[1] ‘The Implementation and USE of Material Requirements Planning System in Northern

Greece: A Case Study’, Δημοσιεύτηκε στο περιοδικό: International Journal of Production

Economics. V45 (1-3), August 1996, p187-193.
The efforts of manufacturing companies to offer more adνanced and quality products, fulfilment of
consumer needs and faster delivery time, require efficient manufacturing control and planning. Tο
ensure that productivity is maintained, stocks are minimized and resources are optimised. Material
Requirement Planning (MRP) is a computerized information system for managing dependent demand
inventory and scheduling stock replenishment orders. Although the use of these systems in industrial
developed countries is extensive, in Greece is in their infancy. The interaction of managerial tasks with
MRP and the resulting effects on the adoption and its infusion was the focus οf our approach. In this
paper we studied the organizational context of a company before and after the implementation of MRP,
the guidelines for its successful implementation, the level of MRP usage in the company, the problems
encountered, and the resulted effects. Some of these findings indicate that the MRP system reduces
inventories, improves deliveries and achieves better planning and control.

[2] ‘A DSS Model That Aligns Business Strategy and Business Structure with Advanced
Information Technology: A Case Study’, Δημοσιεύτηκε στο περιοδικό, Journal of Cases on
Information Technology, Volume 6, 2004.
Advanced information technology must be aligned to business strategy and structure if premium
earnings and competitive advantage has to be created. Strategy is driven by the uncertainty of the
environment where business works. Information technology is a key element of business structure in
order to bypass environmental uncertainty. In this study, the case of a firm is examined that is located in
Northern Greece which needs to make some decision regarding the modernization of the technology
applied in production. An integrated system needs to be implemented in order to manage enterprise
supplies from warehouse and logistics to front office and client service. The ultimate purpose of this
system is to increase flexibility and cut time of response to environmental uncertainties, without
increasing cost and inventory. In order to achieve this target, strategy is analyzed first, in relation to
environmental changes. Various types of flexibility are defined according to the firm's uncertainty and
variability. Finally, the correlation of flexibility and variability determines the type of information
technology that the enterprise needs to adopt in order to increase competitive advantage. The model
proposed, is based on the alignment theory and the strategy execution perspective. A "strategies map"
is constructed to help the decision regarding the strategy and information technology to overcome the
variability problems and increase competitive advantage.

[3] ‘Manufacturing strategies and financial performance—The effect of Advanced Information

Technology: CAD/CAM systems’, Έχει δημοσιευτεί στο International Journal of Management
Science, Omega, 36, 2008.
Nowadays, the business environment is characterized by great uncertainty and variability. In this
environment, information technology (IT) has proved to be an important strategic ingredient for the
creation of competitive advantage. This role of IT has been widely accepted during the past few years.
In the new era of production, strategic priorities rather than a cost contained focus have proved to be
important for competition, namely: quality, dependability, flexibility, customer service, after sale service,
supply chain management, etc. IT proved to be vital for successful competition as it can facilitate the
attainment of these strategic targets.
In this paper, the impact of IT on financial performance for the different types and levels of business
strategy is examined. After the clustering of firms according to their strategic priorities, the effect of IT on
financial performance is estimated. To do this a cross-sectional study was held in the field of Greek
manufacturing firms that apply advanced IT, in order to explore which, how and in what level
manufacturing priorities have been adopted. For that purpose, cluster analysis and VACOR algorithm
were used, to distinguish clusters of firms and estimate the effect of IT on financial performance, for
each type and level of strategic choice. Return on invested capital (ROIC) has been used as a criterion
of performance in order to incorporate the effect of cost, revenues and profits. It was found that the
effect of IT on financial performance was observed to be greater for firms which emphasize the higher
level of flexibility strategy and the middle level of cost strategy. On the contrary, the effect of IT on
performance was observed to be greater for firms which emphasize a lower level of quality and
innovation strategy. Further discussion of these results and conclusions were drawn.
[4] ‘Modeling the Return and Volatility of the Greek Electricity Marginal System Price’ , Έχει
γίνει δεκτό για δημοσίευση στο επιστημονικό περιοδικό Energy Policy, της Elsevier Science.

