Lariviere and Porteus (2001) introduce the concept of generalized failure rate of a continuous random variable and demonstrate its importance. If the valuation distribution of a product has an increasing generalized failure rate (that is, the distribution is IGFR), then the associated revenue...

Procurement has become a vital strategic function as firms increasingly pursue supply chain partnerships and outsourcing options. By coordinating procurement policies across multiple divisions and leveraging firm-wide purchasing power to negotiate significant volume discounts from suppliers,...

In some retail contexts, higher inventories not only improve service levels, but also stimulate demand by serving as a promotional tool (e.g., by increasing product visibility). Motivated by a building-products retailer's practice of stocking large quantities of products to stimulate demand, we...

Solar electricity generation is a strategic component in the energy portfolio of many countries to replace fossil fuels and reduce green-house gas emissions. Installations of solar photovoltaic (PV) systems by residential homes in the United States have grown rapidly in the past decade, driven...