In this work, we consider a retailer selling a single product with limited on-hand inventory over a finite selling season. Customer demand arrives according to a Poisson process,...
Abstract. An interesting class of production/inventory control problems considers a single product and a single stocking location, given a stochastic demand with a known non-statio...
Rationing is an inventory policy that allows prioritization of demand classes. It enables the inventory system to provide higher service levels for critical demand classes. In thi...
In this paper we use policy-iteration to explore the behaviour of optimal control policies for lost sales inventory models with the constraint that not more than one replenishment...