Traditional cost based optimization models (WASP) for expansion planning do not allow for mark to
market valuation and cannot satisfy arbitrage free requirements. This work will fill this gap by developing
and estimating models for mark to market valuation.
Furthermore the present paper examines the return and volatility of the newly born Greek's electricity
market's marginal system price. A detailed description of the market mechanism and regulation is used
to describe how prices determined in order to proceed on return and volatility modeling. Continuous
time Mean Reverting and Time Varying Mean Reverting stochastic processes have been solved in
discrete time processes and estimated econometrically along with ARMAX and GARCH models.
The Mean Reverting Model:

The Time Varying Mean Reverting Model:

and the ARMAX Model:

Πέτρος Θεοδώρου Σελίδα 2/8 25/10/2018

Finally, the GARCH model:

It was found that GARCH model gave much better estimation and forecasting ability than all the rest.
Strong persistence in mean has been found giving suspicious of market inefficiency and strong
incentives for arbitrage opportunities. Finally the change in the regulatory framework has been
controlled and found to have significant impact.

[5] "Restructuring of SME’s Production: The Manufacturing Strategy of Flexibility and the
Information Technology Applications ", (Αναδιάρθρωση της Παραγωγής στις ΜΜΕ: Η
Στρατηγική της Κατασκευαστική Ευελιξίας, Δημοσιεύτηκε στο Μάνατζμεντ Μικρομεσαίων
Επιχειρήσεων, Πανεπιστημιακές Εκδόσεις Κρήτης, 1/Φεβρ./1996. ISBN: 960-7309-98-7.
After 1975 the Ford’s model of production went under crisis. Due to the qualitative diversification and
saturation in demand, and the variability of the external and internal environment firms decrease their
scale of production and α new model emerged structured to function with only the absolutely necessary
means. This new model whether is α transformation of the old Fordist model or α completely new type
of production is called Lean Production Model. Since then words such as outsourcing, flexibility,
downsizing became very popular even if sometimes sound as buzz words since most of the firms are
trapped in their Old way of doing things". Lean production is α step towards CIM (Computer Integrated
Manufacturing), and flexibility is the basic strategy to accomplish it. The purpose of this paper is to
introduce the basic characteristics of each of the previously mentioned models of production, and to
provide α classification of each type of flexibility as well as the elements of variability that dictate each
flexibility type. Finally α correlation will be made between flexibility, variability and information
technology(lT) as ΙΤ is the basic ingredient of CIM and Lean Production. Α model is constructed to help
the firms decide what kind of ΙΤ types are needed in order to overcome the variability problems and
attain the strategic target of flexibility.

[6] ‘Η Εφαρμογή των Συστημάτων Σχεδιασμού στις Ελληνικές Κλωστοϋφαντουργίες’,

Δημοσιεύτηκε στα πρακτικά του 4ου Διεθνούς Συνεδρίου, Νέες Τεχνολογίες Επιχείρηση και
Οικονομία. 7-10 Απριλίου 1994. University studio Press. ISBN: 960-12-0497-0.
Η υιοθέτηση των νέων τεχνολογιών και ειδικότερα των συστημάτων CAD μπορεί να βοηθήσει τις
ελληνικές επιχειρήσεις στο κλάδο του ενδύματος να αυξήσουν την χρηματοοικονομική
αποτελεσματικότητα και την ανταγωνιστικότητα τους. Στα πλαίσια της εργασία αυτής εξετάζονται τα
βασικά χαρακτηριστικά του νέου παραγωγικού συστήματος στην κλωστοϋφαντουργία της Β. Ελλάδας
που υλοποιεί προηγμένες τεχνολογίες πληροφορικής. Επιπλέον παρουσιάζονται τα αναμενόμενα οφέλη
από την αποδοχή των συστημάτων CAD στην Ελληνική πραγματικότητα, οι βασικοί προμηθευτές των
συστημάτων αυτών για την Β. Ελλάδα και οι ανασταλτικοί παράγοντες που θα πρέπει να ληφθούν
σοβαρά υπόψη για την ακολουθητέα πολιτική Μάρκετινγκ των προμηθευτών αυτών των πληροφορικών
συστημάτων. Παρουσιάζετε ένας ανασχεδιασμένος τρόπος παραγωγικής διεργασίας, βάση του οποίου
αυξάνεται η χρηματοοικονομική αποτελεσματικότητα της παραγωγής.

