We derive stationary distributions of joint queue length and inventory processes in explicit product form for various M/M/1-systems with inventory under continuous review and different inventory management policies, and with lost sales. Demand is Poisson, service times and lead times are exponentially distributed. These distributions are used to calculate performance measures of the respective ...

This paper re-visits the Bayesian approach to test its efficacy in optimally designing the classical (s, Q) inventory model. A heuristic search of the unstructured (s, Q) decision space finds that one can indeed make a decent start by the Bayesian approach—and keep total cost nearly optimally low throughout.

A Robotic Mobile Fulfillment System is a recently developed automated, parts-topicker material handling system. Robots can move storage shelves, also known as inventory pods, between the storage area and the workstations and can continually reposition them during operations. This paper shows how to optimize three key decision variables: (1) the number of pods per product (2) the ratio of the nu...

The research presented in this paper is part of a larger study of the organizational impacts of information systems on knowledge work. The phase of the research reported in the paper explores current understanding of information systems implementation issues and asks whether it is adequate to effectively manage the wide range of IS that support knowledge work. Studies that have focused on syste...

We analyze a joint inventory and pricing model of a single product over a finite planning horizon with deterministic demand. In this model, an ordering quantity and a price are decided simultaneously at the beginning of each period, demand of the period depends on the price, and a price adjustment cost is incurred if the price is changed from the previous period. We develop polynomial time algo...

This study examines whether microfinance institutions (MFIs) that serve women borrowers at the base of the economic pyramid are likely to adopt a written code of positive organizational ethics (POE). Using econometric analysis of operational and economic data of a sample of MFIs from across the world, we find that two contextual factors—poverty level and lack of women’s empowerment—moderate the...

This paper presents a mathematical model for an inventory control system in which customers’ demands and suppliers’ service time are considered as stochastic parameters. The proposed problem is solved through queuing theory for a single item. In this case, transitional probabilities are calculated in steady state. Afterward, the model is extended to the case of multi-item inventory systems. The...

the primary purpose of this paper is to highlight for the research community and practitioners the various aspects of using vmi-type supply chains in today’s business environment as well as a number of directions for future studies. in this regard, fifty articles published in major international journals, beginning in 1995, which contribute to the vmi-type supply chains are reviewed via a syste...

In this paper we study Markov-modulated queues with and without jumps. These queueing models arise naturally in production-inventory systems with and without an external supplier. We show an interesting decomposition property that relates the equilibrium state distributions in these two systems, and present an integrated warranty-inventory management model as an application.

The textile and clothing industry generates much pollution and consumes a large amount of resources. Improper uses and disposal of clothing products make the problems much more severe. Fast fashion products shorten the valid lifecycle and generate more waste than regular clothing products. Considering the features of fashion products, a system of a rent-based closed-loop supply chain is develop...