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Statistical control using a quantitative index

โœ Scribed by N. G. Gonin; T. N. Lozhkina


Book ID
105067746
Publisher
Springer US
Year
1987
Tongue
English
Weight
290 KB
Volume
39
Category
Article
ISSN
1573-8795

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โœ Liwan H. Liyanage; J.George Shanthikumar ๐Ÿ“‚ Article ๐Ÿ“… 2005 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 186 KB

Consider the newsvendor inventory control problem with an ambiguous demand. The traditional approach of separating the parameter estimation and the maximization of the expected profit leads to a suboptimal inventory policy. Operational statistics, introduced in this paper, provides a better solution