Technical Note—On the Quasiconcavity of Lost-Sales Inventory Models with Fixed Costs

2012 ◽  
Vol 60 (2) ◽  
pp. 286-291 ◽  
Author(s):  
Qing Li ◽  
Peiwen Yu
Keyword(s):  
Technical Note ◽  
Lost Sales ◽  
Fixed Costs ◽  
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.

Technical Note—Time Inconsistency of Optimal Policies of Distributionally Robust Inventory Models

2020 ◽  
Vol 68 (5) ◽  
pp. 1576-1584 ◽  
Author(s):  
Alexander Shapiro ◽  
Linwei Xin
Keyword(s):  
Decision Making ◽  
Large Class ◽  
Risk Measures ◽  
Technical Note ◽  
Time Inconsistency ◽  
Base Stock ◽  
Risk Averse ◽  
Inventory Models ◽  
Optimal Policies ◽  
Distributionally Robust

The authors extend previous studies of time inconsistency to risk averse (distributionally robust) inventory models and show that time inconsistency is not unique to robust multistage decision making, but may happen for a large class of risk averse/distributionally robust settings. In particular, they demonstrate that if the respective risk measures are not strictly monotone, then there may exist infinitely many optimal policies which are not base-stock and not time consistent. This is in a sharp contrast with the risk neutral formulation of the inventory model where all optimal policies are base-stock and time consistent.

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
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