We consider a newsvendor who makes an ordering decision to meet stochastic demand and buys a put option written on the demand to hedge against the risk of low demand to maximize his expected utility, which is measured by the conditional value-at-risk (CVaR). The put option is fairly priced with...

We consider a make-to-stock system served by an unreliable machine that produces one type of product, which is sold to customers at one of two possible prices depending on the inventory level at the time when a customer arrives (i.e., the decision point). The system manager must determine the...

In this paper, we study a logistics network design problem with vendor managed inventory in which the company is in charge of managing inventory for its downstream warehouses and retailers, and can choose whether to satisfy each retailer's demand. The problem incorporates the location,...

We study a multi-item, multiple classes of demand, assemble-to-order system. The inventory of each item is kept at the item level and controlled by the base-stock policy with a finite capacity. Each item is replenished by an independent unreliable machine. Each type of demand arrives according...

This paper studies the purchasing behaviour of a loss-averse engineer-to-order manufacturer, who purchases a key component for his final product from a supplier under a single-wholesale-price contract with spot purchase opportunities, where both the product demand and the component spot price...

We consider the optimal production and inventory allocation of a single-product assemble-to-order system with multiple demand classes and lost sales. Each component is replenished by a dedicated machine that is subjected to unpredictable breakdowns. We find that the machine state not only...

The size effect of the dielectric properties and the barrier height was investigated in the ferroelectric solid solution Ba<Subscript> x </Subscript>Sr<Subscript>1−x </Subscript>TiO<Subscript>3</Subscript> system. The decrease of the grain size causes the suppression of the ferroelectricity, and the increase of the relaxation frequency. Barrier heights increase...</subscript></subscript></subscript>

The 2008 Wenchuan earthquake induced a large number of landslides, and a vast amount of loose landslide materials deposited on steep hill slopes or in channels. Such loose materials can become sources of deadly debris flows once triggered by storms. On 13 August 2010, a storm swept Yingxiu and...

Dam breaks have catastrophic consequences for human lives. This paper presents a new human risk analysis model (HURAM) using Bayesian networks for estimating human risks due to dam-break floods. A Bayesian network is constructed according to a logic structure of loss-of-life mechanisms. The...