This paper presents an approach for solving an inventory model for single-period products with maximizing its expected profit in a fuzzy environment, in which the retailer has the opportunity for substitution. Though various structures of substitution arise in real life, in this study we consider the fuzzy model for two-item with one-way substitution policy. This one-way substitutability is rea...

Following the successful stories in the airline industry, many primary-care clinics have adopted overbooking to deal with their prevalent patient no-show problem. However, there has been very limited research, to the best of our knowledge, that analyzes the impact of overbooking on the major causes/factors of patient no-show and its implications. While overbooking has little impact on many rand...

This paper presents a new approach for consumer credit scoring, by tailoring a profit-based classification performance measure to credit risk modeling. This performance measure takes into account the expected profits and losses of credit granting and thereby better aligns the model developers’ objectives with those of the lending company. It is based on the Expected Maximum Profit (EMP) measure...

AIM OF THE PAPER The paper aims at describing and explaining net profit flows per country for the period 1980-2009. Net profit flows result from Foreign Direct Investment (FDI) stock and profit repatriation: inward stock creating a profit outflow and outward FDI stock a profit inflow. Profit flows, especially 'normal' ones are not commonly researched. THEORETICAL BACKGROUND According to world...

Sequential and simultaneous auctions are two important mechanisms for buying/selling multiple objects. These two mechanisms yield different outcomes (i.e., different revenues and also different profits to the winning bidders). Hence, both the auctioneer and the bidding agents want to know which mechanism is better for them. Given this, we compare the outcomes for these mechanisms for the follow...

Strong selection incentives exist in many institutionally-mixed industries. We examine such an industry, hospices, where there are strong financial incentives due to the Medicare pricing system, to maximize patients’ expected lengths of stay. We investigate the responses of for-profit and nonprofit organizations to these incentives, using a unique dataset consisting of all urban Medicare admiss...

According to the Council of Supply Chain Management Professionals (September 2007), we have the following description for supply chain management: “supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel pa...