Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches
We consider a finite-horizon single-product periodic-review inventory managementproblem with demand distribution uncertainty. We formulate the problemas a dynamic program and prove the existence of an optimal (s, S) policy. Thecorresponding dynamic robust counterpart models are then developed for th...
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Institutional Knowledge at Singapore Management University
2017
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| الوصول للمادة أونلاين: | https://ink.library.smu.edu.sg/lkcsb_research/5110 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6109/viewcontent/yflim_EJOR2017_complete.pdf |
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sg-smu-ink.lkcsb_research-61092017-05-31T01:55:32Z Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches QIU, Ruozhen SUN, Minghe LIM, Yun Fong We consider a finite-horizon single-product periodic-review inventory managementproblem with demand distribution uncertainty. We formulate the problemas a dynamic program and prove the existence of an optimal (s, S) policy. Thecorresponding dynamic robust counterpart models are then developed for thebox and the ellipsoid uncertainty sets. These counterpart models are transformedinto tractable linear and second-order cone programs, respectively. Weillustrate the effectiveness and practicality of the proposed robust optimizationapproaches through a numerical study. 2017-09-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/5110 info:doi/10.1016/j.ejor.2017.02.027 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6109/viewcontent/yflim_EJOR2017_complete.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University inventory periodic-review (s S) policy robust optimization demand distribution uncertainty dynamic programming Operations and Supply Chain Management |
| institution |
Singapore Management University |
| building |
SMU Libraries |
| continent |
Asia |
| country |
Singapore Singapore |
| content_provider |
SMU Libraries |
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InK@SMU |
| language |
English |
| topic |
inventory periodic-review (s S) policy robust optimization demand distribution uncertainty dynamic programming Operations and Supply Chain Management |
| spellingShingle |
inventory periodic-review (s S) policy robust optimization demand distribution uncertainty dynamic programming Operations and Supply Chain Management QIU, Ruozhen SUN, Minghe LIM, Yun Fong Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches |
| description |
We consider a finite-horizon single-product periodic-review inventory managementproblem with demand distribution uncertainty. We formulate the problemas a dynamic program and prove the existence of an optimal (s, S) policy. Thecorresponding dynamic robust counterpart models are then developed for thebox and the ellipsoid uncertainty sets. These counterpart models are transformedinto tractable linear and second-order cone programs, respectively. Weillustrate the effectiveness and practicality of the proposed robust optimizationapproaches through a numerical study. |
| format |
text |
| author |
QIU, Ruozhen SUN, Minghe LIM, Yun Fong |
| author_facet |
QIU, Ruozhen SUN, Minghe LIM, Yun Fong |
| author_sort |
QIU, Ruozhen |
| title |
Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches |
| title_short |
Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches |
| title_full |
Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches |
| title_fullStr |
Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches |
| title_full_unstemmed |
Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches |
| title_sort |
optimizing (s, s) policies for multi-period inventory models with demand distribution uncertainty: robust dynamic programming approaches |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
2017 |
| url |
https://ink.library.smu.edu.sg/lkcsb_research/5110 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6109/viewcontent/yflim_EJOR2017_complete.pdf |
| _version_ |
1770573218388639744 |