This paper studies convergence properties of optimal values and actions for discounted and averagecost Markov Decision Processes (MDPs) with weakly continuous transition probabilities and applies these properties to the stochastic periodic-review inventory control problem with backorders, positive setup costs, and convex holding/backordering costs. The following results are established for MDPs...

This paper derives an optimal (r; S) policy for uncertain multi-product newsboy problem. Demands for the products are estimated by experts and assumed to be independent uncertain variables. Uncertainty theory, which is a new mathematical tool to deal with human uncertainty, is employed to model demand distributions. A fixed setup cost and a linear ordering cost are incurred if products are orde...

This paper derives an optimal (r; S) policy for uncertain multi-product newsboy problem. Demands for the products are estimated by experts and assumed to be independent uncertain variables. Uncertainty theory, which is a new mathematical tool to deal with human uncertainty, is employed to model demand distributions. A fixed setup cost and a linear ordering cost are incurred if products are orde...

Mathematical models have been used in many areas of supply chain management. In this paper, we present a mixed-integer non-linear programing (MINLP) model to solve a multi-period, closed-loop supply chains (CLSCs) with two echelons consist of producers and customers. In order to satisfy the demands, the producers are be able to order for materials in the beginning of each period for one or more...

We study the joint inventory and sales effort management problems of a retailer in a broad context and investigate the optimal policies for a single item, periodic-review system. In each period, the demand is uncertain depending on the sales effort level exerted by the retailer, which incurs an associated cost. The retailer’s objective is to find a joint optimal inventory replenishment and sale...

A two-warehouse inventory model with deteriorating items and rework process time varying demand rate is presented. The Last-In-First-Out (LIFO) First-In-First-Out (FIFO) policies are considered the assumption that holding cost higher in rented warehouse (RW) compared to owned (OW). aim of proposed determine optimum values a production cycle will minimise total relevant cost, TRC*. We have utili...

A central question in designing server farms today is how to efficiently provision the number of serversto handle unpredictable demand patterns, so as to extract the best performance while not wastingenergy. While one would like to turn servers off when they become idle to save energy, the largesetup cost (both, in terms of setup time and energy penalty) needed to switch the server ...