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...

Quality Control sampling plans are normally chosen by usingindustrial and military standards. These standards do notinvolve economic considerations, and usually fail to meet costconsiderations.The Information Economic approach presented in this papersuggests an easy to use methodology which...