To stay competitive, firms regularly invest in innovation by supporting internal capital projects (funded and executed in-house) that explore new products and operational improvements. Each year, in a highly competitive process, managers from different ...

In Dynamic Pricing with Customer State Dependence, Wen Chen, Ying He, and Saurabh Bansal discuss optimal prices that a firm should offer to customers who develop a habit or satiation from consumption. At a high discount (or equivalently a lower price), a ...

We study a dynamic pricing problem in which a firm chooses prices over multiple periods when consumers are state dependent; that is, they develop a habit or satiation from their past consumption. We first derive an intertemporal demand function to capture ...

The modeling-based case study is useful for two purposes: introduce closed-loop supply chains and highlight and model some of its unique aspects that the traditional newsvendor formulation does not capture. The case focuses on a third-party remanufacturer ...

The primary objective of the case study is to help students understand, model, and solve capacity planning problems (i) when the production yield is uncertain and (ii) if the yield of first production is low, the product can be produced a second time. The ...

Many retailers are reducing store footprint and downsizing their assortments accordingly to improve store productivity. Some of the revenue for items removed from the assortment may be recouped by substitution, but also some of the revenue for items kept ...

OEMs of capital‐intensive products are increasingly servicizing their business model, that is, they lease the product to the customer while selling the service. This has led to the forward and reverse flow of products and information between the ...

• The standard practices and processes of the traditional sell‐a‐product model do not apply to the servicizing business model, in which OEMs lease the product to the customer while selling the service to the customers.
• The paper highlights the need ...

Replicating cash flows of multiple agents in game-theoretic settings tends to be a challenging task. In this paper, we consider the competitive newsvendor game where multiple newsvendors choose inventory levels before demand arrival and the unmet demand ...

We revisit the stochastic inventory game in which n players compete by setting their individual inventory levels in a market with stockout-based demand substitution. Because of specific tractability issues, the prior literature has largely focused on ...

We adapt a polynomial-time approximation algorithm for computing the canonical basis of implications to approximately compute frequent implications, also known as exact association rules. To this end, we define a suitable notion of approximation ...

Saurabh Bansal and James S. Dyer study a common problem in the commercial agribusiness market, where farmers have a preference for a farm input such as a seed based on a fit with their geographical location but are also willing to accept a closely related ...

In this paper, we consider the problem in which a firm offers a portfolio of products (agricultural seeds) to multiple customer segments comprising farmers under aggressive fill-rate constraints, and some, but not all, customers will accept a substitute ...

In this paper, Saurabh Bansal and Genaro J. Gutierrez develop a data-driven approach to aggregate point forecasts provided by multiple experts into probability distributions while accounting for expert heterogeneity. They consider the commonly encountered ...

In this paper, we develop a new characterization of multiple-point forecasts provided by experts and use it in an optimization framework to deduce actionable signals, including the mean, standard deviation, or a combination of the two for underlying ...

Several firms make business decisions based on risk specifications or estimates provided by domain experts. But research on whether the format of risk specifications systematically affects decision making in multidimensional environments is scarce. ...

We consider two-stage sequential decision-making problems where in Stage 1 an initial decision is made under a multivariate uncertainty, and in Stage 2 the uncertainty is resolved, a further decision is made based on the uncertainty realization, and the ...

Motivated by a unique agribusiness setting, this paper develops an optimization-based approach to estimate the mean and standard deviation of probability distributions from noisy quantile judgments provided by experts. The approach estimates the mean and ...

The acquisition of production flexibility is a well-documented strategy pursued by many firms to counteract certain operational constraints. However, these flexibilities can increase the complexity of a production system and the difficulties in managing ...

We are creating an immersive analytics tool for exploring the output of a Dynamic Integrated Climate-Economy (DICE) model, and present early work on the prototype system. DICE models and other Integrated Assessment Models (IAMs) are critical for ...

Prior literature suggests that in the presence of operational uncertainties such as uncertain demand, firms should deploy operational flexibilities. However, these flexibilities are costly to develop and a correct valuation of these capabilities ...