Πέτρος Θεοδώρου Σελίδα 3/8 25/10/2018

[7] ‘Strategic Information Systems’ Alignment’, Δημοσιεύτηκε στο ‘IT-BASED MANAGEMENT:
Challenges and Solutions.’ by Luiz Antonio, IDEA pub 2003. Διδάσκεται στη Πολυτεχνική
σχολή του Πανεπιστήμιου της Βραζιλίας ( http://www.amazon.com/Based-Management-
Challenges-Solutions/dp/1591400333).
In this paper we introduce the alignment concept, based on a holistic approach, in order to estimate the
strategic and the financial performance of the firm. A model is developed under this concept that takes
into account, the business strategy, business structure and the external environment where the firm
operates as well as other contingent variables important for the financial and strategic performance of
the firm. Certain contingencies of business environment raise the importance of alignment in the
explanation of tactics with strategic implications.
Alignment is an important aspect that has to be examined in all multivariate and normative models. In
this paper, the Information Technology (IT) alignment is examined along with business strategy and
structure, while taking into account environmental contingencies. The concept of alignment raises the
strategic role of information technology through the integration of business and IT strategy. Most of the
firms nowadays cannot capture the strategic role of IT and underestimating its value as persisting only
on financial valuation. In this work, an attempt has been made to fill out this lack of strategic estimation
by the use of the alignment model. A taxonomy of strategic information technology applications is
presented and an integration of IT with business strategy and structure is attempted in order to assist
firms create competitive advantage.
The concept of alignment has been widely examined in strategy and organizations theory literature,
underlying the contingency theories and constituting the groundwork of management of technology and
strategy information systems. Strategic alignment and fit have been among the top concerns of
business executives (Rodgers, 1997; Brancheau, Janz & Wetherbe, 1996) and the core concept in the
normative models, having desirable performance implications. Alignment according to the literature,
means an arrangement of groups or forces in relation to one another. The determination of those forces
is an important aspect of strategic alignment research. The following aggregate variables are commonly
found in many alignment models: environment uncertainty, business structure, information technology
(IT) and business strategy. Among those variables, Miles and Snow (1984) determine strategy as the
basic alignment mechanism and organizational structure and management processes as the internal
arrangements. In the classical school of strategy, environment has the most important role as the
determinant of alignment; structure should follow the alterations of environment while the role of IT is
collateral. Strategy should follow environment and determine the structural form according to variations;
IT should follow strategy as well. In contrast, Mintzberg and Quinn (1996) proposed a bottom-up view
that is free of the "environmental biased" (Theodorou, 1997). The alterations that originated, either in
the internal or in the external environment of the business, create the need to exercise a flexible
strategy. Practical experience suggests that those variables which should be aligned are interrelated in
a multidimensional way. Usually for the sake of simplicity a simple bivariate approach is used among:
environment-strategy, structure-strategy, IT-strategy, and IT-structure. It is worthwhile to mention that
strategy creation and strategic alignment have two dimensions (Horovits, 1984; Reich & Benbasat,
1999), the intellectual (interrelated IT and business plans) and the social dimensions (understanding
and commitment of participants); among these in this paper the first is examined.

[8] ‘Business Strategy, Structure and Information Technology Alignment’, Δημοσιεύτηκε στo
Encyclopedia of Information Science and Technology Volume 5, Idea pub ( http://www.igi-
pub.com/encyclopedia/details.asp?ID=4455).
In this paper a model is constructed to evaluate financial performance of advanced IT systems. This
model is based on the alignment theory in order to bypass the problems which the hard financial criteria
of investment appraisal, impose.
The structure of production during the last decade has been changed radically. The importance of
design, flexibility, quality, and dependability increased. The main motive behind that restructuring seems
to be the qualitative and quantitative diversification of demand (regulatory, technology, and other issues
can be mentioned as well). The diversification of demand forced production to be more flexible in order
to accommodate the environment's variations. Information systems (IS) proved to be a perfect 'partner'
for the enterprise who wants to move along at this pace: to increase competitive advantage and retain
its competitive position in the market. The capabilities of information technology (IT) for increasing

