"This book addresses production and inventory management problems where products can be replaced by specified substitutes. Depending on the considered application, substitutions can potentially improve the service level, reduce required safety stocks and total setup costs and times, utilize cost...

Starting with historical demand trajectories of similar products and their covariate information, we develop a data-driven approach to dynamic inventory planning for new products. Specifically, we employ non-parametric machine learning methods to model the uncertain future demand and incorporate...