Note: A simple heuristic for serial inventory systems with fixed order costs

Journal Article (Journal Article)

We propose a heuristic for finding base order quantities for stochastic inventory models. The heuristic includes two steps. The first clusters the stages according to cost parameters. The second solves a single-stage problem for each cluster with the original problem data. In a numerical study, we show that the heuristic is near optimal. © 2008 INFORMS.

Full Text

Duke Authors

Cited Authors

  • Shang, KH

Published Date

  • July 1, 2008

Published In

Volume / Issue

  • 56 / 4

Start / End Page

  • 1039 - 1043

Electronic International Standard Serial Number (EISSN)

  • 1526-5463

International Standard Serial Number (ISSN)

  • 0030-364X

Digital Object Identifier (DOI)

  • 10.1287/opre.1080.0547

Citation Source

  • Scopus