We study several joint facility location and inventory management problems with stochastic retailer demand. In particular, we consider cases with uncapacitated facilities, capacitated facilities, correlated retailer demand, stochastic lead times, and multicommodities. We show how to formulate these problems as conic quadratic mixed-integer problems. Valid inequalities, including extended polyma...

In this work, we consider a continuous-time inventory system where the demand process follows an inventory-dependent diffusion process. The ordering cost of each order depends on quantity and is given by general function, which not even necessarily continuous monotone. By applying lower bound approach together with comparison theorem, show global optimality (s,S) policy for ergodic control prob...

This paper explains the development of Multifunctional Barcode Inventory Management System (MBIMS) to manage inventory and stock ordering. Today, most of the retailing market is still manually record their stocks and its effectiveness is quite low. By providing MBIMS, it will bring effectiveness to retailing market in inventory management. MBIMS will not only save time in recording input, outpu...

We consider a single-period assortment planning and inventory management problem for a retailer, using a locational choice model to represent consumer demand. We first determine the optimal variety, product location, and inventory decisions under static substitution, and show that the optimal assortment consists of products equally spaced out such that there is no substitution among them regard...

The significance of the basic idea implicit in the moving horizon control (MHC) has been recognized a long time ago in the operations management literature as a tractable scheme for solving stochastic multi period optimization problems, such as production planning and supply chain management, under the term moving horizon. In this paper, a moving horizon controller with move suppression term us...

Customers with positive demand lead times place orders in advance of their needs. A portfolio of customers with different demand lead times gives rise to what we call advance demand information. We develop effective inventory policies for a distribution system to account for this information. In particular, we study a centralized system with one warehouse serving multiple retailers under advanc...

Disassembly lines are the best way to disassemble products with similar components in large quantities. A disassembly line consists of a series of workstations. However, unlike their assembly counterpart, disassembly lines are affected by factors such as multiple component demand arrivals and end-of-life (EOL) product arrivals, uncertainty in EOL product and component demand arrivals and varyin...

In this paper, we establish a new preservation property of quasi-K-concavity under certain optimization operations. One important application of the result is to analyze joint inventory-pricing models for single-product periodic-review inventory systems with concave ordering costs. At each period, an ordering quantity and a selling price of the product are determined simultaneously. Demand is r...

We study the pricing problem of a retailer facing the prospect of a change in the demand function during a finite selling season with no inventory replenishment opportunity. In particular, the time and the form of change in demand are unknown upfront and we focus on the fundamental trade-off between collecting revenues from current demand and doing so for post-change demand, those being linked ...

Abstract In this paper, we propose a new robust cycle-based control policy for single installation inventory models with non-stationary uncertain demand. The policy is simple, flexible, easily implementable and preliminary numerical experiments suggest that the policy has very promising empirical performance. The policy can be used both when the excess demand is backlogged as well as when it is...