Optimal inventory policy for a dynamic stochastic inventory problem with order revision

A buyer wishes to satisfy independent demands for a product by ordering the product from a supplier. The buyer places an order one period before delivery and the supplier allows the buyer to revise the size of order before delivery. The buyer seeks an ordering and order-revision policy with minimum...

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Bibliographic Details
Published in:	Optimization letters Vol. 11; no. 7; pp. 1489 - 1497
Main Author:	Xu, Ningxiong
Format:	Journal Article
Language:	English
Published:	Berlin/Heidelberg Springer Berlin Heidelberg 01.10.2017
Subjects:	Computational Intelligence Mathematics Mathematics and Statistics Numerical and Computational Physics Operations Research/Decision Theory Optimization Short Communication Simulation Inventory control Order revision Stochastic dynamic programming problem Optimal policy
ISSN:	1862-4472, 1862-4480
Online Access:	Get full text
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