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Optimal Policies For Two Product Inventory Systems With And Without Setup Costs
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Book Synopsis Optimal Policies for Two Product Inventory Systems, with and Without Setup Costs by : Edward Joel Ignall
Download or read book Optimal Policies for Two Product Inventory Systems, with and Without Setup Costs written by Edward Joel Ignall and published by . This book was released on 1966 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the case of no setup cost, the structure of the transient portion of the optimal N period policy for two product inventory systems is obtained, the recurrent portion having been obtained by Veinott. The function L, the expected holding and shortage cost this period, is assumed to satisfy conditions roughly equivalent to (a) having a unique minimum and (b) being quasiconvex in each dimension with the relative minimum decreasing as the other value increases. The policy is: do not order the overstocked product and order less of the other product than would be ordered if there were no overstocked product. The policy is stationary, depending neither on N nor on the number of periods remaining. For the setup cost case, the optimal N period policy is obtained under strong assumptions on L and the optimal one period policy under (a) and (b). Bounds analogous to those of Veinott and Wagner are obtained. The apparent inappropriateness of K-convexity is discussed. (Author).
Book Synopsis Optimal Continuous Review Policies for Two Product Inventory Systems with Joint Setup Costs by : Edward Ignall
Download or read book Optimal Continuous Review Policies for Two Product Inventory Systems with Joint Setup Costs written by Edward Ignall and published by . This book was released on 1966 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Minimum average cost ordering policies for continuously reviewed two product inventory systems with joint setup costs are sought. Disappointingly, the optimal policy, even in a simple symmetric case, is not always simple: For some values of cost and demand parameters, a policy that would be difficult to implement is optimal. Markov Renewal Programming is used to find the region in parameter space where a given policy is optimal.
Book Synopsis Scientific and Technical Aerospace Reports by :
Download or read book Scientific and Technical Aerospace Reports written by and published by . This book was released on 1967 with total page 1262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lists citations with abstracts for aerospace related reports obtained from world wide sources and announces documents that have recently been entered into the NASA Scientific and Technical Information Database.
Book Synopsis NASA SP-7500 by : United States. National Aeronautics and Space Administration
Download or read book NASA SP-7500 written by United States. National Aeronautics and Space Administration and published by . This book was released on 1968 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Naval Research Logistics Quarterly by :
Download or read book Naval Research Logistics Quarterly written by and published by . This book was released on 1974 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Policies for Sequential Inventory and Investment Models by : Robert Samuel Kaplan
Download or read book Optimal Policies for Sequential Inventory and Investment Models written by Robert Samuel Kaplan and published by . This book was released on 1968 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Technical Abstract Bulletin written by and published by . This book was released on with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inventory Management by : Mohamad Y. Jaber
Download or read book Inventory Management written by Mohamad Y. Jaber and published by CRC Press. This book was released on 2009-08-11 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: As markets become more dynamic and competitive, companies must reconsider how they view inventory and make changes to their production and inventory systems. They must begin to think outside the classical box and develop a new paradigm of inventory management. Exploring the trend away from classical models based on economic order quantities to depe
Book Synopsis A Study of Multiproduct, Determinitic Inventory Systems with Interactive Setup Costs by : Fred Morton Andres
Download or read book A Study of Multiproduct, Determinitic Inventory Systems with Interactive Setup Costs written by Fred Morton Andres and published by . This book was released on 1972 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Government-wide Index to Federal Research & Development Reports by :
Download or read book Government-wide Index to Federal Research & Development Reports written by and published by . This book was released on 1967-05 with total page 1470 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Decision & Control in Management Science by : Georges Zaccour
Download or read book Decision & Control in Management Science written by Georges Zaccour and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decision & Control in Management Science analyzes emerging decision problems in the management and engineering sciences. It is divided into five parts. The first part explores methodological issues involved in the optimization of deterministic and stochastic dynamical systems. The second part describes approaches to the model energy and environmental systems and draws policy implications related to the mitigation of pollutants. The third part applies quantitative techniques to problems in finance and economics, such as hedging of options, inflation targeting, and equilibrium asset pricing. The fourth part considers a series of problems in production systems. Optimization methods are put forward to provide optimal policies in areas such as inventory management, transfer-line, flow-shop and other industrial problems. The last part covers game theory. Chapters range from theoretical issues to applications in politics and interactions in franchising systems. Decision & Control in Management Science is an excellent reference covering methodological issues and applications in operations research, optimal control, and dynamic games.
