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Towards a Heuristic Theory of Problem Structuring

Smith, Gerald F. - In: Management Science 34 (1988) 12, pp. 1489-1506

methodologies are assessed and an approach pertinent to real world, managerial problems is proposed. …

Persistent link: https://www.econbiz.de/10009191807

Robust Storage Assignment in Unit-Load Warehouses

Ang, Marcus; Lim, Yun Fong; Sim, Melvyn - In: Management Science 58 (2012) 11, pp. 2114-2130

Assigning products to and retrieving them from proper storage locations are crucial decisions in minimizing the operating cost of a unit-load warehouse. The problem becomes intractable when the warehouse faces variable supply and uncertain demand in a multiperiod setting. We assume a...

Persistent link: https://www.econbiz.de/10010990519

Asymptotic Optimality of Order-Up-To Policies in Lost Sales Inventory Systems

Huh, Woonghee Tim; Janakiraman, Ganesh; Muckstadt, John A. - In: Management Science 55 (2009) 3, pp. 404-420

We study a single-product single-location inventory system under periodic review, where excess demand is lost and the replenishment lead time is positive. The performance measure of interest is the long-run average holding cost and lost sales penalty cost. For a large class of demand...

Persistent link: https://www.econbiz.de/10009191251

A Note on Variance Reducing Group Maintenance Policies

Wilson, John G. - In: Management Science 42 (1996) 3, pp. 452-456

Group replacement policies for machines operating in parallel are generally evaluated by computing the associated expected cost per unit time. However, as with all stochastically evolving systems, variance should play an important managerial role. No matter which policy is used by the...

Persistent link: https://www.econbiz.de/10009191608

An Empirical Analysis of Process Industry Transformation Systems

Dennis, Daina; Meredith, Jack - In: Management Science 46 (2000) 8, pp. 1085-1099

Process industries share many characteristics because their transformation systems are designed for nondiscrete materials. Hence, the process industries typically are lumped together in a general group and contrasted from the discrete industries as a whole. The result is a poor understanding of...

Persistent link: https://www.econbiz.de/10009197483

Optimal Commodity Trading with a Capacitated Storage Asset

Secomandi, Nicola - In: Management Science 56 (2010) 3, pp. 449-467

This paper considers the so-called warehouse problem with both space and injection/withdrawal capacity limits. This is a foundational problem in the merchant management of assets for the storage of commodities, such as energy sources and natural resources. When the commodity spot price evolves...

Persistent link: https://www.econbiz.de/10009197805

Competition in Multiechelon Assembly Supply Chains

Carr, Scott M.; Karmarkar, Uday S. - In: Management Science 51 (2005) 1, pp. 45-59

are grouped into homogenous sectors (nodes) that contain identical firms with identical production capabilities that all … produce its product, and these inputs are supplied by different sectors. The production process within any sector is taken to … product is assumed to be linear, as are production costs in all sectors. Competition is modeled via a Ücoordinated successive …

Persistent link: https://www.econbiz.de/10009197945

Economic Models for Vendor Evaluation with Quality Cost Analysis

Tagaras, George; Lee, Hau L. - In: Management Science 42 (1996) 11, pp. 1531-1543

Successful vendor-vendee relationship is viewed as an important ingredient for maintaining competitiveness in the current marketplace. This calls for a careful and comprehensive approach in selecting vendors. The cost of quality (or better phrased as the cost of "unquality") resulted from...

Persistent link: https://www.econbiz.de/10009198130

Price Versus Production Postponement: Capacity and Competition

Mieghem, Jan A. Van; Dada, Maqbool - In: Management Science 45 (1999) 12, pp. 1639-1649

firms make three decisions: capacity investment, production (inventory) quantity, and price. Typically, investments are made … investment decision of the firm and its value. In contrast to production postponement, price postponement makes the investment … and production (inventory) decisions relatively insensitive to uncertainty. This suggests that managers can make optimal …

Persistent link: https://www.econbiz.de/10009198232

File and Work Transfers in Cyclic Queue Systems

Sarkar, D.; Zangwill, W. I. - In: Management Science 38 (1992) 10, pp. 1510-1523

A cyclic queue has one server and n nodes, where each node has its own distinct type of customers that arrive from the outside. The server visits the nodes cyclically, serving the customers first at node 1, then at node 2, and so on through node n, and then repeating from node 1 again. Setup...

Persistent link: https://www.econbiz.de/10009204036