The mismatch between newsvendor theory and experimental observations has garnered significant attention in the literature; several theories have been developed to capture the observed behavior. Yet, there has been limited research on the implications of observed behavior, leaving both a...

Due to the trend towards decentralization and greater complexity in supply chains, companies are increasingly exposed to supply risks. Various strategies to mitigate supply risks have been developed using modeling- based approaches, including risk diversification by dual sourcing and direct...

This paper examines a grocery retailer’s management of a premade food product. The retailer’s goal is to maximize a weighted sum of direct profit and customer welfare. Multiple items of the product are produced in batches and displayed for sale. Considering that each item’s quality...