In this paper, we propose an iterative approach to jointly solve the problems of tactical safety stock placement and tactical production planning. These problems have traditionally been solved in isolation, even though both problems operate in the same decision making space and the outputs of...

Purpose The internet-based transition is the major trend for Chinese organizations with increasing demands imposed on their organization and management. As the organizational structures gradually improve flexibility, employees desire respect and development to a greater degree, which has given...

Purpose – This paper aims to provide an in‐depth analysis of the economic, operational and strategic aspects of the Toyota recall crisis, as well as its implications for the global auto industry and its competitive dynamics in the future. Design/methodology/approach – The paper provided a...

Purpose: Geometric structure error of parabolic trough concentrator (PTC) frame affects the installation accuracy of mirrors and absorber tubes and thus decreases the solar energy concentrating efficiency. Until now, there is no effective method to instruct the assembly and regulation of PTC...

International trade, as a major factor of openness, has made an increasingly significant contribution to economic growth. Chinese international trade has experienced rapid expansion together with its dramatic economic growth which has made the country to target the world as its market. This...

We present two game theoretic models on resource allocation in epidemic control and waiting time competition in service management. The first model considers the drug allocation problem when facing the outbreak of an international influenza pandemic. The drugs are for prophylactic use. Since...

Both the UK spot and futures markets in short term interest rates are found to react strongly to surprises in the scheduled announcements of the repo rate and RPI. Therefore these announcements should also affect the market for options on short term interest rates. Because the repo rate and RPI...

The catalog industry is a large and important industry in the US economy. One of the most important and challenging business decisions in the industry is to decide who should receive catalogs, due to the significant mailing cost and the low response rate. The problem is a dynamic one - when a...

Traditional inventory models focus on risk-neutral decision makers, i.e., characterizing replenishment strategies that maximize expected total profit, or equivalently, minimize expected total cost over a planning horizon. In this paper, we propose a framework for incorporating risk aversion in...