• DocumentCode
    2299206
  • Title

    A New Optimal Policy for Service System with Nonstationary Stochastic Demand

  • Author

    Yang, Jie ; Ding, Hongwei ; Wang, Wei ; Dong, Jin

  • Author_Institution
    IBM China Res. Lab., Beijing
  • Volume
    2
  • fYear
    2008
  • fDate
    7-11 July 2008
  • Firstpage
    595
  • Lastpage
    596
  • Abstract
    The performance of service system is especially low when demand is stochastic and nonstationary. This paper considers an inventory control problem with multiple-period replenishment lead time and nonstationary stochastic demand, and provides an optimal policy for this kind of problem. The problem is formulated as a stochastic dynamic programming model, then a solution algorithm which can obtain the optimal solution is developed. Numerical comparisons verify the effectiveness of the proposed policy.
  • Keywords
    dynamic programming; stochastic programming; stock control; supply and demand; inventory control problem; multiple-period replenishment lead time; nonstationary stochastic demand; service system; stochastic dynamic programming model; Context-aware services; Costs; Dynamic programming; Inventory control; Procurement; Random variables; Stochastic processes; Stochastic systems; Strategic planning; Uncertainty; Policy; demand; nonstationary; stochastic;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Services Computing, 2008. SCC '08. IEEE International Conference on
  • Conference_Location
    Honolulu, HI
  • Print_ISBN
    978-0-7695-3283-7
  • Type

    conf

  • DOI
    10.1109/SCC.2008.90
  • Filename
    4578590
    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=49&DC=2299206