콘텐츠 본문
논문 해외 국제전문학술지(SCI급) Optimal inventory control in a multi-period newsvendor problem with non-stationary demand
- 학술지 구분 국제전문학술지(SCI급)
- 게재년월 2015-01
- 저자명 김기태
- 학술지명 ADVANCED ENGINEERING INFORMATICS
- 발행처명 ELSEVIER SCI LTD
- 발행국가 해외
- 논문언어 외국어
- 전체저자수 3
논문 초록 (Abstract)
The optimal control of inventory in supply chains plays a key role in the competiveness of a corporation. The inventory cost can account for half of company's logistics cost. The classical inventory models, e.g., newsvendor and EOQ models, assume either a single or infinite planning periods. However, these models may not be applied to perishable products which usually have a certain shelf life. To optimize the total logistic cost for perishable products, this paper presents a multi-period newsvendor model, and the problem is formulated as a multi-stage stochastic programming model with integer recourse decisions. We extend the progressive hedging method to solve the model efficiently. A numerical example and its sensitivity analysis are demonstrated. (C) 2014 Elsevier Ltd. All rights reserved.
