A Simple Heuristic for Computing Nonstationary (s, S) Policies

DOI10.1287/OPRE.47.4.576zbMATH Open1014.90001OpenAlexW2141040903MaRDI QIDQ4545665FDOQ4545665

Authors: Srinivas Bollapragada, Thomas E. Morton 

Publication date: 17 July 2003

Published in: Operations Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/opre.47.4.576

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zbMATH Keywords

dynamic programmingheuristicnonstationary inventory problem

Mathematics Subject Classification ID

Dynamic programming (90C39) Inventory, storage, reservoirs (90B05)

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• Approximation algorithm for the stochastic multiperiod inventory problem via a look-ahead optimization approach
• Computing optimal \((R, s, S)\) policy parameters by a hybrid of branch-and-bound and stochastic dynamic programming
• Big data driven order-up-to level model: application of machine learning
• Constraint programming for computing non-stationary \((R, S)\) inventory policies
• Continuous inventory control with stochastic and non-stationary Markovian demand
• An efficient heuristic for inventory control when the customer is using a \((s,S)\) policy
• Stochastic dynamic programming heuristic for the \((R,s,S)\) policy parameters computation
• Approximations for non-stationary stochastic lot-sizing under \((s,Q)\)-type policy
• Managing premium wines using an \((s - 1,s)\) inventory policy: a heuristic solution approach
• Optimal inventory control and allocation for sequential internet auctions

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