My main research interests are in the design and analysis of supply chains and service systems using stochastic models.
The list below contains electronic versions of my current working papers as well as some of my earlier publications.
You can also find the names of my former and current graduate students here.
Journal Publications
Canyakmaz C., S. Ozekici and F. Karaesmen, Risk Management through Financial Hedging in Inventory Systems with Stochastic Price Processes, International Journal of Production Economics, Vol. 270, 2024
Manou A., P.G. Canbolat and F. Karaesmen, Strategic Heterogeneous Customers in a Transportation Station: Information and Pricing, Manufacturing and Service Operations Management, Vol. 54. pp. 113-124, 2023
Akcay Y. and F. Karaesmen, The Customer Knows Best: Pricing Policies for Random Quality Products, Decision Sciences, Vol.54 (1), pp. 113-124, 2023
Neghab D.P. , S. Khayyati and F. Karaesmen, An Integrated Data-Driven Method Using Deep Learning for a Newsvendor Problem with Unobservable Features, European Journal of Operational Research, Vol. 302, pp. 482-496, 2022
Canyakmaz C., S. Ozekici and F. Karaesmen, A Newsvendor Problem with Markup Pricing in the Presence of Within-period Fluctuations, European Journal of Operational Research, 301(1), pp. Vol. 301, pp. 153-162, 2022
Canyakmaz C., S. Ozekici, F. Karaesmen, An inventory model where customer demand is dependent on a stochastic price process, International Journal of Production Economics, Vol. 212, pp. 139-152, 2019
Turgay Z.Z., F. Karaesmen, E. L. Ormeci, Structural Properties of Class of Robust Queueing and Inventory Control Problems, Naval Research Logistics, Vol. 65, pp. 699-716, 2018.
Vercraene S., J.P. Gayon and F. Karaesmen, Effects of system parameters on the optimal cost and policy in a class of multi-dimensional queueing control problems, Operations Research, Vol. 66, pp. 150-162, 2018. Online Appendix.
Canyakmaz C., F. Karaesmen, S. Ozekici, Minimum-variance hedging for managing risks in inventory models with price fluctuations, Foundations and Trends in Technology, Information and Operations Management, Vol. 11, pp. 117-123, 2017.
Manou A., P.G. Canbolat, F. Karaesmen, Pricing in a Transportation Station with Strategic Customers, Production and Operations Management, Vol. 26, pp. 1632-1645, 2017.
Pun C., D. Klabjan, F. Karaesmen, S. Shebalov. Itinerary-Based Nesting Control with Upsell. Journal of Revenue and Pricing Management, Vol. 15, pp. 107-137, 2016.
Turgay Z.Z., F. Karaesmen, E. L. Ormeci. A Dynamic Inventory Rationing Problem with Uncertain Production and Demand Rates, Annals of Operations Research, Vol. 231, pp. 207-228, 2015.
Okyay H.K., F. Karaesmen, S. Özekici, Hedging Demand and Supply Risks in the Newsvendor Model, OR Spectrum, Vol. 37, pp. 475-501, 2015.
Aksin O.Z., Cakan N., F. Karaesmen and. E.L. Ormeci, Flexibility Structure and Capacity Design with Human Resource Considerations, Production and Operations Management, Vol. 24, pp. 1086-1100, 2015.
Özkan C., F. Karaesmen and S. Özekici, A Revenue Management Problem with a Choice Model of Consumer Behavior in a Random Environment, OR Spectrum, Vol. 37, pp. 457-473, 2015.
Jouini, O., Aguir M.S. , O.Z Aksin, F. Karaesmen, Y. Dallery, Call Center Delay Announcement Based Using a Newsvendor Like Performance Criterion, Appendix, and Supplementary Results, Production and Operations Management, Vol, 24, pp. 587-604, 2015.
Turgay Z., F. Karaesmen and L. Ormeci, A Dynamic Inventory Rationing Problem with Uncertain Demand and Production Rates, Annals of Operations Research, Vol. 231, pp. 207-228, 2015.
Manou A., A. Economou, F. Karaesmen, Strategic Customers in a Transportation Station: When is it Optimal to Wait?, Operations Research, Vol. 62, pp. 910-925, 2014.
Sayın F., F. Karaesmen and S. Ozekici, Newsvendor Model with Random Supply and Financial Hedging: Utility-Based Approach, International Journal of Production Economics, Vol. 154, pp. 178-189, 2014.
