We study the value of inventory integration (or pooling) for a firm selling a seasonal good over two periods: in the first period the firm charges a high price, and in the second period the firm charges a low price to clear remaining inventory. Consumers are rational and decide when to visit the...

Fixed costs of ordering items or setting up a process arise in many real-life scenarios. In their presence, the most widely used ordering policy in the stochastic inventory literature is the (s, S) policy. Optimality of (s, S) policies and (s, S)-type policies have been investigated for various...

In this paper, we use a Markov decision process (MDP) to model the joint inventory-promotion decision problem. The state variable of the MDP represents the demand state brought about by changing environmental factors as well as promotion decisions. The demand state in a period determines the...

We develop a new, unified approach to treating continuous-time stochastic inventory problems with both the average and discounted cost criteria. The approach involves the development of an adjusted discounted cycle cost formula, which has an appealing intuitive interpretation. We show for the...

We present an efficient dynamic programming algorithm to determine the optimal assortment and inventory levels in a single-period problem with stockout-based substitution. In our model, total customer demand is random and comprises of a fixed proportion of customers of different types. Customer...

We deal with the problem of a profit-maximizing vendor selling a perishable product. At the beginningof a planning cycle, the vendor determines a minimum committed order per period. During the cycle, he may also place a supplemental order in each period based on the observed demand signal in...

This paper studies multiproduct inventory models with stochastic demands and a warehousing constraint. Finite horizon as well as stationary and nonstationary discounted-cost infinite-horizon problems are addressed. Existence of optimal feedback policies is established under fairly general...

This paper revisits the finite-horizon model of a censored newsvendor by Ding et al. [Ding, X., M. L. Puterman, A. Bisi. 2002. The censored newsvendor and the optimal acquisition of information. Oper. Res. 50 517ndash;527]. An important result claimed there without a proper proof is that the...

In many inventory control contexts, inventory levels are only partially (i.e., not fully) observed. This may be due to nonobservation of demand, spoilage, misplacement, or theft of inventory. We study a partially observed inventory system where the demand is not observed, inventory level is...

How different are retailers' inventory levels around the world? Specifically, are retailers' inventories constant across countries, converging, or at least co-integrating? These might be viewed as various forms of global determinism. To see which of these forms hold, I use a novel dataset...