Classic inventory models use average cost functions. It is generally accepted that these models should account for the time value of money. They do so not by considering the timing of cash-flows, but by including opportunity costs. The Net Present Value (NPV) framework has long been used to...

The adoption of management science models has typically been studied in time frames of less than two years. Recommendations of government decisionmakers for improving the likelihood of successful model development, diffusion, and adoption have been based on these studies. Yet some factors...

Numerous quantitative planning models have been developed and successfully applied to facilitate the solutions of relatively well-structured problems. Unfortunately, qualitative models and techniques, particularly those applicable to ill-structured problems, are less well developed. One...