Πέτρος Θεοδώρου Σελίδα 4/8 25/10/2018

competitive advantage forced management to consider IT in the strategic planning process and to
consider IT not as a mere tool of bolts and nuts, but as a strategic partner. The key for the successful IT-
IS adoption is the strategic IT alignment model. According to this, IT should be aligned with
organizations' structure and employees' culture in order to avoid resistance and increase core
competence at the strategic level. But the strategic options offered by advanced IT investments are not
appraised by using the usual hard financial criteria. Instead, Black and Scholes developed a financial
formula to valuate derivative financial products and open the road to valuate options offered by real
investments. Thus, the application of Black and Scholes' formula offers an opportunity to valuate finan-
cially strategic IT investment.
The importance of alignment among IT -business structure and strategy-environment is increased
strategically, but the relationship among all those variables is complicated. Generally, in the classical
strategy school, strategy is determined by environmental uncertainty. Structure (as well as technology)
should follow the needs of strategy, and advanced information technology must be aligned with
business strategy and structure. This alignment is a prerequisite for the creation of competitive
advantage. Information technology is a key element of structure to bypass environmental uncertainty. In
this model, other contingencies like size, age of organization, political forces, regulatory framework, and
so forth must be taken into account as the interaction among all those factors forms the alignment
model.

[9] ‘Structural Design Fit in Garment Production: A Neural Network Approach’. Δημοσιεύτηκε
από την διεθνή Εταιρεία Επιχειρησιακών Ερευνών: Proceedings of the 2 nd European
Conference on Intelligent Management Systems in Operations. Operational Research Society
University of Salford 3-4 July 2001.
Greek manufacturing enterprises, taking advantage of EU financial support, obtained more
sophisticated IT equipment. Advanced CAD/CAM equipment was installed financed from the RETEX
project. This kind of advanced manufacturing technology (AMT) is specialized for the garment industry,
and supplied from three firms in Greece: Lectra, Gerber and Investronica. A Close co-operation with
these suppliers helped in the construction, testing and collection of the questionnaire upon which this
research is based. The installation of AMT equipment enabled the enterprises to exploit benefits and
increase performance. Increased financial benefits were counted in case where appropriate
restructuring occurred. The firms of the sample installed the AMT equipment approximately 4 years ago,
so restructuring effects have been realized. The structure and structural design performance of those
manufacturing firms seemed to be of main interest in relation to information technology applied.
The main concern of this paper was to assist management in the process of decision making and
specifically in determining which of the structural elements of production should be considered and
eventually changed in order to increase manufacturing performance. For this purpose, a model was
developed for the estimation of manufacturing performance based on structural design and
manufacturing structural variables. The model was based on organizational theory and production
system design. A set of manufacturing structural variables was determined based on previous research
work. The effect of each dimension of manufacturing structure on performance was estimated based on
the techniques of neural networks.
The technology of neural networks can be applied to efficiently process large amounts of unstructured
data and to identify - structure by extracting implicit patterns and previously unknown correlation rules
underlying the data. This information can be used effectively for decision-making. In this paper a
backpropagation network is trained to learn the correlation between manufacturing structural variables
and the effect of these parameters on the production performance. The input is properly preprocessed
in order to get as accurate results as possible and at the same time avoid 'over-fitting', namely the
dependence of the rule on the particular examples used to produce them. Uniform noise is added to the
input patterns, which is shown to increase the generalization capabilities of the final network. The
resulting network can be used in two different ways. First, as an estimator of structural design
performance of a manufacturing firm, given the manufacturing structural variables. Subsequently, a
manufacturing firm can make decisions by examining the effect of structural variable changes on the
estimated performance. Second, the structure of the network can be investigated in order to extract how
performance is estimated. This provides insight into firm's structure and can increase our understanding
of the relationship between manufacturing structural variables and performance. Statistical tests are
used to avoid the 'over-fitting' problem.

Πέτρος Θεοδώρου Σελίδα 5/8 25/10/2018

Finally, conclusions were drawn about which structural elements a manufacturing firm must change in
order to increase financial performance.

