The Finite Horizon Nonstationary Stochastic Inventory Problem: Near-Myopic Bounds, Heuristics, Testing

DOI10.1287/MNSC.41.2.334zbMATH Open0837.90035OpenAlexW2092132298MaRDI QIDQ4849347FDOQ4849347

Authors: Thomas E. Morton, David W. Pentico 

Publication date: 9 November 1995

Published in: Management Science (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/mnsc.41.2.334

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zbMATH Keywords

upper boundfinite horizonnonstationary stochastic periodic review inventory problems

Mathematics Subject Classification ID

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

Cited In (24)

• Stopped Myopic Policies in Some Inventory Models with Generalized Demand Processes
• Inventory decisions with decreasing purchasing costs
• A Simple Heuristic for Computing Nonstationary (s, S) Policies
• The infinite horizon non-stationary stochastic multi-echelon inventory problem and near-myopic policies
• Error analysis of an approximate optimal policy for an inventory system with stochastic and continuous demands
• The infinite horizon non-stationary stochastic inventory problem: Near myopic policies and weak ergodicity
• Inventory Planning with Forecast Updates: Approximate Solutions and Cost Error Bounds
• Near Myopic Heuristics for the Fixed-Life Perishability Problem
• Demand seasonality in retail inventory management
• A study on the optimal inventory allocation for clinical trial supply chains
• An efficient lot-sizing heuristic for a periodic-review inventory system under non-stationary stochastic demand
• Periodic review stochastic inventory problem with forecast updates: Worst-case bounds for the myopic solution
• The Nonstationary Stochastic Lead-Time Inventory Problem: Near-Myopic Bounds, Heuristics, and Testing
• A Bayesian approach to a dynamic inventory model under an unknown demand distribution
• Approximation algorithm for the stochastic multiperiod inventory problem via a look-ahead optimization approach
• Inventory models with minimal service level constraints
• Computing a Stationary Base-Stock Policy for a Finite Horizon Stochastic Inventory Problem with Non-linear Shortage Costs
• The optimality of myopic stocking policies for systems with decreasing purchasing prices
• Continuous inventory control with stochastic and non-stationary Markovian demand
• A non-stationary periodic review production-inventory model with uncertain production capacity and uncertain demand
• Enhancement of Theory of Constraints replenishment using a novel generic buffer management procedure
• Recent developments in single product, discrete-time, capacitated production-inventory systems.
• Performance bound for myopic order-up-to inventory policies under stationary demand processes
• A Dynamic and Data-Driven Approach to the News Vendor Problem Under Cyclical Demand

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