Okyay H.K., F. Karaesmen and S. Ozekici, Newsvendor Models with Dependent Random Supply and Demand, Optimization Letters, Vol. 8, pp. 983-999, 2014.
Ozkan C., F. Karaesmen and S. Ozekici, Structural Properties of Markov-Modulated Revenue Management Problems, European Journal of Operational Research, Vol. 225, pp. 324-331, 2013.
Cil E.B., F. Karaesmen and L. Ormeci, Dynamic Pricing and Scheduling in a Multi-Class Single-Server Queueing System, Queueing Systems, Vol. 67, pp. 305-331, 2011.
Aydin S., Y. Akcay, and F. Karaesmen, On the Structural Properties of a Discrete-Time Single-Product Revenue Management Problem, Operations Research Letters, Vol. 37, pp. 273-279, 2009.
Cil. E.B, E.L. Ormeci and F. Karaesmen, Effects of System Parameters on the Optimal Policy Structure in a Class of Queueing Control Problems ,Queueing Systems, Vol. 61, pp. 273-304, 2009.
Gayon, J.-P., F. de Véricourt, and F. Karaesmen, Stock Rationing in an M/Er/1 Multi-class Make-to-Stock Queue with Backorders, IIE Transactions, Vol.41 pp. 1096-1109, 2009.
Yucel E., F. Karaesmen, F.S. Salman, M. Turkay, Optimizing Product Assortment under Customer-Driven Demand Substitution, European Journal of Operational Research, Vol.199, pp. 759-768,2009.
Gayon J.-P., I. Talay, F. Karaesmen, and E.L. Ormeci, Dynamic Pricing and Replenishment in a Production/Inventory System with Markov-Modulated Demand, Probability in the Engineering and Informational Sciences, Vol. 23, pp. 205-230, 2009.
Ozler A., B. Tan and F. Karaesmen, Multi-Product Newsvendor Problem with Value-at-Risk Considerations, International Journal of Production Economics, Vol. 117, pp. 244-255, 2009
Agrali S., B. Tan and F. Karaesmen, Modeling and Analysis of an Auction-Based Logistics Market, European Journal of Operational Research, Vol. 191, pp. 272-294, 2008.
M.S. Aguir, O.Z. Aksin, F. Karaesmen and Y. Dallery, On the Interaction Between Retrials and Sizing of Call Centers, European Journal of Operational Research, Vol. 191, pp. 398-408, 2008
Uckun C., F. Karaesmen, and S. Savas, Investment in Improved Inventory Accuracy in a Decentralized Supply Chain, International Journal of Production Economics, Vol. 113, pp. 546-566, 2008.
Aksin O.Z., F. de Véricourt, and F. Karaesmen, Call Center Outsourcing Contract Design and Choice, Management Science, Vol. 54, pp. 354-368 , 2008.
Cil E.B., E.L. Ormeci, and F. Karaesmen, Structural Results on a Batch Acceptance Problem, Mathematical Methods in Operations Research, Vol. 66, pp. 263-274, 2007.
Wijngaard J. and F. Karaesmen, On the Optimality of Order Base-Stock Policies in Case of Advance Demand Information in Combination with a Restricted Capacity, Vol. 29, pp. 643-660, OR Spectrum, 2007.
Aksin O.Z. and F. Karaesmen, Characterizing the Performance of Process Flexibility Structures, Operations Research Letters, Vol. 35, pp. 477-484, 2007.
Gurkan G., F. Karaesmen, and O. Ozdemir, Optimal Threshold Levels in Stochastic Fluid Models via Simulation-Based Optimization, Discrete Event Dynamic Systems, Vol. 17, pp. 53-97, 2007.
Jemai Z. and F. Karaesmen, Decentralized Inventory Control in a Two-Stage Capacitated Supply Chain, IIE Transactions, Vol. 39, pp. 501-512, 2007.
Saharidis G., Y. Dallery and F. Karaesmen, Centralized versus Decentralized Production Planning, RAIRO – Recherche Operationnelle-Operations Research, Vol.: 40, pp. 113-128, 2006.
Yildirim I., B. Tan and F. Karaesmen, A Multi-period Stochastic Production and Sourcing Problem with Service Level Constraints, OR Spectrum, Vol. 27, pp. 471-489, 2005.
