A logarithmic advertising model is posed and solved for an optimal dynamic advertising policy for both finite and infinite horizon cases by using optimal control theory. In the case of the infinite horizon, the optimal long-run stationary equilibrium rate of advertising is obtained. It is shown...

The Lydia-Pinkham data is analysed using a recently developed system identification algorithm. For an observed time series this yields an estimate of the process impulse response which we argue is a more robust modeling device than the traditional autoregressive moving average model for...

In this paper, we develop a rigorous new framework for the concepts of forecast and decision horizons. These concepts are conditional in nature and, in turn, enable us to unify the existing concepts of “strong” and “weak” horizons. Moreover, we are able to precisely state the question of...

Capacity expansion is the process of providing new facilities over time to meet rising demand. A general mathematical model of this process is presented, incorporating uncertain future demand (including the possibility of 'surprises'), non-zero lead times and random cost overruns. In this model...

Scheduling n jobs in an m machine flowshop is considered in order to minimize the sum of job completion times. Heuristic procedures for solving such problems are developed and the solutions are compared against optimal solutions for smaller size problems. For larger problems, solutions obtained...

This paper presents an asymptotic analysis of hierarchical production planning in a manufacturing system with two tandem machines that are subject to breakdown and repair. The buffer between the two machines is assumed finite. Therefore, the number of parts in that buffer needs to be...

This paper presents an asymptotic analysis of hierarchical production planning in a manufacturing system with serial machines that are subject to breakdown and repair, and with convex costs. The machines capacities are modeled as Markov chains. Since the number of parts in the internal buffers...

Wholesale price contracts are widely studied in a single supplier-single retailer supply chain, but without considering an outside market where the supplier may sell if he gets a high enough price and the retailer may buy if the price is low enough. We fill this gap in the literature by studying...

Alternative machines assignment, machine sharing, and inter-cell movements are very common yet difficult to be solved integratedly in modern dynamic Cellular Manufacturing Systems (CMS). In this paper, we incorporate these issues and consider a dynamic cellular scheduling problem with flexible...