In this study we investigate the desired level of recovery under various inventory control policies when the success of recovery is probabilistic. Recovery process is modelled as a single stage operation and recovery effort is represented by the expected time spent for it. The effect of...

Uncertainty is a norm in business decisions. In this research, we focus on the inventory decisions for companies with uncertain customer demands. We first investigate forward buying strategies for single stage inventory decisions. The situation is common in commodity industry where prices often...

As a result to today?s uncertain economy, companies are searching for alternative ways to stay competitive. In which, Company XYZ has been faced with an ineffective forecasting method that has lead to multiple product stock outs. The issue faced has caused sales loss as well as profit loss,...

This paper is concerned with the optimality of (s, S) policies for a single-item inventory control problem which minimizes the total expected cost over an infinite planning horizon and where the demand is driven by a piecewise deterministic process. Our approach is based on the theory of...

Demand and procurement planning for consumer electronics products must cope with short life cycles, limited replenishment opportunities and a willingness to pay that is influenced by past prices and decreases over time. We therefore propose the use of an integrated pricing and inventory control...

A random variable (RV) X is given aminimum selling price $$S_U \left( X \right):=\mathop {\sup }\limits_x \left\{ {x + EU\left( {X - x} \right)} \right\}$$ and amaximum buying price $$B_p \left( X \right):=\mathop {\inf }\limits_x \left\{ {x + EP\left( {X - x} \right)} \right\}$$ whereU(·)...

This paper is concerned with identifying an effective method for forecasting the lead time demand of slow-moving inventories. Particular emphasis is placed on prediction distributions instead of point predictions alone. It is also placed on methods which work with small samples as well as large...

This paper investigates the impact of trade barriers such as customs clearance, subjective trade obstacles (customs and trade regulations), and inventory of inputs on the internationalization of enterprises in Southeast Asia and Latin America, using the World Bank's enterprise surveys. Empirical...

A random variable (RV) X is given aminimum selling price <Equation ID="E1"> <EquationSource Format="TEX"> $$S_U \left( X \right):=\mathop {\sup }\limits_x \left\{ {x + EU\left( {X - x} \right)} \right\}$$ </EquationSource> </Equation> and amaximum buying price <Equation ID="E2"> <EquationSource Format="TEX"> $$B_p \left( X \right):=\mathop {\inf }\limits_x \left\{ {x + EP\left( {X - x} \right)} \right\}$$ </EquationSource> </Equation>...</equationsource></equation></equationsource></equation>

This paper is concerned with the optimality of (s, S) policies for a single-item inventory control problem which minimizes the total expected cost over an infinite planning horizon and where the demand is driven by a piecewise deterministic process. Our approach is based on the theory of...