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Some firms make all their products to order while others make them to stock. There are a number of firms that maintain a middle ground, where some items are made to stock and others are made to order. This paper was motivated by a consumer product company faced with the decision about which...
While quality has attracted significant attention in the past two decades, the debate is still on as to whether a firm should aim for zero defects or base its quality decisions on cost-benefit trade-offs. The continuous improvement advocates generally eschew the cost trade-off approach, but U.S....
Numerous normative models have been developed to determine optimal inventory levels, and several articles and case studies have been written about the concerted efforts and practices adopted by manufacturing firms in the United States to reduce inventories. But little is known about whether...