Article ID: | iaor20041464 |
Country: | Serbia |
Volume: | 13 |
Issue: | 2 |
Start Page Number: | 217 |
End Page Number: | 227 |
Publication Date: | Jul 2003 |
Journal: | Yugoslav Journal of Operations Research |
Authors: | Bouza Carlos N. |
Keywords: | optimization: simulated annealing |
The behavior of estimations of the optimal inventory level is analyzed. Two models are studied. The demands follow unknown probability distribution function. The included density functions are estimated and a plug-in rule is suggested for computing estimates of the optimal levels. Two search algorithms are proposed and compared using Monte Carlo experiments.