The selection of projects from a set of possible alternatives is a key decision in any organization. However, all entities that allocate resource budgets across several projects and initiatives face the same fundamental problem: to select the most valuable projects given a finite budget. The...

Companies innovating in dynamic environments face the combined challenge of unforeseeable uncertainty (the inability to recognize the relevant influence variables and their functional relationships; thus, events and actions cannot be planned ahead of time) and high complexity (large number of...

Burke, Carillo and Vakharia [2009] consider a class of single product sourcing problems with a stochastic demand and multiple uncertain suppliers. Assuming that the demand is independent of the supplier reliabilities and uniformly distributed, they propose to write the expected profit as a...

We study a single product two-period production/inventory model, in which the demands at each period are independent random variables. To optimally satisfy these random demands, quantities can be produced at the beginning of each period using slow or fast production mode, under capacity...

Burke, Carillo and Vakharia [2009] consider a class of single product sourcing problems with a stochastic demand and multiple uncertain suppliers. Assuming that the demand is independent of the supplier reliabilities and uniformly distributed, they propose to write the expected profit as a...

We consider a class of multi-periodic non-stationary stochastic single-product inventory planning problems where two procurement modes can be used at each period: a first order with immediate delivery and a second order with a single-period delivery delay. Clearly, the slow delivery mode is less...