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2006•Journal of Statistics and Management SystemsRequires access

The optimum ordering policy for a dynamic inventory model with discrete demand

Michinori Sakaguchi, Masanori Kodama

Open publisher page 3 citations

Abstract

We study an economic order quantity of the standard example in an inventory problem of multi-period under the assumption that the demand is a discrete random variable. There are also some results how to find an optimal policy in examples with discrete demand. It is an application of analyses of the probabilistic inventory model that the authors construct using the theory of the dynamic programming.

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What this paper is about

We study an economic order quantity of the standard example in an inventory problem of multi-period under the assumption that the demand is a discrete random variable. There are also some results how to find an optimal policy in examples with discrete demand. It is an application of analyses of the probabilistic inventory model that the authors construct using the theory of the dynamic programming.

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OpenAlex reports 3 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

We study an economic order quantity of the standard example in an inventory problem of multi-period under the assumption that the demand is a discrete random variable. There are also some results how to find an optimal policy in examples with discrete demand. It is an application of analyses of the probabilistic inventory model that the authors construct using the theory of the dynamic programming.

Key concepts: Dynamic programming, Probabilistic logic, Order (exchange), Inventory theory, Discrete time and continuous time, Variable (mathematics), Discrete choice, Mathematical optimization

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