Solving operational statistics via a Bayesian analysis

DOI10.1016/J.ORL.2007.04.010MaRDI QIDQ924902zbMATH OpenOpenAlexFDO

Authors Leon Yang Chu, J. George Shanthikumar, Zuo-Jun (Max) Shen

Publication date 29 May 2008

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

Full work available at URL https://doi.org/10.1016/j.orl.2007.04.010

zbMATH Keywords

demand ambiguityestimation and optimizationmodel uncertaintynewsvendor modeloperational statistics

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05) Stochastic models in economics (91B70)

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Cites work

• A nonparametric asymptotic analysis of inventory planning with censored demand
• A practical inventory control policy using operational statistics
• Bayes Solution to Dynamic Inventory Models Under Unknown Demand Distribution
• Bayes Solutions of the Statistical Inventory Problem
• Bayesian analysis of a three-component hierarchical design model
• Dynamic inventory policy with varying stochastic demands
• scientific article; zbMATH DE number 3205069 (Why is no real title available?)
• Improved Fashion Buying with Bayesian Updates
• Monotone Forecasts
• Provably Near-Optimal Sampling-Based Policies for Stochastic Inventory Control Models
• Statistical decision theory. Foundations, concepts, and methods
• The Distribution Free Newsboy Problem: Review and Extensions
• The Selection of Prior Distributions by Formal Rules

Cited in

(16)

• A two-step gradient estimation approach for setting supply chain operating parameters
• The single-period (newsvendor) problem under interval grade uncertainties
• Decision-based model selection
• Optimal inventory management for a retail chain with diverse store demands
• A practical inventory control policy using operational statistics
• Dynamic pricing and inventory management with demand learning: a Bayesian approach
• The newsvendor under demand ambiguity: combining data with moment and tail information
• Directed principal component analysis
• Admissibility of solution estimators for stochastic optimization
• Nonparametric learning algorithms for joint pricing and inventory control with lost sales and censored demand
• Data-driven decisions for problems with an unspecified objective function
• Technical note: Operational statistics: properties and the risk-averse case
• Technical note: Nonparametric data-driven algorithms for multiproduct inventory systems with censored demand
• Data‐driven research in retail operations—A review
• Weak aggregating algorithm for the distribution-free perishable inventory problem
• Can accessing much data reshape the theory? Inventory theory under the challenge of data-driven systems

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