We consider the problem of determining (for a short lifecycle) retail product initial and replenishment order quantities that minimize the cost of lost sales, back orders, and obsolete inventory. We model this problem as a two-stage stochastic dynamic program, propose a heuristic, establish...

When making lot-sizing decisions, managers often use a model horizon T that is much smaller than any reasonable estimate of the firm's future horizon. This is done because forecast accuracy deteriorates rapidly for longer horizons, while computational burden increases. However, what is optimal...

In traditional supply chain inventory management, orders are the only information firms exchange, but information technology now allows firms to share demand and inventory data quickly and inexpensively. We study the value of sharing these data in a model with one supplier, N identical...

Product variety in many industries has increased steadily throughout this century. Component sharing---using the same version of a component across multiple products---is increasingly viewed by companies as a way to offer high variety in the marketplace while retaining low variety in their...

Component sharingÔusing the same version of a component across multiple productsÔis an approach adopted by many assembled-product manufacturers to achieve high final product variety with lower component variety and cost. This paper presents a methodology for determining which versions of a set...

Isuggest that the prospering fields of physics, medicine, and finance illustrate the value of a strong empirical dimension to research that is well integrated with theoretical research. I use empirical research in these fields to formulate a framework for classifying empirical research and...

No abstract available.

We consider a competitive version of the traditional aggregate production planning model with capacity constraints. In the general case, multiple products are produced by a few competing producers (oligopoly) with limited capacities. Production quantities, prices and consequently profits depend...