In this note, we analyze investment priorities for setup-reduction programs in a multi-product system. We provide an objective function transformation for the model developed by Porteus (Porteus, E. L. 1985. Investing in reduced setups in the EOQ model. Management Sci. 31(8, August) 998--1010.)...

In high-mix, low-volume production, assigning jobs to parallel machines is an important operation management decision. In manufacturing environments with disruptive unplanned events, reactive job-machine assignment is common in practice but has received little research attention. In this paper,...

Correlation matrices have many applications, particularly in marketing and financial economics - such as in risk management, option pricing and to forecast demand for a group of products in order to realize savings by properly managing inventories, etc. Various methods have been proposed by...

We present a method of calculating the maximal eigenvalue of an indecomposable nonnegative matrix, which is based on ideas of geometric programming. In addition to that, we obtain estimates for elements of an indecomposable nonnegative matrix by its spectral radius. The results make it possible...