W consider a newsvendor who dynamically updates her forecast of the market demand over a finite planning horizon. The forecast evolves according to the martingale model of forecast evolution (MMFE). The newsvendor can place multiple orders with increasing ordering cost over time to satisfy demand that realizes at the end of the planning horizon. In this context, we explore the trade-off between...

We consider an economic lot-sizing problem with a special class of piecewise linear ordering costs, which we refer to as the class of modified all-unit discount cost functions. Such an ordering cost function represents transportation costs charged by many less-thantruckload carriers. We show that even special cases of the lot-sizing problem are NP-hard and therefore analyze the effectiveness of...

W introduce and analyze a model that explicitly considers the timing effect of intertemporal pricing— the concept, found in practice, that demand during a sale is increasing in the time since the last sale. We present structural results that characterize the interaction between the decision to hold a sale and the inventory-ordering decision. We show that the optimal inventory-ordering policy is...

Adaptive base stock policy is a well-known tool for managing inventories in non-stationary demand environments. This paper presents empirical tests of this policy using aggregate, firmlevel data. First, we extend a single-item adaptive base stock policy in previous literature to a multi-item case. Second, we transform the policy derived for the multi-item case to a regression model that relates...

 In this paper, optimum procurement policy is worked out when trade credit is offered to the retailer by the supplier and demand is stock-dependent. The own warehouse (OW) capacity is limited and excess inventory is stored in rented warehouse (RW). The rented warehouse has modern infra-structure facility. Hence, the unit holding cost in rented warehouse is assumed to be higher than that in the...

In this paper we develop an inventory model, to determine the optimal ordering quantities, for a set of two substitutable deteriorating items. In this inventory model the inventory level of both items depleted due to demands and deterioration and when an item is out of stock, its demands are partially fulfilled by the other item and all unsatisfied demand is lost. Each substituted item incurs a...

A bstract The inventory control of repair parts has recently become an important subject in rationalizing logistics department. Information network systems for repair parts are being constructed. The purpose of this study is to propose a fixed interval ordering policy for repair parts of single item and clarify its effects. The proposed policy specifically takes into account the characteristic ...

We survey the inclusion of interferometric elements in nonlinear spectroscopy performed with quantum light. Controlled interference electromagnetic fields coupled to matter can induce constructive or destructive contributions microscopic coupling sequences (histories) matter. Since do not commute, light signals are sensitive order light-matter sequence. Matter correlation functions thus imprint...

We study the joint inventory and sales effort management problems of a retailer in a broad context and investigate the optimal policies for a single item, periodic-review system. In each period, the demand is uncertain depending on the sales effort level exerted by the retailer, which incurs an associated cost. The retailer’s objective is to find a joint optimal inventory replenishment and sale...