SDP in Inventory Control: Non-stationary Demand and Service Level Constraints

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

doi:10.1007/978-3-319-21407-8_29

SDP in Inventory Control: Non-stationary Demand and Service Level Constraints

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

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

7 Citations (Scopus)

Abstract

Inventory control implies dynamic decision making. Therefore, dynamic programming seems an appropriate approach to look for order policies. For finite horizon planning, the implementation of service level constraints provides a big challenge. This paper illustrates with small instances the implementation of stochastic dynamic programming (SDP) to derive order policies in a straightforward way for systems with non-stationary demand and service level constraints. The small instances allow to perform a full enumeration of possible policies and show that the SDP derived policies are not necessarily optimal.

Original language	English
Title of host publication	Computational Science and Its Applications CSA 2015, Part II
Editors	O. Gervasi, B. Murgante, S. Misra, M.L. Gavrilova, A.M. Alves Coutinho Rocha, C. Torre, D. Taniar, B.O. Apduhan
Place of Publication	Cham, Switzerland
Pages	397-412
DOIs	https://doi.org/10.1007/978-3-319-21407-8_29
Publication status	Published - 2015

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Publisher	Springer
Number	9156

Keywords

Inventory control
Non-stationary demand
Service level constraint
Stochastic dynamic programming

Access to Document

10.1007/978-3-319-21407-8_29

Cite this

Pauls-Worm, K. G. J., & Hendrix, E. M. T. (2015). SDP in Inventory Control: Non-stationary Demand and Service Level Constraints. In O. Gervasi, B. Murgante, S. Misra, M. L. Gavrilova, A. M. Alves Coutinho Rocha, C. Torre, D. Taniar, & B. O. Apduhan (Eds.), Computational Science and Its Applications CSA 2015, Part II (pp. 397-412). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); No. 9156).. https://doi.org/10.1007/978-3-319-21407-8_29

Pauls-Worm, K.G.J. ; Hendrix, E.M.T. / SDP in Inventory Control: Non-stationary Demand and Service Level Constraints. Computational Science and Its Applications CSA 2015, Part II. editor / O. Gervasi ; B. Murgante ; S. Misra ; M.L. Gavrilova ; A.M. Alves Coutinho Rocha ; C. Torre ; D. Taniar ; B.O. Apduhan. Cham, Switzerland, 2015. pp. 397-412 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); 9156).

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Pauls-Worm, KGJ & Hendrix, EMT 2015, SDP in Inventory Control: Non-stationary Demand and Service Level Constraints. in O Gervasi, B Murgante, S Misra, ML Gavrilova, AM Alves Coutinho Rocha, C Torre, D Taniar & BO Apduhan (eds), Computational Science and Its Applications CSA 2015, Part II. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), no. 9156, Cham, Switzerland, pp. 397-412. https://doi.org/10.1007/978-3-319-21407-8_29

SDP in Inventory Control: Non-stationary Demand and Service Level Constraints. / Pauls-Worm, K.G.J.; Hendrix, E.M.T.
Computational Science and Its Applications CSA 2015, Part II. ed. / O. Gervasi; B. Murgante; S. Misra; M.L. Gavrilova; A.M. Alves Coutinho Rocha; C. Torre; D. Taniar; B.O. Apduhan. Cham, Switzerland, 2015. p. 397-412 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); No. 9156).

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

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KW - Service level constraint

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Pauls-Worm KGJ , Hendrix EMT. SDP in Inventory Control: Non-stationary Demand and Service Level Constraints. In Gervasi O, Murgante B, Misra S, Gavrilova ML, Alves Coutinho Rocha AM, Torre C, Taniar D, Apduhan BO, editors, Computational Science and Its Applications CSA 2015, Part II. Cham, Switzerland. 2015. p. 397-412. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); 9156). doi: 10.1007/978-3-319-21407-8_29

SDP in Inventory Control: Non-stationary Demand and Service Level Constraints

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