Portfolio Of Resources Research Articles

Interconnectivity and customer satisfaction

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Firms operating in a business-to-business-to-customer (B2B2C) context can utilize relevant Internet-of-Things (IoT) capabilities to facilitate connectivity between different stakeholders and to build a portfolio of complementary unique resources. Through emphasis on capabilities with most capacity to enhance customer satisfaction, such companies can hope for a positive impact on this performance metric. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Multi-Stage Resource Leveling Problem with Self-operation and Outsourcing Cooperation in Sharing Logistics

Self-operation and outsourcing cooperation have emerged as the prevailing operating mode for logistics companies in the realm of sharing logistics. This mode facilitates the rational and effective coordination of multiple resources for task assignment. However, the competition and cooperation relationship between self-operation and outsourcing remain largely unexplored, leaving logistics companies grappling with the trade-off between cost-effectiveness and risk. To address this gap, we propose a multi-stage resource leveling model that accounts for the fuzzy outsourcing resources, the efficacy of intra-stage resources, and the stability of inter-stage resources. We employ an improved gravitational search algorithm to solve this model efficiently. Inspired by Markowitz's portfolio theory, we propose a resource portfolio strategy under the self-operation and outsourcing cooperation mode based on the mean-variance model to better weigh up the “cost-effectiveness” and “risk” exhibited by logistics resources. The strategy uses expected returns and variance to evaluate the benefits and risks, thereby categorizing allocation schemes according to risk levels. Finally, through experiment analysis, we discuss the optimal scale of self-operation and outsourcing resources for logistics subtasks at different risk levels. This analysis equips logistics companies with the insights needed to make informed decisions aligned with their risk preferences and overall benefits, offering crucial managerial implications for business and strategic decisions.

3D Geological Modeling and Metallogenic Prediction of Kamust Sandstone-Type Uranium Deposit in the Eastern Junggar Basin, NW China

Sandstone-type uranium deposits hold significant value and promise within China’s uranium resource portfolio, with the majority of these deposits found at the junctions of basins and mountains within Mesozoic and Cenozoic basins. The Kamust uranium mining area, located in the eastern part of the Junggar Basin, represents a significant recent discovery. Prior research on this deposit has been confined to two-dimensional analyses, which pose limitations for a comprehensive understanding of the deposit’s three-dimensional characteristics. To address the issue of uranium resource reserve expansion, this study employs 3D geological modeling and visualization techniques, guided by uranium deposit models and mineral prediction methods. First, a 3D model database of the Kamust uranium deposit was constructed, comprising drill holes, uranium ore bodies, ore-controlling structures, interlayer oxidation zones, and provenance areas. This model enables a transparent and visual representation of the spatial distribution of favorable mineralization horizons, structures, stratigraphy, and other predictive elements in the mining area. Second, based on the three-dimensional geological model, a mineral prediction model was established by summarizing the regional mineralization mechanisms, ore-controlling factors, and exploration indicators. Combined with big-data technology, this approach facilitated the quantitative analysis and extraction of ore-controlling factors, providing data support for the three-dimensional quantitative prediction of deep mineralization in the Kamust uranium deposit. Finally, using three-dimensional weights of evidence and three-dimensional information-quantity methods, comprehensive information analysis and quantitative prediction of deep mineralization were conducted. One prospective area was quantitatively delineated, located east of the Kalasay monocline, which has been well-validated in geological understanding. The research indicates that the area east of the Kalasay monocline in the Kamust mining district has significant exploration potential.

Support for Advanced Nuclear Power Growing in the United States

Global clean energy and decarbonization goals are forcing governments around the world to take a hard look at their energy resource portfolios and future plans for meeting increasing electricity demand. While the last several years have seen a significant uptick in the deployment of solar, both terrestrial and offshore wind, and battery storage here in the United States, nuclear energy is once again being considered a critical energy generation source. Nuclear power, and in particular small modular nuclear reactors, are being considered as carbon‐free power generation sources to strategically meet new loads.

