Closing the Gap: A Learning Algorithm for Lost-Sales Inventory Systems with Lead Times
Author
Abstract
Suggested Citation
DOI: 10.1287/mnsc.2019.3288
Download full text from publisher
References listed on IDEAS
- Philippou, Andreas N. & Georghiou, Costas & Philippou, George N., 1983. "A generalized geometric distribution and some of its properties," Statistics & Probability Letters, Elsevier, vol. 1(4), pages 171-175, June.
- Omar Besbes & Alp Muharremoglu, 2013. "On Implications of Demand Censoring in the Newsvendor Problem," Management Science, INFORMS, vol. 59(6), pages 1407-1424, June.
- Linwei Xin & David A. Goldberg, 2016. "Optimality Gap of Constant-Order Policies Decays Exponentially in the Lead Time for Lost Sales Models," Operations Research, INFORMS, vol. 64(6), pages 1556-1565, December.
- Bijvank, Marco & Vis, Iris F.A., 2011. "Lost-sales inventory theory: A review," European Journal of Operational Research, Elsevier, vol. 215(1), pages 1-13, November.
- Retsef Levi & Ganesh Janakiraman & Mahesh Nagarajan, 2008. "A 2-Approximation Algorithm for Stochastic Inventory Control Models with Lost Sales," Mathematics of Operations Research, INFORMS, vol. 33(2), pages 351-374, May.
- Ganesh Janakiraman & Sridhar Seshadri & J. George Shanthikumar, 2007. "A Comparison of the Optimal Costs of Two Canonical Inventory Systems," Operations Research, INFORMS, vol. 55(5), pages 866-875, October.
- Apostolos N. Burnetas & Craig E. Smith, 2000. "Adaptive Ordering and Pricing for Perishable Products," Operations Research, INFORMS, vol. 48(3), pages 436-443, June.
- Ganesh Janakiraman & Robin O. Roundy, 2004. "Lost-Sales Problems with Stochastic Lead Times: Convexity Results for Base-Stock Policies," Operations Research, INFORMS, vol. 52(5), pages 795-803, October.
- Marco Bijvank & Woonghee Tim Huh & Ganesh Janakiraman & Wanmo Kang, 2014. "Robustness of Order-Up-to Policies in Lost-Sales Inventory Systems," Operations Research, INFORMS, vol. 62(5), pages 1040-1047, October.
- Wei Chen & Milind Dawande & Ganesh Janakiraman, 2014. "Fixed-Dimensional Stochastic Dynamic Programs: An Approximation Scheme and an Inventory Application," Operations Research, INFORMS, vol. 62(1), pages 81-103, February.
- Cong Shi & Weidong Chen & Izak Duenyas, 2016. "Technical Note—Nonparametric Data-Driven Algorithms for Multiproduct Inventory Systems with Censored Demand," Operations Research, INFORMS, vol. 64(2), pages 362-370, April.
- Woonghee Tim Huh & Paat Rusmevichientong, 2009. "A Nonparametric Asymptotic Analysis of Inventory Planning with Censored Demand," Mathematics of Operations Research, INFORMS, vol. 34(1), pages 103-123, February.
- David A. Goldberg & Dmitriy A. Katz-Rogozhnikov & Yingdong Lu & Mayank Sharma & Mark S. Squillante, 2016. "Asymptotic Optimality of Constant-Order Policies for Lost Sales Inventory Models with Large Lead Times," Mathematics of Operations Research, INFORMS, vol. 41(3), pages 898-913, August.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Ding, Xiaohui & Chen, Caihua & Li, Chongshou & Lim, Andrew, 2021. "Product demand estimation for vending machines using video surveillance data: A group-lasso method," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 150(C).
- Hao Yuan & Qi Luo & Cong Shi, 2021. "Marrying Stochastic Gradient Descent with Bandits: Learning Algorithms for Inventory Systems with Fixed Costs," Management Science, INFORMS, vol. 67(10), pages 6089-6115, October.
- Rajib L. Saha & Sumanta Singha & Subodha Kumar, 2021. "Does Congestion Always Hurt? Managing Discount Under Congestion in a Game-Theoretic Setting," Information Systems Research, INFORMS, vol. 32(4), pages 1347-1367, December.
- Jian Yang & Jim (Junmin) Shi, 2023. "Discrete‐item inventory control involving unknown censored demand and convex inventory costs," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 45-64, January.
- Saha, Kushal & Bhattacharya, Subir, 2021. "‘Buy online and pick up in-store’: Implications for the store inventory," European Journal of Operational Research, Elsevier, vol. 294(3), pages 906-921.
- Jinzhi Bu & David Simchi-Levi & Li Wang, 2023. "Offline Pricing and Demand Learning with Censored Data," Management Science, INFORMS, vol. 69(2), pages 885-903, February.
- Boxiao Chen & Xiuli Chao & Cong Shi, 2021. "Nonparametric Learning Algorithms for Joint Pricing and Inventory Control with Lost Sales and Censored Demand," Mathematics of Operations Research, INFORMS, vol. 46(2), pages 726-756, May.
- Satya S. Malladi & Alan L. Erera & Chelsea C. White, 2023. "Inventory control with modulated demand and a partially observed modulation process," Annals of Operations Research, Springer, vol. 321(1), pages 343-369, February.
- Weidong Chen & Cong Shi & Izak Duenyas, 2020. "Optimal Learning Algorithms for Stochastic Inventory Systems with Random Capacities," Production and Operations Management, Production and Operations Management Society, vol. 29(7), pages 1624-1649, July.
- Meng Qi & Ho‐Yin Mak & Zuo‐Jun Max Shen, 2020. "Data‐driven research in retail operations—A review," Naval Research Logistics (NRL), John Wiley & Sons, vol. 67(8), pages 595-616, December.
