We introduce a novel strategy to address the issue of demand estimation in single-item single-period stochastic inventory optimisation problems. Our strategy analytically combines confidence interval analysis and inventory optimisation. We assume that the decision maker is given a set of past demand samples and we employ confidence interval analysis in order to identify a range of candidate ord...

We introduce a novel strategy to address the issue of demand estimation in single-item single-period stochastic inventory optimisation problems. Our strategy analytically combines confidence interval analysis and inventory optimisation. We assume that the decision maker is given a set of past demand samples and we employ confidence interval analysis in order to identify a range of candidate ord...

We address the problem of computing optimal policies for a finite-horizon newsvendor model with censored demand and perishable inventory. By combining an earlyperiod optimization based grid search with easily computable late-period bounds, we are able to handle a broad range of demand distributions and prior specifications. The grid-search is performed on a discretization of the demand-decision...

This paper analyzes a two-facility location problem under demand uncertainty. The maximum server for the ith facility is M i i( , ). = 1 2 It is assumed that primary service demand arrivals for the ith facility follow a Poisson process. Each customer chooses one of the facilities with a probability which depends on his or her distance to each facility. The service times are assumed to be expone...

Efficient supply chain management relies on accurate demand forecasting. Typically, forecasts are required at frequent intervals for many items. Forecasting methods suitable for this application are those that can be relied upon to produce robust and accurate predictions when implemented within an automated procedure. Exponential smoothing methods are a common choice. In this empirical case stu...

The need for protein or the amount of needed by fish sector in Indonesia has never been recorded and known. Although demand aquatic feeds is very high, data related to requirements feed be known determining urgency providing substitutes feed. So, it necessary predict based on a series production data. This study predicted Nile tilapia (Oreochromis niloticus). Three exponential smoothing approac...