Online lot-sizing problems with ordering, holding and shortage costs

Authors:
Michael R. Wagner
Affiliations:
-
Venue:
Operations Research Letters
Year:
2011

Citing 13
Cited 0

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Abstract

We study inventory management problems where demands are revealed incrementally and procurement decisions must be made before the demands are realized. There are no probabilistic distributions nor non-trivial bounds to characterize demands. We consider two cost minimization problems: (1) perishable products with lost sales and (2) durable products with backlogged demand. In both problems, costs are period dependent. These problems are analyzed by utilizing linear-fractional programming and duality theory. Structural results are proved and then developed into practical strategies.