This note provides the methodology to construct a set of indifference curves that permit the exact determination of the optimal inventory level in a system where items are restocked one at a time and unsatisfied demand is lost. An illustrative set of curves is shown.

We consider the situation of a single item having a deterministic, time-varying demand pattern. Production lot sizes, so as to minimize the total of setup and carrying costs, are to be determined subject to production capacity restrictions that can vary with time. Two important theorems...

In this article a challenge is provided to the operations management community to broaden our perspective from the traditional, functional one to the cross-functional (interdisciplinary) view of process management. At the same time, the challenge is to de-emphasize mathematical optimization and...