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Driving inventory system simulations with limited demand data: Insights from the newsvendor problem

Canan G. Corlu, Bahar Biller, Sridhar Tayur
<span title="2018-07-10">2018</span> <i title="Figshare"> Figshare </i> &nbsp;
In this paper, we focus on the newsvendor problem and quantify the amount of demand parameter uncertainty – the uncertainty around the unknown demand distribution parameters which are estimated from the  ...  Stochastic inventory system simulation is often the tool of choice by industry practitioners who struggle with the evaluation of the quality of proposed inventory targets using service levels.  ...  except with a mean simulation response function of g(μ, σ 2 ) := Φ[(log(I) − μ)/σ].  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.6084/m9.figshare.6796961.v1">doi:10.6084/m9.figshare.6796961.v1</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/m5pdgk22ovavfhruvio3wcdwja">fatcat:m5pdgk22ovavfhruvio3wcdwja</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20200208123848/https://s3-eu-west-1.amazonaws.com/pstorage-tf-iopjsd8797887/12360860/tjsm_a_1488935_sm7002.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/4b/b0/4bb02e91588674b00b229b2aaadcb159f7aabd59.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.6084/m9.figshare.6796961.v1"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="unlock alternate icon" style="background-color: #fb971f;"></i> figshare.com </button> </a>

Risk Mitigation in Newsvendor Networks: Resource Diversification, Flexibility, Sharing, and Hedging

Jan A. Van Mieghem
<span title="">2007</span> <i title="Institute for Operations Research and the Management Sciences (INFORMS)"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/zncv5noo7jgodckylffhkp26cq" style="color: black;">Management science</a> </i> &nbsp;
With normally distributed demand, risk-averse newsvendors change resource levels roughly proportionally to demand variance, while risk-neutral agents adjust only proportionally to standard deviation.  ...  This highlights the role of profit variance (instead of demand variance) in risk-averse network investment. (2) Ex post revenue maximization suggests rebalancing capacity toward substitutable flexible  ...  The author greatly benefited from the excellent comments and questions from three peer reviewers and the associate editor, which substantially improved this paper.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1287/mnsc.1070.0700">doi:10.1287/mnsc.1070.0700</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/h2myylxaovajpbfwynu2nlolsa">fatcat:h2myylxaovajpbfwynu2nlolsa</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20180411100243/http://www.kellogg.northwestern.edu/faculty/vanmieghem/htm/pubs/VanMieghem_2007_MgtSci_RiskMitigationInNewsvendorNetworks.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/77/c8/77c81ec61113d7be7b095aa5f2fd5739a3aaf31e.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1287/mnsc.1070.0700"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> Publisher / doi.org </button> </a>

A subset selection procedure under input parameter uncertainty

Canan G. Corlu, Bahar Biller
<span title="">2013</span> <i title="IEEE"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/7n2gtrr2tzevzonkaymviwxhsa" style="color: black;">2013 Winter Simulations Conference (WSC)</a> </i> &nbsp;
This paper considers a stochastic system simulation with unknown input distribution parameters and assumes the availability of a limited amount of historical data for parameter estimation.  ...  We demonstrate the significance of this effect of parameter uncertainty for a multi-item inventory system simulation in the presence of short demand histories.  ...  Gupta (1965) proposed a singlestage procedure for this problem that is applicable when the output data from the simulations of the system designs are independent, balanced, and normally distributed with  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1109/wsc.2013.6721442">doi:10.1109/wsc.2013.6721442</a> <a target="_blank" rel="external noopener" href="https://dblp.org/rec/conf/wsc/CorluB13.html">dblp:conf/wsc/CorluB13</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/cmvxlkwcuzbitgaddlq3pktc7q">fatcat:cmvxlkwcuzbitgaddlq3pktc7q</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20150316103025/http://informs-sim.org/wsc13papers/includes/files/039.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/7b/6e/7b6e94172acd008820a936c72893f5a7cc21deb5.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1109/wsc.2013.6721442"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> ieee.com </button> </a>

Analytics for Operational Visibility in the Retail Store: The Cases of Censored Demand and Inventory Record Inaccuracy [chapter]

Li Chen, Adam J. Mersereau
<span title="">2015</span> <i title="Springer US"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/eu7t5yl3jbh5piucndzcckjubu" style="color: black;">International Series in Operations Research and Management Science</a> </i> &nbsp;
The first is demand estimation and inventory optimization in the presence of data censoring, where imperfect data may cause significant estimation biases and inventory cost inefficiencies.  ...  Armed with a number of modern and emerging visibility technologies and facing increased competition from the internet channel, retail managers are seeking ever deeper visibility into store operations.  ...  Acknowledgements The authors thank the editors and an anonymous reviewer for constructive comments that greatly improved the chapter.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1007/978-1-4899-7562-1_5">doi:10.1007/978-1-4899-7562-1_5</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/2kmb62issfegtdshn2rs4ynola">fatcat:2kmb62issfegtdshn2rs4ynola</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20150927145729/http://public.kenan-flagler.unc.edu/faculty/merserea/index_files/papers/ChenMersereau-StoreVisibility-140302.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/7b/eb/7bebe98b27d27b2eb39ccf7b6aa95668846402f6.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1007/978-1-4899-7562-1_5"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> springer.com </button> </a>

