Dynamic Inventory Management with Cash Flow Constraints

doi:10.1002/nav.20322

CSpace

	Dynamic Inventory Management with Cash Flow Constraints
	Chao, Xiuli 1; Chen, Jia 2; Wang, Shouyang 2
	2008-12-01
发表期刊	NAVAL RESEARCH LOGISTICS
ISSN	0894-069X
卷号	55 期号:8 页码:758-768
摘要	In this article, we consider a classic dynamic inventory control problem of a self-financing retailer who periodically replenishes its stock from a supplier and sells it to the market. The replenishment decisions of the retailer are constrained by cash flow, which is updated periodically following purchasing and sales in each period. Excess demand in each period is lost when insufficient inventory is in stock. The retailer's objective is to maximize its expected terminal wealth at the end of the planning horizon. We characterize the optimal inventory control policy and present a simple algorithm for computing the optimal policies for each period. Conditions are identified under which the optimal control policies are identical across periods. We also present comparative statics results on the optimal control policy. (C) 2008 Wiley Periodicals, Inc. Naval Research Logistics 55: 758-768, 2008
关键词	dynamic inventory management financial constraint base-stock policy
DOI	10.1002/nav.20322
语种	英语
资助项目	NSF[CMMI-0800004]
WOS研究方向	Operations Research & Management Science
WOS类目	Operations Research & Management Science
WOS记录号	WOS:000261359300004
出版者	JOHN WILEY & SONS INC
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/6728
专题	中国科学院数学与系统科学研究院
通讯作者	Chao, Xiuli
作者单位	1.Univ Michigan, Dept Ind & Operat Engn, Ann Arbor, MI 48109 USA 2.Chinese Acad Sci, Inst Syst Sci, Beijing 100080, Peoples R China
推荐引用方式 GB/T 7714	Chao, Xiuli,Chen, Jia,Wang, Shouyang. Dynamic Inventory Management with Cash Flow Constraints[J]. NAVAL RESEARCH LOGISTICS,2008,55(8):758-768.
APA	Chao, Xiuli,Chen, Jia,&Wang, Shouyang.(2008).Dynamic Inventory Management with Cash Flow Constraints.NAVAL RESEARCH LOGISTICS,55(8),758-768.
MLA	Chao, Xiuli,et al."Dynamic Inventory Management with Cash Flow Constraints".NAVAL RESEARCH LOGISTICS 55.8(2008):758-768.