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Stillness is the Key
by Ryan HolidayThroughout history, there's been one indelible quality that great leaders, makers, artists and fighters have shared. The Zen Buddhists described it as inner peace, the Stoics called it ataraxia and Ryan Holiday calls it stillness: the ability to be steady, focussed and calm in a constantly busy world.This quality, valued by every major school of thought from Buddha to Seneca, John Stuart Mill to Nietzsche, is urgently necessary today. And, Holiday shows, it is entirely attainable. Just as Winston Churchill used bricklaying as a time to recharge and reflect, or Oprah Winfrey learned deep empathy from her quiet childhood, we can all benefit from stillness to feed into our greater ambitions - whether winning a battle, building abusiness, or simply finding happiness, peace and self-direction.Filled with wisdom and examples from historical and contemporary figures, this book shows how to cultivate this quality in your own life. Because stillness is not merely inactivity, but the doorway to the self-mastery, discipline and focus necessary to succeed in this competitive, noisy world.
Stinkin' Thinkin: 37 Mental Mistakes, False Beliefs, & Superstitions That Can Ruin Your Life & Career
by Gary S. GoodmanThe US space program faced a problem. Astronauts didn't have a pen that could write inside a zero-gravity capsule. NASA invested upward of $1 million to devise a pen that could.Their rivals faced the same problem, but they solved it for less than a dollar. They decided to use a pencil.This story is emblematic of two styles of critical thinking and problem solving. America defined its quandary as a pen problem. "Fix the pen" became the marching order.Others defined the issue as a writing challenge, so alternatives were more likely to be considered and adopted.Most people lose friends, happiness, and career opportunities because they employ inadequate thinking skills and allow biases, false beliefs, and superstitions to govern their behavior. Even highly skilled professionals, such as physicians and attorneys, are not immune from bad thinking and runaway emotions. They can cost their clients fortunes and even their lives through poor advice and misdiagnoses.This unique book will help you to:Identify the strengths and limitations of your dominant thinking stylesConsider various models for tackling common and unusual challengesApply case studies and hands-on opportunities to use different methods to analyze problems and generate multiple effective responsesAdopt easy methods for creating clarity in thought and written and verbal communicationsTake practical pathways to success
Stinking Rich: The Four Myths of the Good Billionaire
by Carl RhodesBillionaires are an ultra-elite social class whose numbers are growing alongside their obscene wealth while others struggle, suffer or even die. They represent a scourge of economic inequality, but how do they get away with it? A set of dangerous and deceptive inter-connected myths portrays them as a ‘force for good’: - the ‘heroic billionaire’ asserts they are gallant protagonists of the American Dream gone global - the ‘generous billionaire’ pretends that their philanthropic efforts and personal good deeds should be lauded for generosity and benevolence - the ‘meritorious billionaire’ insists that extreme wealth is a worthy reward for individual hard work and talent - the ‘vigilante billionaire’ claims to be able to solve the world’s biggest problems where bureaucrats and politicians have failed. Each of these myths enables billionaire wealth and power to set us back to old-style feudalism and plutocracy. Offering a trenchant critique, this incisive book testifies to the growing international political will to take concrete actions in supporting economic justice and democratic equality.
Stir it Up: Lessons in Community Organizing and Advocacy
by Rinku SenStir It Up--written by renowned activist and trainer Rinku Sen--identifies the key priorities and strategies that can help advance the mission of any social change group. This groundbreaking book addresses the unique challenges and opportunities the new global economy poses for activist groups and provides concrete guidance for community organizations of all orientations.