Jemai, Z. and F. Karaesmen, The Influence of Demand Variability on the Performance of a Make-to-Stock Queue, European Journal of Operational Research, Vol. 164, pp. 195-205, 2005.
Aguir M.S., F. Karaesmen, O. Z. Aksin, and F. Chauvet, The Impact of Retrials on Call Center Performance, OR Spectrum, Vol. 26, pp. 353-376, 2004.
Karaesmen F., G. Liberopoulos and Y. Dallery, The Value of Advance Demand Information in Production/Inventory Systems, Annals of Operations Research, Vol. 126, pp.135-157, 2004.
de Véricourt F., F. Karaesmen and Y. Dallery, Optimal Stock Allocation for a Capacitated Supply System, Management Science, Vol. 48, pp. 1486-1501, 2002.
Karaesmen F., J.A. Buzacott and Y. Dallery, Integrating Advance Order Information in Make-to-Stock Production Systems, IIE Transactions, Vol. 34, No. 8, pp. 649-662, 2002.
de Véricourt F., F. Karaesmen and Y. Dallery, Assessing the Benefits of Different Stock-Allocation Policies for a Make-to-Stock Production System, Manufacturing & Service Operations Management, Vol.3, pp. 105-121, 2001
Matta, T.Tolio, F. Karaesmen and Y. Dallery, An Integrated Approach for the Configuration of Automated Manufacturing Systems, Robotics and Computer Integrated Manufacturing, Vol. 17, pp. 19-26, 2001.
de Véricourt F., F. Karaesmen and Y. Dallery, Dynamic Scheduling in a Make-to-Stock System: A Partial Characterization of Optimal Policies, Operations Research, Vol. 48, pp. 811-819, 2000.
Matta A., T.Tolio, F.Karaesmen and Y. Dallery, A New System Architecture Compared with Conventional Production System Architectures, International Journal of Production Research, Vol. 38, pp. 4159-4169, 2000.
Karaesmen, F. and Y. Dallery, A Performance Comparison of Pull Type Control Mechanisms for Multi- Stage Production Control, International Journal of Production Economics, Vol. 68, pp. 59-71, 2000.
Karaesmen, F. and S.M. Gupta, “Service Control in a Finite Buffered Queue with Holding and Setup Costs”, Transactions on Operational Research, Vol. 10, No. 1, 19-41, 1998.
Karaesmen,F. and S.M. Gupta, Control of Arrivals in a Finite Buffered Queue with Setup Costs, Journal of the Operational Research Society, Vol. 48, pp. 1113-1122, 1997.
Karaesmen, F. and S.M. Gupta, Duality Relations for Queues with Arrival and Service Control, Computers and Operations Research, Vol. 24, pp. 529-538, 1997.
Avram F. and F. Karaesmen, A Method for Computing Optimal Double Band Policies for Switching Between Two Diffusions, Probability in the Engineering and Informational Sciences, Vol. 10, pp. 569-590, 1996.
Karaesmen F. and S.M. Gupta, The Finite Capacity GI/M/1 Queue with Server Vacations, Journal of the Operational Research Society, Vol. 47, pp. 817-828, 1996.
Gupta S.M. and F. Karaesmen, Solution to Complex Queueing Systems: A Spreadsheet Approach, Performance Evaluation Review, Vol. 21, pp. 33-46, 1994.
G. Sari, S. Ozekici, and F. Karaesmen, Risk Hedging in Revenue Management Models Using the Mean-Variance Approach, 2020
Pei J., D. Klabjan and F. Karaesmen, Pricing of Digital Goods vs. Physical Goods, 2013.
Pei J., D. Klabjan and F. Karaesmen, Auctions under Shareability and Externality, 2013
Bilgin A., O. Kaya and F. Karaesmen, Dynamic Pricing Problem with Exponential Utility Maximization, 2013
Jemai, Z. and F. Karaesmen, A note on the influence of variability in make-to-stock queues, 2003
Aksin O.Z. and F. Karaesmen, “Designing Flexibility: Characterizing the Value of Cross-Training Practices”, 2002
Karaesmen, F. Van der Duyn Schouten, L. Van Wassenhove, Dedication versus Flexibility in Field Service Operations, 1998.
Karaesmen F., F. Avram, and S.M. Gupta, Service Control in a Finite Buffered Queue with Multiple Service Rates, 1997.
