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Firms adjust to differences in market size and demand uncertainty by changing the frequency and size of their export shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as well as inventory and per shipments costs. Using a...
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Background: International transportation has grown substantially, causing total logistics costs (TLCs) to rise … importance of a country-based logistics strategy. The paper successfully establishes the trends and relations between logistics … parameters, which assists the logistics decision making. Research identifies the gaps in the existing literature and bridges them …
Persistent link: https://www.econbiz.de/10014414035
: Distribution managers may find here guidance for defining a proper design of logistics centers and evaluating the operators' actual …
Persistent link: https://www.econbiz.de/10014512888
cycle time, reduces the major ordering costs. An efficient algorithm to determine the optimal policy of this type is … discussed in this paper. It is shown that this algorithm can be used for deterministic multi-item inventory problems, with … linear cost rate functions. Numerical results for this case show that the algorithm significantly outperforms other solution …
Persistent link: https://www.econbiz.de/10010336361
learning algorithm. The algorithm separates the planning horizon into a disjoint exploration phase and an exploitation phase … grid to obtain a pair of recommended price and target inventory level. During the exploitation phase, the algorithm …
Persistent link: https://www.econbiz.de/10012855169
We propose the first learning algorithm for single-product, periodic-review, backlogging inventory systems with random … cyclic stochastic gradient descent type of algorithm whose running average cost asymptotically converges to the clairvoyant … optimal cost. We prove that the rate of convergence guarantee of our algorithm is $O(1/\sqrt{T})$, which is provably tight for …
Persistent link: https://www.econbiz.de/10014109891
We develop the first nonparametric learning algorithm for periodic-review perishable inventory systems. In contrast to …, lost-sales and outdating cost is convex in the base-stock level. Then, we develop a nonparametric learning algorithm that … establish a square-root convergence rate of the proposed algorithm, which is the best possible. Our algorithm and analyses …
Persistent link: https://www.econbiz.de/10014117718
propose a non-parametric algorithm that generates a sequence of adaptive ordering decisions based on the stochastic gradient … descent method. We compare the T-period cost of our algorithm to the clairvoyant, who knows the underlying demand distribution …
Persistent link: https://www.econbiz.de/10014261789