Optimal ordering policies for a product that perishes in two periods subject to stochastic demand

1973 ◽  
Vol 20 (2) ◽  
pp. 207-229 ◽  
Author(s):  
Steven Nahmias ◽  
William P. Pierskalla
Keyword(s):  
Stochastic Demand ◽  
Ordering Policies ◽  
Optimal Ordering

scholarly journals Optimal ordering policies and sourcing strategies with supply disruption

2014 ◽  
Vol 10 (4) ◽  
pp. 1147-1168 ◽  
Author(s):  
Xiaoming Yan ◽  
◽  
Minghui Zhang ◽  
Ke Liu ◽  
Yong Wang ◽  
...  
Keyword(s):  
Supply Disruption ◽  
Sourcing Strategies ◽  
Ordering Policies ◽  
Optimal Ordering

Retail Ordering Policy Risk

2017 ◽  
pp. 197-225
Keyword(s):  
Simulation Models ◽  
Stochastic Optimisation ◽  
Control Stage ◽  
Ordering Policy ◽  
Stochastic Techniques ◽  
Ordering Policies ◽  
Optimal Ordering Policy ◽  
Policy Risk ◽  
Associated Risk Factors ◽  
Optimal Ordering

The method is applied to Retail Ordering Policy to manage the associated risk. DMAIC framework applies stochastic techniques. Stochastic optimisation determines the optimal retail ordering policies to maximise profit. Simulate every determined optimal ordering policy and calculate profits, risks, and Six Sigma metrics to measure against specified target limits. Analyse simulation results and identify and quantify the main contributors to the profits variability by using sensitivity analysis. The optimal retail ordering policies are ranked based on their profits and associated risk factors. The technically best optimal retail ordering policy is recommended to the management for implementation. Control stage is elaborated by reusing the data and presented stochastic optimisation and simulation models for ongoing management of the optimal strategy. Some changes are applied to the data and models however, in order to emulate the scenario of an implemented strategy.

Optimal Ordering Policies for Stochastic Inventory Problems with Observed Information Delays

2009 ◽  
Vol 18 (5) ◽  
pp. 546-559 ◽  
Author(s):  
Alain Bensoussan ◽  
Metin Çakanyιldιrιm ◽  
Qi Feng ◽  
Suresh P. Sethi
Keyword(s):  
Stochastic Inventory ◽  
Information Delays ◽  
Observed Information ◽  
Ordering Policies ◽  
Optimal Ordering
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