Value of information in capacitated supply chains
Article Abstract:
The information exchange between a supplier and a retailer was examined in a two-echelon information model reflective of the capacitated setting of a common supply chain. Three situations were analyzed: where the supplier does not know future demands, where the supplier knows the s, S policy of the retailer and where the supplier knows everything about the retailer. Examination of these three models provides insights into the link between capacity, inventory and information at the supplier level, and the impact on them of the retailer's (S - s) values and end-item demand distribution. Insights on the savings and benefits of nonstationary demand processes were also generated. The supplier's savings derived from information sharing are estimated.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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Multiperiod financial planning
Article Abstract:
A new algorithm is developed for asset allocation. It provides consistent estimates of optimal savings allocations that depend on personal qualities such as income and age. Numerical analysis is employed to solve a person's lifetime consumption-investment problem on an annual basis, and within the context of full markets and income which is not marketable. The investment opportunity set represents that which was available between 1926 and 1981. The highest relative risk aversion in wealth is found among the elderly, while the lowest is shown for the middle-aged, with young adults appearing in mid-range.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1987
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