A new multi-objective approach for the cell formation problem in a lumpy demand environment is presented. The objectives addressed in this paper are grouping efficiency and capacity requirements. In lumpy demand the required capacity is affected by demand variability and the correlation between...

This paper presents a stochastic opinion dynamics model where (a) the opinion of each agent in a network is modeled as a probability distribution as against a point object, (b) consensus is defined as the stability region of the ensuing set of stochastic difference equations, and (c) compromise...

In this paper, we quantify the effects that product stock-outs led consumer dissatisfactions have on consumer behavior. The study yields a practical solution that retailers could use to determine how a representative consumer is likely to respond to a stock-out situation and hence be proactive...

This paper presents a mathematical model for jointly optimizing base stock levels for the multiple items subject to service level goals. The proposed model uses the expected demand and substitution probabilities between products as inputs and has been used to analyze the effects of demand...

This article presents the relationship between a firm’s advertisement spending and sales in a duopoly when information about the competitors’ advertisement spending is unavailable. The competitive interaction between the firms has been modeled as imperfect information Cournot and Stackelberg...