A new method for routing salespersons

A new heuristic solution methodology for solving large-scale “traveling salesman” problems is presented. Significant features of the new procedure includes a rapid identification of node location and positive stopping.     

Stochastic loss reserving: A new perspective from a Dirichlet model

Forecasting the outstanding claim liabilities to set adequate reserves is critical for a nonlife insurer's solvency. Chain–Ladder and Bornhuetter–Ferguson are two prominent actuarial approaches used for this task. The selection between the two approaches is often ad hoc due to different underlying assumptions. We introduce a Dirichlet model that provides a common statistical framework for the two approaches, with some appealing properties. Depending on the type of information available, the model inference naturally leads to either Chain–Ladder or Bornhuetter–Ferguson prediction. Using claims data on Worker's compensation insurance from several U.S. insurers, we discuss both frequentist and Bayesian inference.     

Buying an industrial service warehouse space

This paper reports the results of a study of the industrial buyer of warehouse space. The role of the purchasing agent and the other members in the buy group are identified and evaluated.     

A critical review of recent organizational buying research

The purposes of this article are to examine the major contributions toward understanding industrial buying behavior and to suggest possible areas for future research. Many of the more recent studies have attempted to apply research findings in communications theory, consumer behavior, quantitative methods, and managerial decision theory in defining the decision process which constitutes industrial buying behavior. These research efforts have not been thoroughly evaluated.