Optimizing (s, S) policies for multi-period inventory models with demand distribution uncertainty: Robust dynamic programming approaches

• Main Authors: QIU, Ruozhen, SUN, Minghe, LIM, Yun Fong
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: inventory; periodic-review (s; S) policy; robust optimization; demand distribution uncertainty; dynamic programming; Operations and Supply Chain Management
• Online Access: 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
• Institution: Singapore Management University

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...