We consider a single-product periodic-review inventory system for a retailer who has adopted a dual sourcing strategy to cope with potential supply process interruptions. Orders are placed to a perfectly reliable supplier and/or to a less reliable supplier that offers a better price. The success...

After more than 20 years of extensive study, the policy of pooling lead-time risk by simultaneously splitting replenishment orders among several suppliers continues to attract the attention of researchers. A critical review of the extant literature is conducted. Important and persistent...

The majority of reverse auctions for procurement use a single-attribute (price) format while providing constraints on nonprice attributes such as quality and lead time. Alternatively, a buyer could choose to conduct a multiattribute auction where bidders can specify both a price and levels of...

The standard treatment of fill rate relies on stationary and serially independent demand over an infinite horizon. Even if demand is stationary, managers are held accountable for performance over a finite horizon. In a finite horizon, the fill rate is a random variable. Studying the distribution...