We explore the value of information in the context of a firm that faces uncertainty with respect to demand, product returns, recovery yield, and capacity utilization. Capacity is finite and shared between new production and recovery operations. The operational decisions of interest are the...

In this study, we address control policies to manage the collection of products that have been returned by consumers to retailers after they have been sold. Specifically, we model a consumer returns process where the operational decision of interest is the frequency in which returns are picked...

The problem of interest is a one product, uncapacitated master production schedule (MPS) in which decisions are made under rolling planning horizons. Demand is stochastic and time varying, and effectiveness is measured by inventory holding, production setup, and backorder costs. Typically, in...

This paper develops an order-up-to S inventory model that is designed to handle multiple items, resource constraints, lags in delivery, and lost sales without sacrificing computational simplicity. Mild conditions are shown to ensure that the expected average holding cost and the expected average...

As a follow up to Steve Morlidge’s series on Guiding Priciples in previous issues of Foresight, here the authors offer comments on the principles governing process design, particularly regarding the management of forecasting biases. Copyright International Institute of Forecasters, 2012