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EOR
2006
81views more  EOR 2006»
13 years 7 months ago
Optimal and near-optimal policies for lost sales inventory models with at most one replenishment order outstanding
In this paper we use policy-iteration to explore the behaviour of optimal control policies for lost sales inventory models with the constraint that not more than one replenishment...
Roger M. Hill, Søren Glud Johansen
AUTOMATICA
2006
152views more  AUTOMATICA 2006»
13 years 7 months ago
Simulation-based optimization of process control policies for inventory management in supply chains
A simulation-based optimization framework involving simultaneous perturbation stochastic approximation (SPSA) is presented as a means for optimally specifying parameters of intern...
Jay D. Schwartz, Wenlin Wang, Daniel E. Rivera
EOR
2007
89views more  EOR 2007»
13 years 7 months ago
Note: An application of the EOQ model with nonlinear holding cost to inventory management of perishables
In this note, we consider a variation of the economic order quantity (EOQ) model where cumulative holding cost is a nonlinear function of time. This problem has been studied by We...
Mark Ferguson, Vaidy Jayaraman, Gilvan C. Souza
IJSYSC
2008
82views more  IJSYSC 2008»
13 years 7 months ago
Supply-chain modelling and control under proportional inventory-replenishment policies
A novel state-space model of a multi-node supply chain is presented, controlled via local proportional inventory-replenishment policies. The model is driven by a stochastic sequen...
C. I. Papanagnou, G. D. Halikias
EOR
2007
62views more  EOR 2007»
13 years 7 months ago
Economic order quantity under conditionally permissible delay in payments
Within the economic order quantity (EOQ) framework, the main purpose of this paper is to investigate the retailerÕs optimal replenishment policy under permissible delay in paymen...
Yung-Fu Huang