Stirring It Up: How to Make Money and Save the World
by Gary HirshbergA true force for change, Gary Hirshberg has been at the forefront of movements working for environmental and social transformation for 30 years. From his early days as an educator and activist to his current position as President and CE-Yo of Stonyfield Farm, the world's largest organic yogurt company, Hirshberg's positive outlook has inspired thousands of people to recognize their ability to make the world a better place.In Stirring It Up, Hirshberg calls on individuals to realize their power to effect change in the marketplace--"the power of one"--while proving that environmental commitment makes for a healthier planet and a healthier bottom line. Drawing from his 25 years' experience growing Stonyfield Farm from a 7-cow start-up, as well as the examples of like-minded companies, such as Newman's Own, Patagonia, Wal-Mart and Timberland, Hirshberg presents stunning evidence that business not only can save the planet, but is able to simultaneously deliver higher growth and superior profits as well.Hirshberg illustrates his points with practical information and advice, as well as engaging anecdotes from what he calls "the bad old days" of his yogurt company: how a power outage left him milking cows by hand, how a dumpster fire revealed the need for better packaging, and his camel manure taste test challenge to a local shock jock. He also describes hands-on grassroots marketing strategies--printing yogurt lids with provocative, politically charged messages, handing out thousands of free samples to subway commuters to thank them for using public transit, and devising the country's first organic vending machine--explaining how these approaches make a much more powerful impact on consumers than traditional advertising.An inspiring book for business owners and managers as well as anyone interested in saving the environment, Stirring It Up demonstrates how companies can work to save the planet, while achieving greater profits and satisfaction, and how we can all use the power of conscious consumption to encourage green corporate behavior.
Stirring of Soul in the Workplace
by Alan BriskinThis deeply lyrical book offers perspective for those struggling to hear the quiet voice of the soul over the din of the contemporary workplace. Alan Briskin shows how the modern organization has gradually increased its demands on us-beginning with our bodies, then our minds, and now our souls. But through the moving personal stories of people fighting to reclaim their souls, he also sends a message that encourages individuals to keep their spiritual integrity and values alive. In The Stirring of Soul In the Workplace, Briskin weaves together lessons from history, psychology, and management theory, with numerous real-life examples, to tell the story of how the modern workplace has evolved to value technology and productivity over soulfulness and relationship. From the Industrial Revolution's marriage of mechanization and efficiency to the management theories of the early 20th century, Briskin traces the emergence of the quest for efficiency and control in the workplace. He questions the corporate concept of "individual personality" that asks us to check our emotions, fantasies, imaginations, and souls at the door. He describes the history of the soul as a dynamic force that continues to influence our behavior, and shows how excluding it from our work life actually flattens our potential and dampens our creativity. Rather than solve the conventional question organizations have been asking for years-how can we change people?-Alan Briskin examines how organizations can better reflect personal and human values in the workplace. For organizations that too often have sacrificed the well-being of the individual for the goals of the organization, the author suggests a more active way of taking up our work roles that can bring more of our experience and imagination into play. He points out that meaning cannot come from corporate mission statements or reengineering programs. Instead, it needs to be nurtured through dialogue and reflection, the courage to ask troubling questions, and a willingness to face the consequences of our collective and individual actions. When we learn to honor the contradictions, uncertainties, and interconnections inherent in the workplace, the energies of the soul will begin to stir with revitalizing results.
Stitching Governance for Labour Rights: Towards Transnational Industrial Democracy? (Business, Value Creation, and Society)
by Jimmy Donaghey Juliane ReineckeTransnational labour governance is in urgent need of a new paradigm of democratic participation, with those who are most affected - typically workers - placed at the centre. To achieve this, principles of industrial democracy and transnational governance must come together to inform institutions within global supply chains. This book traces the development of 'transnational industrial democracy', using responses to the 2013 Rana Plaza disaster as the empirical context. A particular focus is placed on the Bangladesh Accord and the JETI Workplace Social Dialogue programme. Drawing on longitudinal field research from 2013–2020, the authors argue that the reality of modern-day supply chain capitalism has neither optimal institutional frameworks nor effective structures of industrial relations. Informed by principles of industrial democracy, the book aims at enhancing emerging forms of private transnational governance as second-best institutions.
Stitching the 24-Hour City: Life, Labor, and the Problem of Speed in Seoul
by Seo Young ParkStitching the 24-Hour City reveals the intense speed of garment production and everyday life in Dongdaemun, a lively market in Seoul, South Korea. Once the site of uprisings against oppressive working conditions in the 1970s and 1980s, Dongdaemun has now become iconic for its creative economy, nightlife, fast-fashion factories, and shopping plazas. Seo Young Park follows the work of people who witnessed and experienced the rapidly changing marketplace from the inside. Through this approach, Park examines the meanings and politics of work in one of the world's most vibrant and dynamic global urban marketplaces.Park brings readers into close contact with the garment designers, workers, and traders who sustain the extraordinary speed of fast-fashion production and circulation, as well as the labor activists who challenge it. Attending to their narratives and practices of work, Park argues that speed, rather than being a singular drive of acceleration, is an entanglement of uneven paces of life, labor, the market, and the city itself. Stitching the 24-Hour City exposes the under-studied experiences with Dongdaemun fast fashion, peeling back layers of temporal politics of labor and urban space to record the human source of the speed that characterizes the never-ending movement of the 24-hour city.
