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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...
Persistent link: https://www.econbiz.de/10012855124
Literature on healthcare supply chain management has shown that the lean system can provide significant benefits.It known that success in lean management doesn't come with employees but through current technology and clinical perfection.The effort of serving society causes hospitals to spend...
Persistent link: https://www.econbiz.de/10012964461
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...
Persistent link: https://www.econbiz.de/10014085423
. Reverse Logistics dealswith the processes associated with the reverse stream fromusers/owners to re-users. This paper provides … a review and contentanalysis of scientific literature on reverse logistics case studies.Over sixty case studies are …
Persistent link: https://www.econbiz.de/10014083591
This paper considers a production-inventory problem in which the manufacturer participates in an energy buy-back program, which offers him probabilistic opportunities with rewards for not using electricity. That is, the manufacturer will get paid for stopping production to save on electricity....
Persistent link: https://www.econbiz.de/10014046878
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...
Persistent link: https://www.econbiz.de/10012766626
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...
Persistent link: https://www.econbiz.de/10012766722
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...
Persistent link: https://www.econbiz.de/10012772025
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...
Persistent link: https://www.econbiz.de/10012772797
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...
Persistent link: https://www.econbiz.de/10012721632