This paper analyzes optimal replenishment policies that minimize expected discounted cost of multi-product stochastic inventory systems. The distinguishing feature of the multi-product inventory system that we analyze is the existence of correlated demand and joint-replenishment costs across...

This paper considers a dynamic lot sizing problem faced by a producer who supplies a single product to multiple customers. Characterized by their backorder costs as well as shipping costs, a customer with a high backorder cost has a greater need for the product than a customer with a low...

Recent advances in information technology make it possible for decision makers to track information in real time and obtain frequent feedback on their decisions. From a normative sense, an increase in the frequency of feedback and the ability to make changes should lead to enhanced performance...