Book Chapters
Karaesmen F. , Value of Advance Demand Information in Production and Inventory Systems with Shared Resources, in Handbook of Stochastic Models and Analysis of Manufacturing Systems Operations, J. MacGregor Smith and B. Tan (eds.), Springer, 2013, pp. 139-165.
Okyay H.K., F. Karaesmen, and S. Ozekici, Risk Hedging in the Newsvendor Model, in Use of Risk Analysis in Computer Aided Persuasion, E. Duman and A. Atiya (eds.), IOS Press, 2011, pp. 152-163.
Aksin O.Z., F. Karaesmen, and E. L. Ormeci, A Review of Workforce Cross-Training in Call Centers from an Operations Management Perspective, in Workforce Cross Training Handbook, D. Nembhard (ed.), CRC Press LLC, 2007 pp. 211-240.
Karaesmen, F., Liberopoulos, G. and Dallery, Y. Production/Inventory Control with Advance Demand Information in J.G. Shanthikumar, D.D. Yao and W.H.M. Zijm (eds.) Stochastic Modelling and Optimization of Manufacturing Systems and Supply Chains, International Series in Operations Research and Management Science, Vol. 63, Kluwer Academic Publishers, Boston, MA, (2003), pp. 243-270.
Conference Proceedings
Sayin, F. Karaesmen and S. Ozekici, A Risk-Sensitive Inventory Model with Random Demand and Capacity, Proceedings of the Ninth International Conference on Stochastic Models of Manufacturing and Service Operations, Ed.s H. Tempelmeier and H. Kuhn, Kloster Seeon, Germany, pp. 175-180, 2013.
Okyay H.K., F. Karaesmen and S. Özekici, “Financial Hedging of Demand and Supply Risks in the Newsvendor Model” , Manufacturing and Service Operations Management Conference, June , 2011, Ann Arbor, MI, USA
Turgay. Z, F. Karaesmen and L. Örmeci, “Robust Optimization of Stochastic Inventory Problems”, 5th International Conference on Game Theory and Management, June , 2011, St. Petersburg, Russia
Turgay Z. and F. Karaesmen, “On a Multi-Class Make-to-Stock Queue with Uncertain Demand and Service Rates” , 8th Conference on Stochastic Models of Manufacturing and Service Operations, pp. 48-54 , 2011, Kuşadası, Turkey
Akcay Y., F. Karaesmen, and S. Aydin, “Dynamic Pricing of Products with Heterogenous Quality”, Manufacturing and Service Operations Management Conference, June 2010, Haifa, Israel
Karabati S., F. Karaesmen, and A. Altan, “A Two-Stage Decentralized Supply Chain with Limited Capacity and Limited Information Sharing”, Analysis of Manufacturing Systems Conference, May , 2007, Lunteren, the Netherlands
Tepe S. and F. Karaesmen, “Impact of Advance Demand Information in Multi-Class Production-Inventory Systems”, EUROMA 2007, June , 2007, Ankara, Turkey
Uckun C., F. Karaesmen, and S. Savas, “Optimal Investment Levels to Eliminate Inventory Inaccuracy in a Two-Level Supply Chain”, EURASIA RFID, Sept. , 2007, Istanbul, Turkey
Cakan N. , O. Z. Aksin, F. Karaesmen , L. Ormeci, “Joint Flexibility and Capacity Design in Service and Manufacturing Systems”, to appear in the Proceedings of Prague Stochastics, 2006.
Cil E.B., Karaesmen F., and Örmeci E.L., Sensitivity Analysis on a Dynamic Pricing Problem of an M/M/c Queueing System, 12th IFAC Symposium on Information Control Problems in Manufacturing (INCOM), 2006. (Technical Appendix)
Örmeci, E.L., Gayon, J.P., Talay I., and Karaesmen F., Optimal Policies under Different Pricing Strategies in a Production System with Markov-Modulated Demand, System Modeling and Optimization – Proceedings of 22nd IFIP TC 7 Conference, eds. Ceragioli, F., Dontchev, A., Furuta, H., Marti, K. Pandolfi L., 239-250, 2006
Gayon, J.-P., F. de Véricourt, and F. Karaesmen, “Stock Rationing in an M/Ek/1 Make-to-Stock Queue with Backorders”, Proceedings of the MSOM Conference, Evanston, IL, USA, June 2005.