PROBABILITY MANAGEMENT AND THE FLAW-OF-AVERAGES

Paul Kruger, Sarma Yadavalli
<span title="">2016</span> <i title="Stellenbosch University"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/dedfs65kivhapc7hglyzsxc7hm" style="color: black;">South African Journal of Industrial Engineering</a> </i> &nbsp;
The flaw-of-averages has important consequences in industrial engineering, financial, business, and economic models. The classic newsvendor problem will be used as an illustrative example.  ...  One of the major driving forces resulting in this development is the phenomenon known as the 'flaw-of-averages'.  ...  The results are summarised in Table 2 . This formulation of, and solution to, the newsvendor problem suffers from some limitations.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.7166/27-4-1572">doi:10.7166/27-4-1572</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/poljxsarcvaevkbdhpwqywhm6e">fatcat:poljxsarcvaevkbdhpwqywhm6e</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20180721135053/http://sajie.journals.ac.za/pub/article/download/1572/739" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/5c/d0/5cd098257ae87a5a7624e49a41bc81de1f3ed3fa.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.7166/27-4-1572"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="unlock alternate icon" style="background-color: #fb971f;"></i> Publisher / doi.org </button> </a>

Data-Pooling in Stochastic Optimization [article]

Vishal Gupta, Nathan Kallus
<span title="2020-09-10">2020</span> <i > arXiv </i> &nbsp; <span class="release-stage" >pre-print</span>
Managing large-scale systems often involves simultaneously solving thousands of unrelated stochastic optimization problems, each with limited data.  ...  Finally, we demonstrate the practical benefits of data-pooling using real data from a chain of retail drug stores in the context of inventory management.  ...  Acknowledgments The authors would like to thank the editorial team including 3 anonymous reviewers for the constructive  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener" href="https://arxiv.org/abs/1906.00255v3">arXiv:1906.00255v3</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/btl72wjy7zgoxnnzi4lr2vynq4">fatcat:btl72wjy7zgoxnnzi4lr2vynq4</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20200918233209/https://arxiv.org/pdf/1906.00255v3.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] </button> </a> <a target="_blank" rel="external noopener" href="https://arxiv.org/abs/1906.00255v3" title="arxiv.org access"> <button class="ui compact blue labeled icon button serp-button"> <i class="file alternate outline icon"></i> arxiv.org </button> </a>

Current Order and Inventory Models in Manufacturing Environments: A Review from 2008 to 2018

Zohreh Momeni, Amir Azizi
<span title="2018-06-22">2018</span> <i title="International Association of Online Engineering (IAOE)"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/lxl6vvnlnfe2zcobu77tt62fvu" style="color: black;">International Journal of Online Engineering (iJOE)</a> </i> &nbsp;
The purpose of this paper is to provide a review on critical problems and factors in order and inventory models under supply chain management.  ...  <p class="0abstract">This paper studied on supply chain in terms of order and inventory problems and factors.  ...  of items in simulated distribution systems.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.3991/ijoe.v14i06.8055">doi:10.3991/ijoe.v14i06.8055</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/i6d6duzh6vhqzgyctmhbgldqqa">fatcat:i6d6duzh6vhqzgyctmhbgldqqa</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20190427211740/https://online-journals.org/index.php/i-joe/article/download/8055/5033" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/ae/90/ae90ed94778c85a2132db293ba2ed164f0514ac4.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.3991/ijoe.v14i06.8055"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="unlock alternate icon" style="background-color: #fb971f;"></i> Publisher / doi.org </button> </a>

The impact of human decision makers' individualities on the wholesale price contract's efficiency: Simulating the newsvendor problem

