Abstract

Abstract
This project was developed to improve the cost estimation process of new products within the Product Development Department of a furniture manufacturer. This work involved developing a methodology using Machine Learning (ML) models trained on products' existing data to predict the cost of new innovative ones based on similarities and given data. The ML models used were Linear Regression (LR), Light Gradient-Boosting Machine (LGBM), Random Forest (RF), and Support Vector Machine (SVM). The proposed methodology considers the estimation of the total cost of producing a product, which encompasses both material and operational costs. Throughout this project, several analyses were developed to identify and evaluate different independent variables that could explain the behaviour of these two cost components. The suitability of the different variables was studied by applying several ML models, and a set of functions that return an estimate of the cost as a function of these predictor variables was obtained. The proposed approach, which incorporates ML models into more complex variables to predict, resulted in a 19.29% reduction in estimation error.

Abstract

Abstract
Despite the recognised potential of horizontal collaboration in logistics to reduce inefficiencies, and the increasing academic interest in this topic, in practice many initiatives fail. One of the main reasons for this failure is the poor strategy planning and governance organisation. This paper addresses this gap proposing a comprehensive conceptual framework to support the design and implementation of a common strategy for the stakeholders of such partnerships. The research employs qualitative methods, drawing on interviews and the case analysis of existent initiatives. The proposed framework involves the main phases of the strategic formulation, deciding the stakeholder engagement, strategic formulation, operational implementation, and business model elaboration. It serves as a road map for stakeholders to avoid common mistakes and accelerate the deployment of cooperative partnerships.

Abstract

Abstract