Market response models and marketing practice: Research Articles
Applied Stochastic Models in Business and Industry - Bridging the Gap between Academic Research in Marketing and Practitioners' Concerns
On Bayesian forecasting of procurement delays: a case study: Research Articles
Applied Stochastic Models in Business and Industry - Bayesian Models in Business and Industry
Single-machine group scheduling with a time-dependent learning effect
Computers and Operations Research
A stage characteristic-Preserving product life cycle modeling
Mathematical and Computer Modelling: An International Journal
A study on the life of an innovative product using a Bayesian approach
Computers and Industrial Engineering
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The objective of this paper is to investigate the degree of the customer involvement in final assembly (CIFA) in establishing a do-it-yourself (DIY) product design in order to achieve cost minimization of the incumbent firm in a competitive environment. Such a decision-making problem is addressed with consideration of the competitors and the learning curve effect within the three hypothetical stages of a product life cycle (PLC). Accordingly, a Bayesian decision model that incorporates expert opinions with available information is proposed to determine the optimal CIFA ratio for a DIY product. Finally, a numerical example is used to illustrate the effectiveness of the proposed model, and sensitivity analyses are also performed in light of the numerical example.