In a multi-item inventory system, such as an assemble-to-order manufacturing system or an online-retailing system, a customer order typically consists of several different items in different amounts. The average order-based backorders are the average number of customer orders that are not yet...

In a discrete-event simulation, the information related to the events scheduled to occur in the future is kept in a data structure called the future event set (FES). In this paper, we study the interaction hold model, a popular stochastic model for FES performance analysis, corresponding to the...

We study an assemble-to-order inventory system. The stocks are held for components, with final products assembled only when customer orders are realized. Customer orders form a multivariate compound Poisson process, component replenishment leadtimes are constant, and demands in excess of...

We address the empirical implementation of the static asset allocation problem by developing a forward-looking approach that uses information from market option prices. To this end, we extract constant maturity S&P 500 implied distributions and transform them to the corresponding risk-adjusted...

State-Owned Enterprises (SOEs) have become important instruments of social and economic policy in industrialized mixed economies and in developing countries. The use of SOEs as instruments of public policy and the resulting clashes between these enterprises and private firms on the one hand and...

Reducing manufacturing lead times and minimizing work-in-process (WIP) inventories are the cornerstones of popular manufacturing strategies such as Lean, Quick Response, and Just-in-Time Manufacturing. In this paper, we present a model that captures the relationshipbetween facility layout and...

The evidence is clear that a lack of attention to structured tool management has resulted in the poor performance of many manufacturing systems. Plant tooling systems affect product design options, machine loading, job batching, capacity scheduling, and real-time part routing decisions. With...