| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 1142747 | Operations Research Letters | 2011 | 6 Pages |
Abstract
We study inventory management problems where demands are revealed incrementally and procurement decisions must be made before the demands are realized. There are no probabilistic distributions nor non-trivial bounds to characterize demands. We consider two cost minimization problems: (1) perishable products with lost sales and (2) durable products with backlogged demand. In both problems, costs are period dependent. These problems are analyzed by utilizing linear-fractional programming and duality theory. Structural results are proved and then developed into practical strategies.
Related Topics
Physical Sciences and Engineering
Mathematics
Discrete Mathematics and Combinatorics
Authors
Michael R. Wagner,