On the Optimal Policy Structure in Serial Inventory Systems with Lost Sales
نویسندگان
چکیده
منابع مشابه
On the Optimal Policy Structure in Serial Inventory Systems with Lost Sales
We study a periodically reviewed, serial inventory system in which excess demand from external customers is lost. We derive elementary properties of the vector of optimal order quantities in this system. In particular, we derive bounds on the sensitivity (or, more mathematically, the derivative) of the optimal order quantity at each stage to the vector of the current inventory levels. Our analy...
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We reinterpret the structural analysis of Karlin and Scarf and Morton of the standard lost-sales inventory system. This version of the results is, we think, easier to work with than the original. We also recover their bounds on the optimal policy and derive new ones. Then, we show that more variable demand leads to higher cost. Finally, we extend the analysis to several important variations of ...
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We consider a periodic-review single-location single-product inventory system with lost sales and positive replenishment lead times. It is well known that the optimal policy does not possess a simple structure. Motivated by recent results showing that base-stock policies perform well in these systems, we study the problem of finding the best base-stock policy in such a system. In contrast to th...
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ژورنال
عنوان ژورنال: Operations Research
سال: 2010
ISSN: 0030-364X,1526-5463
DOI: 10.1287/opre.1090.0716