A simple model is presented which allows us to determine the optimal size, fillup, and drawdown rates for a Strategic Petroleum Reserve (SPR) under a variety of supply and demand conditions. The optimal policy variables are determined by minimizing an analytic expression which we derive for the...

Detection of changes in hydrologic time series due to intervention by man or natural causes is an important problem. Although intervention analysis has been used in the recent past to analyze nonstationary hydrologic time series, the necessity to specify a model of change and an initial time at...

In this paper we develop an integrated stochastic model of purchase timing and brand selection which incorporates the influence of marketing mix variables, seasonality and trend, and also allows for various individual choice mechanisms. Our approach rests on the assumptions of a zero-order...

This paper considers a multi-stage, serial inventory system. The demand for the end item is stochastic and stationary. The relevant costs include a fixed ordering cost and an echelon inventory holding cost for each stage, and a backordering cost for the end item. The objective is to find a...

Consider a central depot (or plant) which supplies several locations experiencing random demands. Orders are placed (or production is initiated) periodically by the depot. The order arrives after a fixed lead time, and is then allocated among the several locations. (The depot itself does not...

Optimal solutions for the dynamic lot-sizing problem with deterministic demands but stochastic lead times are "lumpy." If lead time distributions are arbitrary except that they are independent of order size and do not allow orders to cross in time, then each order in an optimal solution will...

This paper cautions against using only the equilibrium distribution to describe the behavior of a queue. It is suggested that fluctuations in the queue-length process should also be described, for example, by various first-passage-time distributions. The range of possible fluctuations associated...

A method is developed to calculate an (s, S) policy that minimizes the average stationary cost in an inventory system with: constant lead time, fixed order cost, linear holding cost per unit time, linear penalty cost per unit short, discrete compound Poisson demand, and lost sales. It is assumed...