023-05