Stochastic Inventory Control: A Literature Review

A Literature Review on the Fuzzy Control Chart; Classifications & Analysis

Quality control plays an important role in increasing the product quality. Fuzzy control charts are more sensitive than Shewhart control chart. Hence, the correct use of fuzzy control chart leads to producing better-quality products. This area is complex because it involves a large scope of industries, and information is not well organized. In this research, we provide a literature review of th...

Cost-Based Filtering for Stochastic Inventory Control

An interesting class of production/inventory control problems considers a single product and a single stocking location, given a stochastic demand with a known non-stationary probability distribution. Under a widely-used control policy for this type of inventory system, the objective is to find the optimal number of replenishments, their timings and their respective order-up-to-levels that meet...

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...

Stochastic inventory control with partial demand observability

Consignment Inventory: Review and Critique of Literature

Consignment inventory (CI) is a supply chain business partnership where the customer orders to the vendor, but delays paying for goods. In CI, like the traditional systems, each member has authority over the timing and quantity of replenishments; however, these systems differ in time of transferring ownership. Previous researches showed different approaches for delay in payment in customer mana...