Stochastic Analysis in Production Process and Ecology Under Uncertainty
by Bogusław BiedaThe monograph addresses a problem of stochastic analysis based on the uncertainty assessment by simulation and application of this method in ecology and steel industry under uncertainty. The first chapter defines the Monte Carlo (MC) method and random variables in stochastic models. Chapter two deals with the contamination transport in porous media. Stochastic approach for Municipal Solid Waste transit time contaminants modeling using MC simulation has been worked out. The third chapter describes the risk analysis of the waste to energy facility proposal for Konin city, including the financial aspects. Environmental impact assessment of the ArcelorMittal Steel Power Plant, in Kraków - in the chapter four - is given. Thus, four scenarios of the energy mix production processes were studied. Chapter five contains examples of using ecological Life Cycle Assessment (LCA) - a relatively new method of environmental impact assessment - which help in preparing pro-ecological strategy, and which can lead to reducing the amount of wastes produced in the ArcelorMittal Steel Plant production processes. Moreover, real input and output data of selected processes under uncertainty, mainly used in the LCA technique, have been examined. The last chapter of this monograph contains final summary. The log-normal probability distribution, widely used in risk analysis and environmental management, in order to develop a stochastic analysis of the LCA, as well as uniform distribution for stochastic approach of pollution transport in porous media has been proposed. The distributions employed in this monograph are assembled from site-specific data, data existing in the most current literature, and professional judgment.
Stochastic Approximation: A Dynamical Systems Viewpoint (Texts and Readings in Mathematics #48)
by Vivek S. BorkarThis book serves as an advanced text for a graduate course on stochastic algorithms for the students of probability and statistics, engineering, economics and machine learning. This second edition gives a comprehensive treatment of stochastic approximation algorithms based on the ordinary differential equation (ODE) approach which analyses the algorithm in terms of a limiting ODE. It has a streamlined treatment of the classical convergence analysis and includes several recent developments such as concentration bounds, avoidance of traps, stability tests, distributed and asynchronous schemes, multiple time scales, general noise models, etc., and a category-wise exposition of many important applications. It is also a useful reference for researchers and practitioners in the field.
Stochastic Approximation: Second Edition (Texts and Readings in Mathematics #48)
by Vivek S. BorkarThis book serves as an advanced text for a graduate course on stochastic algorithms for graduate students in probability and statistics, engineering, economics and machine learning. This second edition gives a comprehensive treatment of stochastic approximation algorithms based on the “ordinary differential equation (ODE) approach” which analyses the algorithm in terms of a limiting ODE. It has a streamlined treatment of the classical convergence analysis and includes several recent developments such as concentration bounds, avoidance of traps, stability tests, distributed and asynchronous schemes, multiple time scales, general noise models, etc., and a category-wise exposition of many important applications. It is also a useful reference for researchers and practitioners in the field.
Stochastic Averaging and Stochastic Extremum Seeking
by Shu-Jun Liu Miroslav KrsticStochastic Averaging and Extremum Seeking treats methods inspired by attempts to understand the seemingly non-mathematical question of bacterial chemotaxis and their application in other environments. The text presents significant generalizations on existing stochastic averaging theory developed from scratch and necessitated by the need to avoid violation of previous theoretical assumptions by algorithms which are otherwise effective in treating these systems. Coverage is given to four main topics. Stochastic averaging theorems are developed for the analysis of continuous-time nonlinear systems with random forcing, removing prior restrictions on nonlinearity growth and on the finiteness of the time interval. The new stochastic averaging theorems are usable not only as approximation tools but also for providing stability guarantees. Stochastic extremum-seeking algorithms are introduced for optimization of systems without available models. Both gradient- and Newton-based algorithms are presented, offering the user the choice between the simplicity of implementation (gradient) and the ability to achieve a known, arbitrary convergence rate (Newton). The design of algorithms for non-cooperative/adversarial games is described. The analysis of their convergence to Nash equilibria is provided. The algorithms are illustrated on models of economic competition and on problems of the deployment of teams of robotic vehicles. Bacterial locomotion, such as chemotaxis in E. coli, is explored with the aim of identifying two simple feedback laws for climbing nutrient gradients. Stochastic extremum seeking is shown to be a biologically-plausible interpretation for chemotaxis. For the same chemotaxis-inspired stochastic feedback laws, the book also provides a detailed analysis of convergence for models of nonholonomic robotic vehicles operating in GPS-denied environments. The book contains block diagrams and several simulation examples, including examples arising from bacterial locomotion, multi-agent robotic systems, and economic market models. Stochastic Averaging and Extremum Seeking will be informative for control engineers from backgrounds in electrical, mechanical, chemical and aerospace engineering and to applied mathematicians. Economics researchers, biologists, biophysicists and roboticists will find the applications examples instructive.
