Echelon-stock (R,nT) control in two-stage serial stochastic inventory systems

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Article ID:	iaor20072730
Country:	Netherlands
Volume:	35
Issue:	1
Start Page Number:	95
End Page Number:	104
Publication Date:	Jan 2007
Journal:	Operations Research Letters
Authors:	Rao Uday S., Feng Keli
Keywords:	stochastic processes

Abstract:

For the two-stage (R,nT) policy, we present an algorithm to estimate expected costs, given (R,nT), and to compute near-optimal (R,nT) values. We illustrate that the (R,nT) policy is cost-effective compared to an (R,nQ) policy and to lower bounds on minimum achievable costs. We explore the impact of parameters on costs.

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