Inventory management based on target-oriented robust optimization

• Main Authors: LIM, Yun Fong, WANG, Chen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: Inventory; Cost; Variability; Lead Time; Robust Optimization; Target; Operations and Supply Chain Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/4107; https://ink.library.smu.edu.sg/context/lkcsb_research/article/5106/viewcontent/yflim_MS2017.pdf
• Institution: Singapore Management University

We propose a target-oriented robust optimization approach to solve a multi-product, multi-period inventory management problem subject to ordering capacity constraints. We assume the demand for each product in each period is characterized by an uncertainty set, which depends only on a reference value...