Search Results - subject:"Inventory control."

A Minibatch-SGD-based Learning Meta-Policy for Inventory Systems with Myopic Optimal Policy

Lyu, Jiameng; Xie, Jinxing; Yuan, Shilin; Zhou, Yuan - 2023

Stochastic gradient descent (SGD) has proven effective in solving many inventory control problems with demand learning … meta-policy, we apply it to three important inventory control problems: multi-product and multi-constraint systems, multi …

Persistent link: https://www.econbiz.de/10014361240

Dynamic Pricing and Production Control in a Two-Item Make-to-Stock System with Flexible Dual Sourcing and Lost Sales

Li, Ruobing; Xiao, Li; Yao, Dacheng - 2023

We consider a joint control of pricing and production in a two-item inventory system, where each item can be produced by its dedicated source or a shared flexible source, under the lost-sales setting. The demands of the two items are correlated. Due to the complexity caused by the lost-sales...

Persistent link: https://www.econbiz.de/10014343645

Heuristics for Perishable Inventory Systems Under Mixture Issuance Policies

Ding, Jingying; Peng, Zhenkang - 2023

We consider a periodic review inventory control problem of perishable goods with a fixed lifetime. Instead of …

Persistent link: https://www.econbiz.de/10014343908

Additional-Ordering Newsvendor Model Based on CVaR Criterion and Lost Sale Penalty Cost

Qiang, Haofan; Gong, Jiahao; WANG, Sukun - 2023

Based on the conditional value at risk criterion (CVaR), this paper constructed the additional-ordering newsvendor model considering the degree of risk aversion, the lost sale penalty cost and the limit of additional ordering, gave the satisfying conditions of optimal ordering quantity, and...

Persistent link: https://www.econbiz.de/10014343972

Learning under the Inventory Problem of Economic Order Quantity : A Behavioral Study

Wu, Yan Diana; Chen, Kay-Yut; Lang, Yan - 2023

Inventory management relies on the economic order quantity (EOQ) and newsvendor models. While the newsvendor model has received much attention in the field of behavioral operations management (BOM), the EOQ problem remains largely untouched. This study presents one of the first empirical...

Persistent link: https://www.econbiz.de/10014344352

Online Inventory Control with Censored Demand : A Neural Network-Based Approach

Shi, Nachuan; Huang, Teng; Wang, Shan - 2023

Inventory management for a new product is challenging due to the lack of historical data, and sales data cannot fully capture the actual demand as excess demand is usually unobservable. Meanwhile, demand-related features are available in the era of big data. We study how to determine the...

Persistent link: https://www.econbiz.de/10014344544

Risk Management Through Financial Hedging in Inventory Systems with Stochastic Price Processes

Canyakmaz, Caner; Ozekici, Suleyman; Karaesmen, Fikri - 2023

We consider the financial hedging problem of a firm whose operational cash flow from its inventory operation is affected by both price and demand uncertainties. We assume that selling prices and demand arrival process are governed by an exogenous continuous stochastic price process which is...

Persistent link: https://www.econbiz.de/10014344981

When Yield is Not the Only Supply Uncertainty : Newsvendor Model of a Trade Agent

Cakici, Ozden Engin; Karaesmen, Itir - 2023

Problem definition: We study the procurement decisions of a trade agent: The agent chooses a bid (unit price to pay) to procure the goods available from seller(s). If the agent wins the bid, the supply is used to meet the buyer’s demand. Methodology/results: The trade agent’s single-period,...

Persistent link: https://www.econbiz.de/10014345050

Integrating Time-Temperature Dependent Deterioration in the Economic Order Quantity Model for Perishable Products in Multi-Echelon Supply Chains

Claassen, G.D.H. (Frits); Van, A. (Anh) Thai Thi; … - 2023

This paper focuses on a novel approach to cold chain management of perishable products. We extend the classical and frequently applied Economic Order Quantity model (EOQ) for its application in multi-echelon supply chains for highly perishable products. Literature shows that order-level...

Persistent link: https://www.econbiz.de/10014345197

Challenging Inventory Issues in Multi-Echelon Supply Chains of Edible Goods due to Varying Deterioration Rate

M V, Dileep; V, Regi Kumar - 2023

too for edible purpose. Supply chain inventory control is one of the scientific approaches for judging the suitable stock … to the end user is a significant inventory control challenge in a multi-tiered supply chain. When the handled material is … perishable, supply chain inventory control becomes more complex, and it becomes even more complex when its deterioration rate is …

Persistent link: https://www.econbiz.de/10014346678