[10] ‘Εφαρμογή του Αλγορίθμου VACOR στην Ταξινόμηση Στρατηγικών Ομάδων και η
Αλληλεπίδραση των Στρατηγικών Στόχων με τα Συστήματα ERP’, έχει γίνει δεκτή για
δημοσίευση από την ΕΕΕΕ.
Πολλές επιχειρήσεις στην Ελλάδα επένδυσαν σε προηγμένα συστήματα πληροφορικής αυτόματου
σχεδιασμού και παραγωγής (κοπής κόλλησης κλπ) καθώς και σε συστήματα στήριξης αποφάσεων
(CAD/CAM/DSS). Σήμερα αυτές οι εφαρμογές ολοκληρώθηκαν σε ενιαίες 'πλατφόρμες' οδηγώντας στα
συστήματα ERP (enterprise resource planning) ή παλαιότερα MRPll (management resource planning). Η
ολοκλήρωση αυτή, ήταν αποτέλεσμα των αναγκών της αγοράς για την παροχή αρθρωτής υπηρεσίας
(modular) προκειμένου να επιτευχθεί μείωση στο κόστος αγοράς των συστημάτων ενώ παράλληλα
παρέχουν τη δυνατότητα επέκτασης ανάλογα με τις εκάστοτε ανάγκες. Η έρευνα που έχει γίνει δείχνει ότι
το βασικό πλεονέκτημα αυτών των συστημάτων προκύπτει από την αλληλεπίδραση τους με τους
στρατηγικού στόχους της επιχείρησης και μέσω αυτής η δημιουργία ανταγωνιστικού πλεονεκτήματος. Το
θέμα της αλληλεπίδρασης των πληροφοριακών συστημάτων με την στρατηγική των επιχειρήσεων
αποτελεί ένα από τα βασικά θέματα έρευνας της στρατηγικής των πληροφοριακών συστημάτων
(Theodorou 2001). Τα συστήματα αυτά διευκολύνουν τις επιχειρήσεις στην υλοποίηση συγκεκριμένων
στρατηγικών στόχων όπως η ποιότητα, η ευελιξία, η καινοτομία κλπ. Στην εργασία αυτή θα ερευνήσουμε
για ποιες στρατηγικές επιλογές η αλληλεπίδραση αυτή αυξάνει το ανταγωνιστικό πλεονέκτημα.
Συγκεκριμένα η έρευνα αυτή αποτελεί μια στατική συγκριτική ανάλυση με διαστρωματικά στοιχεία
επιχειρήσεων που υλοποιούν εφαρμογές πληροφορικής ERP (δηλαδή, που εφαρμογές που
ολοκληρώνουν CAD, CAM και DSS). Στο ένα μέρος της έρευνας έγινε μια προσπάθεια διάκρισης των
επιχειρήσεων σε στρατηγικές ομάδες με την χρήση της προς τα άνω ιεραρχικής ταξινόμησης και ποιο
συγκεκριμένα του αλγορίθμου CAH. Σε ένα δεύτερο στάδιο για κάθε στρατηγική ομάδα μελετήθηκε η
επίδραση της στρατηγικής στην χρηματοοικονομική αποτελεσματικότητα προκειμένου να διακρίνουμε το
είδος της στρατηγικής επιλογής που καλύτερα αλληλεπιδρά με τις συγκεκριμένες εφαρμογές της
πληροφορικής.

