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

DOI10.1287/OPRE.2017.1623MaRDI QIDQ4598653zbMATH OpenOpenAlexFDO

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

zbMATH Keywords

\((r,q)\) policyasymptotic analysisclosed-form solutionsheavy-traffic limiti.i.d. lead times

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

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Cited in

(7)

• 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
• The Joint Effect of Leadtime Variance and Lot Size in a Parallel Processing Environment
• Spatial capacity planning
• Exploiting random lead times for significant inventory cost savings
• New policies exploiting randomness of lead times in inventory systems
• Deep controlled learning for inventory control

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