Operations Management (OM) has evolved to its current status due to the contributions of researchers in many fields including economics, finance, behavioral sciences, operations research/management science, mathematics, statistics, and computer science. Many of these contributors are Nobel...

Supply chains today routinely use third parties for many strategic activities, such as manufacturing, R&D, or software development. These activities often include relationship-specific investment on the part of the vendor, while final outcomes can be uncertain. Therefore, writing complete...

This paper considers an optimal production planning problem for an infinite horizon stochastic manufacturing system with long-run average cost criterion. The optimal feedback control is characterized by turnpike sets with the aid of viscosity solutions to the dynamic programming equations. The...

We study the problem of optimal staged purchases of electricity in time-sequential deregulated electricity markets. In recent years, the electricity industry has been deregulated and multiple time-sequential auction markets, such as the block forward, the day-ahead and the hour-of, and the...

Most manufacturing systems are large and complex and operate in an uncertain environment. One approach to managing such systems is that of hierarchical decomposition. This paper reviews the research devoted to proving that a hierarchy based on the frequencies of occurrence of different types of...

This paper is concerned with a periodic review inventory system with fast and slow delivery modes, fixed ordering cost, and regular demand forecast updates. At the beginning of each period, on-hand inventory and demand information are updated. At the same time, decisions on how much to order...

We study a single-period two-stage service-constrained supply chain with an information update. The buyer has two purchasing instances: before and after the forecast update. The procurement cost at the second stage is uncertain at the first stage. We determine the optimal ordering policy with...

We present a periodic review inventory model with multiple delivery modes. We generalize the notion of the base-stock policy for inventory systems with multiple delivery modes. While base-stock policies are optimal for one or two consecutive delivery modes, it is not so otherwise. For multiple...