A two-stage distributed stochastic planning method for source-grid-load-storage flexibility resources considering flexible ramp capacity

With rapidly increasing levels of renewable energy penetration, flexibility resources play an ever more critical role in the future power system. This paper describes a two-stage stochastic mixed integer second order cone (MISOC) method for flexibility resource planning (VFRP) considering source-grid-load-storage interactions. Considering renewable energy penetration levels and flexibility resource characteristics, this study quantifies the extent to which the share of renewable energy generation affects cost performance, and assesses the priority and potential of investing in flexibility resources. Moreover, the multi-type flexibility resource portfolio allocation method and energy storage only approach are compared in terms of socio-economic benefits. A multi-cut Benders-based approach is used for decomposing large-scale stochastic expansion planning problems to reduce the computational burden. Numerical simulation tests on the modified energy test systems I39G20 and F213G20 verified the correctness and effectiveness of the proposed flexible resource planning models and solution algorithms. The simulation results show that retrofit of coal-fired units for better flexibility has a higher investment return. Still, energy storage presents a tremendous investment prospect and potential. Finally, the multi-type flexibility resource portfolio allocation method is more cost-effective than an energy storage only approach.

Configuring Technology Resources and Organizational Practices for Innovation Success

Overview: As novel technologies and organizational practices become available, innovation managers must identify and invest in those best suiting their needs. To ensure their firm’s innovativeness, innovation managers must integrate these new technologies and organizational practices into their resource portfolio and deploy them in combination with existing resources. In this article, we demonstrate the orchestration of technologies and practices that set the most innovative firms apart from less innovative. Using the fsQCA method, we found that high-performing firms configure their technological resources and organizational capabilities in bundles, whereas their less innovative counterparts are preoccupied with investing in technologies alone. Resource orchestration management is therefore a novel innovation management capability, which may accelerate a firm’s innovative capabilities. We offer practitioners managerial implications that emphasize the development of innovation managers’ resource orchestration capabilities.

Coal in the 21st century: Industry transformation and transition justice in the phaseout of coal-as-fuel and the phase-in of coal as multi-asset resource platforms

The coal industry is enjoying long-term investments in new coal-fired power generation even as coal mining and production have been declining. Recent conflict in Europe has disrupted energy supplies and reinvigorated coal use. The duration of the retrenchment to coal may be short lived, but the end point of “short lived” remains uncertain. The present state of the coal industry and the investment community that underpins its growth obviates any meaningful acceleration in coal's phaseout as a core fuel resource. However, coal can be recast as a catalyst for achieving clean energy and economy futures. This can be done by seeing coal hydrocarbon deposits and byproducts of coal processing as long-term multi-asset resource platforms (MARPS), which integrate multiple new revenue streams on coal lands other than just mining coal as a fuel. New value comes from repurposing and leveraging mining lands, harvesting minor and trace elements from coal, and creating new revenue from harvesting hydrogen and carbon materials from coal bed methane, raw coal, coal tailings, and fly ash residues. We make the case that Coal Mining Enterprise (CME) value can be enhanced by ending the use of coal-as-fuel and creating new value streams serving existing and emerging markets by fully assessing, evaluating, and utilizing the portfolio of natural resources that are collocated within a typical coalfield. Coal sector investors tend not to see undervaluation in coal assets because CMEs focus predominantly on mining, processing, and shipping coal-as-fuel for electricity production and industrial processes. Formulating and asking the correct questions about how much value is being left on the table may bring innovation into a new frontier of coal as multi-asset resource platforms. Co-benefits of the approach include job creation across many viable emerging markets where “refining” coal is a competitive source of factor inputs. Moreover, it aids governments in aggressive support of coal industry transformations, through which lasting coal transition justice can be achieved. Ironically, despite all the technological and market uncertainties, coal in the 21st century can be, and should be, a critical success factor in achieving clean energy and economy futures.

Quantifying the Value of Technology and Policy Innovation in Water Resource Portfolios

AbstractRecent water infrastructure planning models demonstrate that explicitly accounting for hydrological changes in long‐term water planning reduces costs and increases system robustness. However, current models do not consider the effects of other changes occurring in the system over long time horizons, namely technology and policy innovation. By leveraging state‐of‐the‐art dynamic control techniques, we propose a suite of tools that explicitly relate hydrologic change, technology innovation, and policy interventions to system‐level water costs. We design robust and cost‐optimal strategies for water supply expansion under hydrological variability and hundreds of plausible innovation states, for example, treatment cost and diversification improvements, deployment times, and demand reduction campaigns. Our approach circumvents the need to pre‐assign probabilities to innovation scenarios and, instead, directly calculates the effects of technology, policy, and hydrology variations on system cost and planning strategies to identify avenues of impactful innovation. These tools can support technology development hubs, urban, state, and federal water planners in anticipating cost implications of technology and policy innovation at the local level, and prioritizing high‐impact innovation goals based on quantitative targets. Results for the case study of Santa Barbara, California identify high‐value innovation attributes for the city as well as combinations of innovation attributes across technologies and policies, and quantify their potential utility cost reductions.

