Investors typically measure an asset’s potential to diversify a portfolio by its correlations with the portfolio’s other assets, but correlation is useful only if it provides a good estimate of how an asset’s returns co-occur cumulatively with the other asset returns over the investor’s...

This paper develops a new method for computing the stationary distribution and steady-state performance measures of stochastic systems that can be described as a continuous-state Markov chain supported on R. The balance equations are solved by constructing a proxy Markov chain with finite...

Single-period dynamic assortment planning involves the retailer's decision of selecting a set of products to offer and determining their initial inventory levels, considering stochastic demand and dynamic substitution. The objective is to maximize the expected revenue, subject to a capacity...

We present a new mixed-integer program for a multi-depot, multi-vehicle capacitated location-allocation routing problem (LARP). The model simultaneously selects the locations of facilities, allocates customers to the intermediate facilities, and identifies the optimal number of capacitated...

Large e-commerce retailers and department stores function as marketplaces for millions of sellers, and consumers rely on the platform's assortment and display decisions to examine different sellers and make purchase decisions. Traditionally, the primary objective of these marketplaces for...

Cardinality constrained mean-variance (CCMV) portfolio selection problem is commonly formulated as a mixed integer quadratic program (MIQP) that can be solved by a branch-and-bound scheme or metaheuristics. Yet, computational efficiency remains to be a major issue. In this study, we propose a...

The Weapon-Target Assignment (WTA) problem seeks to compute an optimal assignment of m weapons to n targets such that the expected total survival possibility of the targets is minimized (or equivalently, the expected total damage of the targets is maximized). The WTA problem is known to be...

The complex structure of modern supply chains (SC) and their tendency towards globalisation have increased their exposure to unpredictable events. For companies to sustain their competitive advantage, establishing resilient SC has become a concern over the years, and now with the current...

This paper presents a methodology for the incorporation of poverty related concepts into the goal programming paradigm. The concepts of poverty line, absolute poverty and relative poverty are discussed in the context of their potential usage in the field of Operations Research. The synergy...

This paper focuses on a novel approach to cold chain management of perishable products. We extend the classical and frequently applied Economic Order Quantity model (EOQ) for its application in multi-echelon supply chains for highly perishable products. Literature shows that order-level...