An Empirical Study of Exactly and Approximately Optimal Inventory Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook An Empirical Study of Exactly and Approximately Optimal Inventory Policies write by Harvey M. Wagner. This book was released on 1964. An Empirical Study of Exactly and Approximately Optimal Inventory Policies available in PDF, EPUB and Kindle.
An Empirical Comparison of Two Approximately Optimal (s, S) Inventory Policies
An Empirical Comparison of Two Approximately Optimal (s, S) Inventory Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook An Empirical Comparison of Two Approximately Optimal (s, S) Inventory Policies write by Richard Ehrhardt. This book was released on 1980. An Empirical Comparison of Two Approximately Optimal (s, S) Inventory Policies available in PDF, EPUB and Kindle. In this paper, we present an empirical comparison of two approximately optimal rules for computing (s, S) policies for single items under periodic review with a setup cost, linear holding and storage costs, fixed replenishment lead time, and backlogging of unfilled demand. The Naddor Approximation, originally designed for holding and shortage costs based on period-average inventory levels, is transformed for use in a system where these costs are based on period-end inventory. It is compared empirically with the Power Approximation and with exactly optimal policies in a system of independent inventory items having 576 distinct parameter settings. The Power Approximation yields lower expected total costs than the Naddor Approximation in 456 of the 576 cases. The cost differences tend to be rather small, however. When total costs are aggregated over the entire system, the Power Approximation is 1.65% above optimal, as compared with 2.34% for the Naddor Approximation. Significant differences appear only when components of total cost are examined. The robustness of the policies is examined by analyzing their performance when statistical estimates are used in place of the actual mean and variance of demand. We also discuss the sensitivity to parameter settings of the performance of the two rules. (Author).
Periodic Review Inventory Systems
Periodic Review Inventory Systems - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Periodic Review Inventory Systems write by Thomas Wensing. This book was released on 2011-06-26. Periodic Review Inventory Systems available in PDF, EPUB and Kindle. The focus of the work is twofold. First, it provides an introduction into fundamental structural and behavioral aspects of periodic review inventory systems. Second, it includes a comprehensive study on analytical and optimization aspects of a specific class of those systems. For the latter purpose, general solution methods for problems of inventory management in discrete time are described and developed along with highly specialized methods to solve very specific problems related to the model variants examined. The work is thus addressed to students and practitioners who seek a deeper understanding of managing inventories in discrete time as well as to software developers who require implementation aids on specific problems of inventory management.
Principles of Inventory Management
Principles of Inventory Management - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Principles of Inventory Management write by John A. Muckstadt. This book was released on 2010-03-20. Principles of Inventory Management available in PDF, EPUB and Kindle. Inventories are prevalent everywhere in the commercial world, whether it be in retail stores, manufacturing facilities, government stockpile material, Federal Reserve banks, or even your own household. This textbook examines basic mathematical techniques used to sufficiently manage inventories by using various computational methods and mathematical models. The text is presented in a way such that each section can be read independently, and so the order in which the reader approaches the book can be inconsequential. It contains both deterministic and stochastic models along with algorithms that can be employed to find solutions to a variety of inventory control problems. With exercises at the end of each chapter and a clear, systematic exposition, this textbook will appeal to advanced undergraduate and first-year graduate students in operations research, industrial engineering, and quantitative MBA programs. It also serves as a reference for professionals in both industry and government worlds. The prerequisite courses include introductory optimization methods, probability theory (non-measure theoretic), and stochastic processes.
Government-wide Index to Federal Research & Development Reports
Government-wide Index to Federal Research & Development Reports - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Government-wide Index to Federal Research & Development Reports write by . This book was released on 1965. Government-wide Index to Federal Research & Development Reports available in PDF, EPUB and Kindle.