Роль ресурсного подхода к стратегическому управлению организацией в условиях межорганизационного взаимодействия

With the development of integration approaches in business, including international, there is a need for a reasonable choice of approach to strategic management of an organization in the context of inter-organizational interaction, analysis of their role in ensuring and increasing the competitiveness of its participants. The relevance of the study of the role and significance of the resource approach is determined by the fact that, firstly, the current conditions for the intensification of crisis phenomena in the economy generate the need to develop partnerships between economic entities, as well as the use of various models of their business cooperation; secondly, the limited availability of resources necessary for normal functioning activates and directs the search for opportunities to obtain complementary resources and achieve balance of business interests of several organizations in the distribution of rights and responsibilities of joint activities. The complexity of applying a resource approach to the strategic management of an organization in the context of using the potential of inter-firm partnership is due not only to the possibility of obtaining unique complementary resources, but also to the need to apply (form, transform, develop) relevant professional competencies that represent a key organizational value. The role and features of the resource approach to strategic management of the organization in the conditions of interorganizational interaction are determined. To determine its advantages and disadvantages, the reasons for choosing and rejecting it, the factors and principles of successful application allowed general scientific (methods of theoretical cognition and empirical research, general logical research techniques) and special methods, as well as methods of systemic, dialectical and dialogical approaches. The study of the strategic potential of the organization – the totality of the available resources and capabilities of the organization (as sources of competitive advantages) – for the development and implementation of the strategy through the prism of inter-organizational partnership with the help of the methods outlined above solves one of the central problems of management, contributes to the substantiation of the significance of the analysis of the role of the resource approach and the development of the resource portfolio.

Adapting the USDA Food Security Survey Module for use with college students: Can we improve model fit?

AbstractThe USDA Food Security Survey Module (FSSM) is the gold standard for measuring food security; however, research suggests that college students may respond to FSSM items differently than the general population. Students may have a varied portfolio of food and financial resources (thus, complicating interpretations of “money”) to acquire food. We conducted a randomized control trial to test whether a preamble to address this issue improves model fit. Results indicated the preamble did not improve model fit, and students' responses deviated from expected patterns. More research could help understand these deviations and their implications for measuring FI on college campuses.

Digital technologies and corporate green innovation: opening the “black box” of resource orchestration mechanisms

PurposeDriven by the dual-carbon target and the widespread digital transformation, leveraging digital technology (DT) to facilitate sustainable, green and high-quality development in heavy-polluting industries has emerged as a pivotal and timely research focus. However, existing studies diverge in their perspectives on whether DT’s impact on green innovation is synergistic or leads to a crowding-out effect. In pursuit of optimizing the synergy between DT and green innovation, this paper aims to investigate the mechanisms that can be harnessed to render DT a more constructive force in advancing green innovation.Design/methodology/approachDrawing from the theoretical framework of resource orchestration, the authors offer a comprehensive elucidation of how DT intricately influences the green innovation efficiency of enterprises. Given the intricate interplay within the synergistic relationship between DT and green innovation, the authors use the fuzzy-set qualitative comparative analysis method to explore diverse configurations of antecedent conditions leading to optimal solutions. This approach transcends conventional linear thinking to provide a more nuanced understanding of the complex dynamics involved.FindingsThe findings reveal that antecedent configurations fostering high green innovation efficiency actually differ across various stages. First, there are three distinct configuration patterns that can enhance the green technology research and development (R&D) efficiency of enterprises, namely, digitally driven resource integration (RI), digitally driven resource synergy (RSy) and high resource orchestration capability. Then, the authors also identify three configuration patterns that can bolster the high green achievement transfer efficiency of enterprises, including a digitally optimized resource portfolio, digitally driven RSy and efficient RI. The findings not only contribute to advancing the resource orchestration theory in the digital ecosystem but also provide empirical evidence and practical insights to support the sustainable development of green innovation.Practical implicationsThe findings can offer valuable insights for enterprise managers, providing decision-making guidance on effectively harnessing the innovation-driven value of internal and external resources through resource restructuring, bundling and leveraging, whether with or without the support of DT.Social implicationsThe research findings contribute to heavy-polluting enterprises addressing the paradoxical tensions between digital transformation and resource constraints under environmental regulatory pressures. It aims to facilitate the simultaneous achievement of environmental and commercial success by enhancing their green innovation capabilities, ultimately leading to sustainability across profit and the environment.Originality/valueCompared with previous literature, this research introduces a distinctive theoretical perspective, the resource orchestration view, to shed light on the paradoxical relationship on resource-occupancy between DT application and green innovation. It unveils the “black box” of how digitalization impacts green innovation efficiency from a more dynamic resource-based perspective. While most studies regard green innovation activities as a whole, this study delves into the impact of digitalization on green innovation within the distinct realms of green technology R&D and green achievement transfer, taking into account a two-stage value chain perspective. Finally, in contrast to previous literature that predominantly analyzes influence mechanisms through linear impact, the authors use configuration analysis to intricately unravel the complex influences arising from various combinatorial relationships of digitalization and resource orchestration behaviors on green innovation efficiency.