- Boxiao Chen & David Simchi-Levi & Yining Wang & Yuan Zhou, 2022. "Dynamic Pricing and Inventory Control with Fixed Ordering Cost and Incomplete Demand Information," Management Science, INFORMS, vol. 68(8), pages 5684-5703, August.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- David A. Goldberg & Martin I. Reiman & Qiong Wang, 2021. "A Survey of Recent Progress in the Asymptotic Analysis of Inventory Systems," Production and Operations Management, Production and Operations Management Society, vol. 30(6), pages 1718-1750, June.
- Linwei Xin & David A. Goldberg, 2016. "Optimality Gap of Constant-Order Policies Decays Exponentially in the Lead Time for Lost Sales Models," Operations Research, INFORMS, vol. 64(6), pages 1556-1565, December.
- Li, Zhaolin (Erick) & Liang, Guitian & Fu, Qi (Grace) & Teo, Chung-Piaw, 2023. "Base-Stock Policies with Constant Lead Time: Closed-Form Solutions and Applications," Working Papers BAWP-2023-01, University of Sydney Business School, Discipline of Business Analytics.
- Anyan Qi & Hyun-Soo Ahn & Amitabh Sinha, 2017. "Capacity Investment with Demand Learning," Operations Research, INFORMS, vol. 65(1), pages 145-164, February.
- Gah-Yi Ban, 2020. "Confidence Intervals for Data-Driven Inventory Policies with Demand Censoring," Operations Research, INFORMS, vol. 68(2), pages 309-326, March.
- Anyan Qi & Hyun-Soo Ahn & Amitabh Sinha, 2017. "Capacity Investment with Demand Learning," Operations Research, INFORMS, vol. 65(1), pages 145-164, February.
- Yanyi Xu & Sang-Phil Kim & Arnab Bisi & Maqbool Dada & Suresh Chand, 2018. "Base-Stock Models for Lost Sales: A Markovian Approach," Purdue University Economics Working Papers 1305, Purdue University, Department of Economics.
- Jinzhi Bu & Xiting Gong & Dacheng Yao, 2019. "Technical Note—Constant-Order Policies for Lost-Sales Inventory Models with Random Supply Functions: Asymptotics and Heuristic," Operations Research, INFORMS, vol. 68(4), pages 1063-1073, July.
- Woonghee Tim Huh & Ganesh Janakiraman & John A. Muckstadt & Paat Rusmevichientong, 2009. "An Adaptive Algorithm for Finding the Optimal Base-Stock Policy in Lost Sales Inventory Systems with Censored Demand," Mathematics of Operations Research, INFORMS, vol. 34(2), pages 397-416, May.
- Cong Shi & Weidong Chen & Izak Duenyas, 2016. "Technical Note—Nonparametric Data-Driven Algorithms for Multiproduct Inventory Systems with Censored Demand," Operations Research, INFORMS, vol. 64(2), pages 362-370, April.
- Xiuli Chao & Xiting Gong & Cong Shi & Chaolin Yang & Huanan Zhang & Sean X. Zhou, 2018. "Approximation Algorithms for Capacitated Perishable Inventory Systems with Positive Lead Times," Management Science, INFORMS, vol. 64(11), pages 5038-5061, November.
- Kouki, Chaaben & Babai, M. Zied & Jemai, Zied & Minner, Stefan, 2019.
"Solution procedures for lost sales base-stock inventory systems with compound Poisson demand,"
International Journal of Production Economics, Elsevier, vol. 209(C), pages 172-182.
- Zied Jemai & Chaaben Kouki & Mohamed Zied Babai & Stefan Minner, 2019. "Solution procedures for lost sales base-stock inventory systems with compound Poisson demand," Post-Print hal-01742197, HAL.
- Weidong Chen & Cong Shi & Izak Duenyas, 2020. "Optimal Learning Algorithms for Stochastic Inventory Systems with Random Capacities," Production and Operations Management, Production and Operations Management Society, vol. 29(7), pages 1624-1649, July.
- Jinzhi Bu & Xiting Gong & Xiuli Chao, 2023. "Asymptotic Optimality of Base-Stock Policies for Perishable Inventory Systems," Management Science, INFORMS, vol. 69(2), pages 846-864, February.
- Bijvank, Marco & Vis, Iris F.A., 2012. "Lost-sales inventory systems with a service level criterion," European Journal of Operational Research, Elsevier, vol. 220(3), pages 610-618.
- Jian Yang & Jim (Junmin) Shi, 2023. "Discrete‐item inventory control involving unknown censored demand and convex inventory costs," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 45-64, January.
- Boxiao Chen & Xiuli Chao & Hyun-Soo Ahn, 2019. "Coordinating Pricing and Inventory Replenishment with Nonparametric Demand Learning," Operations Research, INFORMS, vol. 67(4), pages 1035-1052, July.
- Woonghee Tim Huh & Ganesh Janakiraman & John A. Muckstadt & Paat Rusmevichientong, 2009. "Asymptotic Optimality of Order-Up-To Policies in Lost Sales Inventory Systems," Management Science, INFORMS, vol. 55(3), pages 404-420, March.
- Adam J. Mersereau, 2015. "Demand Estimation from Censored Observations with Inventory Record Inaccuracy," Manufacturing & Service Operations Management, INFORMS, vol. 17(3), pages 335-349, July.
- Linwei Xin & David A. Goldberg, 2018. "Asymptotic Optimality of Tailored Base-Surge Policies in Dual-Sourcing Inventory Systems," Management Science, INFORMS, vol. 64(1), pages 437-452, January.
More about this item
Keywords
inventory; lost sales; lead time; base-stock policy; censored demand; nonparametric; learning algorithms; regret analysis;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:66:y:2020:i:5:p:1962-1980. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.