The infinite horizon non-stationary stochastic multi-echelon inventory problem and near-myopic policies

Article Abstract:

An investigation into a dynamic multi-echelon inventory problems with nonstationary demands is presented, with regard to near-myopic policies.

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Approximations for the departure process of the G/G/1 queue with Markov-modulated arrivals

Article Abstract:

The G/G/1 queue with Markov-modulated arrivals is considered for use in studying queues with non-renewal arrival processes.

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The infinite horizon non-stationary stochastic inventory problem: near myopic policies and weak ergodicity

Article Abstract:

The non-stationary Markov decision process has been applied to inventory problems with non-stationary demands. Ergodic coefficients representing discount rates may be reduced by analyzing the relationship between an optimal strategy and the capacity of the inventory space. The model indicates that inventory processes with weakly ergodic base-stock policies are related to near myopic policies. The latter, on the other hand, approximate optimal decisions for horizontal inventory problems with and without leadtime data.

Inventory Control, Analysis, Discount rates, Lead time, Ergodic theory

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