We consider the problem of determining the optimal ordering and reordering policy for an inventory where the entire stockwill simultaneously become obsolete at some (typically random) time, T . Manymanufacturing, publishing, distribution, and high tech businesses face the challenge of maintaining inventories that do not age in the conventional sense; instead, they suddenly become obsolete and l...

This paper examines the cost-reduction effect of “postponed” routing decisions in a two-echelon supply chain. When a delivery vehicle leaves the warehouse with system replenishment quantities, it sequentially makes routing decisions to choose the next retailer to visit. To measure this effect this paper studies combined vehicle routing and inventoryallocation policies designed to minimize total...

In this paper, a multi-item inventory model with space constraint is developed in both crisp and fuzzy environment. A profit maximization inventory model is proposed here to determine the optimal values of demands and order levels of a product. Selling price and unit price are assumed to be demand-dependent and holding and set-up costs sock dependent. Total profit and warehouse space are consid...

In this paper, an EOQ inventory model is depleted not only by time varying demand but also by Weibull distribution deterioration, in which the inventory is permitted to start with shortages and end without shortages. A theory is developed to obtain the optimal solution of the problem; it is then illustrated with the aid of several numerical examples. Moreover, we also assume that the holding co...

This paper examines the interactions between routing and inventory-management decisions in a two-level supply chain consisting of a cross-docking warehouse and N retailers. Retailer demand is stochastic; i.e., normally distributed and independent across retailers and over time. Travel times are fixed between pairs of system sites. Every m time periods, system inventory is replenished at the war...

OBJECTIVES To develop a valid and reliable active-learning inventory tool for use in large classrooms and compare faculty perceptions of active-learning using the Active-Learning Inventory Tool. METHODS The Active-Learning Inventory Tool was developed using published literature and validated by national experts in educational research. Reliability was established by trained faculty members wh...

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We consider a joint inventory-pricing problem in which buyers act strategically and bid for units of a firm’s product over an infinite horizon. The number of bidders in each period, as well as the individual bidders’ valuations, are random but stationary over time. There is a holding cost for inventory and a unit cost for ordering more stock from an outside supplier. Backordering is not allowed...

Unexpected system failures pose significant problems in power industry and most manufacturing companies. In some cases, a critical component failure can incur catastrophic events and huge economic loss. To maintain machines at high level of reliability, some companies perform time-based preventive maintenance or age-based preventive maintenance to avoid sudden failure of machines. Usually, prev...

Hypotheses are tested that ways of handling anger and their consequences will differ in student samples drawn from dignity cultures (UK and Finland), honor cultures (Turkey and Pakistan) and face cultures (Hong Kong and China). In line with our hypotheses, holding anger in and controlling anger correlate positively in face cultures but not in other samples, whereas holding anger in and letting ...