Stochastic Benchmarking: Theory and Applications (International Series in Operations Research & Management Science #317)
by Vincent Charles Alireza Amirteimoori Biresh K. Sahoo Saber MehdizadehThis book introduces readers to benchmarking techniques in the stochastic environment, primarily stochastic data envelopment analysis (DEA), and provides stochastic models in DEA for the possibility of variations in inputs and outputs. It focuses on the application of theories and interpretations of the mathematical programs, which are combined with economic and organizational thinking. The book’s main purpose is to shed light on the advantages of the different methods in deterministic and stochastic environments and thoroughly prepare readers to properly use these methods in various cases. Simple examples, along with graphical illustrations and real-world applications in industry, are provided for a better understanding. The models introduced here can be easily used in both theoretical and real-world evaluations. This book is intended for graduate and PhD students, advanced consultants, and practitioners with an interest in quantitative performance evaluation.
Stochastic Calculus and Applications
by Robert J. Elliott Samuel N. CohenCompletely revised and greatly expanded, the new edition of this text takes readers who have been exposed to only basic courses in analysis through the modern general theory of random processes and stochastic integrals as used by systems theorists, electronic engineers and, more recently, those working in quantitative and mathematical finance. Building upon the original release of this title, this text will be of great interest to research mathematicians and graduate students working in those fields, as well as quants in the finance industry. New features of this edition include: End of chapter exercises; New chapters on basic measure theory and Backward SDEs; Reworked proofs, examples and explanatory material; Increased focus on motivating the mathematics; Extensive topical index. "Such a self-contained and complete exposition of stochastic calculus and applications fills an existing gap in the literature. The book can be recommended for first-year graduate studies. It will be useful for all who intend to work with stochastic calculus as well as with its applications. "-Zentralblatt (from review of the First Edition)
Stochastic Calculus and Differential Equations for Physics and Finance
by Joseph L. MccauleyStochastic calculus provides a powerful description of a specific class of stochastic processes in physics and finance. However, many econophysicists struggle to understand it. This book presents the subject simply and systematically, giving graduate students and practitioners a better understanding and enabling them to apply the methods in practice. The book develops Ito calculus and Fokker-Planck equations as parallel approaches to stochastic processes, using those methods in a unified way. The focus is on nonstationary processes, and statistical ensembles are emphasized in time series analysis. Stochastic calculus is developed using general martingales. Scaling and fat tails are presented via diffusive models. Fractional Brownian motion is thoroughly analyzed and contrasted with Ito processes. The Chapman-Kolmogorov and Fokker-Planck equations are shown in theory and by example to be more general than a Markov process. The book also presents new ideas in financial economics and a critical survey of econometrics.
Stochastic Calculus for Finance
by Janusz Traple Ekkehard Kopp Marek CapinskiThis book focuses specifically on the key results in stochastic processes that have become essential for finance practitioners to understand. The authors study the Wiener process and Itô integrals in some detail, with a focus on results needed for the Black-Scholes option pricing model. After developing the required martingale properties of this process, the construction of the integral and the Itô formula (proved in detail) become the centrepiece, both for theory and applications, and to provide concrete examples of stochastic differential equations used in finance. Finally, proofs of the existence, uniqueness and the Markov property of solutions of (general) stochastic equations complete the book. Using careful exposition and detailed proofs, this book is a far more accessible introduction to Itô calculus than most texts. Students, practitioners and researchers will benefit from its rigorous, but unfussy, approach to technical issues. Solutions to the exercises are available online.
