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|Title:||A dynamic analysis of the single-item periodic stochastic inventory system with order capacity|
|Authors:||Chan, G.H. |
Stochastic inventory system
|Citation:||Chan, G.H., Song, Y. (2003-05-01). A dynamic analysis of the single-item periodic stochastic inventory system with order capacity. European Journal of Operational Research 146 (3) : 529-542. ScholarBank@NUS Repository. https://doi.org/10.1016/S0377-2217(02)00256-4|
|Abstract:||Consider a single-item periodic review stochastic inventory system with positive setup cost and finite order capacity. Chen and Lambrecht [Operations Research 44 (1996) 1013] showed that the optimal policy has a systematic pattern called the X-Y band structure. However there is no clear pattern for inventory positions between X and Y. Some properties of the optimal order policy are provided when the inventory position falls between X and Y. As a consequence of the analysis, an efficient algorithm is provided to compute the optimal ordering policy parameters. © 2002 Elsevier Science B.V. All rights reserved.|
|Source Title:||European Journal of Operational Research|
|Appears in Collections:||Staff Publications|
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