Stavrianna Dimitriou, Stewart Robinson, Kathy Kotiadis
<span title="">2009</span> <i title="IEEE"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/7n2gtrr2tzevzonkaymviwxhsa" style="color: black;">Proceedings of the 2009 Winter Simulation Conference (WSC)</a> </i> &nbsp;
Suppliers and retailers in the newsvendor setting need to submit their pricing and inventory decisions respectively, well before actual customer demand is realized.  ...  We asked real human subjects to act as suppliers or retailers in simulation games performed in the laboratory. We found their decisions to significantly deviate from the perfectly rational decisions.  ...  INTRODUCTION In the typical newsvendor problem there is only one supplier and one retailer that interact with each other.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1109/wsc.2009.5429209">doi:10.1109/wsc.2009.5429209</a> <a target="_blank" rel="external noopener" href="https://dblp.org/rec/conf/wsc/DimitriouRK09.html">dblp:conf/wsc/DimitriouRK09</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/wvfx5fuqyjd2zkrma2tqkitluq">fatcat:wvfx5fuqyjd2zkrma2tqkitluq</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20170808173441/http://www.anylogic.com/upload/iblock/baa/baacbd46f5a8ad48a7ea287881832777.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/bb/20/bb209fb02975ff6c3d70d54aaf8e3e9df0c8ba3b.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1109/wsc.2009.5429209"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> ieee.com </button> </a>

Commissioned Paper: Capacity Management, Investment, and Hedging: Review and Recent Developments

Jan A. Van Mieghem
<span title="">2003</span> <i title="Institute for Operations Research and the Management Sciences (INFORMS)"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/q4yxwjyrsfe2zd2cwg32mlyozi" style="color: black;">Manufacturing &amp; Service Operations Management</a> </i> &nbsp;
T his paper reviews the literature on strategic capacity management concerned with determining the sizes, types, and timing of capacity investments and adjustments under uncertainty.  ...  After discussing general issues in capacity investment problems, the paper reviews models of capacity investment under uncertainty in three settings: The first reviews optimal capacity investment by single  ...  The author also thanks the senior reviewers, Evan Porteus and Gerard Cachon, for many excellent suggestions.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1287/msom.5.4.269.24882">doi:10.1287/msom.5.4.269.24882</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/s2neyr4n3rfylkitnupkbbz23y">fatcat:s2neyr4n3rfylkitnupkbbz23y</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20170922002832/http://www.kellogg.northwestern.edu/faculty/vanmieghem/htm/pubs/capacitysurvey_msom2003.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/38/19/38199c51102833feb1026e2f4d76b15e9a1bc537.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1287/msom.5.4.269.24882"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> Publisher / doi.org </button> </a>

Producing multiple products with stochastic seasonal demand and capacity limits

R Metters
<span title="">1998</span> <i title="Springer Nature"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/fq4jrflj6zesjk7f4nb4otuwwy" style="color: black;">Journal of the Operational Research Society</a> </i> &nbsp;
Critical number policies for inventory models with period data. Mgmt Sci 35: 71-80. Federgruen A and Zipkin PH (1986). An inventory model with limited production capacity and uncertain demands. I.  ...  In accordance with the purpose of the simulation, the number of experimental cells is limited.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1038/sj.jors.2600503">doi:10.1038/sj.jors.2600503</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/rxcff3aukjfhjmijp53d2nxbfe">fatcat:rxcff3aukjfhjmijp53d2nxbfe</a> </span>
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Producing multiple products with stochastic seasonal demand and capacity limits

R Metters
<span title="">1998</span> <i title="Informa UK Limited"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/fq4jrflj6zesjk7f4nb4otuwwy" style="color: black;">Journal of the Operational Research Society</a> </i> &nbsp;
Critical number policies for inventory models with period data. Mgmt Sci 35: 71-80. Federgruen A and Zipkin PH (1986). An inventory model with limited production capacity and uncertain demands. I.  ...  In accordance with the purpose of the simulation, the number of experimental cells is limited.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1057/palgrave.jors.2600503">doi:10.1057/palgrave.jors.2600503</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/hhxmpiuuszcp3osaykmdhbnmb4">fatcat:hhxmpiuuszcp3osaykmdhbnmb4</a> </span>
<a target="_blank" rel="noopener" href="https://archive.org/details/sim_journal-of-the-operational-research-society_1998-03_49_3/page/263" title="read fulltext microfilm" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Archive [Microfilm] <div class="menu fulltext-thumbnail"> <img src="https://archive.org/serve/sim_journal-of-the-operational-research-society_1998-03_49_3/__ia_thumb.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1057/palgrave.jors.2600503"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> Publisher / doi.org </button> </a>

Behavioural operations management - identification of its research program

Jure Erjavec, Peter Trkman
<span title="">2020</span> <i title="Inderscience Publishers"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/ocqyd5dzxjf3rhupjbzun3qji4" style="color: black;">International Journal of Services and Operations Management</a> </i> &nbsp;
analytical methods that provide better opportunities to align data analysis strategy with the identified research problem.  ...  The Domain base cluster represents the hard core of the field, while five other clusters (Newsvendor, Bullwhip and inventory optimization, Social goals, Supplier relationship, and Organizational behavior  ...  Acknowledgements The authors acknowledge the project (J5-6816 Business transformationfrom business models to innovative processes) was financially supported by the Slovenian Research Agency.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1504/ijsom.2020.10028455">doi:10.1504/ijsom.2020.10028455</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/tfkikl2kdncy3eyal6j7toigrq">fatcat:tfkikl2kdncy3eyal6j7toigrq</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20210715085857/https://repozitorij.uni-lj.si/Dokument.php?id=128163&amp;dn=" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/4a/b6/4ab6c14add5b6af36b331b496665aff7c07988de.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1504/ijsom.2020.10028455"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> Publisher / doi.org </button> </a>

