Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/79449
Title: The optimal order policy for a capacitated multiple product inventory system under symmetry
Authors: Feng, Yi
Chen, Shaoxiang
Dai, Wenqiang
Keywords: Stochastic Programming
Multiple-product
DRNTU::Business::Marketing::Research
Issue Date: 2015
Source: Feng, Y., Chen, S., & Dai, W. (2015). The optimal order policy for a capacitated multiple product inventory system under symmetry. Asia-Pacific Journal of Operational Research, 32(02), 1550005-. doi:10.1142/S0217595915500050
Series/Report no.: Asia-Pacific journal of operational research
Abstract: Although many researches have conjectured the optimality of the hedging point policy for the multiple-product stochastic capacitated periodic review problem, it is still a challenge to prove the hypothesis. This paper considers a special case of the capacitated multiple-product periodic review problem where stochastic demand distribution, production rate, unit production cost and periodic expected inventory cost are the same for all different products. For this symmetric problem, we prove an optimal policy where ordering and non-ordering regions for every product are defined. Our research provides significant implications to the characterization of the optimal policy for the general problem.
URI: https://hdl.handle.net/10356/79449
http://hdl.handle.net/10220/38480
DOI: 10.1142/S0217595915500050
Rights: © 2015 World Scientific Publishing Co. & Operational Research Society of Singapore. This is the author created version of a work that has been peer reviewed and accepted for publication by Asia-Pacific Journal of Operational Research, World Scientific Publishing Co. & Operational Research Society of Singapore. It incorporates referee’s comments but changes resulting from the publishing process, such as copyediting, structural formatting, may not be reflected in this document. The published version is available at: [http://dx.doi.org/10.1142/S0217595915500050].
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:NBS Journal Articles

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