Echelon-stock () control in two-stage serial stochastic inventory systems

✍ Scribed by Keli Feng; Uday S. Rao

• Publisher: Elsevier Science
• Year: 2007
• Tongue: English
• Weight: 325 KB
• Volume: 35
• Category: Article
• ISSN: 0167-6377
• DOI: 10.1016/j.orl.2005.11.007

✦ Synopsis

For the two-stage (R, nT) policy, we present an algorithm to estimate expected costs, given (R, nT), and to compute nearoptimal (R, nT) values. We illustrate that the (R, nT) policy is cost-effective compared to an (r, nQ) policy and to lower bounds on minimum achievable costs. We explore the impact of parameters on costs.