Variability, in general, has a deteriorating effect on the performance of stochastic inventory systems. In particular, previous results indicate that demand variability causes a performance degradation in terms of inventory related costs when production capacity is unlimited. In order to...

This paper takes a utility-based approach to the single-period and single-item newsvendor model. Unlike most models in the literature the newsvendor is not necessarily risk-neutral and chooses the order quantity that maximizes the expected utility of the cash flow at the end of the period. We...

The purpose of this paper is to investigate the structural properties of the optimal batch acceptance policy in a Markovian queueing system where different classes of customers arrive in batches and the buffer capacity is finite. We prove that the optimal policy can possess certain monotonicity...

We consider a logistics spot market where the transportation orders from a number of firms are matched with two types of carriers through a reverse auction. In the spot market, local carriers compete with in-transit carriers that have lower costs. In order to analyze the effects of implementing...

It is known that inaccurate inventory records can lead to profit losses in a supply chain. Inventory records may not be correct due to various reasons such as transaction errors, misplacement, shrinkage, etc. In order to eliminate inventory inaccuracy, companies may invest in new information...

This paper models a call center as a Markovian queue with multiple servers, where customer impatience, and retrials are modeled explicitly. The model is analyzed as a continuous time Markov chain. The retrial phenomenon is explored numerically using a real example, to demonstrate the magnitude...