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Approximate solutions of a dynamic forecast-inventory model

Publication ,  Journal Article
Iida, T; Zipkin, PH
Published in: Manufacturing and Service Operations Management
October 9, 2006

In this paper we consider a dynamic forecast-inventory model with forecast updates, based on the martingale model of forecast evolution. Two types of updates are considered, additive and multiplicative. The formulation of the model results in a dynamic program with multidimensional state space. We derive some characteristics of optimal policies and also develop a computational approach to obtain approximate solutions. The approach is based on simulation and function approximation. © 2006 INFORMS.

Duke Scholars

Published In

Manufacturing and Service Operations Management

DOI

EISSN

1526-5498

ISSN

1523-4614

Publication Date

October 9, 2006

Volume

8

Issue

4

Start / End Page

407 / 425

Related Subject Headings

  • Operations Research
  • 4901 Applied mathematics
  • 3509 Transportation, logistics and supply chains
  • 1505 Marketing
  • 1503 Business and Management
  • 0102 Applied Mathematics
 

Citation

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Chicago
ICMJE
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Iida, T., & Zipkin, P. H. (2006). Approximate solutions of a dynamic forecast-inventory model. Manufacturing and Service Operations Management, 8(4), 407–425. https://doi.org/10.1287/msom.1060.0116
Iida, T., and P. H. Zipkin. “Approximate solutions of a dynamic forecast-inventory model.” Manufacturing and Service Operations Management 8, no. 4 (October 9, 2006): 407–25. https://doi.org/10.1287/msom.1060.0116.
Iida T, Zipkin PH. Approximate solutions of a dynamic forecast-inventory model. Manufacturing and Service Operations Management. 2006 Oct 9;8(4):407–25.
Iida, T., and P. H. Zipkin. “Approximate solutions of a dynamic forecast-inventory model.” Manufacturing and Service Operations Management, vol. 8, no. 4, Oct. 2006, pp. 407–25. Scopus, doi:10.1287/msom.1060.0116.
Iida T, Zipkin PH. Approximate solutions of a dynamic forecast-inventory model. Manufacturing and Service Operations Management. 2006 Oct 9;8(4):407–425.

Published In

Manufacturing and Service Operations Management

DOI

EISSN

1526-5498

ISSN

1523-4614

Publication Date

October 9, 2006

Volume

8

Issue

4

Start / End Page

407 / 425

Related Subject Headings

  • Operations Research
  • 4901 Applied mathematics
  • 3509 Transportation, logistics and supply chains
  • 1505 Marketing
  • 1503 Business and Management
  • 0102 Applied Mathematics