The One-Dimensional Cutting Stock Problem consists in cutting long bars into smaller ones, to satisfy customers’ demand, minimizing waste and cost. In this paper the standard problem is extended with the inclusion of additional constraints that are generally neglected in scientific literature, although relevant in many industrial applications. We also modified the standard objective function, by assuming that bars may have a different economical value and a different processing or shipping priority. Moreover, in line with business requirements, among solutions that generate the same cutting waste, we prefer the ones that generate a low number of leftovers, especially if leftovers are long, so that the likelihood of their reuse is high. To solve the problem, we propose a Simulated Annealing based heuristic, which exploits a specific neighbor search. The heuristic is implemented in a parametric way that allows the user to set the priorities of the bars and to choose the specific sub-set of constraints he or she wants to consider. The heuristic is finally tested on many problem instances, and it is compared to three benchmarks and to one commercial software. The outcomes of this comparative analysis demonstrate both its quality and effectiveness.

With Newsvendor Problem (NvP) we refer to a specific class of inventory management problems, valid for a single item with stochastic demand over a single period. In the standard version, the newsvendor is allowed to issue a single order, before he or she can observe the actual demand. Since the newsvendor can face both overage and underage costs, due to lost sales or residual stock, the objective is to define the optimal order size that maximizes the expected profit. In this paper, we consider a specific version of the NvP, in which the buyer has the opportunity to make a last and single order for opportunistic reasons. Specifically, we consider discontinued, collectible items, for which demand will not vanish and whose value might appreciate. Hence, the objective is to define the optimal quantity that should be purchased, just before the item is retired from the market or sold-out, and that should be sold as soon as the price rises over a predefined target level. An optimal solution, maximizing the expected profit, is obtained both in case of negligible and non-negligible stockholding costs. In the latter case, to obtain the optimal solution in implicit form, some simplifying assumptions are needed. Hence, a thorough numerical analysis is finally performed, as a way to empirically demonstrate both the robustness and the accuracy of the model, in several scenarios differentiated in terms of costs and customers’ demand.

In this paper, the focus is on mechanical systems that, like a ship or a submarine, perform risky missions and that must remain operating for the whole mission time. Missions take place far from the operational base and so, in case of failures, although repairs are possible, spares parts cannot be resupplied. Hence, given space constraints, the problem is to define the optimal set of spare parts that should be taken aboard, to maximize the probability to complete the mission. To solve this problem, we propose a constructive algorithm that generates the Pareto Optimal Frontier of all the non-dominated solutions, in terms of the system’s reliability and of required space. At first, the algorithm is formulated in a generic way; next, it is contextualized to the common case of Weibull distributed failure times. In this condition, the underlying equations of the model cannot be solved in closed form and an approximated procedure is proposed and validated through extensive numerical simulation.