In this paper we examine several models for systems subject to both repairable and nonrepairable failures. A repairable failure can be remedied by the application of a repair kit (spare part, standby system, etc.), whereas a nonrepairable failure terminates the life of the system. The stochastic...

A critical issue in many marketing research studies is the creation of experimental clusters for the purpose of testing new products, advertising campaigns and other marketing decisions prior to widespread introduction in the marketplace. These experimental clusters are often called "test...

This paper is concerned with the development of an optimal budget holdback policy for a multi-item procurement process. An annual budget is made available for the purchase and resupply of n items. The issue is to determine how much of the budget to commit initially and how much to hold back for...

Recent extreme economic developments nearing a worst-case scenario motivate further examination of minimax linear programming approaches for portfolio optimization. Risk measured as the worst-case return is employed and a portfolio from maximizing returns subject to a risk threshold is...

The most popular approach to developing mathematical models of organizational decision processes, the decomposition approach, begins with a mathematical statement of an ideal organizational problem and follows a process of decomposition to derive sub-problems solved by separate units at...

This paper proposes an improved model for solving the long-run multiple warehouse location problem. The approach used provides a synthesis of a mixed integer programming formulation for the single-period warehouse location model with a dynamic programming procedure for finding the optimal...