We analyze the optimal production and inventory decisions of a global corn seed manufacturer. Due to naturally long supply lead times and short selling seasons in agriculture, we propose a newsvendor model, which includes not only supply and demand uncertainty, but also product returns and...

This paper analyzes the optimal production decisions of a seed manufacturer confronted by the increased likelihood of extreme weather events that amplify the volatility of the yield in the seed production process. We model the process as a discrete-time stochastic dynamic optimization problem...