Book Synopsis Optimality of Myopic Inventory Policies for Several Substitute Products by : Stanford University. Department of Operations Research
Download or read book Optimality of Myopic Inventory Policies for Several Substitute Products written by Stanford University. Department of Operations Research and published by . This book was released on 1967 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multiproduct inventory systems with proportional ordering costs and stochastic demands are studied. New conditions are obtained under which a myopic ordering policy (a policy of minimizing expected cost in the current period alone) is optimal for a sequence of periods for all initial inventory levels. An important one of these, the substitute property, holds when the myopic policy is such that increasing the initial inventory of one product does not increase the quantity ordered of any product. Conditions on the one period expected holding and shortage cost function, which are of independent interest in nonlinear programming, are shown to imply the substitute property. Applications of these conditions to models with storage or investment limitations and to a multiechelon model are given. Under backlogging the usual extension to a fixed delivery lag is obtained. Some non-stationary cases are also treated. (Author).
Book Synopsis Management, a Continuing Literature Survey with Indexes by :
Download or read book Management, a Continuing Literature Survey with Indexes written by and published by . This book was released on 1968 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Management written by and published by . This book was released on 1962 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Inventory Policy with Multiple Set-up Costs by : Steven A. Lippman
Download or read book Optimal Inventory Policy with Multiple Set-up Costs written by Steven A. Lippman and published by . This book was released on 1968 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report describes a deterministic, single product, discrete review, finite time horizon inventory problem, called the multiple set-up cost problem. The holding cost in each period is a nondecreasing (and sometimes concave) function. It is assumed that the order in period i is delivered in trucks with capacity M sub i and that the cost of delivery for each truck is a nondescreasing concave function of the amount delivered by that truck. The existence of an optimal production schedule is established such that for each period (1) there are no partially filled trucks in period i if the inventory entering period i is positive and (2) the inventory at the end of period i is less than M sub i. Exploiting this information, an efficient algorithm is developed. Next, the stationary, infinite horizon version of the multiple set-up cost problem is considered. Finally, a stochastic inventory problem wherein the ordering cost function is merely assumed to be nondecreasing and subadditive is discussed.
Book Synopsis Current Issues in Computer Simulation by : Nabil R. Adam
Download or read book Current Issues in Computer Simulation written by Nabil R. Adam and published by Academic Press. This book was released on 2014-05-09 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current Issues in Computer Simulation is a collection of papers dealing with computer simulation languages, statistical aspects of simulation, linkage with optimization and analytical models, as well as theory and application of simulation methodology. Some papers explain the General Purpose Simulation System (GPSS), a programming package incorporating a language to simulate discrete systems; and the SIMSCRIPT, a general-purpose simulation language using English commands, for example, FORTRAN. Another simulation language is the General Activity Simulation Program (GASP), providing for an organizational structure to build models to simulate the dynamic performance of systems on a digital computer. Other papers discuss simulation models of real systems, including corporate simulation models, multistage consumer choice process, determination of maximum occupancy for hospital facilities, and the juvenile court system. Many computer simulations are statistical sampling experiments performed on a model of the system under investigation. Other papers discuss some of the variables involved in the statistical design and analysis of simulation experiments such as variance reduction techniques, generation of random variates, and experimental layout. For example, one application simulates inventory systems when many items are stocked in various locations. The collection is suitable for programmers, computer engineers, businessmen, hospital administrators, schools officials, and depositories of huge volumes of information or data.
Book Synopsis An Empirical Comparison of Two Approximately Optimal (s, S) Inventory Policies by : Richard Ehrhardt
Download or read book An Empirical Comparison of Two Approximately Optimal (s, S) Inventory Policies written by Richard Ehrhardt and published by . This book was released on 1980 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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).
