Milner, Joseph M.; Kouvelis, Panos - In: Manufacturing & Service Operations Management 4 (2002) 2, pp. 99-113
We study the value of information, production flexibility, and supplier flexibility for a good for which an initial and a subsequent order may be placed. We consider a Bayesian model of demand in which the unknown mean demand rate is assumed to have a prior, which is a mixture of two normal...