This note deals with the problem of minimising the expected sum of quadratic holding and shortage inventory costs when a single, failure-prone machine produces multiple part-types. Shu and Perkins (2001) introduce the problem and, by restricting the set of control policies to the class of...

To have a productive sales force, firms must provide their salespeople with sales training. But from a profit-maximizing perspective, there are also reasons to limit training: training is expensive, it has diminishing returns, and trained salespeople need to be compensated at a higher level...