Aksin O.Z., F. Karaesmen, and L. Ormeci, On the Interaction Between Resource Flexibility and Flexibility Structures, Proceedings of the Fifth International Conference on “Analysis of Manufacturing Systems – Production Management”, Zakynthos, Greece, May 2005
Jemai, K. Hadj Youssef, F. Karaesmen, Etude de l’information avancée avec fenêtres de temps, MOSIM04, Fifth conference francophone demodelisation et optimisation, August 2004, Nantes, France
Jemai and F. Karaesmen, L’influence de la décentralisation sur la performance d’une chaîne logistique à deux étages, MOSIM03 Fourth conference francophone de modelisation et optimisation, April , 2003, Toulouse, France
Aguir, F. Karaesmen, Z. Aksin and F. Chauvet, Analyse du problème des rappels et dimensionnement dans un centre d’appels, MOSIM03 Fourthconference francophone de modelisation et optimisation, April 2003 , Toulouse, France
Sahin, Y. Dallery and F. Karaesmen, Définition de règles de pilotage pour un système dont les données stock sont imprécises, MOSIM03 Fourth conference francophone de modelisation et optimisation, April , 2003, Toulouse, France
Karaesmen, F., Inventory Systems with Advance Demand Information and Random Replenishment Times, Fourth Aegean International Conference on ‘Analysis of Manufacturing Systems’, Pages:87-92 , July , 2003, Samos Greece,
Saharidis, Y. Dallery and F. Karaesmen, Centralized versus Decentralized Production Planning in Supply Chains, Fourth Aegean International Conference on ‘Analysis of Manufacturing Systems’, Pages:151-160 , July , 2003, Samos – Greece.
Karaesmen F., J.A. Buzacott and Y.Dallery, “Production Coordination and Control with Advance Information on Customer Orders”, in Proceedings of the MSOM Conference, Ann Arbor, MI, USA, June 2000.
de Véricourt F., F. Karaesmen and Y. Dallery, “Dynamic Stock Rationing in a Make-to-Stock Queue: Optimal Policies and Some Implications on Delayed Differentiation “, in Proceedings of the MSOM Conference, Ann Arbor, MI, USA, June 2000.
de Véricourt F., F. Karaesmen and Y. Dallery, “Some Results on the Optimal Scheduling of a Single-Machine Multi-Product Pull System “, in Proceedings of the European Control Conference, Karlsruhe, Germany, September 1999.
Karaesmen F., J.A. Buzacott and Y.Dallery, “Pull Type Control Mechanisms and Advance Information on Customer Orders”, in Proceedings of the Flexible Automation and Intelligent Manufacturing 99 Conference, Tilburg, Netherlands, June 1999
Karaesmen F., J.A. Buzacott and Y. Dallery, “Integrating Advance Information in Pull Type Control Mechanisms for Multi-Stage Manufacturing”,inProceedings of the Second International Aegean Workshop on the `Analysis and Modeling of Manufacturing Systems, Tinos, Greece, May 1999
Gurkan G. and F. Karaesmen, “Computation of Optimal Flow Control Policies of a Manufacturing System with Multiple Production Rates”, in Proceedings of the Second International Aegean Workshop on the `Analysis and Modeling of Manufacturing Systems,Tinos, Greece, May 1999
Karaesmen F. and S.M. Gupta, “A Review of Continuous vs. Periodic Review of Order Levels to Control a Make-to-Order Production System”, in Proceedings of the Northeast Decision Sciences Institute Conference, Providence, RI, USA, March 1995.
Karaesmen F. and S.M. Gupta, “On the Cycle Time Distribution of a Closed Loop Type Manufacturing Flow Line”, in the Proceedings of the 6th International Machine Design and Production Conference, Ankara, Turkey, September 1994.
Patents
Salah Aguir, F. Chauvet, Y. Dallery, F. Karaesmen, Rabie M. Nait-Abdallah, T. Prat, “Solution for estimating expected waiting times in a call center” ( “Solution pour l’estimation du temps d’attente moyen dans un centre d’appels”), French Patent (Brevet français), Institut National de la Propriété Industrielle (INPI), February 4th, 2003, 03/01270.
Salah Aguir, F. Chauvet, Y. Dallery, F. Karaesmen, Rabie M. Nait-Abdallah, T. Prat, “Solution for estimating waiting time intervals in a call center in orderto announce customers” ( “Solution pour l’estimation avec intervalle de confiance du temps d’attente en vue de l’annoncer au client”), French Patent (Brevet français), Institut National de la Propriété Industrielle (INPI), December 4th, 2003, 03/50965.