Beckmann [1] and Mills [7] consider production smoothing problems in which demands are random variables. This paper generalizes and extends Beckmann's results which predicate backlogging of excess demand. Convex expected holding and penalty cost functions pertain to inventory and the cost of...

We model a firm's decisions about product innovation, focusing on the extent to which features should be improved or changed in the succession of models that comprise a life cycle. We show that the structure of the internal and external environment in which a firm operates suggests when to...

The queuing models constructed here have the feature that a service facility tends to lose its customers if they often encounter lengthy delays. Structurally, the arrival processes are assumed to depend on past waiting times, hence on past arrival and service processes. The cases investigated...

We consider the problem of periodically choosing production quantity and manufacturing capacity with the latter constraining the former. It is assumed that capacity can be altered at a cost that is proportional to the amount of change and that other capacity costs are proportional to the...

We consider nonstationary deterministic production smoothing problems with coats for starting and halting production. Inventory holding costs and production costs are assumed to be concave. The algorithms developed for optimal policies exploit known features of the economic lot size problem.

Many owners of growing privately held firms make operational and financial decisions in an effort to maximize the expected present value of the proceeds from an initial public offering (IPO). We ask: ÜWhat is the right time to make an IPO?Ý and ÜHow should operational and financial decisions...

In an earlier paper [5], we generalized and extended Beckmann'a results [1] for a production and inventory problem with proportional smoothing costs and demands being random variables. Our previous results concerned the finite horizon nonstationary case. Here we consider the infinite horizon...