Capacity Sizing Under Parameter Uncertainty: Safety Staffing Principles Revisited

Achal Bassamboo, Ramandeep S. Randhawa, Assaf Zeevi
<span title="">2010</span> <i title="Institute for Operations Research and the Management Sciences (INFORMS)"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/zncv5noo7jgodckylffhkp26cq" style="color: black;">Management science</a> </i> &nbsp;
W e study a capacity sizing problem in a service system that is modeled as a single-class queue with multiple servers and where customers may renege while waiting for service.  ...  In the former case it is shown that traditional square-root safety staffing logic is no longer valid, yet simple capacity prescriptions derived via a suitable newsvendor problem are surprisingly accurate  ...  Acknowledgments The authors are thankful to the seminar participants at Columbia University, Northwestern University, University of Southern California, University of Texas at Austin, and the anonymous  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1287/mnsc.1100.1203">doi:10.1287/mnsc.1100.1203</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/kcuxjrvwlracnpvnw76acljaie">fatcat:kcuxjrvwlracnpvnw76acljaie</a> </span>
<a target="_blank" rel="noopener" href="https://web.archive.org/web/20130202031038/http://www.kellogg.northwestern.edu/faculty/bassamboo/htm/Papers/Bassamboo_Randhawa_Zeevi_Capacity_sizing_under_parameter_uncertainty_MS.pdf" title="fulltext PDF download" data-goatcounter-click="serp-fulltext" data-goatcounter-title="serp-fulltext"> <button class="ui simple right pointing dropdown compact black labeled icon button serp-button"> <i class="icon ia-icon"></i> Web Archive [PDF] <div class="menu fulltext-thumbnail"> <img src="https://blobs.fatcat.wiki/thumbnail/pdf/ad/b9/adb9b95f0ffdacc9c6726f7dcc0b1d2aeae25d8e.180px.jpg" alt="fulltext thumbnail" loading="lazy"> </div> </button> </a> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1287/mnsc.1100.1203"> <button class="ui left aligned compact blue labeled icon button serp-button"> <i class="external alternate icon"></i> Publisher / doi.org </button> </a>

Procurement Portfolio Planning for a Newsvendor with Supplier Delivery Uncertainty

Roshanak Mohammadivojdan, Yasemin Merzifonluoglu, Joseph Patrick Geunes
<span title="">2021</span> <i title="Elsevier BV"> <a target="_blank" rel="noopener" href="https://fatcat.wiki/container/2fqqu5s6wbgk5gcucpt3wqm3gy" style="color: black;">European Journal of Operational Research</a> </i> &nbsp;
Abstract We consider the problem of allocating procurement quantities for a required input to multiple suppliers in advance of a selling season with uncertain demand.  ...  Highlights • Probabilistic demand and multiple all-or-nothing suppliers in a tractable model. • A backup supplier with capacity reservation and a spot market with uncertain price. • Insights on how reliability  ...  Lindoglobal hits the 5000 second time limit for problems with 5 and 6 suppliers and for larger problem sizes, the model size exceeds Lindoglobal limits.  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1016/j.ejor.2021.05.026">doi:10.1016/j.ejor.2021.05.026</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/vkwm72srzzey5gmkfxgzk7oaim">fatcat:vkwm72srzzey5gmkfxgzk7oaim</a> </span>
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Introduction [chapter]

<span title="2020-08-24">2020</span> <i title="De Gruyter"> Inventory Optimization </i> &nbsp;
As businesses are dealing with more products, the average life-cycle is becoming shorter and the demand variability is increasing.  ...  The central question of how much inventory is needed, and where it is needed, is often an endless debate among colleagues. Especially when the game of politics drives decisions.  ...  We discuss first a simple newsvendor model (Chapter 11), then we model custom demand probability distributions (Chapter 12) to finally optimize inventory policies with regard to simulations (Chapter 13  ... 
<span class="external-identifiers"> <a target="_blank" rel="external noopener noreferrer" href="https://doi.org/10.1515/9783110673944-203">doi:10.1515/9783110673944-203</a> <a target="_blank" rel="external noopener" href="https://fatcat.wiki/release/2kur3t7ttfcb5i2hoxvthr3sq4">fatcat:2kur3t7ttfcb5i2hoxvthr3sq4</a> </span>
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