We study supply function competition among conventional power generators with different levels of flexibility. Inflexible generators commit production before uncertainties are realized, while flexible generators can adjust their production after uncertainties are realized. Both types of...

We consider a firm (e.g., retailer) selling a single nonperishable product over a finite-period planning horizon. Demand in each period is stochastic and price-dependent, and unsatisfied demands are backlogged. At the beginning of each period, the firm determines its selling price and inventory...

We consider a periodic-review inventory control problem for the Multi-Warehouse Multi-Store system with lost sales. We focus on a time horizon during which the system receives no external replenishment. Specifically, each warehouse has a finite initial inventory at the beginning of the horizon,...

We consider an inventory control problem with multiple products and stockout substitution. The firm knows neither the primary demand distribution for each product nor the customers' substitution probabilities between products a priori, and needs to learn such information from sales data on the...

We consider a joint pricing and inventory control problem in which the customer's response to selling price and the demand distribution are not known a priori. Unsatisfied demand is lost and unobserved, and the only available information for decision-making is the observed sales data (a.k.a....

We consider a classic periodic-review perishable inventory system with a fixed product lifetime and zero replenishment lead time under a first-in-first-out issuance policy. Unsatisfied demand can be either lost or backlogged. The objective is to minimize the long-run average holding, penalty and...

Few papers have explored the optimal reserve prices in the name-your-own-price (NYOP) channel with bidding options in a multiple channel environment. In this paper, we investigate a double-bid business model in which the consumers can bid twice in the NYOP channel, and compare it with the...

The value of seasonal energy storage depends on how the firm best operates the storage to capture the seasonal price spread. Energy storage operations typically face limited operational flexibility characterized by the speed of storing and releasing energy. A widely used practice-based...

Frequently, manufacturers experience supply disruptions due to supplier bankruptcies. Manufacturers can increase supplier reliability by providing suppliers subsidies in excess of suppliers' production costs. We examine the optimal subsidy decisions of manufacturers in four supply chain...