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Optimization of Capital Structure using Operations Research Techniques

This research paper aims to optimize the capital structure of a company using operations research techniques. All companies require financing for day-to-day operations and expansion. The two major sources of financing are equity finance and debt finance. Raising capital by selling shares of a company is known as equity finance whereas bank loans, bonds, securities, and overdrafts are some sources of debt finance. Now the question that arises is what is the appropriate capital structure that the company must follow to achieve maximum profit at the lowest cost. To solve this problem, our paper proposes a simple mathematical model that can be applied to various companies. Using the Simplex method of solving LPP (Big M method) we have developed a model to optimize the capital structure of a company that helps to minimize the overall cost of capital while taking into account various other factors that influence it like the risk of insolvency, tax shield, and expenses incurred to acquire the funds.

Published by: Ronit Kapadia, Purav Gada, Saksham Tandon, Sanjot Pruthi

Author: Ronit Kapadia

Paper ID: V7I5-1339

Paper Status: published

Published: October 12, 2021

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Research Paper

Recommendations for an effective vaccination supply in India using Operations Research tools.

In many ways, COVID-19 affected people from all economic categories. Many endured a company loss and a huge money crunch lost employment and lost loved ones. Amid this chaos, science gave a ray of hope with an aim to ease the impact of the pandemic if not completely eradicate it, in the form of vaccines. The vaccines were publicly made accessible and were also approved by the World Health Organization. However, there was still a problem that people faced, accessibility of the vaccines. Which was also attempted to be solved by the Government by allowing the conduct of local vaccination drives in communities. The paper aims at proposing a transportation problem as an effective Operations Research tool that can be incorporated to optimally allocate the available resources. A locality has been taken into consideration wherein an illustration has been formulated showing different buildings demanding vaccines from different hospitals and the transportation problem enables effective selection of hospitals for buildings. Through our paper, we intend to provide a solution to the vaccination problem prevalent in India. The aim is to use transportation problems to ensure that the supply chain is not disrupted and people are provided vaccines through the most optimal route to ensure that resources are not wasted.

Published by: Svanika Shetty, Swarangee Patel, Udit Batra, Ujjwal Goenka

Author: Svanika Shetty

Paper ID: V7I5-1338

Paper Status: published

Published: October 11, 2021

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Research Paper

Operations Research in Sports Analytics

The primary objective of this paper is to analyze the application of operations research in the field of sports with the help of quantitative and decision-making techniques. The paper arrives at its conclusions after reviewing different research papers in sports such as Cricket and Formula 1. It discovers that there are some typical applications and elements in the field of sports but there are some significantly different applications in various sports like cricket and F1 racing. The main similarity is that both of these sports have used Operations Research to optimize a critical success attribute. So be it the process of switching out tires in a Formula One race or a strategy to minimize travel time while scheduling inter-city matches, Operation research techniques have been beneficial. This secondary study indicates that Operations Research can undoubtedly enhance a player’s performance during a sport and help uncover the perfect output matrix in a professional organization. However, it also elaborates that the full scope of betterment is greatly dependent on the identification of the accurate matrix in the first place, as well as the application of efficient tools and appropriate techniques.

Published by: Moksha Thadeshwar, Pahal Wadhwa, Navkar Lalwani, Mehul Kansal, Prabhav Gupta

Author: Moksha Thadeshwar

Paper ID: V7I5-1335

Paper Status: published

Published: October 11, 2021

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Research Paper

Integer programming for selecting the best playing XI of an IPL team

Since the inauguration of Twenty20 cricket in 2007 with the first Twenty20 world cup, there has been a huge amount of excitement among the supports about this shorter format of the game. It has also increased television viewership to a large extent. The Indian Premier League (IPL) which started in the year 2008, brought about a larger number of fans following and helped the board, franchise owners and the players generate profitable returns. This paper helps us analyze and formulate the optimal starting XI for a cricket team. The team that we have selected is Kolkata Knight Riders which is a franchise playing in the IPL. To formulate the problem, the integer programming model is being used in the paper which helps us in obtaining the best possible playing XI. Performance measures such as batting and bowling ability help us in formulating the problem. An illustration of the method is provided, and the data is taken based on the statistics of the players of Kolkata Knight Riders from the previous season, i.e., the 2020 IPL season.

Published by: Pratham Jain, Pratham Kishinchandani, Raj Shah, Rishi Shah, Sakshi Bothra

Author: Pratham Jain

Paper ID: V7I5-1334

Paper Status: published

Published: October 11, 2021

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Research Paper

Project planning and cost optimization in Construction Industry

Operations Research is an analytical tool to support complex problem-solving and decision-making. The success of OR methods is that it is a systematic approach that provides a framework for constructing conceptual and mathematical models, analyzing alternatives with respect to specified measurable parameters, and finding out the best solutions among all alternatives under a constraint environment. OR contributes to improve project management by applying different techniques such as Critical Path Methods (CPM) and Project Evaluation Review Technique (PERT), reduce logistics cost and quality delivery through network optimization, traffic simulations, decision theory, game bottleneck elimination (game theory), linear programming, transportation problems, etc. In this research paper, we are mainly focused on the practical application of Operations Research in the construction industry to optimize cost for quality and timely delivery with minimum wastages. (Suthar Nisarg Arvindbhai1, 2020).

Published by: Samarth Madan, Sanchi Gupta, Sayyam Nandu, Sanyam Jain, Ronit Sarawgi

Author: Samarth Madan

Paper ID: V7I5-1332

Paper Status: published

Published: October 11, 2021

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Research Paper

Time Allocation in Academia

University professors all over the world are facing increasing challenges to publish more and more high-quality papers, get funds, and improve their citation indices. In many scientific disciplines, like engineering and computer science, research topics keep changing and professors’ research agendas need to change as well. In this paper, we develop a mixed-integer linear program (MILP) to model a university professor's problem of selecting research topics. The problem aims to increase the professor’s number of citations subject to time constraints and publication probability constraints. We also solve the suggested MILP using a max-min ant system. A case study for a professor in an industrial engineering department is also presented.

Published by: Sammy Ibrahim

Author: Sammy Ibrahim

Paper ID: V7I5-1331

Paper Status: published

Published: October 11, 2021

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