Near-optimal modified base stock policies for the capacitated inventory problem with stochastic demand and fixed cost

Name: Near-optimal modified base stock policies for the capacitated inventory problem with stochastic demand and fixed cost
Author: Özener, Okan Örsan, Güllü, R., Erkip, N.

İsim	Near-optimal modified base stock policies for the capacitated inventory problem with stochastic demand and fixed cost
Yazar	Özener, Okan Örsan, Güllü, R., Erkip, N.
Basım Tarihi:	2014-06
Basım Yeri	- World Scientific Publishing
Konu	Inventory, Stochastic processes, Capacity restriction, Fixed ordering cost
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	1793-7019
Kayıt Numarası	52445f9b-48b4-4f88-a1f3-9406a7db73ac
Lokasyon	Industrial Engineering
Tarih	2014-06
Notlar	Due to copyright restrictions, the access to the full text of this article is only available via subscription.
Örnek Metin	In this study, we investigate a single-item, periodic-review inventory problem where the production capacity is limited and unmet demand is backordered. We assume that customer demand in each period is a stationary, discrete random variable. Linear holding and backorder cost are charged per unit at the end of a period. In addition to the variable cost charged per unit ordered, a positive fixed ordering cost is incurred with each order given. The optimization criterion is the minimization of the expected cost per period over a planning horizon. We investigate the infinite horizon problem by modeling the problem as a discrete-time Markov chain. We propose a heuristic for the problem based on a particular solution of this stationary model, and conduct a computational study on a set of instances, providing insight on the performance of the heuristic.
DOI	10.1142/S0217595914500195
Cilt	31

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Near-optimal modified base stock policies for the capacitated inventory problem with stochastic demand and fixed cost

Yazar Özener, Okan Örsan, Güllü, R., Erkip, N.

Basım Tarihi 2014-06

Basım Yeri - World Scientific Publishing

Konu Inventory, Stochastic processes, Capacity restriction, Fixed ordering cost

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 1793-7019

Kayıt Numarası 52445f9b-48b4-4f88-a1f3-9406a7db73ac

Lokasyon Industrial Engineering

Tarih 2014-06

Notlar Due to copyright restrictions, the access to the full text of this article is only available via subscription.

Örnek Metin In this study, we investigate a single-item, periodic-review inventory problem where the production capacity is limited and unmet demand is backordered. We assume that customer demand in each period is a stationary, discrete random variable. Linear holding and backorder cost are charged per unit at the end of a period. In addition to the variable cost charged per unit ordered, a positive fixed ordering cost is incurred with each order given. The optimization criterion is the minimization of the expected cost per period over a planning horizon. We investigate the infinite horizon problem by modeling the problem as a discrete-time Markov chain. We propose a heuristic for the problem based on a particular solution of this stationary model, and conduct a computational study on a set of instances, providing insight on the performance of the heuristic.

DOI 10.1142/S0217595914500195

Cilt 31