Dynamic Inventory Policy with Varying Stochastic Demands

1960 ◽  
Vol 6 (3) ◽  
pp. 231-258 ◽  
Author(s):  
Samuel Karlin
Keyword(s):  
Inventory Policy ◽  
Stochastic Demands

scholarly journals Implementing a Vendor Managed Inventory Policy in a Two-Stage Supply Chain with Stochastic Demands

2012 ◽  
Vol 45 (6) ◽  
pp. 602-607
Author(s):  
Mohd Kamarul Irwan Abdul Rahim ◽  
El-Houssaine Aghezzaf
Keyword(s):  
Supply Chain ◽  
Vendor Managed Inventory ◽  
Two Stage ◽  
Inventory Policy ◽  
Stochastic Demands

scholarly journals Single-Manufacturer Multi-Retailer Supply Chain Models with Discrete Stochastic Demand

2021 ◽  
Vol 13 (15) ◽  
pp. 8271
Author(s):  
Yaqing Xu ◽  
Jiang Zhang ◽  
Zihao Chen ◽  
Yihua Wei
Keyword(s):  
Dynamic Programming ◽  
Supply Chain ◽  
Computational Complexity ◽  
Stackelberg Game ◽  
Programming Model ◽  
Dynamic Programming Method ◽  
Game Model ◽  
Chain Model ◽  
Stochastic Demands ◽  
Demand Models

Although there are highly discrete stochastic demands in practical supply chain problems, they are seldom considered in the research on supply chain systems, especially the single-manufacturer multi-retailer supply chain systems. There are no significant differences between continuous and discrete demand supply chain models, but the solutions for discrete random demand models are more challenging and difficult. This paper studies a supply chain system of a single manufacturer and multiple retailers with discrete stochastic demands. Each retailer faces a random discrete demand, and the manufacturer utilizes different wholesale prices to influence each retailer’s ordering decision. Both Make-To-Order and Make-To-Stock scenarios are considered. For each scenario, the corresponding Stackelberg game model is constructed respectively. By proving a series of theorems, we transfer the solution of the game model into non-linear integer programming model, which can be easily solved by a dynamic programming method. However, with the increase in the number of retailers and the production capacity of manufacturers, the computational complexity of dynamic programming drastically increases due to the Dimension Barrier. Therefore, the Fast Fourier Transform (FFT) approach is introduced, which significantly reduces the computational complexity of solving the supply chain model.

scholarly journals Three-Echelon Inventory Model with Permissible Delay in Payments under Controllable Lead Time and Backorder Consideration

2014 ◽  
Vol 2014 ◽  
pp. 1-16 ◽  
Author(s):  
M. F. Yang ◽  
Wei-Chung Tseng
Keyword(s):  
Supply Chain ◽  
Lead Time ◽  
Critical Issue ◽  
Solution Procedure ◽  
Inventory Model ◽  
Permissible Delay In Payments ◽  
Inventory Policy ◽  
Controllable Lead Time ◽  
Key Factor ◽  
Delay In Payments

This paper proposes a three-echelon inventory model with permissible delay in payments under controllable lead time and backorder consideration to find out the suitable inventory policy to enhance profit of the supply chain. In today’s highly competitive market, the supply chain management has become a critical issue in both practice and academic and supply chain members have to cooperate with each other to bring more benefits. In addition, the inventory policy is a key factor to influence the performance of the supply chain. Therefore, in this paper, we develop a three-echelon inventory model with permissible delay in payments under controllable lead time and backorder consideration. Furthermore, the purpose of this paper is to maximize the joint expect total profit on inventory model and attempt to discuss the inventory policy under different conditions. Finally, with a numerical example provided here to illustrate the solution procedure, we may discover that decision-makers can control lead time and payment time to enhance the performance of the supply chain.

Superframe Construction for Wireless Networks With Stochastic Demands

2015 ◽  
Vol 19 (10) ◽  
pp. 1694-1697 ◽  
Author(s):  
Luyao Wang ◽  
Kwan-Wu Chin ◽  
Sieteng Soh
Keyword(s):  
Wireless Networks ◽  
Stochastic Demands

Paired cooperative reoptimization strategy for the vehicle routing problem with stochastic demands

2014 ◽  
Vol 50 ◽  
pp. 1-13 ◽  
Author(s):  
Lin Zhu ◽  
Louis-Martin Rousseau ◽  
Walter Rei ◽  
Bo Li
Keyword(s):  
Vehicle Routing ◽  
Vehicle Routing Problem ◽  
Routing Problem ◽  
Stochastic Demands
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