Closed-form approximations for optimal (r,q) and (S,T) policies in a parallel processing environment

DOI10.1287/OPRE.2017.1623zbMATH Open1380.90008OpenAlexW3125139474MaRDI QIDQ4598653FDOQ4598653

Authors:

Publication date: 15 December 2017

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

Full work available at URL: https://ink.library.smu.edu.sg/lkcsb_research/5831

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zbMATH Keywords

asymptotic analysisheavy-traffic limitclosed-form solutions\((r,q)\) policyi.i.d. lead times

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Cited In (4)

• Spatial capacity planning
• Exploiting random lead times for significant inventory cost savings
• Approximated closed-form minimum-cost solution to the \((r, q)\) policy with complete backordering and further developments
• Developing a closed-form cost expression for an \((R,s,nQ)\) policy where the demand process is compound generalized Erlang

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