In this paper we consider the classical newsvendor model with profit maximization. When demand is fully observed in each period and follows either the Rayleigh or the exponential distribution, appropriate estimators for the optimal order quantity and the maximum expected profit are established...

This paper considers the classical Newsvendor model, also known as the Newsboy problem, with the demand to be fully observed and to follow in successive inventory cycles one of the Exponential, Rayleigh, and Log-Normal distributions. For each distribution, appropriate estimators for the optimal...

Large product variety in mass customization involves a high internal complexity level inside a company’s operations, as well as a high external complexity level from a customer’s perspective. To cope with both complexity problems, an information system based on agent technology is able to be...

Mass customization is a business strategy that aims at satisfying individual customer needs, nearly with mass production efficiency. It induces a high complexity level because of various customer requirements and a steadily changing environment. However, mass customization has some potential to...

Mass customization is a business strategy that aims at satisfying individual customer needs, nearly with mass production efficiency. It induces a high complexity level because of various customer requirements and a steadily changing environment. However, mass customization has some potential to...

Product configurators are considered to be among the most successful applications of artificial intelligence technology. In this paper, we determine different conceptualizations of configurators and condense them in a comprehensive morphological box, which should support configurator designers...

Large product variety in mass customization involves a high internal complexity level inside a companyís operations, as well as a high external complexity level from a customerís perspective. In order to reach a competitive advantage through mass customization, it is necessary to cope with...

This paper considers the classical newsvendor model when, (a) demand is autocorrelated, (b) the parameters of the marginal distribution of demand are unknown, and (c) historical data for demand are available for a sample of successive periods. An estimator for the optimal order quantity is...

In this paper we investigate the convexity of the annual total cost function for the Hadley & Whitin (1963) continuous review (Q,R) inventory model with backorders and fixed lead-time, when the reorder point is non-negative and the cost per unit backordered is used to calculate the expected...