Periodic review lost-sales inventory models with compound Poisson demand and constant lead times of any length

2012 ◽  
Vol 220 (1) ◽  
pp. 106-114 ◽  
Author(s):  
Marco Bijvank ◽  
Søren Glud Johansen
Keyword(s):  
Lead Times ◽  
Lost Sales ◽  
Periodic Review ◽  
Inventory Models ◽  
Compound Poisson ◽  
Poisson Demand

1.79-Approximation Algorithms for Continuous Review Single-Sourcing Lost-Sales and Dual-Sourcing Inventory Models

2021 ◽  
Author(s):  
Linwei Xin
Keyword(s):  
Lead Time ◽  
Superior Performance ◽  
Lead Times ◽  
Lost Sales ◽  
Inventory Models ◽  
Worst Case ◽  
Dual Sourcing ◽  
Continuous Review ◽  
Poisson Demand ◽  
Single Sourcing

Stochastic inventory systems with lead times are often challenging to optimize, including single-sourcing lost-sales and dual-sourcing systems. Recent numerical results suggest that capped policies demonstrate superior performance over existing heuristics. However, the superior performance lacks a theoretical foundation. In “1.79-Approximation Algorithms for Continuous Review Single-Sourcing Lost-Sales and Dual-Sourcing Inventory Models,” the author provides a theoretical foundation for this phenomenon in two classical inventory models. First, in a continuous review lost-sales model with lead times and Poisson demand, he proves that a capped base-stock policy has a worst-case performance guarantee of 1.79 by conducting an asymptotic analysis under a large penalty cost and lead time. Second, in a more complex continuous review dual-sourcing model with general lead times and Poisson demand, he proves that a similar capped dual-index policy has a worst-case performance guarantee of 1.79 under large lead time and ordering cost differences. The results provide a deeper understanding of the superior numerical performance of capped policies and present a new approach to proving worst-case performance guarantees of simple policies in hard inventory problems.

scholarly journals Asymptotic Optimality of Constant-Order Policies for Lost Sales Inventory Models with Large Lead Times

2016 ◽  
Vol 41 (3) ◽  
pp. 898-913 ◽  
Author(s):  
David A. Goldberg ◽  
Dmitriy A. Katz-Rogozhnikov ◽  
Yingdong Lu ◽  
Mayank Sharma ◽  
Mark S. Squillante
Keyword(s):  
Asymptotic Optimality ◽  
Lead Times ◽  
Lost Sales ◽  
Inventory Models

Technical Note—Constant-Order Policies for Lost-Sales Inventory Models with Random Supply Functions: Asymptotics and Heuristic

2020 ◽  
Vol 68 (4) ◽  
pp. 1063-1073 ◽  
Author(s):  
Jinzhi Bu ◽  
Xiting Gong ◽  
Dacheng Yao
Keyword(s):  
Asymptotic Analysis ◽  
Technical Note ◽  
Lead Times ◽  
Lost Sales ◽  
Inventory Models ◽  
Supply Functions

Asymptotic analysis of constant-order policies for lost-sales inventory models with positive lead times and random supply functions.

scholarly journals Solution procedures for lost sales base-stock inventory systems with compound Poisson demand

2019 ◽  
Vol 209 ◽  
pp. 172-182 ◽  
Author(s):  
Chaaben Kouki ◽  
M. Zied Babai ◽  
Zied Jemai ◽  
Stefan Minner
Keyword(s):  
Inventory Systems ◽  
Base Stock ◽  
Lost Sales ◽  
Compound Poisson ◽  
Poisson Demand
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