IDEAS home Printed from https://ideas.repec.org/r/inm/oropre/v45y1997i6p931-939.html
   My bibliography  Save this item

Optimality of ( s , S ) Policies in Inventory Models with Markovian Demand

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as


Cited by:

  1. Komeyl Baghizadeh & Nafiseh Ebadi & Dominik Zimon & Luay Jum’a, 2022. "Using Four Metaheuristic Algorithms to Reduce Supplier Disruption Risk in a Mathematical Inventory Model for Supplying Spare Parts," Mathematics, MDPI, vol. 11(1), pages 1-19, December.
  2. Tan, Tarkan & Gullu, Refik & Erkip, Nesim, 2007. "Modelling imperfect advance demand information and analysis of optimal inventory policies," European Journal of Operational Research, Elsevier, vol. 177(2), pages 897-923, March.
  3. X. Guo & P. Kaminsky & P. Tomecek & M. Yuen, 2011. "Optimal spot market inventory strategies in the presence of cost and price risk," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 73(1), pages 109-137, February.
  4. Arnoud den Boer & Ohad Perry & Bert Zwart, 2018. "Dynamic pricing policies for an inventory model with random windows of opportunities," Naval Research Logistics (NRL), John Wiley & Sons, vol. 65(8), pages 660-675, December.
  5. Özen, Ulaş & Doğru, Mustafa K. & Armagan Tarim, S., 2012. "Static-dynamic uncertainty strategy for a single-item stochastic inventory control problem," Omega, Elsevier, vol. 40(3), pages 348-357.
  6. Li Chen & Jing-Sheng Song & Yue Zhang, 2017. "Serial Inventory Systems with Markov-Modulated Demand: Derivative Bounds, Asymptotic Analysis, and Insights," Operations Research, INFORMS, vol. 65(5), pages 1231-1249, October.
  7. Özalp Özer & Wei Wei, 2004. "Inventory Control with Limited Capacity and Advance Demand Information," Operations Research, INFORMS, vol. 52(6), pages 988-1000, December.
  8. Li, Xiaoming, 2010. "Optimal inventory policies in decentralized supply chains," International Journal of Production Economics, Elsevier, vol. 128(1), pages 303-309, November.
  9. Woonghee Tim Huh & Ganesh Janakiraman, 2012. "Technical Note---On Optimal Policies for Inventory Systems with Batch Ordering," Operations Research, INFORMS, vol. 60(4), pages 797-802, August.
  10. Ren, Ke & Bidkhori, Hoda & Shen, Zuo-Jun Max, 2024. "Data-driven inventory policy: Learning from sequentially observed non-stationary data," Omega, Elsevier, vol. 123(C).
  11. Fangruo Chen & Jing-Sheng Song, 2001. "Optimal Policies for Multiechelon Inventory Problems with Markov-Modulated Demand," Operations Research, INFORMS, vol. 49(2), pages 226-234, April.
  12. Scheller-Wolf, Alan & Tayur, Sridhar, 2009. "Risk sharing in supply chains using order bands--Analytical results and managerial insights," International Journal of Production Economics, Elsevier, vol. 121(2), pages 715-727, October.
  13. Baker, Scott R. & Johnson, Stephanie & Kueng, Lorenz, 2024. "Financial returns to household inventory management," Journal of Financial Economics, Elsevier, vol. 151(C).
  14. Chen, Frank Y. & Krass, Dmitry, 2001. "Inventory models with minimal service level constraints," European Journal of Operational Research, Elsevier, vol. 134(1), pages 120-140, October.
  15. Gong, Min & Lian, Zhaotong & Xiao, Hua, 2022. "Inventory control policy for perishable products under a buyback contract and Brownian demands," International Journal of Production Economics, Elsevier, vol. 251(C).
  16. 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.
  17. Yixian Chen & Prakhar Mehrotra & Nitin Kishore Sai Samala & Kamilia Ahmadi & Viresh Jivane & Linsey Pang & Monika Shrivastav & Nate Lyman & Scott Pleiman, 2021. "A Multiobjective Optimization for Clearance in Walmart Brick-and-Mortar Stores," Interfaces, INFORMS, vol. 51(1), pages 76-89, February.
  18. Torpong Cheevaprawatdomrong & Robert L. Smith, 2004. "Infinite Horizon Production Scheduling in Time-Varying Systems Under Stochastic Demand," Operations Research, INFORMS, vol. 52(1), pages 105-115, February.
  19. Yossi Aviv & Awi Federgruen, 2001. "Design for Postponement: A Comprehensive Characterization of Its Benefits Under Unknown Demand Distributions," Operations Research, INFORMS, vol. 49(4), pages 578-598, August.
  20. Erhan Bayraktar & Michael Ludkovski, 2010. "Inventory management with partially observed nonstationary demand," Annals of Operations Research, Springer, vol. 176(1), pages 7-39, April.
