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|Title:||Robust inventory optimization||Authors:||SEE CHUEN TECK||Keywords:||Robust optimization, Ambiguous Demands, Inventory Management, Fill Rate, Multi-product Model, Multiperiod Model||Issue Date:||2-Oct-2009||Citation:||SEE CHUEN TECK (2009-10-02). Robust inventory optimization. ScholarBank@NUS Repository.||Abstract:||This thesis proposes robust methodologies to optimize uncertain inventory for two important settings. The first is a multiperiod, inventory control problem where we trade-off the cost of holding excess inventory against the backlog cost under ambiguous demands. The approach is developed around a factor-based model, which incorporates business factors as well as time series forecast of trend, seasonality and cyclic variations. We obtain the parameters of the replenishment policies by solving a tractable deterministic optimization problem in the form of second order cone optimization problem, with solution time that is polynomial and independent on parameters such as replenishment lead time, demand variability, correlations, among others. The second setting is a service-level scenario where we propose bounds to guarantee a high level of expected fill rate against a family of distributions with the same demand range, demand median and range of the probability density function.||URI:||http://scholarbank.nus.edu.sg/handle/10635/17374|
|Appears in Collections:||Ph.D Theses (Open)|
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