Optimal policies for inventory systems with discretionary sales, random yield and lost sales

doi:10.1007/s10255-009-8824-8

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	Optimal policies for inventory systems with discretionary sales, random yield and lost sales
	Yan, Xiao-ming 1,2; Liu, Ke2
	2010
发表期刊	ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES
ISSN	0168-9673
卷号	26 期号:1 页码:41-54
摘要	We determine replenishment and sales decisions jointly for an inventory system with random demand, lost sales and random yield. Demands in consecutive periods are independent random variables and their distributions are known. We incorporate discretionary sales, when inventory may be set aside to satisfy future demand even if some present demand may be lost. Our objective is to minimize the total discounted cost over the problem horizon by choosing an optimal replenishment and discretionary sales policy. We obtain the structure of the optimal replenishment and discretionary sales policy and show that the optimal policy for finite horizon problem converges to that of the infinite horizon problem. Moreover, we compare the optimal policy under random yield with that under certain yield, and show that the optimal order quantity (sales quantity) under random yield is more (less) than that under certain yield.
关键词	Inventory Discretionary sales Lost sales Random yield
DOI	10.1007/s10255-009-8824-8
语种	英语
资助项目	National Natural Science Foundation of China[606740852] ; National Natural Science Foundation of China[70731003] ; National Natural Science Foundation of China[70221001]
WOS研究方向	Mathematics
WOS类目	Mathematics, Applied
WOS记录号	WOS:000272628300005
出版者	SPRINGER HEIDELBERG
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/10606
专题	应用数学研究所
通讯作者	Yan, Xiao-ming
作者单位	1.Dongguan Univ Technol, Sch Software, Dongguan 523808, Guangdong, Peoples R China 2.Chinese Acad Sci, Acad Math & Syst Sci, Inst Appl Math, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Yan, Xiao-ming,Liu, Ke. Optimal policies for inventory systems with discretionary sales, random yield and lost sales[J]. ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES,2010,26(1):41-54.
APA	Yan, Xiao-ming,&Liu, Ke.(2010).Optimal policies for inventory systems with discretionary sales, random yield and lost sales.ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES,26(1),41-54.
MLA	Yan, Xiao-ming,et al."Optimal policies for inventory systems with discretionary sales, random yield and lost sales".ACTA MATHEMATICAE APPLICATAE SINICA-ENGLISH SERIES 26.1(2010):41-54.