[11] ‘Η Στρατηγική των Επιχειρήσεων Ηλεκτρισμού στην Νέα Απελευθερωμένη Αγορά’, έχει
γίνει δεκτή για δημοσίευση από την ΕΕΕΕ.
Μετά το 1980 διεθνώς, η σχέση και η έννοια του κράτους και της δημόσιας επιχείρησης αλλάζει μορφή.
Ακόμα και τα ποιο 'νευραλγικά' κρατικά μονοπώλια, αυτά των τηλεπικοινωνιών και του ηλεκτρισμού,
αποκρατικοποιούνται με πρωτοβουλία του ιδίου του κράτους. Μέσα σε αυτό το κλίμα είναι ιδιαίτερα
ενδιαφέρουσα η μελέτη των στρατηγικών που θα αναπτυχθούν μεταξύ των επιχειρήσεων που θα
συμμετέχουν στις νέες απελευθερωμένες αγορές. Συγκεκριμένα εδώ θα ασχοληθούμε με το ζήτημα της
στρατηγικής των επιχειρήσεων στην απελευθερωμένη αγορά ηλεκτρισμού της Ελλάδας. Η οδηγία 96/92
της Ε.Ε. ενσωματώθηκε στην Ελληνική νομοθεσία το Δεκέμβριο του 1999 στον Νο2773 θέτοντας ως
ορόσημο της απελευθέρωσης, την 19 Φεβρουαρίου 2001. Η νέα μορφή της αγοράς φαίνεται
περισσότερο περίπλοκη καθώς ο λογιστικός διαχωρισμός (unbundling), η διάσπαση της μονοπωλιακής
επιχείρησης σε βασικές επιχειρησιακές μονάδες (downsizing) και η εμφάνιση νέων ρυθμιστικών
οργάνων, αυξάνουν τους παράγοντες που επηρεάζουν την λειτουργία της νέας αγοράς καθώς και την
πολυπλοκότητα της. Επίσης, βασικό τμήμα της λειτουργίας της νέας αγοράς αποτελεί το χονδρεμπόριο
του ηλεκτρισμού με δημοπράτηση τιμών κυρίως από τη πλευράς της προσφοράς (bidding). Στο σύστημα
αυτό για την διασπορά του κινδύνου προβλέπεται η δημιουργία προθεσμιακών αγορών παραγώγων
χρηματοοικονομικών προϊόντων. Στην εργασία αυτή αρχικά θα προσδιορίσουμε την νέα
'επαναρυθμιζόμενη' αγορά ηλεκτρισμού, τον τρόπο λειτουργίας της, τους παράγοντες που συμμετέχουν
και το πως αλληλεπιδρούν. Σε επόμενο στάδιο, θα προσδιορίσουμε τον τρόπο με τον οποίο θα
λειτουργήσει το χονδρεμπόριο και το ωριαίο σύστημα προσφορών. Ακολούθως, θα στοιχειοθετήσουμε τα
μεγέθη της Ελληνικής αγοράς στο παρόν και στο μέλλον και μέσα από αυτά θα καταλήξουμε στις
στρατηγικές που αναδύονται. Βασικά θα προσδιορίσουμε τις στρατηγικές ανταγωνισμού από τις
μελλοντικές τάσεις της αγοράς καθώς και πως αυτές μπορούν να υλοποιηθούν.

[12] ‘Ένα Μοντέλο Στρατηγικών Προσφορών στο Χονδρεμπόριο Ηλεκτρισμού. Λειτουργία και
Παράγοντες της Απελευθερωμένης Αγοράς’, Έγινε Δεκτό για δημοσίευση στην Επιθεώρηση

Πέτρος Θεοδώρου Σελίδα 6/8 25/10/2018

Οικονομικών Επιστημών.
Το χονδρεμπόριο του ηλεκτρισμού βασίζεται στη δημοπράτηση των τιμών στην βάση του οριακό κόστους
της κάθε επιχείρησης, με μακροχρόνιο στόχο την ελαχιστοποίηση του μέσου μεταβλητού κόστους. Στην
εργασία αυτή θα προσδιορίσουμε τον τρόπο λειτουργίας και τους παράγοντες που συμμετέχουν στην
Ελληνικής αγορά χονδρεμπορίου ηλεκτρικής ενέργειας, καθώς και τα θεμελιώδη μεγέθη τα οποία τείνουν
να την διαμορφώσουν. Στην εργασία αυτή αναπτύσσεται μια μεθοδολογία στοχαστικής βελτιστοποίησης
των στρατηγικών προσφορών στο χονδρεμπόριο ηλεκτρισμού που πρόκειται να λειτουργήσει στην
Ελλάδα με βάση την υπόθεση της γραμμικότητας της ζήτησης και της προσφοράς. Η αγορά ηλεκτρισμού
στην Ε.Ε απελευθερώνεται με την οδηγία 96/92, η οποία ενσωματώθηκε στην Ελληνική νομοθεσία το
Δεκέμβριo του 1999 (Ν02773) θέτοντας ως ορόσημο την 19 Φεβρουαρίου 2001. Η νέα αγορά
'παρουσιάζει υψηλότερο βαθμό πολυπλοκότητας από τον προηγούμενο μονοπωλιακό της χαρακτήρα
καθώς κρίνεται αναγκαία η εφαρμογή μιας σειράς κανονιστικών μηχανισμών που εξασφαλίζουν την
ομαλή λειτουργία της. Το σημαντικότερο όμως τμήμα του ανταγωνισμού της ηλεκτρικής ενέργειας στο
πρώτο στάδιο της απελευθέρωσης βρίσκεται αφενός στη προμήθεια και αφετέρου στο χονδρεμπόριο
ηλεκτρισμού και είναι αυτό το τμήμα της αγοράς που μελετάται στην εργασία αυτή.

