Building a Multi-Period Probability Dynamic Inventory Model with Application
Section: Research Paper
Pages
85-101Keywords:
Dynamic inventory problem,
Multi-periods,
Probabilistic Dynamic Programming
Abstract
In this paper addresses the multi-period single-item inventory problem with stochastic demands. In which the demand in each period is known but it varies from time to time for N replenishment periods.
The main idea is to calculate expected the total minimum cost and the optimal quantity and the optimal replenishment periods using probabilistic dynamic programming.
The results showed the optimal replenishment are (1, 10, 28), optimal quantity is (34974) and the expected total minimum cost is (883.487).
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How to Cite
Building a Multi-Period Probability Dynamic Inventory Model with Application. (2013). AL-Rafidain Journal of Computer Sciences and Mathematics, 10(1), 85-101. https://doi.org/10.33899/csmj.2013.163443
Copyright and Licensing

This work is licensed under a Creative Commons Attribution 4.0 International License.
How to Cite
Building a Multi-Period Probability Dynamic Inventory Model with Application. (2013). AL-Rafidain Journal of Computer Sciences and Mathematics, 10(1), 85-101. https://doi.org/10.33899/csmj.2013.163443





