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...

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.

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,...

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 note we review some known minimax theorems with applications in game theory and show that these results form an equivalent chain which includes the strong separation result in finite dimensional spaces between two disjoint closed convex sets of which one is compact. By simplifying the...

In this note we give an elementary proof of the Fritz-John and Karush-Kuhn-Tucker conditions for nonlinear finite dimensional programming problems with equality and/or inequality constraints.The proof avoids the implicit function theorem usually applied when dealing with equality constraints and...

In this paper we analyse the optimal claim behaviour of a risk sensitive policy holder having a vehicle damage insurance. It is proved that the optimal decision is of the form: to claim for damages only if its amount exceeds a certain limit. Moreover, we also derive the optimal stopping rule to...

In this note we show that the strong duality theorem of an unconstrained (generalized) geometric programming problem as defined by Peterson (cf.[1]) is actually a special case of a Lagrangian duality result. Contrary to [1] we also consider the case that the set C is compact and convex and in...

Single-ratio and multi-ratio fractional programs in applications are often generalized convex programs. We begin with a survey of applications of single-ratio fractional programs, min-max fractional programs and sum-of-ratios fractional programs. Given the limited advances for the latter class...

Steel structures such as bridges, tanks and pylons are exposed to outdoor weathering conditions. In order to prevent them from corrosion they are protected by an organic coating system. Unfortunately, the coating system itself is also subject to deterioration. Imperfect maintenance actions such...