Approximation Algorithms for Stochastic Inventory Control Models
نویسندگان
چکیده
منابع مشابه
Approximation Algorithms for Stochastic Inventory Control Models
In this paper we address the long-standing problem of finding computationally efficient and provably good inventory control policies in supply chains with correlated and nonstationary (time-dependent) stochastic demands. This problem arises in many domains and has many practical applications such as dynamic forecast updates (for some applications see Erkip et al. 1990 and Lee et al. 1999). We c...
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We develop the first algorithmic approach to compute provably good ordering policies for a multi-period, capacitated, stochastic inventory system facing stochastic non-stationary and correlated demands that evolve over time. Our approach is computationally efficient and guaranteed to produce a policy with total expected cost no more than twice that of an optimal policy. As part of our computati...
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Introduction. We study a class of capacitated stochastic lot-sizing inventory control problems with stochastic, non-stationary and correlated demands that evolve over time. Economies of scale and capacity constraints exist in many practical scenarios. However, models with fixed ordering costs and capacity constraints are typically computationally intractable, and even the structure of the optim...
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We consider stochastic inventory control models in which the goal is to coordinate a sequence of orders of a single commodity, aiming to supply stochastic demands over a discrete, finite horizon with minimum expected overall ordering, holding and backlogging costs. In this paper, we address the longstanding problem of finding computationally efficient and provably good inventory control policie...
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We develop the first approximation algorithm with worst-case performance guarantee for capacitated stochastic periodic-review inventory systems with setup costs. The structure of the optimal control policy for such systems is extremely complicated, and indeed, only some partial characterization is available. Thus, finding provably near-optimal control policies has been an open challenge. In thi...
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ژورنال
عنوان ژورنال: Mathematics of Operations Research
سال: 2007
ISSN: 0364-765X,1526-5471
DOI: 10.1287/moor.1060.0205