This paper is concerned with a periodic-review inventory system with three consecutive delivery modes (fast, medium, and slow) and demand forecast updates. At the beginning of each period, the inventory level and demand information are updated and decisions on how much to order using each of the...

We consider the problem of a firm seeking to use personalized pricing to sell an exogenously given stock of a product over a finite selling horizon to different consumer types. We assume that the type of an arriving consumer can be observed but the demand function associated with each type is...

We study a joint assortment and inventory optimization problem faced by an online retailer who needs to decide on both the assortment along with the inventories of a set of N substitutable products before the start of the selling season to maximize the expected profit. The problem raises both...

We study a multi-item two-stage production system subject to Markov-modulated demands and production quantity requirements. The demand distribution for each item in each period is governed by a discrete Markov chain. The products are manufactured in two stages. In the first stage, a common...

The success of a product in today's global marketplace depends on capabilities of firms in the product's supply chain. Among these capabilities, effective inventory management is a capability necessary to lead in the global marketplace. The chapter provides a discussion of four fundamentals of...

Today many companies rely on computerized tracking of inventory. Although computerized inventory tracking is generally assumed to be accurate, in reality, actual on-hand inventory deviates from the inventory record, which distorts the replenishment process and compromises good inventory...