Loans, ordering and shortage costs in start-ups: a dynamic stochastic decision approach

Loans, ordering and shortage costs in start-ups: a dynamic stochastic decision approach

Dynamic Inventory Planning with Unknown Costs and Stochastic Demand

Generally ordering policies are done by two methods, including fix order quantity (FOQ) and fix order period (FOP). These methods are static and either the quantity of ordering or the procedure of ordering is fixing in throughout time horizon. In real environments, demand is varying in any period and may be considered as uncertainty. When demand is variable in any period, the traditional and st...

Online lot-sizing problems with ordering, holding and shortage costs

We study inventorymanagement problemswhere demands are revealed incrementally and procurement decisionsmust bemade before the demands are realized. There are no probabilistic distributions nor nontrivial bounds to characterize demands. We consider two cost minimization problems: (1) perishable products with lost sales and (2) durable products with backlogged demand. In both problems, costs are ...

Modelling and Decision-making on Deteriorating Production Systems using Stochastic Dynamic Programming Approach

This study aimed at presenting a method for formulating optimal production, repair and replacement policies. The system was based on the production rate of defective parts and machine repairs and then was set up to optimize maintenance activities and related costs. The machine is either repaired or replaced. The machine is changed completely in the replacement process, but the productio...

A multiple objective approach for joint ordering and pricing planning problem with stochastic lead times

The integration of marketing and demand with logistics and inventories (supply side of companies) may cause multiple improvements; it can revolutionize the management of the revenue of rental companies, hotels, and airlines. In this paper, we develop a multi-objective pricing-inventory model for a retailer. Maximizing the retailer's profit and the service level are the objectives, and shorta...