BALTIMORE, MD, November 12, 2024 – New research in the INFORMS journal Manufacturing & Service Operations Management is guiding the development of more inclusive and efficient electricity markets. The work demonstrates how aggregating small-scale, distributed energy resources (DERs) like solar panels can effectively balance the power of large utility companies.
During the holiday season, a late delivery can sometimes feel like the end of the world. You’ve been there: you order a highly anticipated gadget, new clothes, or a last-minute gift, only to find out that your delivery is delayed. While many blame shipping companies or delivery drivers, the true culprit often lies deeper in the supply chain — at the heart of it all: forecasting.
Catastrophic weather events, wars in Ukraine and the Middle East, trade conflicts, global pandemics—the forces disrupting supply chains are multiplying at a rate few could have anticipated.
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Instead of simply grumbling about neighbors not maintaining their lawns properly, residents of Ypsilanti Township's West Willow neighborhood examined barriers that some homeowners face and decided to create a solution: a tool lending library.
To start with a big picture, if you look at industries like the restaurant industry, it’s huge. The statistics tell us that, at some point, half of the population of the United States has worked in a restaurant. Typically, these are part-time jobs. They don’t pay well. They don’t even pay minimum wage. The basic wage is very, very low, and you rely on tips. And restaurants, as a rule, don’t make a lot of money. We are talking about a couple of percentage points in profitability.
Chatbots can match the performance of proficient human salespeople—or outperform inexperienced ones fourfold—but only when customers are unaware they are conversing with artificial intelligence.
Could you handle scrutiny of your driving habits in return for a price break on your insurance? That’s the bargain participants in usage-based (or telematics-based) insurance programs are making. In return for driving well and logging low miles, you could save as much as 50 percent off premiums.
AI is proving itself superior to human intelligence in an expanding number of fields. That is, except when people know AI is being used.
OR/MS Today is the INFORMS member magazine that shares the latest research and best practices in operations research, analytics and the management sciences.
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Analytics magazine showcases articles and research reports based on big data, AI, machine learning, data analytics and other new-age technologies.
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