We consider the price-setting newsvendor model where the ordering and pricing decisions have to be made at the beginning of a selling period before demand is realized. Unsatisfied demand is lost and excess inventory has to be salvaged. The standard approach is to assume stochastic demand to be...

Claims that existing literature on concepts such as lean production, just‐in‐time, and total quality management theory fails to address adequately critical aspects of the organizational realities of such innovations. Presents a new concept called “new wave manufacturing” in order to...