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Optimal Policies for Inventory Systems with Piecewise-Linear Concave Ordering Costs

Bensoussan, Alain - 2020

We study infinite-horizon stochastic inventory problems with general demand distributions and piecewise linear concave … consist of generalizing the demand, solving a functional Bellman equation for the value function that arises in the infinite …-horizon framework, and providing an explicit solution in a special case of the exponential demand. We also give conditions under which …

Persistent link: https://www.econbiz.de/10012834054

Computation of Approximate Optimal Policies in a Partially Observed Inventory Model With Rain Checks

Bensoussan, Alain - 2020

This paper proposes a new methodology to solve partially observed inventory problems. Generally, these problems have infinite dimensional states that are conditional distribution of the inventory level. Our methodology involves linearizing the state transitions via unnormalized probabilities. It...

Persistent link: https://www.econbiz.de/10012846527

Computation of Approximate Optimal Policies in a Partially Observed Inventory Model with Rain Checks

Bensoussan, Alain; Çakanyıldırım, M.; Sethi, Suresh; … - 2020

This paper proposes a new methodology to solve partially observed inventory problems. Generally, these problems have infinitedimensional states that are conditional distribution of the inventory level. Our methodology involves linearizing the state transitions via unnormalized probabilities. It...

Persistent link: https://www.econbiz.de/10014204176

The block planning approach for continuous time-based dynamic lot sizing and scheduling

Günther, Hans-Otto - In: Business research 7 (2014) 1, pp. 51-76

This paper calls for a change in paradigm in lot sizing and scheduling. Traditionally, a discrete time scale is chosen to model lot sizing and scheduling. As an alternative, the so-called block planning concept is proposed which is based on a continuous representation of time. A mixed-integer...

Persistent link: https://www.econbiz.de/10010414317

A Mixed Optimization Technique for the Generalized Machine Replacement Problem

Sethi, Suresh - 2014

subproblem, which one may choose to solve via control theory, dynamic programming, or practical engineering considerations. A … control theory formulation is used in the paper as an illustration. These subproblem solutions are then incorporated into a …

Persistent link: https://www.econbiz.de/10013071069

Minimizing Makespan in Flowshops with Pallet Requirements : Computational Complexity

Wang, M. W. - 2010

We establish the computational complexity of the problem of minimizing makespan in a flowshop, where each jobs requires a pallet the entire time, from the start of its first operation until the completion of the last operation. We prove that the problem is NP-hard in the strong sense for m =2...

Persistent link: https://www.econbiz.de/10013152472

A Quantity Discount Lot Size Model with Disposals

Sethi, Suresh - 2020

Two types of quantity discounts are treated in the literature, namely, 'all units' discounts and incremental quantity discounts. In the all units quantity discounts model. the discount applies to every unit purchased. As a result, the total purchase cost is a discontinuous function of the...

Persistent link: https://www.econbiz.de/10012834409

Turnpike Sets in Stochastic Production Planning Problems

Sethi, Suresh - 2020

production planning problems with capacity and demand to be finite state Markov chains. Turnpike set concepts are introduced to … provided that the capacity is assumed to be fixed at a level exceeding the maximum possible demand. Conditions under which the …, it is shown that t,he turnpike sets exhibit a monotone property with respect to capacity and demand. It turns out that …

Persistent link: https://www.econbiz.de/10012834925

Optimal Production Planning in a Multi-Product Stochastic Manufacturing System with Long-Run Average Cost

Sethi, Suresh - 2020

This paper is concerned with the problem of production planning in a flexible manufacturing system consisting of a single or parallel failure-prone machines producing a number of different products. The objective is to choose the rates of production of the various products over time in order to...

Persistent link: https://www.econbiz.de/10012835668

Optimal Batch Ordering Over a Finite Planning Horizon

Alsuwainea, Abdullah O. - 2020

This paper is concerned with finding an optimal inventory policy for a finite horizon, two-stage inventory model. In this model, products may be manufactured in two stages. The first stage uses raw material from an external supplier and the second stage uses raw material from defective items...

Persistent link: https://www.econbiz.de/10012838117

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