We consider the reorder point, order quantity inventory model where the demand, D, and the lead time, L, are independently and identically distributed (iid) random variables. This model is analytically intractable because of order crossover. However, we show how to resolve the intractability by...

We develop an open information standard to assist supply chain modeling, analysis, and decision support. The Supply Chain Modeling Language (SCML) is a platform- and methodology-independent Extensible Markup Language (XML)-based markup language for storing supply chain structural and managerial...

We use exponential lead times to demonstrate that reducing mean lead time has a secondary reduction of the variance due to order crossover. The net effect is that of reducing the inventory cost, and if the reduction in inventory cost overrides the investment in lead time reduction, then the lead...

An almost universal assumption in the bullwhip effect modeling literature is that excess goods may be returned without restriction. We seek to determine if returns impact the level of bullwhip effect observed in a multi-stage supply chain. We build a hybrid agent/discrete-event simulation model...

The analysis of the full stochastic model in which both the demand per unit time and the lead time are stochastic is complex. Analysis of the reduced stochastic inventory models in which only one of the parameters (either the demand per unit time or the lead time) is stochastic and the other is...

Motivated by the proliferation of online selling, we study a seller's decision problem: The seller has one unit of product and needs to choose a selling format among three different ones (posted price, auction, and buy-price auction), as well as to decide upon the corresponding decision...

When supply lead times are uncertain, the simultaneous procurement from two sources offers savings in inventory holding and shortage costs. Economies are achieved if these savings outweigh the increase in ordering costs. In this paper we analyze dual sourcing in the context of the "reorder...