  21. Lucy Gongtao Chen & Lawrence W. Robinson & Robin O. Roundy & Rachel Q. Zhang, 2015. "Technical Note—New Sufficient Conditions for ( s, S ) Policies to be Optimal in Systems with Multiple Uncertainties," Operations Research, INFORMS, vol. 63(1), pages 186-197, February.
  22. Lian, Zhaotong & Liu, Xiaoming & Zhao, Ning, 2009. "A perishable inventory model with Markovian renewal demands," International Journal of Production Economics, Elsevier, vol. 121(1), pages 176-182, September.
  23. Scarf, Herbert E., 2005. "Optimal inventory policies when sales are discretionary," International Journal of Production Economics, Elsevier, vol. 93(1), pages 111-119, January.
  24. Awi Federgruen & Min Wang, 2015. "Inventory Models with Shelf-Age and Delay-Dependent Inventory Costs," Operations Research, INFORMS, vol. 63(3), pages 701-715, June.
  25. Manafzadeh Dizbin, Nima & Tan, Barış, 2020. "Optimal control of production-inventory systems with correlated demand inter-arrival and processing times," International Journal of Production Economics, Elsevier, vol. 228(C).
  26. Gen Sakoda & Hideki Takayasu & Misako Takayasu, 2019. "Data Science Solutions for Retail Strategy to Reduce Waste Keeping High Profit," Sustainability, MDPI, vol. 11(13), pages 1-30, June.
  27. Alain Bensoussan & Lama Moussawi-Haidar & Metin Çakanyıldırım, 2010. "Inventory control with an order-time constraint: optimality, uniqueness and significance," Annals of Operations Research, Springer, vol. 181(1), pages 603-640, December.
  28. Suresh P. Sethi & Houmin Yan & Hanqin Zhang, 2003. "Inventory Models with Fixed Costs, Forecast Updates, and Two Delivery Modes," Operations Research, INFORMS, vol. 51(2), pages 321-328, April.
  29. Xiang, Mengyuan & Rossi, Roberto & Martin-Barragan, Belen & Tarim, S. Armagan, 2023. "A mathematical programming-based solution method for the nonstationary inventory problem under correlated demand," European Journal of Operational Research, Elsevier, vol. 304(2), pages 515-524.
  30. Arifoglu, Kenan & Özekici, Süleyman, 2011. "Inventory management with random supply and imperfect information: A hidden Markov model," International Journal of Production Economics, Elsevier, vol. 134(1), pages 123-137, November.
  31. Joseph M. Milner & Panos Kouvelis, 2005. "Order Quantity and Timing Flexibility in Supply Chains: The Role of Demand Characteristics," Management Science, INFORMS, vol. 51(6), pages 970-985, June.
  32. Alp Muharremoglu & John N. Tsitsiklis, 2008. "A Single-Unit Decomposition Approach to Multiechelon Inventory Systems," Operations Research, INFORMS, vol. 56(5), pages 1089-1103, October.
  33. Guillermo Gallego & Özalp Özer, 2001. "Integrating Replenishment Decisions with Advance Demand Information," Management Science, INFORMS, vol. 47(10), pages 1344-1360, October.
  34. Nagaraja, C.H. & Thavaneswaran, A. & Appadoo, S.S., 2015. "Measuring the bullwhip effect for supply chains with seasonal demand components," European Journal of Operational Research, Elsevier, vol. 242(2), pages 445-454.
  35. Retsef Levi & Cong Shi, 2013. "Approximation Algorithms for the Stochastic Lot-Sizing Problem with Order Lead Times," Operations Research, INFORMS, vol. 61(3), pages 593-602, June.
  36. Jianqiang Hu & Cheng Zhang & Chenbo Zhu, 2016. "( s , S ) Inventory Systems with Correlated Demands," INFORMS Journal on Computing, INFORMS, vol. 28(4), pages 603-611, November.
  37. 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.
  38. Long Gao & Susan H. Xu & Michael O. Ball, 2012. "Managing an Available-to-Promise Assembly System with Dynamic Short-Term Pseudo-Order Forecast," Management Science, INFORMS, vol. 58(4), pages 770-790, April.
  39. Xiang, Mengyuan & Rossi, Roberto & Martin-Barragan, Belen & Tarim, S. Armagan, 2018. "Computing non-stationary (s, S) policies using mixed integer linear programming," European Journal of Operational Research, Elsevier, vol. 271(2), pages 490-500.
  40. Xin Chen & Melvyn Sim & David Simchi-Levi & Peng Sun, 2007. "Risk Aversion in Inventory Management," Operations Research, INFORMS, vol. 55(5), pages 828-842, October.
