This paper considers a problem of multi-period supply portfolio selection and execution with demand information updates. A supply portfolio specifies a buyer’s decision on selecting sourcing mix from among a group of suppliers. We develop a framework for optimal supply portfolio selection and execution. Further, we demonstrate that the optimal portfolio selection follows a base-stock policy and...

We consider a two-echelon inventory system where the exogenous demands occur only at the retailer locations, and the demand rates are functions of an underlying continuoustime Markov chain. This underlying process may represent, for example, general economic conditions, the number of active users in the system, etcetera. Each retailer location follows a base-stock policy that is independent of ...

We find that the consumption risk of investors is lower in states that implement countercyclical fiscal policies. Moreover, firms whose investor base are concentrated in counter-cyclical states have lower stock returns, along with firms that relocate their headquarters to a countercyclical state. Therefore, counter-cyclical fiscal policies lower the consumption risk of investors and consequentl...

This paper is concerned with a periodic review inventory system with three consecutive delivery modes (fast, medium, and slow) and demand forecast updates. At the beginning of each period, the inventory level and demand information are updated, and decisions on how much to order using each of the three delivery modes are made. Both finite and infinite horizon problems are treated. Objectives co...

We show that a modified base-stock policy is optimal for multiproduct, infinite-horizon production-inventory systems, where demand for the products is random and the products share a finite resource every period. We characterize the optimal policy for the case of homogeneous products. Because of the difficulty in computing the optimal base-stock levels for the heterogeneous case, we propose a h...

We show the optimality of state dependent echelon base stock policies in uncapacitated serial inventory systems with Markov modulated demand and Markov modulated stochastic leadtimes in the absence of order crossing. Our results cover finite time horizon problems as well as infinite time horizon formulations, with either a discounted or an average cost criterion. We employ a novel approach, bas...

This article studies the value of leadtime information in a single-location inventory model with a Markovian leadtime process. The optimal strategy under complete leadtime information (i.e., the leadtime state is observable) is a base-stock policy with the order-up-to level dependent on the leadtime state. The optimal base-stock level for each leadtime state can be computed in an iterative mann...

We show the optimality of state-dependent echelon base-stock policies in uncapacitated serial inventory systems with Markov-modulated demand and Markov-modulated stochastic lead times in the absence of order crossing. Our results cover finite-time horizon problems as well as infinite-time horizon formulations, with either a discounted or an average cost criterion. We employ a novel approach, ba...

We consider a periodic-review single-location single-product inventory system with lost sales and positive replenishment lead times. It is well known that the optimal policy does not possess a simple structure. Motivated by recent results showing that base-stock policies perform well in these systems, we study the problem of finding the best base-stock policy in such a system. In contrast to th...

the aim of this research is the investigation the relationship between the capital structure and institutional ownership mid to the other effective factors on this relation in tehran stock exchange. the others factors include the percentage of stock dividend, profitability, business risk, assets structure, liquidity, growth, and company size. the statistical population of the research is 117 li...