United in Isolation

Since the beginning of the millennium, (online community-orientated) social media and platforms have been steadily evolving. The establishment of Facebook in 2004 followed by Instagram in 2010 has provided two of the most valuable conduits for digital communities to date. As consumer popularity changed, memberships migrated from one platform to the next – Flickr to Twitter, Twitter to Facebook and so on. Today, audiences are presented with a broad portfolio of online networking resources. Self-broadcasting, sharing of information, and commentary and communication are commonplace. All are free at the point of use, as long as users are comfortable with the concept of digital ‘sharing’. A generation of millennials embraces open source and share-ware, financing contemporary initiatives through crowdfunding – together wherever, whatever.

The role of managerial activities in achieving Information technology ambidexterity and new product development performance in small and medium-sized enterprises

ABSTRACTGiven their limited portfolio of resources, small and medium-sized enterprises (SMEs) have to manage information technology (IT) exploitation and exploration at the same time to support a major shift in their product focus while maintaining their current array of products. We theorise that SMEs rely on managerial activities to enable IT ambidexterity to enhance the performance of their new product development (NPD). To this end, we hypothesise and test the relationships between managerial activities, IT ambidexterity, and NPD performance. Using multiple respondent data from 292 high-tech SMEs, we find that managerial activities enable IT ambidexterity, and this relationship is moderated by structural configurations. Considering the NPD management challenges ushered in by the digital era, our findings identify IT ambidexterity as a key mechanism to enhance NPD performance in SMEs. Our results contribute novel insights into the effective role of managerial activities in SMEs and help to explain the role of IT ambidexterity in the NPD literature, thereby facilitating continued theory development in this field of research.

KNOWLEDGE AS A SOURCE OF ENTERPRISE INTELLECTUALISATION

The purpose. The aim of scientific research is to deepen the methodological foundation regarding the essence of knowledge as a source of the enterprise intellectualization and the innovative enterprise intellectual potential effective use ensuring priority. Methodology. The methodological basis of the study consists of: knowledge-based economy theories; entrepreneurship, institutionalism; microeconomic theory of knowledge management; knowledge transformation theories, obtaining new knowledge; of self-learning organization concept. General scientific and formal-logical methods of comparison, analysis, synthesis, abstraction, as well as historical, genetic, linguistic, hermeneutic and heuristic research methods are used. Results. The article is devoted to the justification of the theoretical and methodological principles regarding the essence, place and role of knowledge as the enterprise intellectualization source and the priority of ensuring the innovative enterprises intellectual potential effective use in order to develop their competitive advantages in the knowledge-based economy paradigm. The main stages that change the role of knowledge in society are characterized. Emphasis is placed on the fact that the enterprise can face active competition only if the intellectual component of its resource portfolio is improved. In this context, the information revolution caused new requirements for economic knowledge, and not so much for their volume, but for quality, that reflects the imperatives of progressive, highly moral management. Accordingly, the “center of gravity” of the modern reproduction process objectively shifts from the sphere of market economic transactions to the knowledge reproduction economic space of a high moral and creative level. Modern approaches to understanding information and knowledge are considered, and their comprehensive characteristics are given. The relationship between the categories “data”, “information” and “knowledge” is studied. A new essence understanding of categories “knowledge” and “enterprise intellectualization” is proposed. The knowledge types in the context of epistemological approach are singled out. Scientific novelty. The methodological knowledge essence basis is developed in the work. A classification of knowledge is proposed for better explicit and hidden knowledge management effectiveness differentiation and increasing in the context of innovative development is proposed. Practical significance of the obtained results. The author's developments and recommendations can be used for the purpose of managing the enterprise intellectual potential in order to increase the economic added value due to the generation of organizational knowledge.

