This paper introduces recent developments in the analysis of inventory systems with partial observations. The states of these systems are typically conditional distributions, which evolve in infinite dimensional spaces over time. Our analysis involves introducing unnormalized probabilities to...

We develop variations of the M|G|1 queue to model the process of software maintenance within organizations and use these models to compute the optimal allocation of resources to software maintenance. User requests are assumed to arrive following a Poisson process and a binomial distribution is...

A model of new-product adoption is proposed that incorporates price and advertising effects. An optimal control problem that uses the model as its dynamics is solved explicitly to obtain the optimal price and advertising effort over time. The model has a great potential to be used in obtaining...

Many infinite-horizon optimal control problems in management science and economics have optimal paths that approach some stationary level. Often, this path has the property of being the nearest feasible path to the stationary equilibrium. This paper obtains a simple multiplicative...

This article is an attempt to survey the vast literature on flexibility in manufacturing that has accumulated over the last 10 to 20 years. The survey begins with a brief review of the classical literature on flexibility in economics and organization theory, which provides a background for...

This paper considers the case of partially observed demand in the context of a multi-period inventory problem with lost sales. Demand in a period is observed if it is less than the inventory level in that period and the leftover inventory is carried over to the next period. Otherwise, only the...

Green product design is an effective instrument for achieving a circular economy. Topromote green product development, downstream retailers often enter into contracts with upstreammanufacturers and market green products. This study considers a decentralized green product supply chain comprising...

This paper studies the issue of coordinating equipment maintenance operations with capital investment strategy in the presence of random equipment failures. This problem represents an important extension of the celebrated Kamien and Schwartz (KS) paper published in Management Science. The...

We examine an oligopoly model of advertising competition where each firm's market share depends on its own and its competitors' advertising decisions. A differential game model is developed and used to derive the closed-loop Nash equilibrium under symmetric as well as asymmetric competition. We...

This paper analyzes the tradeoff between (demand) substitution costs and (production) changeover costs in a discrete-time production-inventory setting using a two-product dynamic lot-sizing model with changeover, inventory carrying, and substitution costs. We first show that the problem is...