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Assortment Optimization with Product Level Demand and Substitution Information
Bai, Lihua; Shaikh, Nazrul I. - 2018
service level goals. The proposed model uses the expected demand and substitution probabilities between products as inputs and … has been used to analyze the effects of demand variability on profitability under service level constraint. The results of … correlations in demand leads to significantly inefficient assortments …
Persistent link: https://www.econbiz.de/10014116382
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Solution to a Class of Two-stage Stochastic Programs with Multivariate Normal Uncertainty
Bansal, Saurabh; Dyer, James - 2013
We provide results for an efficient analytical valuation of partial moments of the multivariate Gaussian distribution over convex polyhedrons to aid the solution, sensitivity analysis and structural analysis of a large number of two-stage resource acquisition and allocation problems. These...
Persistent link: https://www.econbiz.de/10014184708
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The block planning approach for continuous time-based dynamic lot sizing and scheduling
Günther, Hans-Otto - In: Business research 7 (2014) 1, pp. 51-76
This paper calls for a change in paradigm in lot sizing and scheduling. Traditionally, a discrete time scale is chosen to model lot sizing and scheduling. As an alternative, the so-called block planning concept is proposed which is based on a continuous representation of time. A mixed-integer...
Persistent link: https://www.econbiz.de/10010414317
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A Mixed Optimization Technique for the Generalized Machine Replacement Problem
Sethi, Suresh - 2014
subproblem, which one may choose to solve via control theory, dynamic programming, or practical engineering considerations. A … control theory formulation is used in the paper as an illustration. These subproblem solutions are then incorporated into a …
Persistent link: https://www.econbiz.de/10013071069
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Minimizing Makespan in Flowshops with Pallet Requirements : Computational Complexity
Wang, M. W. - 2010
We establish the computational complexity of the problem of minimizing makespan in a flowshop, where each jobs requires a pallet the entire time, from the start of its first operation until the completion of the last operation. We prove that the problem is NP-hard in the strong sense for m =2...
Persistent link: https://www.econbiz.de/10013152472
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Optimal Policies for Inventory Systems with Piecewise-Linear Concave Ordering Costs
Bensoussan, Alain - 2020
We study infinite-horizon stochastic inventory problems with general demand distributions and piecewise linear concave … consist of generalizing the demand, solving a functional Bellman equation for the value function that arises in the infinite …-horizon framework, and providing an explicit solution in a special case of the exponential demand. We also give conditions under which …
Persistent link: https://www.econbiz.de/10012834054
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A Quantity Discount Lot Size Model with Disposals
Sethi, Suresh - 2020
Two types of quantity discounts are treated in the literature, namely, 'all units' discounts and incremental quantity discounts. In the all units quantity discounts model. the discount applies to every unit purchased. As a result, the total purchase cost is a discontinuous function of the...
Persistent link: https://www.econbiz.de/10012834409
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Turnpike Sets in Stochastic Production Planning Problems
Sethi, Suresh - 2020
production planning problems with capacity and demand to be finite state Markov chains. Turnpike set concepts are introduced to … provided that the capacity is assumed to be fixed at a level exceeding the maximum possible demand. Conditions under which the …, it is shown that t,he turnpike sets exhibit a monotone property with respect to capacity and demand. It turns out that …
Persistent link: https://www.econbiz.de/10012834925
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Optimal Production Planning in a Multi-Product Stochastic Manufacturing System with Long-Run Average Cost
Sethi, Suresh - 2020
This paper is concerned with the problem of production planning in a flexible manufacturing system consisting of a single or parallel failure-prone machines producing a number of different products. The objective is to choose the rates of production of the various products over time in order to...
Persistent link: https://www.econbiz.de/10012835668
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Optimal Batch Ordering Over a Finite Planning Horizon
Alsuwainea, Abdullah O. - 2020
This paper is concerned with finding an optimal inventory policy for a finite horizon, two-stage inventory model. In this model, products may be manufactured in two stages. The first stage uses raw material from an external supplier and the second stage uses raw material from defective items...
Persistent link: https://www.econbiz.de/10012838117