How can firms unlock successful implementation of digitalisation? Firm-level evidence from manufacturing companies

ABSTRACT Although starting the process of digitalisation is not difficult for many global companies, successful implementation of digitalisation is much more elusive. Our study thus addresses the following research question: How can companies manage and sustain the positive outcomes of digitalisation, particularly in a volatile environment? We developed a new framework based on dynamics capabilities theory. Through an investigation of 203 Chinese manufacturing companies that have achieved varying degrees of digitalisation, we found that two primary types of strategic flexibility – resource and coordination flexibility – fully mediated the positive relationship between digitalisation and firm performance. Moreover, market turbulence enhanced the positive mediation effects of strategic flexibility (i.e., resource and coordination flexibility) on the digitalisation – performance relationship. This result suggests that when a company faces a highly uncertain market environment but seeks to maintain the performance boost resulting from digitalisation, it needs to place increased emphasis on the flexibility with which it manages and updates its resource portfolios. Our proposed moderated-mediation mechanisms contribute to strategic IS research on digitalisation by elucidating how companies can manage and sustain successful digitalisation outcomes. Our findings also provide insights managers can use to unlock successful implementation of digitalisation.

The mediating performance role of staffing options in MNE subsidiary strategies within rapidly deteriorating environments

PurposeIn an environment of intensive global mobility, this study aims to investigate the performance role of staffing choices within diverse MNE subsidiary strategies. Incorporating the integration-responsiveness (IR) framework with a contingency perspective, this study proposes that the performance success of distinct MNE subsidiary strategies depends on staffing choices. This study argues that performance differences of staffing choices such as assigned expatriates, self-initiated expatriates, former inpatriates and host-country nationals derive from their different knowledge/experience advantages regarding the intra-firm environment and local market conditions.Design/methodology/approachThe study utilizes a unique sample of 169 foreign subsidiaries located in Greece that faced the outbreak of the COVID-19 pandemic (in 2020). For robustness reasons, this study also captures the imposition of capital controls (in June 2015).FindingsThis study finds important mediating performance effects of a diversified human resource portfolio across distinct subsidiary strategies in difficult times. Integration strategy tends to use more assigned expatriates, locally responsive strategy tends to utilize more host-country nationals, whereas multi-focal strategy favors self-initiated expatriates and former inpatriates, with positive subsidiary performance effects accordingly. So, staffing policies that are suitable to balance the needs of Human Resource Management (HRM) portfolio differ from strategy to strategy. Moreover, this study finds that managing HRM diversity is crucial in turbulent times.Originality/valueWhile the empirical evidence has been predominantly accumulated from large economies, largely neglecting performance effects of MNE subsidiary staffing in crisis contexts, the analysis sheds light on a small open economy (i.e. the Greek context) emphasizing rapidly environmental deterioration. The findings extend existing theorizing on international performance and HRM management by providing an integrative conceptual framework linking integration-responsiveness motivated strategies with distinct groups of high-quality human resources under contingency considerations, so creatively synthesizing largely fragmented IB and HRM research streams. The study provides valuable insights into the performance role of non-conventional staffing choices such as self-initiated expatriates and former inpatriates, given that relevant studies examine either exclusively expatriates or compare expatriates with host country nationals, reaching inconclusive results.

