On solving a stochastic programming model for perishable inventory control

E.M.T. Hendrix; R. Haijema; R. Rossi; K.G.J. Pauls-Worm

doi:10.1007/978-3-642-31137-6_4

On solving a stochastic programming model for perishable inventory control

E.M.T. Hendrix, R. Haijema, R. Rossi, K.G.J. Pauls-Worm

Research output: Chapter in Book/Report/Conference proceeding › Conference paper › Academic › peer-review

9 Citations (Scopus)

Abstract

This paper describes and analyses a Stochastic Programming (SP) model that is used for a specific inventory control problem for a perishable product. The decision maker is confronted with a non-stationary random demand for a fixed shelf life product and wants to make an ordering plan for a finite horizon that satisfies a service level constraint. In literature several approaches have been described to generate approximate solutions. The question dealt with here is whether exact approaches can be developed that generate solutions up to a guaranteed accuracy. Specifically, we look into the implications of a Stochastic Dynamic Programming (SDP) approach.

Original language	English
Title of host publication	Proceedings of the 12th International Conference, 18-21 June 2012, Salvador de Bahia, Brazil, Proceedings Part III
Editors	B. Murgante, G. Osvaldo, S. Misra
Place of Publication	Heidelberg
Publisher	Springer
Pages	45-56
Volume	7333
ISBN (Print)	9783642311376
DOIs	https://doi.org/10.1007/978-3-642-31137-6_4
Publication status	Published - 2012
Event	ICCSA 2012, part III - Duration: 18 Jun 2012 → 21 Jun 2012

Conference

Conference	ICCSA 2012, part III
Period	18/06/12 → 21/06/12

Keywords

Dynamic Programming
Inventory control
Perishable products
Service level constraint
Stochastic Programming

Access to Document

10.1007/978-3-642-31137-6_4

TIFN Reduction spoilage products (KB-15-002-019)
Snels, J.
1/01/12 → 31/12/15
Project: EZproject

Cite this

Hendrix, E. M. T., Haijema, R., Rossi, R., & Pauls-Worm, K. G. J. (2012). On solving a stochastic programming model for perishable inventory control. In B. Murgante, G. Osvaldo, & S. Misra (Eds.), Proceedings of the 12th International Conference, 18-21 June 2012, Salvador de Bahia, Brazil, Proceedings Part III (Vol. 7333, pp. 45-56). Springer. https://doi.org/10.1007/978-3-642-31137-6_4

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Hendrix, EMT , Haijema, R, Rossi, R & Pauls-Worm, KGJ 2012, On solving a stochastic programming model for perishable inventory control. in B Murgante, G Osvaldo & S Misra (eds), Proceedings of the 12th International Conference, 18-21 June 2012, Salvador de Bahia, Brazil, Proceedings Part III. vol. 7333, Springer, Heidelberg, pp. 45-56, ICCSA 2012, part III, 18/06/12. https://doi.org/10.1007/978-3-642-31137-6_4

On solving a stochastic programming model for perishable inventory control. / Hendrix, E.M.T.; Haijema, R.; Rossi, R. et al.
Proceedings of the 12th International Conference, 18-21 June 2012, Salvador de Bahia, Brazil, Proceedings Part III. ed. / B. Murgante; G. Osvaldo; S. Misra. Vol. 7333 Heidelberg: Springer, 2012. p. 45-56.

Research output: Chapter in Book/Report/Conference proceeding › Conference paper › Academic › peer-review

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AB - This paper describes and analyses a Stochastic Programming (SP) model that is used for a specific inventory control problem for a perishable product. The decision maker is confronted with a non-stationary random demand for a fixed shelf life product and wants to make an ordering plan for a finite horizon that satisfies a service level constraint. In literature several approaches have been described to generate approximate solutions. The question dealt with here is whether exact approaches can be developed that generate solutions up to a guaranteed accuracy. Specifically, we look into the implications of a Stochastic Dynamic Programming (SDP) approach.

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On solving a stochastic programming model for perishable inventory control

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TIFN Reduction spoilage products (KB-15-002-019)

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