Minimax analysis for finite-horizon inventory models

Guillermo Gallego; Jennifer K. Ryan; David Simchi-Levi

doi:10.1080/07408170108936879

Minimax analysis for finite-horizon inventory models

Guillermo Gallego, Jennifer K. Ryan^*, David Simchi-Levi

^*Corresponding author for this work

Research output: Contribution to journal › Journal Article › peer-review

Abstract

We consider stochastic finite-horizon inventory models with discrete distributions that are incompletely specified by selected moments, percentiles, or a combination of moments and percentiles. The objective is to determine an inventory policy that minimizes the maximum expected cost over the class of demand distributions satisfying the specifications described above. We show that many inventory models of this form can be solved by a sequence of linear programs.

Original language	English
Pages (from-to)	861-874
Number of pages	14
Journal	IIE Transactions (Institute of Industrial Engineers)
Volume	33
Issue number	10
DOIs	https://doi.org/10.1080/07408170108936879
Publication status	Published - 2001
Externally published	Yes

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10.1080/07408170108936879

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title = "Minimax analysis for finite-horizon inventory models",

abstract = "We consider stochastic finite-horizon inventory models with discrete distributions that are incompletely specified by selected moments, percentiles, or a combination of moments and percentiles. The objective is to determine an inventory policy that minimizes the maximum expected cost over the class of demand distributions satisfying the specifications described above. We show that many inventory models of this form can be solved by a sequence of linear programs.",

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Minimax analysis for finite-horizon inventory models

Abstract

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