2015

最新文章

• Wine Futures and Advance Selling Under Quality Uncertainty AI翻译
  作者：Noparumpa, Tim; Kazaz, Burak; Webster, Scott
  作者单位：Chulalongkorn University; Syracuse University; Arizona State University; Arizona State University-Tempe
  摘要：This study examines the use of wine futures (i.e., advance selling of wine before it is bottled) as a form of operational flexibility to mitigate quality rating risk. At the end of a harvest season, the winemaker obtains a certain number of barrels of wine that can be produced for a particular vintage. While the wine is aging in the barrel, expert reviewers taste the wine and create a barrel score, indicating the potential quality of the wine and offering clues as to whether, when bottled, it ...
• Merchant Commodity Storage and Term-Structure Model Error AI翻译
  作者：Secomandi, Nicola; Lai, Guoming; Margot, Francois; Scheller-Wolf, Alan; Seppi, Duane J.
  作者单位：Carnegie Mellon University; University of Texas System; University of Texas Austin
  摘要：Merchant operations involves valuing and hedging the cash flows of commodity- and energy-conversion assets as real options based on stochastic models that inevitably embed model error. In this paper we quantify how empirically calibrated model errors concerning the futures term structure affect the valuation and hedging of natural gas storage. We find that even small model errors-on the order of 1%-2% of the empirical futures price variance-can have a disproportionate impact on storage valuati...
• Dynamic Pricing and Inventory Management Under Fluctuating Procurement Costs AI翻译
  作者：Xiao, Guang; Yang, Nan; Zhang, Renyu
  作者单位：Washington University (WUSTL)
  摘要：We consider a periodic review joint pricing and inventory control model in which a firm faces both stochastic demand and fluctuating procurement costs. To address procurement cost fluctuation, the firm adopts a dual-sourcing strategy, under which it procures from a spot market with immediate delivery and through a forward-buying contract with postponed delivery. Our analysis offers the unique insight that a risk-neutral firm may earn higher expected profit under a more volatile procurement cos...
• OM Forum The Service and Information Economy: Research Opportunities AI翻译
  作者：Karmarkar, Uday
  作者单位：University of California System; University of California Los Angeles
  摘要：The U.S. economy is already dominated by service and information-intensive industries in terms of both gross national product and jobs, and these trends are visible in all major world economies. These economic shifts are driven by productivity changes, which today often depend on new information and communication technologies. These changes can be thought of as service industrialization, which underlies productivity improvements. Industrialization is, in turn, closely related to the design and...
• Inventory Control in a Spare Parts Distribution System with Emergency Stocks and Pipeline Information AI翻译
  作者：Howard, Christian; Marklund, Johan; Tan, Tarkan; Reijnen, Ingrid
  作者单位：VTI; Lund University; Eindhoven University of Technology
  摘要：Motivated by collaboration with a global spare parts service provider, we consider a two-echelon inventory system with multiple local warehouses, a so-called support warehouse, and a central warehouse with ample capacity. In case of stock-outs, the local warehouses can receive emergency shipments from the support warehouse or the central warehouse at an extra cost. Our focus is on using information on orders in the replenishment pipeline, i.e., pipeline information, to achieve cost-efficient p...
• Managing Hospital Inpatient Bed Capacity Through Partitioning Care into Focused Wings AI翻译
  作者：Best, Thomas J.; Sandikci, Burhaneddin; Eisenstein, Donald D.; Meltzer, David O.
  作者单位：University of Chicago; University of Chicago; University of Chicago Medical Center
  摘要：We consider the partitioning of care types into wings from the perspective of a hospital administrator who wishes to optimize the use of a fixed number of beds that provide services for heterogeneous care types. The hospital administrator decides on the number of wings to form, the number of beds to allocate to each wing, and the set of care types to assign to each wing to maximize the total utility to the hospital. The administrator faces an inherent trade-off between forming large wings to p...
• Dynamic Knowledge Transfer and Knowledge Development for Product and Process Design Teams AI翻译
  作者：Ozkan-Seely, Gulru F.; Gaimon, Cheryl; Kavadias, Stylianos
  作者单位：University System of Georgia; Georgia Institute of Technology; University of Cambridge
  摘要：We consider a manager who invests in knowledge development of a product and a process design team as well as knowledge transfer between teams throughout a new product development (NPD) project. Knowledge development at a particular time (e.g., prototyping and experimentation) increases a team's level of knowledge at that time. In contrast, the recipient's benefits from knowledge transfer may be lagged because of the difficulties in articulating and documenting knowledge as well as the challeng...
• Optimal Decentralization of Early Infant Diagnosis of HIV in Resource-Limited Settings AI翻译
  作者：Deo, Sarang; Sohoni, Milind
  作者单位：Indian School of Business (ISB)
  摘要：Early infant diagnosis (EID) programs in many resource-limited settings are aimed at diagnosing infants born to HIV-infected mothers. Because of the complexity of the diagnostic technology, EID programs are often highly centralized with few laboratories testing blood samples from a large network of health facilities. This leads to long diagnostic delays and consequent failure of patients to collect results in a timely manner. Several point-of-care (POC) devices that provide rapid diagnosis wit...
• Production Smoothing and the Bullwhip Effect AI翻译
  作者：Bray, Robert L.; Mendelson, Haim
  作者单位：Northwestern University; Stanford University
  摘要：The bullwhip effect and production smoothing appear antithetical because their empirical tests oppose one another: production variability exceeding sales variability for bullwhip, and vice versa for smoothing. But this is a false dichotomy. We distinguish between the phenomena with a new production smoothing measure, which estimates how much more variable production would be absent production volatility costs. We apply our metric to an automotive manufacturing sample comprising 162 car models ...
• Hedging Commodity Procurement in a Bilateral Supply Chain AI翻译
  作者：Turcic, Danko; Kouvelis, Panos; Bolandifar, Ehsan
  作者单位：Washington University (WUSTL); Chinese University of Hong Kong
  摘要：This paper explores the merits of hedging stochastic input costs (i.e., reducing the risk of adverse changes in costs) in a decentralized, risk-neutral supply chain. Specifically, we consider a generalized version of the well-known selling-to-the-newsvendor model in which both the upstream and the downstream firms face stochastic input costs. The firms' operations are intertwined-i.e., the downstream buyer depends on the upstream supplier for delivery and the supplier depends on the buyer for ...