KMS Of Academy of mathematics and systems sciences, CAS
Dynamic Inventory Management with Cash Flow Constraints | |
Chao, Xiuli1; Chen, Jia2; Wang, Shouyang2 | |
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. |
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