The completion of a typical project hinges upon receiving all the purchased components by thetime they are scheduled to be used. Some of these components may have long stochastic leadtimes, so the project manager is tempted to order them ASAP, to avoid the (usual) high penaltiesassociated with...

Inventory Management has been widely discussed in theliterature. Recently, the so called quot;Just in TimeAtilde;cent;Acirc;not;Acirc;? methodreceived extensive publicity and was claimed to be one of themajor factors of the Japanese industrial success. This, in turn,promoted a large campaign in the...

This paper describes a model base Decision SupportSystem (DSS) for purchasing materials and componentsfor large projects. The DSS may be used under twoscenarios. Under one scenario, we have a project toexecute, and we are looking for a good way to managethe purchasing so as to minimize the...