Stochastic Choice Theory (Econometric Society Monographs)
by Tomasz StrzaleckiModels of stochastic choice are studied in decision theory, discrete choice econometrics, behavioral economics and psychology. Numerous experiments show that perception of stimuli is not deterministic, but stochastic (randomly determined). A growing body of evidence indicates that the same is true of economic choices. Whether trials are separated by days or minutes, the fraction of choice reversals is substantial. Stochastic Choice Theory offers a systematic introduction to these models, unifying insights from various fields. It explores mathematical models of stochastic choice, which have a variety of applications in game theory, industrial organization, labor economics, marketing, and experimental economics. Offering a systematic introduction to the field, this book builds up from scratch without any prior knowledge requirements and surveys recent developments, bringing readers to the frontier of research.
Stochastic Control in Discrete and Continuous Time
by Atle SeierstadThis book provides a comprehensive introduction to stochastic control problems in discrete and continuous time. The material is presented logically, beginning with the discrete-time case using few mathematical tools before proceeding to the stochastic continuous-time models requiring more advanced mathematics. Topics covered include stochastic maximum principles for discrete time, continuous time, and for problems with terminal conditions. A nonstandard treatment of piecewise deterministic problems, related to some control problems, is also presented. Numerous illustrative examples and exercises are included to enhance the understanding of the reader. By interlinking many fields in stochastic control, the material gives the student the opportunity to see the connections between different fields and the underlying ideas that unify them. This text will be of benefit to students in economics, engineering, applied mathematics and related fields. Prerequisites include a course in calculus and elementary probability theory.
Stochastic Discounted Cash Flow: A Theory of the Valuation of Firms (Springer Texts in Business and Economics)
by Andreas Löffler Lutz KruschwitzThis open access book discusses firm valuation, which is of interest to economists, particularly those working in finance. Firm valuation comes down to the calculation of the discounted cash flow, often only referred to by its abbreviation, DCF. There are, however, different coexistent versions, which seem to compete against each other, such as entity approaches and equity approaches. Acronyms are often used, such as APV (adjusted present value) or WACC (weighted average cost of capital), two concepts classified as entity approaches.This book explains why there are several procedures and whether they lead to the same result. It also examines the economic differences between the methods and indicates the various purposes they serve. Further it describes the limits of the procedures and the situations they are best applied to. The problems this book addresses are relevant to theoreticians and practitioners alike.
Stochastic Dominance
by Haim LevyThis fully updated third edition is devoted to the analysis of various Stochastic Dominance (SD) decision rules. It discusses the pros and cons of each of the alternate SD rules, the application of these rules to various research areas like statistics, agriculture, medicine, measuring income inequality and the poverty level in various countries, and of course, to investment decision-making under uncertainty. The book features changes and additions to the various chapters, and also includes two completely new chapters. One deals with asymptotic SD and the relation between FSD and the maximum geometric mean (MGM) rule (or the maximum growth portfolio). The other new chapter discusses bivariate SD rules where the individual's utility is determined not only by his own wealth, but also by his standing relative to his peer group. Stochastic Dominance: Investment Decision Making under Uncertainty, 3rd Ed. covers the following basic issues: the SD approach, asymptotic SD rules, the mean-variance (MV) approach, as well as the non-expected utility approach. The non-expected utility approach focuses on Regret Theory (RT) and mainly on prospect theory (PT) and its modified version, cumulative prospect theory (CPT) which assumes S-shape preferences. In addition to these issues the book suggests a new stochastic dominance rule called the Markowitz stochastic dominance (MSD) rule corresponding to all reverse-S-shape preferences. It also discusses the concept of the multivariate expected utility and analyzed in more detail the bivariate expected utility case. From the reviews of the second edition: "This book is an economics book about stochastic dominance. . . . is certainly a valuable reference for graduate students interested in decision making under uncertainty. It investigates and compares different approaches and presents many examples. Moreover, empirical studies and experimental results play an important role in this book, which makes it interesting to read. " (Nicole Bäuerle, Mathematical Reviews, Issue 2007 d)
Stochastic Dominance Option Pricing: An Alternative Approach to Option Market Research
by Stylianos PerrakisThis book illustrates the application of the economic concept of stochastic dominance to option markets and presents an alternative option pricing paradigm to the prevailing no arbitrage simultaneous equilibrium in the frictionless underlying and option markets. This new methodology was developed primarily by the author, working independently or jointly with other co-authors, over the course of more than thirty years. Among others, it yields the fundamental Black-Scholes-Merton option value when markets are complete, presents a new approach to the pricing of rare event risk, and uncovers option mispricing that leads to tradeable strategies in the presence of transaction costs. In the latter case it shows how a utility-maximizing investor trading in the market and a riskless bond, subject to proportional transaction costs, can increase his/her expected utility by overlaying a zero-net-cost portfolio of options bought at their ask price and written at their bid price, irrespective of the specific form of the utility function. The book contains a unified presentation of these methods and results, making it a highly readable supplement for educators and sophisticated professionals working in the popular field of option pricing. It also features a foreword by George Constantinides, the Leo Melamed Professor of Finance at the Booth School of Business, University of Chicago, USA, who was a co-author in several parts of the book.
