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Periodic review stochastic inventory problem with forecast updates: Worst-case bounds for the myopic solution

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  • Gavirneni, Srinagesh
  • Bollapragada, Srinivas
  • E. Morton, Thomas

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  • Gavirneni, Srinagesh & Bollapragada, Srinivas & E. Morton, Thomas, 1998. "Periodic review stochastic inventory problem with forecast updates: Worst-case bounds for the myopic solution," European Journal of Operational Research, Elsevier, vol. 111(2), pages 381-392, December.
    • Handle: RePEc:eee:ejores:v:111:y:1998:i:2:p:381-392
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    1. Samuel Karlin, 1960. "Dynamic Inventory Policy with Varying Stochastic Demands," Management Science, INFORMS, vol. 6(3), pages 231-258, April.
    2. William S. Lovejoy, 1990. "Myopic Policies for Some Inventory Models with Uncertain Demand Distributions," Management Science, INFORMS, vol. 36(6), pages 724-738, June.
    3. Katy S. Azoury, 1985. "Bayes Solution to Dynamic Inventory Models Under Unknown Demand Distribution," Management Science, INFORMS, vol. 31(9), pages 1150-1160, September.
    4. William S. Lovejoy, 1992. "Stopped Myopic Policies in Some Inventory Models with Generalized Demand Processes," Management Science, INFORMS, vol. 38(5), pages 688-707, May.
    5. G. D. Johnson & H. E. Thompson, 1975. "Optimality of Myopic Inventory Policies for Certain Dependent Demand Processes," Management Science, INFORMS, vol. 21(11), pages 1303-1307, July.
    6. Thomas E. Morton & David W. Pentico, 1995. "The Finite Horizon Nonstationary Stochastic Inventory Problem: Near-Myopic Bounds, Heuristics, Testing," Management Science, INFORMS, vol. 41(2), pages 334-343, February.
    7. Matthew J. Sobel, 1981. "Myopic Solutions of Markov Decision Processes and Stochastic Games," Operations Research, INFORMS, vol. 29(5), pages 995-1009, October.
    8. Thomas E. Morton, 1971. "The Near-Myopic Nature of the Lagged-Proportional-Cost Inventory Problem with Lost Sales," Operations Research, INFORMS, vol. 19(7), pages 1708-1716, December.
    9. Purushottaman Nandakumar & Thomas E. Morton, 1993. "Near Myopic Heuristics for the Fixed-Life Perishability Problem," Management Science, INFORMS, vol. 39(12), pages 1490-1498, December.
    10. Arthur F. Veinott, Jr., 1965. "Optimal Policy for a Multi-Product, Dynamic, Nonstationary Inventory Problem," Management Science, INFORMS, vol. 12(3), pages 206-222, November.
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    Cited by:

    1. Inderfurth, Karl & Kelle, Peter & Kleber, Rainer, 2013. "Dual sourcing using capacity reservation and spot market: Optimal procurement policy and heuristic parameter determination," European Journal of Operational Research, Elsevier, vol. 225(2), pages 298-309.
    2. Xu, Ningxiong, 2009. "Optimal policy for a dynamic, non-stationary, stochastic inventory problem with capacity commitment," European Journal of Operational Research, Elsevier, vol. 199(2), pages 400-408, December.

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