"Extra!" Using the Newsvendor Model to Optimize War Reserve Storage

The United States Marine Corps (USMC) Installation and Logistics Command requested a study for determining appropriate inventory levels of war reserve materiel to meet future operational needs under surge demands in uncertain environments. This study sought to explore a potential approach by using the common newsvendor model, but modified for a military scenario. The authors’ novel version of this core concept considers the purchase and storage costs of an item and proposes an intangible cost function to capture the consequences of a shortage. Further, they show a sample application of the model using a ubiquitous military item—the BA-5590/U battery. The output of the model provides USMC with a new tool to optimize inventory levels of a given item of interest, depending on scenario inputs.

“Extra!” Using the Newsvendor Model to Optimize War Reserve Storage

The United States Marine Corps (USMC) Installation and Logistics Command requested a study for determining appropriate inventory levels of war reserve materiel to meet future operational needs under surge demands in uncertain environments. This study sought to explore a potential approach by using the common newsvendor model, but modified for a military scenario. The authors’ novel version of this core concept considers the purchase and storage costs of an item and proposes an intangible cost function to capture the consequences of a shortage. Further, they show a sample application of the model using a ubiquitous military item—the BA-5590/U battery. The output of the model provides USMC with a new tool to optimize inventory levels of a given item of interest, depending on scenario inputs.

Displacement, marginalization and changing economic structure: counting the intangible costs of riverbank erosion in Majuli island of India

<p>The paper focuses on the impact of riverbank erosion on the island of Majuli. Majuli is a large and populous river island in the India state of Assam. However, the island suffers from the erosional work of Rivers Brahmaputra in the south and Luhit in the north and this has led to the loss of land and the resultant displacement of population in 110 out of 243 villages of Majuli. The most significant impact of riverbank erosion has been on the livelihood pattern of the island, as erosion has affected both agriculture and fishing activities. However, the impact of erosion is not felt equally by the entire population of Majuli. Those who live near the banks of the river are disproportionately affected by erosion, while those living in the more central parts of the island have benefitted from it by using the changing economic structure of the island. Riverbank erosion has thus, had a profound impact on the society, economy and livelihood structure of the island and has created a more unequal society. The paper tries to count this intangible cost of riverbank erosion by analyzing the disparity in the economic impact of riverbank erosion from the perspective of political ecology with the help of survey and personal interviews carried out in Majuli.</p><p><strong>Keywords:</strong> Majuli, Brahmaputra, Riverbank Erosion, Displacement, Economic Impact, Political Ecology</p>

Economic Burden of Diabetes among Women

The article provides estimates of economic burden of diabetes among women. The study was based on primary data collected from Jalandhar. The article examines the direct, indirect and intangible cost of diabetes. The result indicates that mean cost of outpatient care of consultation, lab investigations, medicines, special diet and transport was ₹203.53, ₹535.50, ₹515.0, ₹258.80 and ₹120.30, respectively. While, mean cost of inpatient care of consultation, lab investigations, room charges, medicines, special diet and transport was ₹1157.00, ₹1468.75, ₹1354.50, ₹4175.50, ₹680.0 and ₹278.65, respectively. The analysis shows that the mean cost of inpatient care was higher than that of outpatient care. Intangible cost of diabetes involved reduced food consumption, borrowing from neighbours/relatives, decreased non-food consumption, decreased savings, decreased social obligations/functions, stopped purchase/expansion of house, sale of household assets, stopped medical treatment of other members in the family and stopped the purchase of consumer durables. These figures are compelling enough to stimulate government to take corrective actions to address the risk factors that contribute to diabetes. Immediate action is needed to stem the tide of diabetes and to introduce cost-effective treatment to reverse this trend. Healthcare policy planners must anticipate and respond to socio-economic implications, ideally through preventive as well as curative measures.