An inventory manager is typically concerned with a number of diierent products. His decision-making task is made complicated by such factors as interdependent uncertain product demands and competition for limited storage space. The stochastic inventory problem involving these complexities cannot in general be decomposed into a number of distinct single product problems. In the paper \Stochastic...

In this paper, we consider numerous inventory control problems for which the base-stock policies are known to be optimal and we propose stochastic approximation methods to compute the optimal base-stock levels. The existing stochastic approximation methods in the literature guarantee that their iterates converge, but not necessarily to the optimal base-stock levels. In contrast, we prove that t...

In the aftermath of the financial crisis, it has been argued that a guideline for the design of the future policy framework should be to take the ‘a’ out of ‘asymmetry’ in thewaymonetary policy deals with asset pricemovements. Recent empirical evidence has suggested that the Federal Reserve may have followed an asymmetric policy towards the stock market in the precrisis period. According to the...

We consider a class of single-stage, single-product Make-to-Stock productioninventory system (MTS system) with backorders. The system employs a continuous-review base-stock policy which strives to maintain a prescribed base-stock level of inventory. In a previous paper of Zhao and Melamed (Methodology and Computing in Applied Probability 8:191–222, 2006), the Infinitesimal Perturbation Analysis...

We consider the problem of stock repurchase over a finite time horizon. We assume that a firm has a reservation price for the stock, which is the highest price that the firm is willing to pay to repurchase its own stock. We characterize the optimal policy for the trader to maximize the total number of shares he can buy over a fixed time horizon. In particular, we study a greedy policy, which in...

We consider the problem of stock repurchase over a finite time horizon. We assume that a firm has a reservation price for the stock, which is the highest price that the firm is willing to pay to repurchase its own stock. We characterize the optimal policy for the trader to maximize the total number of shares he can buy over a fixed time horizon. In particular, we study a greedy policy, which in...

We study a single-item r q inventory system, where r is the reorder point and q is the order quantity. The demand is a compound-Poisson process. We investigate the behavior of the optimal policy parameters and the long-run average cost of the system in response to stochastically shorter or less-variable lead times. We show that although some of the properties of the base-stock system can be ext...

We present two results to aid the numerical solution of the notoriously di¢ cult discrete-time inventory model with stochastic demands, a constant leadtime, and lost sales. First, we show that the e¤ective state space is a relatively manageable compact set. Second, we show that the optimal cost is increasing in the leadtime, and we use this fact to construct a good lower bound on the optimal-co...

No: 011-0319 Abstract Title: Impact of Inventory Allocation Policies on Downstream Supply Variability in a Multi-echelon System Authors Information: SUMAN NIRANJAN School of Management, State University of New York Binghamton, Vestal, NY 13902 607-777-4120 [email protected] FRANK CIARALLO Biomedical, Industrial, and Human Factors Engineering, Wright State University, Dayton, OH 45435 937-...