The newsvendor problem in a global market: optimal centralized and decentralized control policies for a two-market stochastic inventory system

Article Abstract:

Manufacturers of 'style' goods are facing both profit opportunities and production planning and management challenges due to the globalization of trade. Companies can take advantage of variances in the timing of the selling season of geographically dispersed markets. However, an issue called the 'global' newsvendor problem occurs whenever 'style goods' are sold to two markets with non-overlapping selling seasons. Statistical analysis indicate that decentralized production control policies exhibit suboptimality whenever independent profit centers are used and constant transfer pricing policies are implemented. This can be solved by adopting a decentralized production control structure with a nonlinear pricing plan provided by an intermediate organizational group.

Production Planning & Control, Production control, Production planning

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ACLIPS: a capacity and lead time integrated procedure for scheduling

Article Abstract:

A study was conducted to characterize a hierarchical process to analyze concerns related to real-life job shop scheduling problems. The process obtains the manufacturing lot sizes for each product to reduce expected lead times. It also supports several phases, including tuning, scheduling and execution. In addition, the hierarchical process characterizes the production environment as a queueing network and sets release dates dynamically. Finally, the process supports a sequencing logic that is based on Extended Shifting Bottleneck process. Results indicated the effectiveness of the hierarchical process in determining solutions to real-life job shop scheduling concerns. In addition, findings showed that the process supports several computational benefits.

Machine Job Shops, Machine Shops, Management Dynamics NEC, Industrial machinery, not elsewhere classified, Scheduling (Management), Management techniques, Queuing theory

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Parkinson's law and its implications for project management

Article Abstract:

Project management studies have shown the inadequacy of conventional procedures, such as Program Evaluation and Review Technique (PERT) and Critical Path Models (CPM), in providing accurate completion-time estimates for large projects. The paper provides a stochastic activity completion model that can be used as a framework for project activities involving behavioral issues known as Parkinson's law. The model can be used to study the effects on subcontractors of information release policies, and also for developing policies for deadline-setting in parallel or series activities.

Project management, Stochastic processes, Program Evaluation and Review Technique, Critical path analysis

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