Vehicle routing variants with multiple depots and mixed fleet present intricate combinatorial aspects related to sequencing choices, vehicle type choices, depot choices, and depots positioning. This paper introduces a dynamic programming methodology for efficiently evaluating compound...

We develop a flexible discrete-time hedging methodology that minimizes the expected value of any desired penalty function of the hedging error within a general regime-switching framework. A numerical algorithm based on backward recursion allows for the sequential construction of an optimal...

Managerial flexibility can have a significant impact on the value of new product development projects. We investigate how the market environment in which a firm operates influences the value and use of development flexibility. We characterize the market environment according to two dimensions,...

We consider the economic lot-sizing problem with perishable items (ELS-PI), where each item has a deterministic expiration date. Although all items in stock are equivalent regardless of procurement or expiration date, we allow for an allocation mechanism that defines an order in which the items...

As bunker fuel cost constitutes a major portion of the shipping liners’ operating cost, it is imperative for them to minimize the bunkering cost to remain competitive. Service contract with a fuel supplier is a strategy they venture on to reduce this cost. Typically, liner operators enter into...

This paper presents a model and solution methodology for scheduling patients in a multi-class, multi-resource surgical system. Specifically, given a master schedule that provides a cyclic breakdown of total OR availability into specific daily allocations to each surgical specialty, the model...

This paper extends the results of a particular capacitated vehicle routing problem with pickups and deliveries (see Pandelis et al., 2013b) to the case in which the demands for a material that is delivered to N customers and the demands for a material that is collected from the customers are...

We examine the intertemporal and decentralization effects on managing disruption risks in a supply chain with lost sales and fixed transportation cost. The disruption risk is continuously monitored via collaborative forecasting based on advance supply signals—such as financial health and...

This note suggests faster algorithms for two integrated production/distribution problems studied earlier, improving their complexities from O(n2V + 4) and O(n2(L + V)2) to O(n) and O(n + Vmin {V, n}) respectively, where n is the number of products to be delivered, V is the number of vehicles...

The problem of dynamic portfolio choice with transaction costs is often addressed by constructing a Markov Chain approximation of the continuous time price processes. Using this approximation, we present an efficient numerical method to determine optimal portfolio strategies under time- and...