In most multi-item inventory systems, the ordering costs consist of a major cost and a minor cost for each item included. Applying for every individual item a cyclic inventory policy, where the cycle length is a multiple of some basic cycle time, reduces the major ordering costs. An efficient...

In this paper we analyse the effect of satisfying in a different way customers with an order larger than a prespecified cutoff transaction size, in a simple newsboy setting.For compound Poisson demand with discrete order sizes, we show how to determine the expected costs and the optimal cutoff...

In this paper we consider a 1-warehouse, N-retailer inventory system where demand occurs at all locations. We introduce an inventory model which allows us to set different service levels for retailers and direct customer demand at the warehouse. For each retailer a critical level is defined,...

In this chapter we give an overview on the theory of noncooperative games. In the first part we consider in detail for zero-sum (and constant-sum) noncooperative games under which necessary and sufficient conditions on the payoff function and different (extended) strategy sets for both players...

We discuss a class of risk measures for portfolio optimization with linear loss functions, where the random returns of financial instruments have a multivariate elliptical distribution. Under this setting we pay special attention to two risk measures, Value-at-Risk and Conditional-Value-at-Risk...

Several approaches exist to model decision making under risk, where risk can be broadly defined as the effect of variability of random outcomes. One of the main approaches in the practice of decision making under risk uses mean-risk models; one such well-known is the classical Markowitz model,...

The first algorithms for the on-line two-dimensional rectangle packing problem were introduced by Coppersmith and Raghavan. They showed that for a family of heuristics 13/4 is an upper bound for the asymptotic worst-case ratios. We have investigated the Next Fit and the First Fit variants of...

We consider an economic order quantity type model with unit out-of-pocket holding costs, unit opportunity costs of holding, fixed ordering costs and general transportation costs. For these models, we analyze the associated optimization problem and derive an easy procedure for determining a...

A probabilistic analysis is presented of the Next Fit Decreasing bin packing heuristic, in which bins are opened to accomodate the items in order of decreasing size.