Echelon base-stock policies are financially sub-optimal

Echelon base-stock policies are financially sub-optimal

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Article ID: iaor20082893
Country: Netherlands
Volume: 35
Issue: 5
Start Page Number: 561
End Page Number: 566
Publication Date: Sep 2007
Journal: Operations Research Letters
Authors: ,
Abstract:

We study a Clark and Scarf multi-echelon inventory model with the objective of optimizing the expected present value of dividends. A counterexample shows that generally there is no optimal echelon base-stock policy if there are financial constraints and two or more echelons.

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