  41. Gah-Yi Ban, 2020. "Confidence Intervals for Data-Driven Inventory Policies with Demand Censoring," Operations Research, INFORMS, vol. 68(2), pages 309-326, March.
  42. Feng Cheng & Suresh P. Sethi, 1999. "A Periodic Review Inventory Model with Demand Influenced by Promotion Decisions," Management Science, INFORMS, vol. 45(11), pages 1510-1523, November.
  43. Nasr, Walid W. & Maddah, Bacel, 2015. "Continuous (s, S) policy with MMPP correlated demand," European Journal of Operational Research, Elsevier, vol. 246(3), pages 874-885.
  44. Woonghee Tim Huh & Ganesh Janakiraman & Mahesh Nagarajan, 2011. "Average Cost Single-Stage Inventory Models: An Analysis Using a Vanishing Discount Approach," Operations Research, INFORMS, vol. 59(1), pages 143-155, February.
  45. Borga Deniz, 2012. "Inventory Control with Advance Demand Information When Demand is Intermittent," Business and Management Research, Business and Management Research, Sciedu Press, vol. 1(4), pages 35-45, December.
  46. Walid W. Nasr, 2022. "Inventory systems with stochastic and batch demand: computational approaches," Annals of Operations Research, Springer, vol. 309(1), pages 163-187, February.
  47. Iida, Tetsuo, 2002. "A non-stationary periodic review production-inventory model with uncertain production capacity and uncertain demand," European Journal of Operational Research, Elsevier, vol. 140(3), pages 670-683, August.
  48. Sandun C. Perera & Suresh P. Sethi, 2023. "A survey of stochastic inventory models with fixed costs: Optimality of (s, S) and (s, S)‐type policies—Discrete‐time case," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 131-153, January.
  49. Fleischhacker, Adam J. & Zhao, Yao, 2011. "Planning for demand failure: A dynamic lot size model for clinical trial supply chains," European Journal of Operational Research, Elsevier, vol. 211(3), pages 496-506, June.
  50. Liu, Shuren & Liu, Changgeng & Hu, Qiying, 2013. "Optimal procurement strategies by reverse auctions with stochastic demand," Economic Modelling, Elsevier, vol. 35(C), pages 430-435.
  51. Xiaoming Li, 2013. "Managing Dynamic Inventory Systems with Product Returns: A Markov Decision Process," Journal of Optimization Theory and Applications, Springer, vol. 157(2), pages 577-592, May.
  52. Cong Shi & Huanan Zhang & Xiuli Chao & Retsef Levi, 2014. "Approximation algorithms for capacitated stochastic inventory systems with setup costs," Naval Research Logistics (NRL), John Wiley & Sons, vol. 61(4), pages 304-319, June.
  53. Xiuli Chao & Xiting Gong & Cong Shi & Huanan Zhang, 2015. "Approximation Algorithms for Perishable Inventory Systems," Operations Research, INFORMS, vol. 63(3), pages 585-601, June.
  54. 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.
  55. Peter Berling & Kaj Rosling, 2005. "The Effects of Financial Risks on Inventory Policy," Management Science, INFORMS, vol. 51(12), pages 1804-1815, December.
  56. Jean-Philippe Gayon & Isilay Talay-Degirmenci & F. Karaesmen & L. Örmeci, 2009. "Optimal Pricing and Production Policies of a Make-to-Stock System with Fluctuating Demand," Post-Print hal-00363686, HAL.
  57. D. Beyer & S. P. Sethi, 1999. "The Classical Average-Cost Inventory Models of Iglehart and Veinott–Wagner Revisited," Journal of Optimization Theory and Applications, Springer, vol. 101(3), pages 523-555, June.
  58. Mohebbi, E., 2008. "A note on a production control model for a facility with limited storage capacity in a random environment," European Journal of Operational Research, Elsevier, vol. 190(2), pages 562-570, October.
  59. Harun Avci & Kagan Gokbayrak & Emre Nadar, 2020. "Structural Results for Average‐Cost Inventory Models with Markov‐Modulated Demand and Partial Information," Production and Operations Management, Production and Operations Management Society, vol. 29(1), pages 156-173, January.
  60. Valentini, Giovanni & Zavanella, Lucio, 2003. "The consignment stock of inventories: industrial case and performance analysis," International Journal of Production Economics, Elsevier, vol. 81(1), pages 215-224, January.
  61. George Hall & John Rust, 2007. "The (S,s) Policy is an Optimal Trading Strategy in a Class of Commodity Price Speculation Problems," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(3), pages 515-538, March.
  62. Yossi Aviv & Amit Pazgal, 2005. "A Partially Observed Markov Decision Process for Dynamic Pricing," Management Science, INFORMS, vol. 51(9), pages 1400-1416, September.
  63. Mohebbi, Esmail, 2006. "A production-inventory model with randomly changing environmental conditions," European Journal of Operational Research, Elsevier, vol. 174(1), pages 539-552, October.
