Jobshop-like Queueing Systems
James R. Jackson
Results shown in the seminal 1963 paper “Jobshop-like Queueing Systems” led to the development of the eponymous “Jackson queuing networks”. Later, Leonid Kleinrock, widely recognized as an important pioneer of the Internet, once referred to Jackson as “the father of the Internet” for his work on queueing systems. In December 2004, Management Science republished his 1963 paper (with commentary) as one of the 10 most influential works in that journal’s first 50 years. Professor Jackson passed away on March 20, 2011.
Back to Bentham? Explorations of experienced utility
D. Kahneman, P.P. Wakker and R. Sarin
Quarterly Journal of Economics
In 1997, Ramsey-medal awarded Rakesh Sarin co-authored with Nobel Laureate Daniel Kahneman to make the distinction between total utility, which social planners should seek to maximize, and remembered utility, which people use to make future decisions.
Advance Booking Discount Programs Under Retail Competition
Kevin McCardle, Kumar Rajaram, and Christopher Tang
In “Advance Booking Discount Programs Under Retail Competition”, Kevin McCardle, Kumar Rajaram, and Christopher Tang modeled a situation in which two retailers considered launching an Advance Booking Discount (ABD) program, wherein customers are enticed to precommit their orders at a discount price prior to the regular selling season – but these precommitted orders are filled during the selling season. While the ABD program enables retailers to lock in a portion of the customer demand and use this information to develop more accurate forecasts and supply plans, the ABD price reduces profit margin. McCardle, Rajaram and Tang analyzed the four possible scenarios wherein each of the two firms offered an ABD program or not, and established conditions under which the unique equilibrium called for launching the ABD program at both retailers. McCardle, Rajaram and Tang’s research was featured in Management Science.
Competition and Structure in Serial Supply Chains with Deterministic Demand
In “Competition and Structure in Serial Supply Chains with Deterministic Demand,” Uday Karmarkar found that supply chains often consist of several tiers, each with different numbers of competing firms. Karmakar examined the impact of fixed and variable costs on the structure and competitiveness of supply chains with a serial structure and price-sensitive linear deterministic demand. Karmakar derived expressions for prices and production quantities as functions of the number of entrants at each tier of a multitier chain, and characterized viability and stability of supply-chain structures and show. Lastly, Karmakar examined the effects of vertical integration in the two-tier case. Karmakar’s findings were published in Management Science.
Lagrangean Relaxation for Integer Programming
Mathematical Programming Studies
Art Geoffrion, who received the prestigious 2013 INFORMS President’s award, gives a systematic development of a simple bounding construct as a means to exploit the special structure of an optimization problem over integers. This is a classic in the theory of integer programming and has received about 1500 citations (Google Scholar).
Zara Uses Operations Research To Reengineer Its Global Distribution Process
F. Caro, J. Gallien, M. Díaz, J. García, J. M. Corredoira, M. Montes, J. A. Ramos, and J. Correa
This 2010 paper was a finalist for the prestigious Franz Edelman Award, which attests to the contributions of operations research and analytics in both the profit and non-profit sectors. The model proposed in this paper helped Zara, the leading fast-fashion apparel retailer, reengineer its distribution process, resulting in a 3-4% increase in sales and an additional $353 million profit in 2008.