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...

This paper investigates the efficiency of antithetic variate simulation for estimating the expected completion time of stochastic networks. The method is compared with Monte Carlo simulation and considers both computation effort and the variance of the estimators. An efficiency ratio is first...

Risk analysts frequently encounter functional relationships concerning costs and revenue which can be expressed as standard algebraic forms. The forms are quadratic, product, or mixed functions of variables which are normally distributed and not necessarily statistically independent. (The ratio...

We present a heuristic for lot sizing in serial assembly systems with multiple contrained resources. This procedure, the Coefficient Modification Heuristic (CMH), exploits a special problem structure by solving repetitively a small linear programming restriction of the original problem. The key...

The majority of reverse auctions for procurement use a single-attribute (price) format while providing constraints on nonprice attributes such as quality and lead time. Alternatively, a buyer could choose to conduct a multiattribute auction where bidders can specify both a price and levels of...

We introduce a heuristic method for finding good, feasible solutions for multiproduct lot sizing problems with general assembly structures, multiple constrained resources, and nonzero setup costs and setup times. We evaluate the performance of this heuristic by comparing its solutions to optimal...