Optimal Stock Allocation for a Capacitated Supply System
Management Science
Mathematics of Operations Research
Brief paper: Robust invariant sets for constrained storage systems
Automatica (Journal of IFAC)
Capacity Rationing in Stochastic Rental Systems with Advance Demand Information
Operations Research
Dynamic resource allocation in a multi-product make-to-stock production system
Queueing Systems: Theory and Applications
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We consider the problem of dynamically allocating production capacity between two products to minimize the average inventory and backorder costs per unit time in a make-to-stock single machine system. Using sample path comparisons and dynamic programming, we give a characterization of the optimal hedging point policy for a certain region of the state space. The characterization is simple enough to lead to easily implementable heuristics and provides a formal justification of some of the earlier heuristics proposed.