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Management science is a wide and interdisciplinary study of solving complex problems and making strategic decisions as it pertains to institutions,corporations,governments and other types of organizational entities. It is closely related to management,economics,business,engineering,management consulting,and other fields. It uses various scientific research-based principles,strategies,and analytical methods including mathematical modeling,statistics and numerical algorithms and aims to improve an organization's ability to enact rational and accurate management decisions by arriving at optimal or near optimal solutions to complex decision problems.
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The newsvendormodel is a mathematical model in operations management and applied economics used to determine optimal inventory levels. It is (typically) characterized by fixed prices and uncertain demand for a perishable product. If the inventory level is ,each unit of demand above is lost in potential sales. This model is also known as the newsvendor problem or newsboy problem by analogy with the situation faced by a newspaper vendor who must decide how many copies of the day's paper to stock in the face of uncertain demand and knowing that unsold copies will be worthless at the end of the day.
Computer simulation is a prominent method in organizational studies and strategic management. While there are many uses for computer simulation,most academics in the fields of strategic management and organizational studies have used computer simulation to understand how organizations or firms operate. More recently,however,researchers have also started to apply computer simulation to understand organizational behaviour at a more micro-level,focusing on individual and interpersonal cognition and behavior such as team working.
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Suresh P. Sethi is Eugene McDermott Chair of operations management and director of the Center for Intelligent Supply Networks at the University of Texas at Dallas.He has contributed in the fields of manufacturing and operations management,finance and economics,marketing,industrial engineering,operations research,and optimal control. He is known for his developments of the Sethi advertising model and DNSS Points,and for his textbook on optimal control.
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Wayne Leslie Winston is an American academic who serves as Professor Emeritus of Decision and Information Systems at the Kelley School of Business at Indiana University.
Eva Dorothy Regnier is a decision scientist whose research concerns the interaction between human decision-making and environmental prediction. She is a professor of decision science in the Graduate School of Business and Public Policy of the Naval Postgraduate School.
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K-convexity in Rn is a mathematical concept.
Alok Gupta is an American information scientist,economic engineer,and academic. He is the Professor of Information and Decision,a Senior Associate Dean of Faculty,Research and Administration,and Curtis L. Carlson School Wide Chair in Information Management in the Carlson School of Management at the University of Minnesota.
References
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- ↑ Gallego, Guillermo; Simchi-Levi, David (February 24, 1990). "On the Effectiveness of Direct Shipping Strategy for the One-Warehouse Multi-Retailer R-Systems". Management Science. 36 (2): 240–243. doi:10.1287/mnsc.36.2.240 – via CrossRef.
- ↑ Gallego, Guillermo; Moon, Ilkyeong (1993). "The Distribution Free Newsboy Problem: Review and Extensions". The Journal of the Operational Research Society. pp. 825–834. doi:10.2307/2583894 – via JSTOR.
- ↑ Gallego, Guillermo; van Ryzin, Garrett (August 24, 1994). "Optimal Dynamic Pricing of Inventories with Stochastic Demand over Finite Horizons". Management Science. 40 (8): 999–1020. doi:10.1287/mnsc.40.8.999 – via CrossRef.
- ↑ Feng, Youyi; Gallego, Guillermo (August 24, 1995). "Optimal Starting Times for End-of-Season Sales and Optimal Stopping Times for Promotional Fares". Management Science. 41 (8): 1371–1391. doi:10.1287/mnsc.41.8.1371 – via CrossRef.
- ↑ Gallego, Guillermo; van Ryzin, Garrett (February 24, 1997). "A Multiproduct Dynamic Pricing Problem and Its Applications to Network Yield Management". Operations Research. 45 (1): 24–41. doi:10.1287/opre.45.1.24 – via CrossRef.
- ↑ "Integrating Replenishment Decisions with Advance Demand Information | Management Science".
- ↑ "Revenue Management of Callable Products | Management Science".
- ↑ Davis, James M.; Gallego, Guillermo; Topaloglu, Huseyin (April 24, 2014). "Assortment Optimization Under Variants of the Nested Logit Model". Operations Research. 62 (2): 250–273. doi:10.1287/opre.2014.1256 – via CrossRef.
- ↑ Blanchet, Jose; Gallego, Guillermo; Goyal, Vineet (August 24, 2016). "A Markov Chain Approximation to Choice Modeling". Operations Research. 64 (4): 886–905. doi:10.1287/opre.2016.1505 – via CrossRef.
- ↑ Chen, Ningyuan; Gallego, Guillermo (October 7, 2021). "A Primal-dual Learning Algorithm for Personalized Dynamic Pricing with an Inventory Constraint". arXiv: 1812.09234 . doi:10.48550/arXiv.1812.09234 – via arXiv.org.
- ↑ Gallego, Guillermo; Berbeglia, Gerardo (December 15, 2023). "Bounds and Heuristics for Multiproduct Pricing". Management Science. doi:10.1287/mnsc.2021.04173 – via CrossRef.
- ↑ "Historical Award – Revenue Managment and Pricing Section". connect.informs.org.
- ↑ "INFORMS Fellows: Class of 2012". INFORMS.
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