Motivated by a recent paper on the effect of lead-time variability reduction on safety stocks, we provide evidence of the recursive nature of safety stock changes. When lead times follow a gamma distribution we demonstrate that, for cycle service levels between .60 and .70, the reduction of lead-time variability will first increase safety stock and then either recursively decrease safety stock ...

Abstract. This paper describes how a state emerges and collapses that makes it possible for citizens to do something which they will not voluntarily. The model is the generalisation of Okada and Sakakibara (1991): people may may voluntarily make a state, or a compulsory rule that force themselves to construct and maintain the public capital stock. The novelty of this paper lies in the assumptio...

Motivated by practices in modern supply chains, we consider capacity-inventory joint management for a make-to-stock manufacturing system operating under a base stock policy. The production facility is modeled as multiple servers operating in parallel. The number of servers corresponds to the capacity decision and the base stock level is the inventory decision. The main problem which we consider...

Investors and other contributors to stock exchange need a variety of tools, measures, and information in order to make decisions. One of the most common tools and criteria of decision makers is price-to earnings per share ratio. As a result, investors are in pursuit of ways to have a better assessment and forecast of price and dividends and get the highest returns on their investment. Previous ...

The use of intelligent systems for stock market predictions has been widely established. This paper deals with the application of hybridized soft computing techniques for automated stock market forecasting and trend analysis. We make use of a neural network for one day ahead stock forecasting and a neuro-fuzzy system for analyzing the trend of the predicted stock values. To demonstrate the prop...

We are most grateful for the comments made by Earl (2014) on our paper, Frey and Gallus (2014). In particular, we are pleased that we can fully agree on the fundamental point we wanted to make: decisions by individuals (as well as by organizational units) do not map directly and in an unchanged way to the macro level. Rather, the aggregation process linking the microand the macro-level must be ...

In 1937, Ronald Coase argued that firms will exist only in environments in which firms perform better than markets could. To create space for firms, Coase suggested that some environments might be plagued by “transaction costs” that cause markets to perform poorly. Coase’s paper was to become the cornerstone of the economic theory of the firm (i.e., the “make or buy” decision: which activities ...

This paper proposes and evaluates a model of supply chains as networks of auctions. In this model, companies are represented according to the first level of the Supply Chain Council’s SCOR model and the trading strategy of the agents is adapted from a model proposed by Steiglitz and colleagues. Specifically, the highest level of SCOR treats a company as comprising three functions, namely Source...

The present study aims to investigate the association between political connections and related-party transactions for the firms listed on the Tehran Stock Exchange (TSE). Sample includes the 485 firm-year observations from companies listed on the Tehran Stock Exchange during the years 2013 to 2017 and research hypothesis was tested using multivariate regression model based on panel data.We fin...

Stock market prediction is an important area of financial forecasting, which is of great interest to stock investors, stock traders and applied researchers. To determine the buy and sell time is one of the most important issues for investors in stock market. In this paper, a fuzzy approach using the famous candlestick method to stock market timing is investigated. Drawing candlesticks are very ...