Provably near-optimal sampling-based policies for stochastic inventory control models

R Levi, RO Roundy, DB Shmoys - Mathematics of Operations …, 2007 - pubsonline.informs.org
In this paper, we consider two fundamental inventory models, the single-period newsvendor
problem and its multiperiod extension, but under the assumption that the explicit demand …

Sampling-based approximation schemes for capacitated stochastic inventory control models

WC Cheung, D Simchi-Levi - Mathematics of Operations …, 2019 - pubsonline.informs.org
We study the classical multiperiod capacitated stochastic inventory control problems in a
data-driven setting. Instead of assuming full knowledge of the demand distributions, we …

Approximation algorithms for stochastic inventory control models

R Levi, M Pál, RO Roundy… - … of Operations Research, 2007 - pubsonline.informs.org
We consider two classical stochastic inventory control models, the periodic-review stochastic
inventory control problem and the stochastic lot-sizing problem. The goal is to coordinate a …

Approximation algorithms for capacitated stochastic inventory control models

R Levi, RO Roundy, DB Shmoys… - Operations …, 2008 - pubsonline.informs.org
We develop the first algorithmic approach to compute provably good ordering policies for a
multiperiod, capacitated, stochastic inventory system facing stochastic nonstationary and …

Confidence intervals for data-driven inventory policies with demand censoring

GY Ban - Operations Research, 2020 - pubsonline.informs.org
We revisit the classical dynamic inventory management problem of Scarf [Scarf H (1959b)
The optimality of (s, S) policies in the dynamic inventory problem. Arrow KJ, Karlin S, Suppes …

Adaptive data-driven inventory control with censored demand based on Kaplan-Meier estimator

WT Huh, R Levi, P Rusmevichientong… - Operations …, 2011 - pubsonline.informs.org
Using the well-known product-limit form of the Kaplan-Meier estimator from statistics, we
propose a new class of nonparametric adaptive data-driven policies for stochastic inventory …

Using stochastic approximation methods to compute optimal base-stock levels in inventory control problems

S Kunnumkal, H Topaloglu - Operations Research, 2008 - pubsonline.informs.org
In this paper, we consider numerous inventory control problems for which the base-stock
policies are known to be optimal, and we propose stochastic approximation methods to …

An adaptive, distribution-free algorithm for the newsvendor problem with censored demands, with applications to inventory and distribution

GA Godfrey, WB Powell - Management Science, 2001 - pubsonline.informs.org
We consider the problem of optimizing inventories for problems where the demand
distribution is unknown, and where it does not necessarily follow a standard form such as …

A survey of stochastic inventory models with fixed costs: Optimality of (s, S) and (s, S)‐type policies—Discrete‐time case

SC Perera, SP Sethi - Production and Operations …, 2023 - journals.sagepub.com
Fixed costs of ordering items or setting up a production process arise in many real‐life
scenarios. In their presence, the most widely used ordering policy in the stochastic inventory …

A fully polynomial-time approximation scheme for single-item stochastic inventory control with discrete demand

N Halman, D Klabjan, M Mostagir… - Mathematics of …, 2009 - pubsonline.informs.org
The single-item stochastic inventory control problem is to find an inventory replenishment
policy in the presence of independent discrete stochastic demands under periodic review …