The global markets of today offer more selling opportunities to the deteriorating items' manufacturers, but also pose new challenges in production and inventory planning. From a production management standpoint, opportunities to exploit the difference in the timing of the selling season between...

In this paper, we model the supply chain network as a closed Jackson queuing network and apply the properties of the closed Jackson network to explain some properties of a supply chain network. Under certain conditions, a simple throughput function that is the function of only the numbers of...

The importance of understanding the underlying characteristics of international crude oil price movements attracts much attention from academic researchers and business practitioners. Due to the intrinsic complexity of the oil market, however, most of them fail to produce consistently good...

This paper reports on the application of the sequential method, presented in a previous paper by Lai et al. in 2001, to determine optimal strategies of when to carry out a preventive maintenance action for an engine and when to replace an engine in use. The sequential method was run with real...

Purpose – The purpose of this paper is to numerically analyze the coordinating mechanism of the revenue‐sharing contract in newsvendor products' supply chain. The contract considers stochastic and price‐dependent demand. Design/methodology/approach – The paper presents an analytical...

Purpose – This paper seeks to apply a framework of collaborative planning, forecasting and replenishment (CPFR) to develop a procurement model for agricultural products. Design/methodology/approach – Considering the biological nature, seasonality and perishable characteristics of...

Anchoring effects refer to a phenomenon whereby people make absolute estimates by starting from an initial point (anchor value) and adjusting upwards or downwards to reach their final answers (target values). A number of studies have demonstrated that these adjustments are often insufficient...