Many forecasting methods perform poorly in the case of intermittent demand patterns and high variances in the demand quantity. Strong fluctuations within the time series and a large proportion of zero observations complicate the extraction of trend and seasonality. This research investigates how...

Resource allocation is a relatively new research area in survey designs and has not been fully addressed in the literature. Recently, the declining participation rates and increasing survey costs have steered research interests towards resource planning. Survey organizations across the world are...

In this paper we consider a single-item inventory system with lost sales and fixed order cost. We numerically illustrate the lack of a clear structure in optimal replenishment policies for such systems. However, policies with a simple structure are preferred in practical settings. Examples of...

We study appointment scheduling problems in continuous time. A finite number of clients are scheduled such that a function of the waiting time of clients, the idle time of the server, and the lateness of the schedule is minimized. The optimal schedule is notoriously hard to derive within...

Purpose – The purpose of this paper is to study the optimal pricing problem that retailers are challenged with when dealing with seasonal products. The friction between expected demand and realized demand creates a risk that supply during the season is not cleared, thus forcing the retailer to...

This paper provides series expansions of the stationary distribution of a finite Markov chain. This leads to an efficient numerical algorithm for computing the stationary distribution of a finite Markov chain. Numerical examples are given to illustrate the performance of the algorithm.