We consider a firm that periodically procures raw material units, stores them, and processes them into finished products upon order arrivals. The raw material cost evolves in a Markovian fashion, whereas the demand process is influenced by both the raw material cost and sales prices charged by the firm. The firm controls both the raw material procurement activity and sales price in each period....

Intelligent Material Management System, IMMS, was developed in a collaboration between Lyngsoe Systems, commercial company, and public libraries Aarhus Copenhagen, Denmark, with the aim to reduce time staff spend on managing library materials. The of this article is shed light what IMMS means for practices hence librarian profession. Two research questions will guide analysis: How do librarians...