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Make-to-Order Vs; Make-to-Stock: The Role of Inventory in Delivery-Time Competition (Classic Reprint) - Tapa blanda
Sinopsis
Excerpt from Make-to-Order Vs; Make-to-Stock: The Role of Inventory in Delivery-Time Competition
The make-to-order versus make-to-inventory question is a fundamental one in organizing and controlling production, but the one that has been subject to relatively little formal modeling in either economics or operations management literatures. One exception is the recent paper by Milgrom and Roberts (1987) that uses a newsboy-type model to formalize the idea that inventories and information about demand are substitutes for one another in production. Their results suggest that firms should employ only one of the two strategies: firms either produce for inventory or produce to order, but not the both.
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Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Reseña del editor
Excerpt from Make-to-Order Vs; Make-to-Stock: The Role of Inventory in Delivery-Time Competition
The make-to-order versus make-to-inventory question is a fundamental one in organizing and controlling production, but the one that has been subject to relatively little formal modeling in either economics or operations management literatures. One exception is the recent paper by Milgrom and Roberts (1987) that uses a newsboy-type model to formalize the idea that inventories and information about demand are substitutes for one another in production. Their results suggest that firms should employ only one of the two strategies: firms either produce for inventory or produce to order, but not the both.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Reseña del editor
Excerpt from Make-to-Order Vs; Make-to-Stock: The Role of Inventory in Delivery-Time Competition
The paper formulates a set of stochastic models to study the production and inventory policies of a firm that considers explicitly the behavior of customers and competing firms. We start with a single firm production control problem. The optimal policy is solved explicitly, and the optimal mix between make-to-order and make-to-stock operations is determined with customers characterized by patience levels in a simple newsboy-like formula. The model is then extended to a n-firm market game in which firms compete for orders in the aspect of early delivery. One could think of this setting as an oligopoly racing market. The analysis shows that competition can breed a demand for produce-to-stock, just as other economic phenomena such as economics of scale, uncertainty, or seasonality can induce production to inventory, and that competition of this kind increases the buyer's welfare while decreases the producer's welfare. The paper also suggests the analytical and numerical methods which can compute an equilibrium of the stocking game.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Make-to-Order Vs; Make-to-Stock (Classic Reprint)
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Paperback. Condición: New. Print on Demand. This book explores the fundamental question of why businesses maintain inventory, delving into the economic and competitive forces that shape production and inventory policies. Through the development of stochastic models, the author demonstrates how customer behavior and rival firms influence a firm's decision between make-to-order and make-to-stock strategies. One of the key insights presented is that competition can induce inventory holding, akin to other economic factors such as economies of scale or uncertainty. Furthermore, the author argues that competition of this kind actually increases buyer welfare while decreasing producer welfare. By illuminating the interplay between inventory and factors like lead time and demand arrival uncertainty, this book sheds light on the complex dynamics of production and inventory management. Its analytical and numerical methods provide valuable tools for researchers and practitioners seeking a deeper understanding of these concepts. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Nº de ref. del artículo: 9781332268641_0
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MaketoOrder Vs MaketoStock The Role of Inventory in DeliveryTime Competition Classic Reprint
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Make-to-Order Vs; Make-to-Stock : The Role of Inventory in Delivery-Time Competition (Classic Reprint)
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Forgotten Books, 2015
ISBN 10: 1332268641
ISBN 13: 9781332268641
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Condición: Sehr gut. Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar. Nº de ref. del artículo: 26075779/2
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