Isomorphism's within lumber and cotton futures

Jaime Cantu, Mario Beruvides

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Ludwig Von Bertalanffy in his book, "General System Theory," mentions that a consequence of the existence of general system properties is the appearance of structural similarities or isomorphisms in different fields. For example, the similarities between lumber and cotton systems are many. Traditionally, grain systems economic modeling tools have been used within the cotton system. Factors such as weather, time left to maturity of the contract, acreage allocation, and government policy are factors that have an impact on grain futures but may not have the same impact upon cotton futures. Cotton production is much more dispersed geographically within the U.S. versus grains being centralized to the Midwest region. This would affect the impact of weather and time left to maturity since harvesting times of cotton vary across the U.S. The factors affecting cotton futures may have more in common with lumber than grain. Lumber production is dispersed geographically and warehousing is similar to cotton. This paper is to explore the isomorphisms within the lumber and cotton industry so the tools used for predicting lumber futures may be applied to cotton. This is important to technical management because the improper use of economic modeling is a problem in any industry and finding industries with similar characteristics can lead to new tools, processes and serves to illustrate the systems modeling techniques so prevalent and useful to engineering management. Copyright, American Society for Engineering Management, 2012.

Original languageEnglish
Title of host publicationAnnual International Conference of the American Society for Engineering Management 2012, ASEM 2012 - Agile Management
Subtitle of host publicationEmbracing Change and Uncertainty in Engineering Management
Pages806-809
Number of pages4
StatePublished - 2012
Event33rd Annual International Conference of the American Society for Engineering Management 2012, ASEM 2012 - Agile Management: Embracing Change and Uncertainty in Engineering Management - Virginia Beach, VA, United States
Duration: Oct 17 2012Oct 20 2012

Publication series

NameAnnual International Conference of the American Society for Engineering Management 2012, ASEM 2012 - Agile Management: Embracing Change and Uncertainty in Engineering Management

Conference

Conference33rd Annual International Conference of the American Society for Engineering Management 2012, ASEM 2012 - Agile Management: Embracing Change and Uncertainty in Engineering Management
CountryUnited States
CityVirginia Beach, VA
Period10/17/1210/20/12

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