The completion of a typical project hinges upon receiving all the purchased components by thetime they are scheduled to be used. Some of these components may have long stochastic leadtimes, so the project manager is tempted to order them ASAP, to avoid the (usual) high penaltiesassociated with...

Manufacturing management information systems are in arelatively less mature state than financial information systems.This difference in maturity is due in part, to historicalreasons, and to the complex and dynamic nature of manufacturingsystem attributes. This research compares the various...

The paper discusses the value of information when a numberof independent sources provide information related to acommon set of states of nature.The starting point is the Information Economic model ofInformation Structures. The model is augmented to representindependence of informational sources...

Spreadsheet programs and microcomputers have revolutionizedinformation processing in organizations. Users have adoptedspreadsheets to solve problems and circumvent the longdelays encountered in dealing with the traditionalinformation services department. A significant number ofserious errors...

Inventory Management has been widely discussed in theliterature. Recently, the so called quot;Just in TimeAtilde;cent;Acirc;not;Acirc;? methodreceived extensive publicity and was claimed to be one of themajor factors of the Japanese industrial success. This, in turn,promoted a large campaign in the...

This paper describes a model base Decision SupportSystem (DSS) for purchasing materials and componentsfor large projects. The DSS may be used under twoscenarios. Under one scenario, we have a project toexecute, and we are looking for a good way to managethe purchasing so as to minimize the...

Quality Control sampling plans are normally chosen by usingindustrial and military standards. These standards do notinvolve economic considerations, and usually fail to meet costconsiderations.The Information Economic approach presented in this papersuggests an easy to use methodology which...