Study on inventory systems on supermodular order

Author

Jiang, Jia ; Zhou, Lei ; Wang, Rui-jiang

Author_Institution

Sch. of Econ. & Manage., Hebei Univ. of Sci. & Technol., Shijiazhuang

Volume

2

fYear

2008

fDate

12-15 July 2008

Firstpage

713

Lastpage

717

Abstract

This paper researches the optimization of inventory system with discrete time, single product and single period under uncertainty environment. The aim is to analyze the impact of the alterability of the initial storage, production batch, output and need on system optimal policy and optimum cost. According to random order, we put forwards the random comparison result of optimal inventory and optimum cost under single period environment. Finally, a case study is given to show the feasibility and operability of the method, which can provide basis for supply chain managers making effective decisions.

Keywords

batch production systems; cost optimal control; discrete time systems; inventory management; supply chain management; uncertain systems; discrete time; inventory systems; optimal inventory; optimization; optimum cost; production batch; single period environment; supermodular order; supply chain management; system optimal policy; uncertainty environment; Batch production systems; Conference management; Cost function; Environmental economics; Environmental management; Forward contracts; Inventory management; Supply chains; Technology management; Uncertainty; Inventory check; Optimal strategy; Random order; Super modular; Uncertainty;

fLanguage

English

Publisher

ieee

Conference_Titel

Machine Learning and Cybernetics, 2008 International Conference on

Conference_Location

Kunming

Print_ISBN

978-1-4244-2095-7

Electronic_ISBN

978-1-4244-2096-4

Type

conf

DOI

10.1109/ICMLC.2008.4620497

Filename

4620497