[13] ‘Computational Intelligence in Financial Functions of Industrial Firms’, Έχει δημοσιευτεί

στο Computational Intelligence in Manufacturing and Production Management, Edited by
Purnendu Mandal and Dipak Laha, published by Information Science Reference pub
( http://bookshop.blackwell.co.uk/jsp/id/Handbook_of_Computational_Intelligence_in
_Manufacturing_and_Prod/9781599045825).
Information technology has been proved to be a strategic weapon in the business armory for the
creation and sustention of competitive advantage, especially, when it is aligned with the needs of the
internal and external environment. Solutions are provided from the operational level up to strategic
planning and are capable to support every choice in the strategy portfolio, from cost to quality and
flexibility. IT systems in the manufacturing and operational level were analyzed extensively in literature:
ERP systems, CAD/CAM, and so forth. According to Wong, Bo, Bodnovich, and Selvi (1997), 53.5% of
the reviewed literature in artificial intelligence refers to applications in production and operations
management.
Nevertheless, the second most important area for advanced IT applications is that of finance (25.4%).
This research will be focused on the common set of the two previously mentioned areas: production
management and the necessary financial tools. Production and operation management requires specific
financial tools in order to accomplish the functions of production planning, costing, investment appraisal,
and so forth. Computational intelligence in those financial functions is mostly needed for the production
operation department and for the production operation strategy. Specifically, the weight will be put on
information technology automation of financial functions adopted by production departments:
forecasting production needs, production planning and control, profit volume analysis, cost analysis,
investment appraisal analysis, and so forth. An attempt has been made to classify the various
quantitative and qualitative techniques in relation to various financial aspects. Specifically, advances of
neural networks, expert systems, advanced statistical analysis and operational research methods, and
various hybrid techniques has been presented in relation to financial models applied in production.
Financial applications have been analyzed according to their modules and their outputs in a strategic
alignment concept. Finally, a strategic alignment model has been derived for the adoption of financial
applications in businesses.

[14] ‘Strategic Information Technology and Portfolio Management’, Edited by Albert Tan and
Petros Theodorou, Συλλογικός Τόμος από μονογραφίες που βρίσκετε υπό έκδοση από την
IGI-Publishing.
The strategic perspective of Information Systems and the importance of planning have been recognized
since Anthony’s 1965 work on the hierarchical application portfolio model. The matrix approach
developed by BCG’s product portfolio was extended in IT portfolio management and similar approaches
were developed by McFarlan’s Strategic Grid, Sullivan, Munro & Huff, Ives & Learmonth, Galliers and
others.
Portfolio management aims at the selection of IT applications which increase value while minimizing the
relevant risks. This approach must be holistic and take into account the overall strategy of the firm.
Strategic alignment is an important ingredient for a successful portfolio. Strategies and financial aspects
regarding return of invested capital on IT will be examined. Special interest has been given in financial
information systems. While much has been written about strategic information systems planning (SISP),
the integration of strategic planning with portfolio management has not been examined. This combined

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approach to planning could be more effective for both researchers and practitioners to optimize their
resources and investments. This collection of papers aims to define the strategic options and the
implications of the evolving IT portfolio in order to provide a tool for IS/IT strategic planning. Theoretical
discussion along with practical models and case studies have been developed.

The Overall Objective

A need emerged for an edited collection of articles in the fields of information technology strategy,
information technology architecture, financial information systems, portfolio management, etc. The aim
of this book is to bridge the knowledge between information technology planning (ITP), enterprise
architecture and IT portfolio management taking into account the financial impact. The objectives of the
book are to provide techniques and tools appropriate for building application portfolio and develop
strategies which increase financial performance. Case studies and relevant applications for each
industry have been included. Papers determine key steps in creating, optimizing and managing IT
investment portfolio. Techniques and tools have been developed to categorize, prioritize, evaluate IT
applications portfolio and align this portfolio with business strategy in order to increase financial
performance. Determine portfolio’s returns, risks and strategies in order to create, assess and plan the
investments that increase financial performance taking into account strategic alignment. Provided a
logical linkage between ITP, enterprise architecture, portfolio management and financial performance.
Examined how ITP models have evolved since their inception. Evaluate how ITP has been used in
private and public sectors, industry as well as small and medium companies. Discussed some of the
issues faced during ITP and how they can be overcome.

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