Non-stationary stochastic demands are very common in industrial settings with seasonal patterns, trends, business cycles, and limited-life items. In such cases, the optimal inventory control policies are also non-stationary. However, due to high computational complexity, non-stationary inventory...

A well-known problem in coordinating supply chain inventories is that replenishment decisions are revised due to stochastic demands. This issue is often referred to as system nervousness. The literature distinguishes between two types of nervousness: setup-oriented and quantity-oriented. It is...

In this paper, we develop a unified mixed integer linear modelling approach to compute near-optimal policy parameters for the non-stationary stochastic lot sizing problem under static–dynamic uncertainty strategy. The proposed approach applies to settings in which unmet demand is backordered...

In stochastic inventory systems unfolding uncertainties in demand lead to the revision of earlier replenishment plans which in turn results in an instability or so-called system nervousness. In this paper, we provide the grounds for measuring system nervousness in non-stationary demand...

Radio Frequency Identification, or RFID, technology has received great attention when, beginning in 2003, Walmart announced its plan to use the technology. RFID׳s automatic scanning ability can reduce product scanning error rates and product scanning manpower, which can lead to increased labor...

We introduce a novel strategy to address the issue of demand estimation in single-item single-period stochastic inventory optimisation problems. Our strategy analytically combines confidence interval analysis and inventory optimisation. We assume that the decision maker is given a set of past...

This paper proposes a constraint programming model for computing the finite horizon single-item inventory problem with stochastic demands in discrete time periods with service-level constraints under the non-stationary version of the "periodic review, order-up-to-level" policy (i.e.,...