Retailers often face a newsvendor problem, i.e., they must order their inventory prior to a short selling period with uncertain demand. The uncertainty can be reduced by advance selling because not only are advance orders certain, but the remaining demand can be better forecasted. Consumers,...

The evidence is clear that a lack of attention to structured tool management has resulted in the poor performance of many manufacturing systems. Plant tooling systems affect product design options, machine loading, job batching, capacity scheduling, and real-time part routing decisions. With...