Monday, September 30
1:00 p.m.–2:15 p.m.
Matt Drake, PhD, CFPIM
Director of International Business Programs | Associate Professor of Supply Chain Management |
Duquesne University |
Palumbo-Donahue School of Business
When faced with a stockout, many people are willing to wait. As the desired item’s availability nears, even more customers are willing to accept a back order. Researchers have modeled this back ordering rate as an exponential or rational function. This session will investigate a comprehensive numerical analysis that compares models with constant backordering rates and those with linearly changing rates to models with an exponential or rational rate—with surprising results.