Quantitative models and computer-based tools are essential for making decisions in today's business environment. These tools are of particular importance in the rapidly growing area of supply chain management. This volume is a unified effort to provide a systematic summary of the large variety...

We consider a heuristic for serial production systems with random yields and rigid demand: all usable units exiting a stage move forward. We calculate optimal lots and corresponding expected costs for binomial, interrupted-geometric, and all-or-nothing yields. Our method is that it makes it easy...

We consider partially observed Markov decision processes with control limits. We analytically show how the finite-horizon control limits are non-monotonic in (a) the time remaining and (b) the probability of obtaining a conforming unit. We also prove that the infinite-horizon control limit can...