Clearance pricing and end of season inventory management are challenging and important problems in retailing. Sales rates depend upon price, seasonal effects, and the remaining assortment of items available to customers. There is little time to react to observed sales, and pricing errors result...

A formulation is presented for obtaining the optimal kit of parts and tools for on-site equipment repairs, based on the fraction of jobs which can be completed from the contents of the kit. This formulation generalizes previous approaches in that part demands need not be independent and various...

The reliability of a single stage production-storage system in meeting a constant known demand is analyzed. This system consists of a production facility subject to stochastic failure and repair processes and a storage facility of fixed capacity. When operable, the production facility is assumed...

This paper considers the problem of finding optimal stock levels for an inventory system with Poisson demands, arbitrary replacement time distribution, and emergency handling of shortages at a premium cost. The ordering policy is assumed to be of the (S - 1, S) type, i.e., a replacement item is...

Erratum to "Reliability and Inventory in a Production-Storage System", Management Sci. 25 (8) (1979) 799--807.

A model is formulated for optimizing multi-item inventories for repair of field equipment based on holding costs and the probability of job completion without stockout. This results in a different type of objective function from those found in most inventory problems in that the contributions of...

This paper considers the problem of allocating personnel to provide service that involves travel to demand locations distributed over a geographical area. Assuming that each individual server will be responsible for demand in a certain territory on a first come first served basis, formulas are...

In this paper, we consider multi-item inventory systems that contain repair kits of spare parts and tools and may include an inventory of spare machines as well. Demands occur in the form of field repair jobs, each requiring some collection of parts and tools for completion. If any required part...

This paper considers a retailer inventory system with N first-echelon stores and a single second-echelon distribution center (DC). Customer demands at the stores are assumed to be random. When a stockout occurs, customers are willing to wait for their order to be filled with a known probability....

This note provides the methodology to construct a set of indifference curves that permit the exact determination of the optimal inventory level in a system where items are restocked one at a time and unsatisfied demand is lost. An illustrative set of curves is shown.