In their paper (Derman, C., M. Klein. Inventory depletion management. Technical Report No. 2, Oct. 1957, Statistical Engineering Group, Columbia University.), Derman and Klein present sufficient conditions on the field life of an item function under which a LIFO policy is optimal. This paper...

The educational goal of a graduate program in the management sciences should be to adequately prepare a student for a lifetime pursuit of any phase of management science he chooses. More specifically, the program should be designed for a student who desires a management science education to meet...

Suppose there are n men available to perform n jobs. The n jobs occur in sequential order with the value of each job being a random variable X. Associated with each man is a probability p. If a "p" man is assigned to an "X = x" job, the (expected) reward is assumed to be given by px. After a man...

This paper first examines the role of ceiling points in solving a pure, general integer linear programming problem (P). Several kinds of ceiling points are defined and analyzed and one kind called "feasible 1-ceiling points" proves to be of special interest. We demonstrate that all optimal...

This paper provides results related to the optimal design of unpaced production lines. It has been shown previously that unbalancing an unpaced production line in an appropriate way will increase its production rate. Results are presented here which show how the optimal allocation of work...

This investigation considers certain issues regarding the optimal design of unpaced production lines with variable processing times. Under certain assumptions, including an equal allocation of buffer storage space between the respective pairs of stations, it is known that the optimal allocation...

The amount of risk involved is often one of the important considerations in the evaluation of proposed investments. This paper is concerned with the derivation of the type of explicit, well-defined, and comprehensive information that is essential for an accurate appraisal of a risky investment....

This paper discusses the problem of assigning locations to indivisible facilities and its relation to the quadratic assignment problem. It also develops two suboptimal algorithms, one dealing with the general quadratic assignment problem and the other with an interesting special case....

This note is intended to clarify an issue that has been raised regarding one section of a recent paper by this writer [Hillier, Frederick S. 1963. The derivation of probabilistic information for the evaluation of risky investments. Management Sci. 9 (3, April) 443-457.]. This issue concerns the...

Studies of industrial waiting line problems typically involve determining the proper balance between the amount of service and the amount of waiting for that service. This paper presents some basic results for the case where the study is to be based upon fundamental cost considerations and the...