Stochastic Optimization of Inventory Control

Xiao Xun Ouyang

doi:10.4028/www.scientific.net/AMM.58-60.2063

Paper Titles

The Study on Digital Imaging Technology of Real-Time Mineral Mixture Gradation Detection on Construction Sites
p.2040

Design of Sensorless Vector Control System for Induction Motors
p.2046

Study on the Multi-Axis Motion Control Based on LabVIEW
p.2051

Positional Uncertainty Estimation and Visualization of a Triangular Tessellation
p.2057

Stochastic Optimization of Inventory Control
p.2063

Color Image Stereo Vision Obstacle Detection Based on Phase Congruency
p.2068

Noise Analysis and Eliminate Countermeasures for Car Audio System
p.2074

Residual Wavelet-Domain DVC Using an Optimized TCQ
p.2079

OntoRT: An Ontology Model for Role-Based Trust-Management Framework
p.2085

HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 58-60Stochastic Optimization of Inventory Control

Stochastic Optimization of Inventory Control

Abstract:

In this paper, we focus on the interaction between inventory investment and market demand, and consequent effect on discount profit when stochastic disturbance is introduced into the system. To this end, we set up optimal decision-making models on inventory cross-time management , in which inventory is considered as firms investment and Market demand follows SDE , as well as inventory investment. Helpful results and three propositions are obtained.

You might also be interested in these eBooks

View Preview

Info:

Periodical:

Applied Mechanics and Materials (Volumes 58-60)

Pages:

2063-2067

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.58-60.2063

Citation:

Cite this paper

Online since:

June 2011

Authors:

Xiao Xun Ouyang

Keywords:

Inventory Control, Ito SDE, Stochastic Disturbance, Stochastic Optimization

Export:

RIS, BibTeX

Price:

Permissions CCC:

Request Permissions

Permissions PLS:

Request Permissions

Сopyright:

Citation:

References

[1] Sherbrooke, C. C. Optimal Inventory Modeling of Systems(2nd edition). Boston: Kluwer Academic Publishers(2004).

Google Scholar

[2] Sobel, M. J. Fill rates of single-stage and multistage supply systems. Manufacturing & Service Operations Management, Vol. 6 (2004), pp.41-52.

DOI: 10.1287/msom.1030.0027

Google Scholar

[3] Browne, S. and P. H. Zipkin. Inventory models with continuous stochastic demands. The Annals of Applied Probability, (1991), 1, pp.419-435.

DOI: 10.1214/aoap/1177005875

Google Scholar

[4] Axsater, S. A new decision rule for lateral transshipments in inventory systems. Management Science, Vol. 49(2003), pp.1168-1179.

DOI: 10.1287/mnsc.49.9.1168.16568

Google Scholar

[5] Marklund, J. Centralized inventory control in a two-level distribution system with Poisson demand. Naval Research Logistics, Vol. 49(2002), pp.798-822.

DOI: 10.1002/nav.10040

Google Scholar

[6] Turnovsky S.J. Method of Macroeconomic Dynamics. Cambridge Massachusetts: The MIT Press(2000).

Google Scholar

[7] Marcelo Bianconi. Private information, growth, and asset prices with stochastic disturbances. International Review of Economic & Finance, Vol. 12(2003), pp.1-2.

DOI: 10.1016/s1059-0560(02)00141-7

Google Scholar

[8] Kataoka H, Ken-ichi Semba. The neoclassical investment model and a new conversion law. Journal of Economics, Vol. 75(2002), pp.137-160.

DOI: 10.1007/s007120200010

Google Scholar

[9] Fleming W H., S J Sheu. Risk-Sensitive control and an optimal investment model. Mathematical Finance, Vol. 10(2000), pp.197-213.

DOI: 10.1111/1467-9965.00089

Google Scholar

[10] Calcagnini G, Saltari E. Real and financial uncertainty and investment decisions. Journal of Macroeconomics, Vol. 22(2000), pp.491-514.

DOI: 10.1016/s0164-0704(00)00142-7

Google Scholar