Suchergebnisse

AbstractWe consider a setting in which inventory plays both promotional and service roles; that is, higher inventories not only improve service levels but also stimulate demand by serving as a promotional tool (e.g., as the result of advertising effect by the enhanced product visibility). Specifically, we study the periodic‐review inventory systems in which the demand in each period is uncertain but increases with the inventory level. We investigate the multiperiod model with normal and expediting orders in each period, that is, any shortage will be met through emergency replenishment. Such a model takes the lost sales model as a special case. For the cases without and with fixed order costs, the optimal inventory replenishment policy is shown to be of the base‐stock type and of the (s,S) type, respectively. © 2012 Wiley Periodicals, Inc. Naval Research Logistics, 2012

ABSTRACTThe classic newsvendor model was developed under the assumption that period‐to‐period demand is independent over time. In real‐life applications, the notion of independent demand is often challenged. In this article, we examine the newsvendor model in the presence of correlated demands. Specifically under a stationary AR(1) demand, we study the performance of the traditional newsvendor implementation versus a dynamic forecast‐based implementation. We demonstrate theoretically that implementing a minimum mean square error (MSE) forecast model will always have improved performance relative to the traditional implementation in terms of cost savings. In light of the widespread usage of all‐purpose models like the moving‐average method and exponential smoothing method, we compare the performance of these popular alternative forecasting methods against both the MSE‐optimal implementation and the traditional newsvendor implementation. If only alternative forecasting methods are being considered, we find that under certain conditions it is best to ignore the correlation and opt out of forecasting and to simply implement the traditional newsvendor model.

Weak interfacial interactions remain a bottleneck for composite materials due to their weakened performance and restricted applications. The development of core–shell engineering shed light on the preparation of compact and intact composites with improved interfacial interactions. This review addresses how core–shell engineering has been applied to energetic materials, with emphasis upon how micro-energetic materials, the most widely used particles in the military field, can be generated in a rational way. The preparation methods of core–shell structured explosives (CSEs) developed in the past few decades are summarized herein. Case studies on polymer-, explosive- and novel materials-based CSEs are presented in terms of their compositions and physical properties (e.g., thermal stability, mechanical properties and sensitivity). The mechanisms behind the dramatic and divergent properties of CSEs are also clarified. A glimpse of the future in this area is given to show the potential for CSEs and some suggestions regarding the future research directions are proposed.