Decision-Making and the Newsvendor Problem – An Experimental Study

This paper investigates repetitive purchase decisions of perishable items in the face of uncertain demand (the newsvendor problem). The experimental design includes: high, or low profit levels; and uniform, or normal demand distributions. The results show that in all cases both learning and convergence occur and are effected by: (1) the mean demand; (2) the order-size of the maximal expected profit; and (3) the demand level of the immediately preceding round. In all cases of the experimental design, the purchase order converges to a value between the mean demand and the quantity for maximizing the expected profit.Inventory, Learning, Behavior, Management, Optimization

A newsvendor model with service and loss constraints

Actual performance measurement systems do not only consider financial measures like costs and profits but also non-financial indicators with respect customer service, quality and flexibility. Using the newsvendor model we explore the influence of possibly conflicting performance measures on important operations decisions like the order quantity and the selling price of a product. For price-independent as well as price-dependent demand distribution like in the classical newsvendor model the objective is to maximise the expected profit. But the optimal decisions are computed with respect to a service constraint - a lower bound for the level of product availability - and to a loss constraint - an upper bound for the probability of resulting in loss. For the price-independent model a condition for the existence of an optimal order quantity and its structure is presented. For the price-setting newsvendor the admissible region of the order quantity and the selling price is characterised for the additive and the multiplicative model. Furthermore, it is shown that higher variability of demand leads to a smaller admissible region of the decision variables thereby easing the computation of the optimal decisions.Constrained Newsvendor Model, Price-Setting Newsvendor

On multiplication lattice modules

In this paper we study multiplication lattice modules. Next we characterize hollow lattices modules. We also establish maximal elements in multiplication lattices modules. In [16], we introduced the concept of a multiplication lattice L-module and we characterized it by principal elements. In this paper, we continue study on multiplication lattice L-module

On a retailer’s EOQ in a supply chain with two-level trade credit

Recently, Teng and Goyal [Journal of the Operational Research Society, Vol. 58, pp. 1252-1255, 2007.] extended and modified Huang’s model [Journal of the Operational Research Society, Vol. 54, pp. 1011-1015, 2003.] to develop their model and established the proper theoretical results to obtain the optimal solution. Their inventory model is correct and interesting. However, they give the optimal solutions showing that Theorems 1 and 2 in Teng and Goyal are not complete. The main purpose of this paper is to overcome Teng and Goyal’s shortcomings and to present complete proofs of their Theorems 1 and 2

Using automation to produce a ‘living map’ of the COVID-19 research literature

The COVID-19 pandemic has disrupted life worldwide and presented unique challenges in the health evidencesynthesis space. The urgent nature of the pandemic required extreme rapidity for keeping track of research, andthis presented a unique opportunity for long-proposed automation systems to be deployed and evaluated. Wecompared the use of novel automation technologies with conventional manual screening; and Microsoft AcademicGraph (MAG) with the MEDLINE and Embase databases locating the emerging research evidence. We foundthat a new workflow involving machine learning to identify relevant research in MAG achieved a much higherrecall with lower manual effort than using conventional approaches

Prospects of increasing the presence of Helianthemum kahiricum Dell. pastoral North African plant by means of micropropagation

Helianthemum kahiricum has great potential in forage, in traditional medicine, for halting desert encroachment and stabilizing sand dunes through their excellent root systems development, and in the improvement of soil organic matter content. H. kahiricum is threatened with extinction because of overgrazing abuse and increasing human disturbance. For these reasons, in vitro propagation is essential for developing efficient conservation program. Several cytokinins: indole-3-acetic acid (IAA) ratios and a range of zeatin concentrations were evaluated for their effect on shoot multiplication from apical shoots and nodal segments. The type of cytokinin and the origin of the explants were the most important factors affecting shoot multiplication. The highest shoot multiplication rate was obtained from single-nodal explants on medium hormone free. Increasing zeatin concentrations promotes decreased shoot multiplication independently of explants type, although this effect tends to decrease with higher zeatin concentration. Shoot growth was higher in apical shoots and it was not stimulated by the presence of auxin. A number of experiments were conducted to identify suitable procedures for rooting of in vitro produced shoots. Although, rooting frequency rose to 98% by in vitro culture on an auxin-free medium, the survival of the plants after 6 months of acclimatization was good (90%).Keywords: Biotechnology conservation, pastoral species, ex vitro rooting, Helianthemum kahiricum, in vitro culture