A Fully Polynomial-Time Approximation Scheme for Single-Item Stochastic Inventory Control with Discrete Demand

• 成果类型: Article
• 署名作者: Halman, Nir; Klabjan, Diego; Mostagir, Mohamed; Orlin, Jim; Simchi-Levi, David
• 署名单位: Massachusetts Institute of Technology (MIT); Hebrew University of Jerusalem; Northwestern University; California Institute of Technology; Massachusetts Institute of Technology (MIT)
• 刊物名称: MATHEMATICS OF OPERATIONS RESEARCH
• ISSN/ISSBN: 0364-765X
• DOI: 10.1287/moor.1090.0391
• 发表日期: 2009
• 页码: 674-685
• 关键词: algorithm; policies

摘要

The single-item stochastic inventory control problem is to find an inventory replenishment policy in the presence of independent discrete stochastic demands under periodic review and finite time horizon. In this paper, we prove that this problem is intractable and design for it a fully polynomial-time approximation scheme.