Analysis of an inventory system with advance emand information and supply uncertainty

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2005

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Arıkan, Emel

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In this study we address a periodic review capacitated inventory system with supply uncertainty where advance demand information is available. A stochastic dynamic programming formulation is applied with the objective of minimizing the expected inventory related costs over a finite horizon. Three different supply processes are assumed. Under the all-or-nothing type supply process and partially available supply process, the structure of optimal policy is proved to be a base stock policy and numerical examples are given to demonstrate the effects of system parameters. Under Binomially distributed supply process it is shown that a simple base stock policy is not optimal.

Subject Keywords

Production management.

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http://etd.lib.metu.edu.tr/upload/12606747/index.pdf
https://hdl.handle.net/11511/15785

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Graduate School of Natural and Applied Sciences, Thesis

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Citation Formats

E. Arıkan, “Analysis of an inventory system with advance emand information and supply uncertainty,” M.S. - Master of Science, Middle East Technical University, 2005.