Optimality of myopic inventory policy for a single-product, multi-period, stochastic inventory problem with batch ordering and capacity commitment

References

• Anupindi , R. and Akella , R. 1993 . “ An inventory model with commitments ” . Ann Arbor , MI : University of Michigan . Working paper
   Google Scholar
• Bassok , Y. and Anupindi , R. 1997 . Analysis of supply contracts with total minimum commitment . IIE Transactions , 29 : 373 – 381 .
   Web of Science ®Google Scholar
• Bassok , Y. and Anupindi , R. 2008 . Analysis of supply contracts with commitments and flexibility . Naval Research Logistics , 55 : 459 – 477 .
   Web of Science ®Google Scholar
• Cachon , G. P. 2001 . Exact evaluation of batch-ordering inventory policies in two-echelon supply chains with periodic review . Operations Research , 49 : 79 – 98 .
   Web of Science ®Google Scholar
• Chen , F. 2000 . Optimal policies for multi-echelon inventory problems with batch ordering . Operations Research , 48 : 376 – 389 .
   Web of Science ®Google Scholar
• Chen , F. Y. , Hum , S. H. and Sun , J. 2001 . Analysis of third-party warehousing contracts with commitments . European Journal of Operational Research , 131 : 603 – 610 .
   Web of Science ®Google Scholar
• Eppen , G. and Iyer , A. 1997 . Backup agreements in fashion buying—the value of upstream flexibility . Management Science , 43 : 1469 – 1484 .
   Web of Science ®Google Scholar
• Federgruen , A. and Zipkin , P. 1986a . An inventory model with limited production capacity and uncertain demands. I. The average-cost criterion . Mathematics of Operations Research , 11 : 193 – 207 .
   Web of Science ®Google Scholar
• Federgruen , A. and Zipkin , P. 1986b . An inventory model with limited production capacity and uncertain demands. II. The discounted-cost criterion . Mathematics of Operations Research , 11 : 208 – 215 .
   Web of Science ®Google Scholar
• Hadley , G. and Whitin , T. M. 1963 . Analysis of Inventory Systems , Englewood Cliffs , NJ : Prentice-Hall .
   Google Scholar
• Heyman , D. and Sobel , M. 1984 . Stochastic Models in Operations Research Vol. II , McGraw-Hill Book Company, New York, NY .
   Google Scholar
• Ignall , E. J. and Veinott , A. F. 1969 . Optimality of myopic inventory policies for several substitute products . Management Science , 15 : 284 – 304 .
   Web of Science ®Google Scholar
• Karaman , A. and Altiok , T. 2009 . Approximate analysis and optimization of batch ordering policies in capacitated supply chains . European Journal of Operational Research , 193 : 222 – 237 .
   Web of Science ®Google Scholar
• Lovejoy , W. S. 1992 . Stopped myopic policies in some inventory models with generalized demand processes . Management Science , 38 : 688 – 707 .
   Web of Science ®Google Scholar
• Moinzadeh , K. and Nahmias , S. 2000 . Adjustment strategies for a fixed delivery contract . Operations Research , 48 : 408 – 423 .
   Web of Science ®Google Scholar
• Schwarz , L. B. , Deuermeyer , B. L. and Badinelli , B. D. 1985 . Fill-rate optimization in a warehouse N-identical retailer distribution system . Management Science , 41 : 488 – 498 .
   Web of Science ®Google Scholar
• Sobel , M. 1981 . Myopic solutions of Markov decision processes and stochastic games . Operations Research , 29 : 995 – 1009 .
   Web of Science ®Google Scholar
• Tibben-Lembke , R. 2004 . N-period contracts with ordering constraints and total minimum commitments: optimal and heuristic solutions . European Journal of Operational Research , 156 : 353 – 374 .
   Web of Science ®Google Scholar
• Topan , E. , Bayindir , Z. P. and Tan , T. 2010 . An exact solution procedure for multi-item two-echelon spare parts inventory control problem with batch ordering in the central warehouse . Operations Research Letters , 38 : 454 – 461 .
   Web of Science ®Google Scholar
• Tsay , A. and Lovejoy , W. S. 1999 . Quantity flexibility contract and supply chain performance . Manufacturing and Service Operations Management , 1 : 89 – 111 .
   Google Scholar
• Urban , T. 2000 . Supply contracts with periodic, stationary commitment . Production and Operations Management , 9 : 400 – 413 .
   Web of Science ®Google Scholar
• Veinott , A. F. 1965a . Optimal policy for a multi-product dynamic nonstationary inventory problem . Management Science , 12 : 206 – 222 .
   Web of Science ®Google Scholar
• Veinott , A. F. 1965b . The optimal inventory policy for batch ordering . Operations Research , 13 ( 3 ) : 424 – 432 .
   Web of Science ®Google Scholar
• Veinott , A. F. 1998 . “ Inventories and networks ” . CA : Stanford University . Lecture notes
   Google Scholar
• Xu , N. 2005 . Muti-period dynamic supply contracts with cancellation . Computers & Operations Research , 32 : 3129 – 3142 .
   Web of Science ®Google Scholar
• Xu , N. 2009 . Optimal policy for a dynamic, non-stationary, stochastic inventory problem with capacity commitment . European Journal of Operational Research , 199 : 400 – 408 .
   Web of Science ®Google Scholar
• Zhang , W. , Hua , Z. and Benjaafar , S. 2012 . Optimal inventory control with dual-sourcing, heterogeneous ordering costs and order size constraints . Production and Operations Management , 21 : 564 – 575 .
   Web of Science ®Google Scholar