  64. E J Lodree Jr & S Taskin, 2008. "An insurance risk management framework for disaster relief and supply chain disruption inventory planning," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 59(5), pages 674-684, May.
  65. D. Beyer & S. P. Sethi & M. Taksar, 1998. "Inventory Models with Markovian Demands and Cost Functions of Polynomial Growth," Journal of Optimization Theory and Applications, Springer, vol. 98(2), pages 281-323, August.
  66. Lijian Lu & Xiaoming Yan, 2016. "Capacity investment decisions under risk aversion," Naval Research Logistics (NRL), John Wiley & Sons, vol. 63(3), pages 218-235, April.
  67. Arifoglu, Kenan & Özekici, Süleyman, 2010. "Optimal policies for inventory systems with finite capacity and partially observed Markov-modulated demand and supply processes," European Journal of Operational Research, Elsevier, vol. 204(3), pages 421-438, August.
  68. Argon, Nilay Tanik & Gullu, Refik & Erkip, Nesim, 2001. "Analysis of an inventory system under backorder correlated deterministic demand and geometric supply process," International Journal of Production Economics, Elsevier, vol. 71(1-3), pages 247-254, May.
  69. Jinhui Han & Suresh P. Sethi & Chi Chung Siu & Sheung Chi Phillip Yam, 2023. "Co‐op advertising in randomly fluctuating markets," Production and Operations Management, Production and Operations Management Society, vol. 32(6), pages 1617-1635, June.
  70. Paul Zipkin, 2008. "On the Structure of Lost-Sales Inventory Models," Operations Research, INFORMS, vol. 56(4), pages 937-944, August.
  71. Lu Huang & Jing-Sheng Song & Jordan Tong, 2016. "Supply Chain Planning for Random Demand Surges: Reactive Capacity and Safety Stock," Manufacturing & Service Operations Management, INFORMS, vol. 18(4), pages 509-524, October.
  72. Yossi Aviv, 2001. "The Effect of Collaborative Forecasting on Supply Chain Performance," Management Science, INFORMS, vol. 47(10), pages 1326-1343, October.
  73. Nasr, Walid W. & Elshar, Ibrahim J., 2018. "Continuous inventory control with stochastic and non-stationary Markovian demand," European Journal of Operational Research, Elsevier, vol. 270(1), pages 198-217.
  74. Alexandar Angelus & Evan L. Porteus, 2008. "An Asset Assembly Problem," Operations Research, INFORMS, vol. 56(3), pages 665-680, June.
  75. Pirayesh Neghab, Davood & Khayyati, Siamak & Karaesmen, Fikri, 2022. "An integrated data-driven method using deep learning for a newsvendor problem with unobservable features," European Journal of Operational Research, Elsevier, vol. 302(2), pages 482-496.
  76. Zhang, Dali & Xu, Huifu & Wu, Yue, 2009. "Single and multi-period optimal inventory control models with risk-averse constraints," European Journal of Operational Research, Elsevier, vol. 199(2), pages 420-434, December.
  77. Guillermo Gallego & Özalp Özer, 2003. "Optimal Replenishment Policies for Multiechelon Inventory Problems Under Advance Demand Information," Manufacturing & Service Operations Management, INFORMS, vol. 5(2), pages 157-175, February.
  78. Chaithanya Bandi & Eojin Han & Omid Nohadani, 2019. "Sustainable Inventory with Robust Periodic-Affine Policies and Application to Medical Supply Chains," Management Science, INFORMS, vol. 65(10), pages 4636-4655, October.
  79. Amar Sapra & Van-Anh Truong & Rachel Q. Zhang, 2010. "How Much Demand Should Be Fulfilled?," Operations Research, INFORMS, vol. 58(3), pages 719-733, June.
  80. Yin, Rui & Rajaram, Kumar, 2007. "Joint pricing and inventory control with a Markovian demand model," European Journal of Operational Research, Elsevier, vol. 182(1), pages 113-126, October.
  81. Xin Chen & David Simchi-Levi, 2004. "Coordinating Inventory Control and Pricing Strategies with Random Demand and Fixed Ordering Cost: The Finite Horizon Case," Operations Research, INFORMS, vol. 52(6), pages 887-896, December.
  82. Luo, Sha & Ahiska, S. Sebnem & Fang, Shu-Cherng & King, Russell E. & Warsing, Donald P. & Wu, Shuohao, 2021. "An analysis of optimal ordering policies for a two-supplier system with disruption risk," Omega, Elsevier, vol. 105(C).
  83. Sandun C. Perera & Suresh P. Sethi, 2023. "A survey of stochastic inventory models with fixed costs: Optimality of (s, S) and (s, S)‐type policies—Continuous‐time case," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 154-169, January.
IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.