In the considered multistage supply chain, the product structure determines the organization of the network of enterprises that cooperate to manufacture end-products from raw materials. This paper proposes to describe such a multistage supply chain by a sequence of linear dynamical models with distributed delays. The assumed autonomy and information privacy of production units imposes structura...

We consider preventive transshipments between two stores in a decentralized system with two demand subperiods. Replenishment orders are made before the first subperiod, and the stores may make transshipments to one another between the subperiods. We prove that the transshipment decision has a dominant strategy, called a control-band conserving transfer policy, under which each store chooses a q...

a r t i c l e i n f o JEL classification: C22 E44 F31 Keywords: Monetary shocks Asymmetric effects MSVAR–EGARCH In this paper, we study the effect of monetary shocks on the Chinese stock market over the period of 2005 to 2011 with the MSVAR–EGARCH model. The evidence suggests that Chinese monetary policies have significantly asymmetric effects on the stock market in different time periods and m...

Managing spare parts inventories is a challenging task and can benefit considerably from any information on the failure rate of the parts. It has often been considered in the stock control literature that parts' failures are only random, caused by external events which results in the assumption of constant failure rate and therefore the consideration of the Poisson process to represent spare pa...

in last 1990 decade and early 21 century due to high fluctuations in assets prices and occurring asset price bubbles, most studies in monetary economics has concentrated on the reaction of monetary policy to movement in asset prices. the purpose of this paper is to analyze the suitable reaction of monetary policy to movement in asset prices in iran. this analysis is based on the structural var ...

A single-stage Make-to-Stock (MTS) production-inventory system consists of a production facility coupled to an inventory facility, and is subject to a policy that aims to maintain a prescribed inventory level (called base stock) by modulating production capacity. This paper considers a class of single-stage, singleproduct MTS systems with backorders, driven by random demand and production capac...

This paper explores the role of monetary policy in a segmented stock market model. Previous research (e.g Mankiw and Zeldes (1991), Vissing-Jørgensen (2002)) reports that only a fraction of the households participates in the stock market. In this paper participating households have stochastic dividend as part of their income and are, therefore, subject to financial market risk. Also, only parti...

This paper presents a case study of applying a Bayesian approach to forecast demand and subsequently determine the appropriate parameter S of an (S-1,S) inventory system for controlling spare parts of electronic equipment. First, the problem and the current policy are described. Then, the basic elements of the Bayesian approach are introduced and the procedure for calculating the appropriate pa...

Stock rationing is an inventory policy that allows differential treatment of customer classes without using separate inventories. In this paper, we propose a dynamic rationing policy for continuous review inventory systems, which utilizes the information on the status of the outstanding replenishment orders. For both backordering and lost sales environments, we conduct simulation studies to com...