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The Mississippi Furniture Industry And Its Use Of Wood-Based Materials, Steven H. Bullard, Brian A. Doherty, Paul H. Short
The Mississippi Furniture Industry And Its Use Of Wood-Based Materials, Steven H. Bullard, Brian A. Doherty, Paul H. Short
Faculty Publications
Furniture manufacturing is one of the most important industries in Mississippi; the industry's phenomenal growth and current high levels of production and employment have recently been widely recognized and publicized. The Mississippi Economic Council (1988), for example, recently labeled the state "The New Furniture Capital of America;' and Northeast Mississippi was recently described as a "booming region'' that "wants to be the Furniture Capital of America'' (Evans 1987). The present report characterizes important aspects of Mississippi's furniture industry, including its development and relative importance within the state and within the U.S., and assesses current information on the availability and use …
Maximizing Expected Profits In Competitive Bidding, Steven H. Bullard
Maximizing Expected Profits In Competitive Bidding, Steven H. Bullard
Faculty Publications
Forest products firms often buy much of their raw material through competitive bidding. The bidding process is vital to such companies, yet models are often used which merely help predict winning bids. Managers should consider expected returns from potential timber buying contracts-the product of profit and the prob· ability of realizing that profit. A general approach is summarized for maximizing expected profit in competitive bidding. For timber buying, profits are net returns minus stumpage costs. The probability of obtaining the profit is the probability a given bid will be accepted, and can be represented by a probability density function. The …