We consider the problem of production planning for a seasonal good which is produced in a multistage manner (e.g., when one or more components must be produced or purchased with a lead time that is long compared to the sales season). During the selling season, lost Bales occur if demand cannot...

A number of alternative data-generating processes are explored for mail-order demands for seasonal style-goods. Weekly demands for 126 items over an 18-week selling season provide the empirical data. Arguments are presented which result in the following candidates for data-generating processes:...

A sequential decision problem is partitioned into two parts: a stochastic model describing the transition probability density function of the state variable, and a separate framework of decision choices and payoffs. If a particular sequential decision problem is a recurring one, then there may...

A series of probabilistic models are formulated for the credit granting policy of a firm. First, a single-period analysis is presented for the two-action problem, "give credit or do not give credit." Then a multi-period analysis for the same problem is presented, showing that the single-period...

A general mathematical model is formulated for the problem of scheduling production quantities for a group of products with seasonal stochastic demand through a common production facility. It is assumed that revised forecasts of total demand over the season for each product become available as...

Flexibility and versatility of batch production job shops has increased in the last 25 years through the use of multi-purpose numerically controlled (NC) machine tools; these computer controlled machines can perform a wide variety of different operations. In recent years, even greater...

As firms are increasingly transforming their organizations in response to environmental pressures and hypercompetition, the traditional sequence of manufacturing and marketing (hereafter M/M) strategy formulation and implementation is undergoing scrutiny. Questions are being raised about how to...

Past research into the determinants of international trade highlighted the importance of the basic spatial gravity model augmented by additional variables representing sources of friction. Studies modeled many sources of friction using various proxies, including indices based on expert judgment...