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A Modified Computational Dynamic Programming Approach To a Production and Inventory Control Problem

Naadimuthu, Govindasami - 2012

A production and inventory control problem is solved by a modified computational dynamic programming procedure. Specifically a two dimensional problem described by differential system equations with an integral objective function is solved by the proposed scheme. The numerical results are...

Persistent link: https://www.econbiz.de/10013097909

On the Optimal Control of Partially Observed Inventory Systems

Bensoussan, Alain; Çakanyıldırım, M.; Sethi, Suresh - 2008

This paper introduces recent developments in the analysis of inventory systems with partial observations. The states of these systems are typically conditional distributions, which evolve in infinite dimensional spaces over time. Our analysis involves introducing unnormalized probabilities to...

Persistent link: https://www.econbiz.de/10014047879

Optimal ordering decisions and revenue sharing in a single period split order supply chain

Kalpana, P.; Kaur, Arshinder - In: Technology operation management : TOM ; official … 2 (2011) 2, pp. 61-79

Persistent link: https://www.econbiz.de/10010243255

Optimal inventory control with dual-sourcing, heterogeneous ordering costs and order size constraints

Zhang, Wei; Hua, Zhongsheng; Benjaafar, Saif - In: Production and operations management : an international … 21 (2012) 3, pp. 564-575

Persistent link: https://www.econbiz.de/10009561406

Stock-level dependent ordering of perishables : a comparison of hybrid base-stock and constant order policies

Haijema, René; Minner, Stefan - In: International journal of production economics 181 (2016), pp. 215-225

Persistent link: https://www.econbiz.de/10011619317

Simultaneous optimization of contingent and advance purchase orders with fixed ordering costs

Gan, Xianghua; Sethi, Suresh P.; Xu, Liang - In: Omega : the international journal of management science 89 (2019), pp. 227-241

Persistent link: https://www.econbiz.de/10012118635

Average-Cost Optimality of a Base-Stock Policy for a Multi-Product Inventory Model with Limited Storage

Beyer, Dirk - 2020

We consider a stochastic multi-product inventory model with a ware-housing constraint with the objective of minimizing the expected long-run average cost. Using the vanishing discount approach, a dynamic programming equation and the corresponding verification result are established. The...

Persistent link: https://www.econbiz.de/10012836963

An EOQ model for multiple products with varying degrees of substitutability

Eksler, Leonid; Aviram, Roei; Elalouf, Amir; Kamble, Aakash - 2018

In this paper, the authors present an EOQ model with substitutions between products and a dynamic inventory replenishment policy. The key assumption is that many products in the market are substitutable at different levels, and that, in most cases, a customer who discovers that a desired product...

Persistent link: https://www.econbiz.de/10011915411

Computation of Approximate Optimal Policies in a Partially Observed Inventory Model With Rain Checks

Bensoussan, Alain - 2020

mathematically in the literature, the use of our algorithm provides a numerical approximation of the optimal order quantities. These … with its mean and applies the well-known base stock policy. We show numerically that the optimal order quantity is very … close to the base mean-stock order quantity, when the variance of the inventory distribution is small. When the mean of the …

Persistent link: https://www.econbiz.de/10012846527

On the Optimality Conditions of a Price-Setting Newsvendor Problem

Luo, Sirong - 2020

functions satisfy certain concavity conditions. Furthermore, we show that the optimal price decreases in the order quantity …

Persistent link: https://www.econbiz.de/10012838197