In the classical newsvendor model, when demand is represented by the normal distribution singly truncated at point zero, the standard optimality condition does not hold. Particularly, we show that the probability not to have stock-out during the period is always greater than the critical...

In the current paper we study a real life inventory problem whose operating conditions match to the principles of the classical newsvendor model. Applying appropriate tests to the available sample of historical demand data, we get the sufficient statistical evidences to support that daily demand...

Three estimation policies for the optimal order quantity of the classical newsvendor model under exponential demand are evaluated in the current paper. According to the principle of the first estimation policy, the corresponding estimator is obtained replacing in the theoretical formula which...

In this paper we consider the classical newsvendor model with profit maximization. When demand is fully observed in each period and follows either the Rayleigh or the exponential distribution, appropriate estimators for the optimal order quantity and the maximum expected profit are established...

Demand patterns for products with seasonality and or short life-cycles do not follow a clear discernible pattern (to allow predictive time-series modeling of demand) for individual sales events or seasons due to such factors as considerable demand volatility, product promotions, and unforeseen...

Demand patterns for products with seasonality and or short life-cycles do not follow a clear discernible pattern (to allow predictive time-series modeling of demand) for individual sales events or seasons due to such factors as considerable demand volatility, product promotions, and unforeseen...

This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...

В статье основное внимание уделяется построению стохастического уравнения для расчета производственного цикла изготовления партии изделий на предприятиях с...

The method of calculating the duration of the production cycle for manufacturing a batch of parts is considered. The production cycle of manufacturing the batch of parts is one of the main characteristics of the production system. It is used to calculate the important indicators of planning the...

This paper explores the link between the presence of unions in the workplace, the adoption of decentralized labor agreements and technical efficiency, using a large sample of Italian manufacturing firms. We apply the Data Envelopment Analysis, and its robust version based on bootstrap theory, to...