Article ID: | iaor2000658 |
Country: | United States |
Volume: | 46 |
Issue: | 6 |
Start Page Number: | 899 |
End Page Number: | 911 |
Publication Date: | Nov 1998 |
Journal: | Operations Research |
Authors: | Tayur Sridhar, Kapuciski Roman |
Keywords: | production |
For a single product, single-stage capacitated production-inventory model with stochastic, periodic (cyclic) demand, we find the optimal policy and characterize some of its properties. We study the finite-horizon, the discounted infinite-horizon and the infinite-horizon average cases. A simulation based optimization method is provided to compute the optimal parameters. Based on a numerical study, several insights into the model are also provided.