Stochastic Dominance and Applications to Finance, Risk and Economics
by Songsak Sriboonchita Wing-Keung Wong Sompong Dhompongsa Hung T. NguyenDrawing from many sources in the literature, Stochastic Dominance and Applications to Finance, Risk and Economics illustrates how stochastic dominance (SD) can be used as a method for risk assessment in decision making. It provides basic background on SD for various areas of applications. Useful Concepts and Techniques for Economics ApplicationsThe
Stochastic Finance with Python: Design Financial Models from Probabilistic Perspective
by Avishek NagJourney through the world of stochastic finance from learning theory, underlying models, and derivations of financial models (stocks, options, portfolios) to the almost production-ready Python components under cover of stochastic finance. This book will show you the techniques to estimate potential financial outcomes using stochastic processes implemented with Python. The book starts by reviewing financial concepts, such as analyzing different asset types like stocks, options, and portfolios. It then delves into the crux of stochastic finance, providing a glimpse into the probabilistic nature of financial markets. You’ll look closely at probability theory, random variables, Monte Carlo simulation, and stochastic processes to cover the prerequisites from the applied perspective. Then explore random walks and Brownian motion, essential in understanding financial market dynamics. You’ll get a glimpse of two vital modelling tools used throughout the book - stochastic calculus and stochastic differential equations (SDE). Advanced topics like modeling jump processes and estimating their parameters by Fourier-transform-based density recovery methods can be intriguing to those interested in full-numerical solutions of probability models. Moving forward, the book covers options, including the famous Black-Scholes model, dissecting it from both risk-neutral probability and PDE perspectives. A chapter at the end also covers the discovery of portfolio theory, beginning with mean-variance analysis and advancing to portfolio simulation and the efficient frontier. What You Will Learn Understand applied probability and statistics with finance Design forecasting models of the stock price with the stochastic process, Monte-Carlo simulation. Option price estimation with both risk-neutral probabilistic and PDE-driven approach. Use Object-oriented Python to design financial models with reusability. Who This Book Is For Data scientists, quantitative researchers and practitioners, software engineers and AI architects interested in quantitative finance
Stochastic Financial Models (Chapman and Hall/CRC Financial Mathematics Series)
by Douglas KennedyFilling the void between surveys of the field with relatively light mathematical content and books with a rigorous, formal approach to stochastic integration and probabilistic ideas, Stochastic Financial Models provides a sound introduction to mathematical finance. The author takes a classical applied mathematical approach, focusing on calculations
Stochastic Imperfect Inventory Systems: Inventory and Production Management
by Ata Allah TaleizadehIn today’s manufacturing environment, managing inventories is one of the basic concerns of enterprises dealing with materials according to their activities. This book introduces and examines important production strategies such as scrap strategy and rework strategy under stochastic conditions that contribute to the reduction of unexpected costs. In a step-by-step manner, it presents stochastic imperfect inventory models, inventory models involving rework processes or breakdowns, as well as their maintenance. Also, different aspects of uncertainty are provided in multiple chapters of this book.One of the primary questions answered in this book is: What is the optimal production quantity when there is a failure in the production line? To answer the question, the problem is first modelled mathematically, then the concavity or convexity of the objective function is proved and finally the optimal production quantity of the production system is determined using suitable solution methods. The book is valuable for researchers in operations research and inventory management and professionals working with supply chains.