On Intra-Group Allocative Efficiency of Resources in Industrial Business Models

The main reason for the creation of industrial firms with complex hierarchies is the transaction and optimization of resources, and the scaling of specific investments. The allocative efficiency of the resource portfolio determines the or-ganizational and economic results of the industrial business models cooperation. The article is devoted to modeling the impact of intra-group allocation of produc-tion assets on the revenue and profitability of sales for group of industrial enter-prises. We also construct scenarios for optimizing its resource portfolio. The me-thodologically study is based on neo-institutional economic theories (contract theory, the agency problem theory) and the macroeconomic analysis. The methods are econometric and scenario modeling. The information base of the study was da-ta on economic activity for eight enterprises from UMK-Steel LTD of the multi-functional holding «Ural Mining and Metallurgical Company». We select a re-gression analysis toolkit that allows for a comprehensive and relevant measure-ment of the impact of various types of resources on the efficiency in the group of industrial enterprises. The results of empirical testing revealed the relationship be-tween the structure of fixed assets, as well as labor resources, and the indicators of revenue and profitability of sales in UMK-Steel LTD. The distribution of material resources between the enterprises of the group has practically no effect on its per-formance indicators. Further, we identify the base scenario for allocation of the resource portfolio. The proposed methodology contributes to the development of approaches to the system analysis of intragroup allocative efficiency in complex hierarchical industrial business models.

Analysis of the Portfolio of Industrial Waste Resources in the Production of Cement-free Hardening Mixtures for Open-cut Flushing of Workings

Analysis of the studies results of the resource portfolio and the main characteristics of by-products with the possibility of their use as inert aggregates of cement-free hardening mixtures, which, together with the development and improvement of the coal mining process scheme, allows addressing environmental issues. It was revealed that, during the reclamation of open-cut mining, retainers can be made by a cement-free layer of hardening backfill from preconditionned technogenic products, which, after hardening, becomes a fixative and prevents soil subsidence.

Internal waves

Internal waves are ubiquitous oceanographic features that occur in various forms across the world’s oceans. They manifest themselves as interface waves across ocean density layers that represent the interplay between buoyancy and gravitational forces, and are typically classified as linear and nonlinear internal waves. Nonlinear internal waves are characterized by isopycnal displacements that can exceed 30 m, and current velocities that approach 1 m/s. Internal wave energy converters, if developed, could have the advantage of no surface expression and provide for the availability of renewable ocean energy in regions of scant surface wave energy resources.
 Here, internal wave energies were computed at two locations: the New Jersey continental shelf and the coast of Central California. The available energy resource calculated for internal waves was then compared against surface gravity wave resources at each of these locations. Results suggest that the internal wave energy flux is comparable to that of surface waves on the New Jersey continental shelf during the summer of 2006 but is two orders of magnitude lower than that of surface waves in Central California during the summer of 2017. When expressed in terms of forces on a cylindrical structure, internal wave forces are an order of magnitude lower than that of surface waves on identically sized cylinders. However, the forces of the two resources are comparable when the diameter of the cylinder is doubled for the internal wave calculations. This suggests that while a larger energy converter would be required to harness internal wave energy, the larger size could be a reasonable tradeoff for advantages such as the lack of surface expression and the availability of energy in regions of limited surface wave energy resources.
 These results could potentially pave the way for longer-time scale characterization of internal waves and the development of devices to harness this energy resource (thereby powering the Blue Economy), while augmenting the portfolio of marine renewable energy resources. Further, the dominance of internal wave energy resources during summer seasons when the water column is stratified can augment the surface wave energy resource that can be diminished during the summer season.

Towards Proactive Risk-Aware Cloud Cost Optimization Leveraging Transient Resources

Low-cost transient resources such as Amazon's Elastic Compute Cloud (EC2) Spot instances can be opportunistically leveraged to reduce the ongoing costs of cloud applications. However, they are susceptible to unilateral revocations by the vendor making them a risky proposition for long-running applications with strict performance requirements. It is challenging to effectively balance the cost savings that transient resources provide with the associated revocation risk which, if realised, can impact application performance. To address this challenge, we propose an approach for risk-aware cloud cost optimization that is inspired by the concept of <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">portfolio diversification</i> . <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">Contract diversification</i> mitigates the revocation risk by procuring the required compute capacity as a mixed portfolio of transient and non-transient resources. <italic xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">Resource diversification</i> further diversifies the risk by using multiple transient resource types. Using our approach, consumers can leverage contract and resource diversification to proactively (re-)configure their application's resource portfolio to handle workload and resource price fluctuations while minimizing ongoing cost and keeping ongoing revocation risk within tolerable limits. Simulative evaluation using three real-world workload traces and Amazon's EC2 offerings demonstrate that our proposed approach can achieve meaningful cost savings compared to the baseline costs, while significantly reducing the portfolio's exposure to revocation risk.