Asymptotic optimality of base-stock policies for lost-sales inventory systems with stochastic lead times

被引：0
|
作者：
Yuan, Shilin [1 ]
Lyu, Jiameng [1 ]
Xie, Jinxing [1 ]
Zhou, Yuan [1 ,2 ,3 ]
机构：
[1] Tsinghua Univ, Dept Math Sci, Beijing 100084, Peoples R China
[2] Tsinghua Univ, Yau Math Sci Ctr, Beijing 100084, Peoples R China
[3] Beijing Inst Math Sci & Applicat, Beijing 101408, Peoples R China
来源：
OPERATIONS RESEARCH LETTERS | 2024年 / 57卷
关键词：
Lost-sales inventory system; Stochastic lead time; Asymptotic analysis; Base-stock policy; CONSTANT-ORDER POLICIES; UP-TO POLICIES;
D O I：
10.1016/j.orl.2024.107196
中图分类号：
C93 [管理学]; O22 [运筹学];
学科分类号：
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要：
We consider the lost-sales inventory systems with stochastic lead times and establish the asymptotic optimality of base-stock policies for such systems. Specifically, we prove that as the per-unit lost-sales penalty cost becomes large compared to the per-unit holding cost, the ratio of the optimal base-stock policy's cost to the optimal cost converges to one. Our paper provides a theoretical guarantee of the widely adopted base-stock policies in lostsales inventory systems with stochastic lead times for the first time.
引用
收藏
页数：7
相关论文
共 50 条
  • [41] Inter-Departure Times in Base-Stock Inventory-Queues
    Liwei Bai
    Brian Fralix
    Liming Liu
    Weixin Shang
    Queueing Systems, 2004, 47 : 345 - 361
  • [42] UCB-Type Learning Algorithms with Kaplan-Meier Estimator for Lost-Sales Inventory Models with Lead Times
    Lyu, Chengyi
    Zhang, Huanan
    Xin, Linwei
    OPERATIONS RESEARCH, 2024, 72 (04) : 1317 - 1332
  • [43] Capacitated Serial Inventory Systems: Sample Path and Stability Properties Under Base-Stock Policies
    Huh, Woonghee Tim
    Janakiraman, Ganesh
    Nagarajan, Mahesh
    OPERATIONS RESEARCH, 2010, 58 (04) : 1017 - 1022
  • [44] Procurement strategies for lost-sales inventory systems with all-units discounts
    Wang, Huihui
    Yu, Yimin
    Zhang, Wei
    Hua, Zhongsheng
    EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, 2019, 272 (02) : 539 - 548
  • [45] SOME OPTIMAL ORDERING POLICIES FOR INVENTORY SYSTEMS WITH STOCHASTIC LEAD TIMES
    WRIGHT, GP
    AUSTRALIAN JOURNAL OF STATISTICS, 1970, 12 (01): : 8 - &
  • [46] Networked Base-Stock Inventory Control in Complex Distribution Systems
    Ignaciuk, Przemyslaw
    Wieczorek, Lukasz
    MATHEMATICAL PROBLEMS IN ENGINEERING, 2019, 2019
  • [47] Using imperfect advance demand information in lost-sales inventory systems with the option of returning inventory
    Topan, Engin
    Tan, Tarkan
    van Houtum, Geert-Jan
    Dekker, Rommert
    IISE TRANSACTIONS, 2018, 50 (03) : 246 - 264
  • [48] Base Stock Inventory Systems with Compound Poisson Demand: Case of Partial Lost Sales
    Babai, M. Zied
    Jemai, Ziad
    Dallery, Yves
    ADVANCES IN PRODUCTION MANAGEMENT SYSTEMS: COMPETITIVE MANUFACTURING FOR INNOVATIVE PRODUCTS AND SERVICES, AMPS 2012, PT II, 2013, 398 : 693 - 698
  • [49] Advance demand information and a restricted production capacity: on the optimality of order base-stock policies
    Jacob Wijngaard
    Fikri Karaesmen
    OR Spectrum, 2007, 29 : 643 - 660
  • [50] Base-Stock Policies in Capacitated Assembly Systems: Convexity Properties
    Huh, Woonghee Tim
    Janakiraman, Ganesh
    NAVAL RESEARCH LOGISTICS, 2010, 57 (02) : 109 - 118
12345