Managerial Finance: Volume 4 Issue 3

Forecasting and Control of Revenue

Paul F. Bestwick

An alternative forecasting system to classical time series analysis and exponential smoothing is presented. It is especially useful for aggregate planning exercises and is based…

The Role of Inventory in Practice

K. Howard

Most managers are aware that inventory cannot exist without costs being incurred. In the absence of an accurate indication of what these costs are the decision on the level of…

Decision Networks—A Simplified Application to North Sea Oil

P.F. Bestwick, J. Sadjadi

Decision networks are a network presentation of dynamic and Markov programming problems. The technique is particularly useful in identifying preferred decisions, from a range of…

Measures of Risk and Risk Aversion

Judith Atherton

Whilst ideally decisions should be made on a basis of rational thinking and logic, many in practice are made for irrational, unexplainable reasons, particularly where information…

Congestion Analysis in Widely Dispersed Queues

E.F. Wolstenholme

The normal concept of a queueing situation is that of a static service point which is visited by customers who wait for service in a formal line or queue. This paper outlines the…

The Use of Invoice Sampling to Estimate Profit Margin

Judith Atherton

When information is needed about the characteristics of a “population”, statistical sampling can save time, money and effort. Although some loss of accuracy is inevitable when…

A Simulation Problem in The Textile Industry

Peter Pearson

Quantitative problems frequently arise in production systems which cannot be solved by the standard Operational Research techniques. In such cases, a simple mathematical model can…

Systems, Control and Output Measurement

D.B. Gilding

Management scientists have devoted much effort to the development of corporate models and in general the extent of the use of such models has been disappointing, largely because…