Home
Resource
Dynamic inventory control with fixed setup costs and unknown discrete demand distribution
PDF
PDF format is widely accepted and good for printing.
Plug-in required
PDF-1(2.18 MB)
Citation & Export
View Usage Statistics
Staff View

Citation & Export
Hide

Simple citation

Davoodi, Mehdi. Dynamic inventory control with fixed setup costs and unknown discrete demand distribution. Retrieved from https://doi.org/doi:10.7282/t3-sd0t-7m17

Export

Click here for information about Citation Management Tools at Rutgers.

Statistics
Hide

Description

TitleDynamic inventory control with fixed setup costs and unknown discrete demand distribution
NameDavoodi, Mehdi (author); N. Katehakis, Michael (chair); Yang, Jian (member); N. Katehakis, Michael (member); Qi, Lian (member); Shi, Junmin (Jim) (member); Rutgers University; Graduate School - Newark
Date Created2022
Other Date2022-10 (degree)
SubjectManagement, Operations research, (sS) policy, Fixed setup cost, Inventory control, Regret
Extent105 pages
DescriptionWe study a dynamic inventory control problem involving fixed setup costs and random demand distributions. With an infinite planning horizon, model primitives including costs and distributions are set to be stationary. Under a given demand distribution, an (s,S) policy has been known to minimize the long-run per-period average cost. Out of the need to model situations involving new products or unencountered economic conditions, however, we depart from the traditional model by allowing the stationary demand distribution to be largely unknown, to the effect that it could be anywhere in a given ambiguity set. Our goal is to rein in the long-run growth of the regret resulting from applying a policy that strives to learn the underlying demand while simultaneously meting out ordering decisions based on its learning. We propose a policy that controls the pace at which a traditional (s,S)- computing algorithm is applied to the empirical distribution of the demand learned over time. The regret incurred from the policy has a bound of O(T 1/2 ยท (ln T )1/2).
NotePh.D.
NoteIncludes bibliographical references
Genretheses
Persistent URLhttps://doi.org/doi:10.7282/t3-sd0t-7m17
LanguageEnglish
CollectionGraduate School - Newark Electronic Theses and Dissertations
Organization NameRutgers, The State University of New Jersey
RightsThe author owns the copyright to this work.
Version 8.5.5
Rutgers University Libraries - Copyright ©2024