This paper extends a recent work that investigated a single-stage production-inventory model with reworks and planned backorders by fuzzifying its input parameters. The graded mean integration representation (GMIR) method, a useful and effective defuzzification method, is employed to develop a...

This paper differentiates between an order (line) fill rate and a volume fill rate and specifies their performance for different inventory control systems. When the focus is on filling complete customer orders rather than total demanded quantity the order fill rate would be the preferred service...

Customers may react differently when stockouts occur. In this paper we investigate the rationing policy for an inventory system with a mixture of demand classes of backorder type and lost sales type. Since the penalty cost of backorders varies with time, the priorities of demand classes also...

Over the last decade, the microstructure approach to exchange rates has become very popular. The underlying idea of this approach is that the order flows at different levels of aggregation contain valuable information to explain exchange rate movements. The bulk of empirical literature has...

We study a single-product single-location inventory system under periodic review, where excess demand is lost and the replenishment lead time is positive. The performance measure of interest is the long-run average holding cost and lost sales penalty cost. For a large class of demand...

Despite their importance in modern electronic trading, virtually no systematic empirical evidence on the market impact of incoming orders is existing. We quantify the short-run and long-run price effect of posting a limit order by proposing a high-frequency cointegrated VAR model for ask and bid...

Despite their importance in modern electronic trading, virtually no systematic empirical evidence on the market impact of incoming orders is existing. We quantify the short-run and long-run price effect of posting a limit order by proposing a high-frequency cointegrated VAR model for ask and bid...

We consider a variant of the periodic review system with a virtual warehouse that is due to Eppen and Schrage (1981). Depending on the realized pattern of demand during the delivery leadtime, this inventory is dynamically allocated or rationed to each of the retailers. While Eppen and Schrage...

Elements of an econometric examination of benchmark revisions in real-time data are suggested. Structural break tests may be applied to detect heterogeneities within vintages. Systems cointegration tests are helpful to reveal inconsistencies across vintages. Differencing and rebasing, often used...

This paper discusses some points of the algebraic optimisation method and the cost comparisons optimisation method. Moreover, mathematical expressions are derived for the backorders level for the EOQ and EPQ inventory models with planned backorders that were not provided by the cost comparisons...

Die derzeitige Rezession im verarbeitenden Gewerbe Deutschlands ist ganz überwiegend die Folge einer globalen Nachfrageschwäche und nicht Zeichen mangelnder Wettbewerbsfähigkeit. Dies wird durch aktuelle Umfrageergebnisse aus dem Konjunkturtest für das verarbeitende Gewerbe belegt: Während...

In a multi-item inventory system, such as an assemble-to-order manufacturing system or an online-retailing system, a customer order typically consists of several different items in different amounts. The average order-based backorders are the average number of customer orders that are not yet...