Optimal Policies of an Inventory System with Multiple Demand Classes

• Published in: Tsinghua science and technology Vol. 15; no. 5; pp. 498 - 508
• Main Author: 周筠 赵晓波
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.10.2010
• Subjects: backorder; demand classes; inventory; lost-sale; setup cost; 定期检查; 库存系统; 最优分配; 讨论班; 设置成本; 随机动态规划; demand classes; backorder; inventory; setup cost; lost-sale
• ISSN: 1007-0214; 1878-7606; 1007-0214
• DOI: 10.1016/S1007-0214(10)70093-6

This paper deals with a periodic review inventory system serving multiple demand classes that are differentiated by the treatment for shortages.Shortages of some classes were treated according to lost-sales,while those of the others were backlogged.In each period,both replenishment decisions of inventory and allocation for all classes were made by a setup cost for each replenishment.By using the approach of stochastic dynamic programming formulation,the optimal replenishment policy is a state-dependent（s,S） policy,and the optimal allocation decision follows a state-dependent prioritization policy.