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INFORMS Nashville – 2016
382
2 - A Rental Problem With Unreliable Products
Mohammad Firouz, PhD Candidate, University of Alabama,
610 13th, Apt 19, Tuscaloosa, AL, 35401, United States,
mfirouz@crimson.ua.edu,Burcu B Keskin, Linda Li
We investigate a capacity planning problem of a rental system as an M/M/c/c
queuing model with breakdowns and reneging, and derive the closed form state
distributions for a special case. Our proposed algorithm finds the guaranteed
global optimal for the non-concave profit function. Bounds are derived for the
general case. Numerical experiments demonstrate the performance of our
algorithm and some managerial insights.
3 - Shelf And Backroom Inventory Management Under Shelf Stock
Dependent Demand
Weili Xue, Southeast University, Hankou Road 22, Nanjing, China,
wlxue1981@gmail.com, Ozgun Caliskan Demirag, Frank Y Chen,
Yang Yi
Under shelf-stock-level-dependent demand, we develop inventory control policies
to determine the amount of inventory to maintain in the backroom and the
amount to display on the retail shelf.
4 - Inventory Classification Versus Statistical Clustering For Solving
Multi-echelon Inventory Grouping Problem
Alireza Sheikhzadeh, University of Arkansas, 4207 Bell
Engineering Center, Fayetteville, AR, 72701, United States,
asheikhz@uark.edu, Manuel D Rossetti
Inventory classification and statistical clustering methods are two distinct
approaches that can be used for inventory grouping. In this research, we compare
the performance of the inventory classification and statistical clustering methods
in the context of the multi-echelon stocking policy problem. Numerical
experiments indicate there is a significant difference between these two methods,
in terms of the service performance. We discuss the reasons why clustering is not
an appropriate method for inventory grouping problem.
5 - Inventory Management Of Products With Irregular And
Intermittent Demand Pattern
Sepideh Alavi, University of Wisconsin Milwaukee, 1559
N Prospect Ave. Apt 309, Milwaukee, WI, 53202, United States,
alavi@uwm.eduIn this paper, we highlight the weakness of inventory turnover curve analysis
proposed by Ballou (1981) in cases where products have intermittent demand
pattern. The inventory management of a cookware manufacturer is studied in this
research where planning for the stock of the products which do not have any
demand in most of the months in a year or have lumpy demand, is important. We
try to fit a gamma distribution to a set of fast- moving. We then will be able to
estimate the base stock level for each item under study based on a periodic review
inventory policy.
WA56
Music Row 4- Omni
Open Source & Online Communities
Sponsored: EBusiness
Sponsored Session
Chair: Pratyush Sharma, University of Delaware, Newark, DE,
United States,
pnsharma@udel.edu1 - Single Loop And Double Loop Learning: The Link Between Open
Source Software Developer Motivation, Contribution Behavior
And Turnover Intentions
Shadi Janansefat, University of Pittsburgh,
shadi.j@pitt.edu,
Sherae Daniel
In this study we examine the link between learning motivation, two kinds of
learning that occur through OSS development (single- and double-loop learning),
and their impact on developer contributions. We distinguish among the impact of
learning, use-value and collaboration motivation on the two kinds of learning
and on developers’ contributions and turnover intentions. We find that learning
can be an intervening mechanism between motivation to work on a project,
subsequent contributions and intentions to leave that project.
2 - Effective Selection Mechanisms In Open Innovation
Vipul Aggarwal, University of Washington, Seattle, WA,
United States,
aggarv@uw.edu,Elina Hwang
Open Innovation is proposed as an effective way to generate novel and
innovative solutions to existing problems but it has been observed that the
winning solutions offer only incremental improvement over the existing
solutions. Using data from
OpenIdeo.comand unsupervised learning algorithms,
we aim to investigate the idea evaluation process in screening ideas from distant
areas.
WA57
Music Row 5- Omni
Strategic Customer Behavior in Retail and
Manufacturing
Sponsored: Behavioral Operations Management
Sponsored Session
Chair: Pelin Pekgun, University of South Carolina, Columbia, SC,
United States,
Pelin.Pekgun@moore.sc.edu1 - Punishment And Reward In a Cooperative Advertising Game
Yukun Zhao, Tsinghua University, Beijing, China,
zhaoyk1989@gmail.com, Tony H Cui, Xiaobo Zhao
In this paper, we investigate the counterfactual effects of punishment and reward
decisions in an investment-pricing game. Specifically, we consider a dyadic
channel where a manufacturer and a retailer first make investments to increase
market base demand and then make sequential pricing decisions to sell to end
consumers. We build a behavioral model with several relevant behavioral biases
to study how firms pricing and profits are affected by the incorporated behavioral
constructs. Experimental results confirm the behavioral model’s predictions.
2 - Consumer Stockpiling Behavior In A Changing Economy:
Implications For Retail Inventory Management
Xiaodan Pan, University of Maryland, College Park, MD,
United States,
xiaodan.pan@rhsmith.umd.edu, Benny Mantin,
Martin E Dresner
Assessing consumer stockpiling behavior is critical for managing promotions.
Distinguishing between non-stockpilers and stockpilers we explore how the
changing economy influences consumers’ purchasing behavior. While the
consumption rates of both consumer segments increase (decrease) during
expansion (contraction) period, we find that consumer stockpiling propensity is
higher during contraction than during expansion period and that regional
variations emerge. We discuss implications for inventory management.
3 - Behavioral Ordering And Competition
Brent Moritz, Penn State University, University Park, PA, 16802,
United States,
bmoritz@psu.edu, Bernardo Quiroga,
Anton Ovchinnikov
We investigate the impact of behavioral ordering on profitability. Since most firms
compete for customers, we compare the decisions of humans and a management
science-driven competitor who places orders under three plausible policies. We
evaluate performance when consumers are fully loyal and when they switch to
the competitor with higher service levels. We show that the large differences in
profits are primarily driven by suboptimal ordering of behavioral decision makers
rather than the sophistication of their management-science-driven competitors.
4 - Using Capacity Allocation Policies For Truthful Forecast Sharing
Minseok Park, University of South Carolina,
1520 Senate Street, Apt 127, Columbia, SC, 29201, United States,
minseok.park@grad.moore.sc.edu, Pelin Pekgun, Pinar Keskinocak
Through a behavioral study, we investigate customers’ strategic forecasting and
ordering behavior under different allocation policies from their supplier. Our
results suggest that rewarding forecast accuracy in allocating inventory can lead to
improved forecast sharing, particularly when the supplier communicates this
policy to the customers.
WA58
Music Row 6- Omni
Finance I
Contributed Session
Chair: Huawei Niu, Nanjing Audit University, School of Finance,
Nanjing, 211815, China,
niuhuawei@gmail.com1 - Optimal Construction And Rebalancing Of
Index-Tracking Portfolios
Oliver Strub, University of Bern, Schuetzenmattstrasse 14, FM
Quantitative Methoden, Bern, 3012, Switzerland,
oliver.strub@pqm.unibe.ch, Philipp Baumann
Index funds have become popular because they offer attractive risk-return
profiles at low cost. The index-tracking problem consists of revising (rebalancing)
the composition of the index fund’s tracking portfolio in response to new market
information and cash changes such that the tracking accuracy of the index fund is
maximized. We propose a novel formulation of the index-tracking problem as a
mixed-integer linear program. In an empirical study, we demonstrate that the
proposed formulation outperforms existing formulations in terms of tracking
accuracy and running time.
WA56