Asymptotic Scaling of Optimal Cost and Asymptotic Optimality of Base-Stock Policy in Several Multidimensional Inventory Systems

References

• Arts J, van Houtum GJ, Zwart B (2017) The asymptotic hazard rate of sums of discrete random variables. Statist. Probab. Lett. 125:171–173.Crossref, Google Scholar
• Arts J, Levi R, van Houtum GJ, Zwart B (2015) Base-stock policies for lost-sales models: Aggregation and asymptotics. Accessed July 7, 2024, https://pure.tue.nl/ws/files/10242908/wp_491.pdf.Google Scholar
• Bijvank M, Huh WT, Janakiraman G (2023) Lost-sales inventory systems. Song J-SJ, ed. Research Handbook on Inventory Management (Edward Elgar Publishing, Northampton, MA), 2–26.Crossref, Google Scholar
• Bijvank M, Huh WT, Janakiraman G, Kang W (2014) Robustness of order-up-to policies in lost-sales inventory systems. Oper. Res. 62(5):1040–1047.Link, Google Scholar
• Bu J, Gong X, Chao X (2023) Asymptotic optimality of base-stock policies for perishable inventory systems. Management Sci. 69(2):846–864.Link, Google Scholar
• Chao X, Gong X, Shi C, Zhang H (2015) Approximation algorithms for perishable inventory systems. Oper. Res. 63(3):585–601.Link, Google Scholar
• Chao X, Gong X, Shi C, Yang C, Zhang H, Zhou SX (2018) Approximation algorithms for capacitated perishable inventory systems with positive lead times. Management Sci. 64(11):5038–5061.Link, Google Scholar
• Chazan D, Gal S (1977) A Markovian model for a perishable product inventory. Management Sci. 23(5):512–521.Link, Google Scholar
• Cooper WL (2001) Pathwise properties and performance bounds for a perishable inventory system. Oper. Res. 49(3):455–466.Link, Google Scholar
• Goldberg DA, Reiman MI, Wang Q (2021) A survey of recent progress in the asymptotic analysis of inventory systems. Production Oper. Management 30(6):1718–1750.Crossref, Google Scholar
• Huh WT, Janakiraman G, Muckstadt JA, Rusmevichientong P (2009) Asymptotic optimality of order-up-to policies in lost sales inventory systems. Management Sci. 55(3):404–420.Link, Google Scholar
• Janakiraman G, Seshadri S, Shanthikumar G (2007) A comparison of the optimal costs of two canonical inventory systems. Oper. Res. 55(5):866–875.Link, Google Scholar
• Karaesmen IZ, Scheller-Wolf A, Deniz B (2011) Managing perishable and aging inventories: Review and future research directions. Kempf K, Keskinocak P, Uzsoy R, eds. Planning Production and Inventories in the Extended Enterprise, International Series in Operations Research & Management Science, vol. 151 (Springer, New York), 393–436.Crossref, Google Scholar
• Karlin S, Scarf H (1958) Inventory models of the Arrow–Harris–Marschak type with time leg. Arrow K, Karlin S, Scarf H, eds. Studies in the Mathematical Theory of Inventory and Production (Stanford University Press, Stanford, CA), 155–178.Google Scholar
• Karush W (1957) A queuing model for an inventory problem. Oper. Res. 5(5):693–703.Link, Google Scholar
• Korevaar J, van Aardenne-Ehrenfest T, De Bruijn N (1949) A note on slowly oscillating functions. Nieuw Archief voor Wiskunde 2(23):77–86.Google Scholar
• Levi R, Janakiraman G, Nagarajan M (2008) A 2-approximation algorithm for stochastic inventory control models with lost sales. Math. Oper. Res. 33(2):351–374.Link, Google Scholar
• Li Q, Yu P (2023) Perishable inventory systems. Song J-SJ, eds. Research Handbook on Inventory Management (Edward Elgar Publishing, Northampton, MA), 27–45.Crossref, Google Scholar
• Li Q, Yu P, Wu X (2016) Managing perishable inventories in retailing: Replenishment, clearance sales, and segregation. Oper. Res. 64(6):1270–1284.Link, Google Scholar
• Nahmias S (1976) Myopic approximations for the perishable inventory problem. Management Sci. 22(9):1002–1008.Link, Google Scholar
• Nahmias S (2011) Perishable Inventory Systems, International Series in Operations Research & Management Science (ISOR), vol. 160 (Springer, Cham, Switzerland).Crossref, Google Scholar
• Reiman MI (2004) A new and simple policy for the continuous review lost sales inventory model. Accessed July 7, 2024, https://9p.io/who/marty/mypub/lostsales2.pdf.Google Scholar
• Smith SA (1977) Optimal inventories for an (S−1,S) system with no backorders. Management Sci. 23(5):522–528.Link, Google Scholar
• van Jaarsveld W, Arts J (2024) Projected inventory-level policies for lost sales inventory systems: Asymptotic optimality in two regimes. Oper. Res., ePub ahead of print April 1, https://doi.org/10.1287/opre.2021.0032.Link, Google Scholar
• Veinott AF (1960) Optimal ordering, issuing and disposal of inventory with known demand. PhD thesis, Columbia University, New York.Google Scholar
• Xin L (2021) Understanding the performance of capped base-stock policies in lost-sales inventory models. Oper. Res. 69(1):61–70.Link, Google Scholar
• Xin L (2022) 1.79-approximation algorithms for continuous review single-sourcing lost-sales and dual-sourcing inventory models. Oper. Res. 70(1):111–128.Link, Google Scholar
• Xin L, Goldberg DA (2016) Optimality gap of constant-order policies decays exponentially in the lead time for lost sales models. Oper. Res. 64(6):1556–1565.Link, Google Scholar
• Zhang C, Ayer T, White CC III (2023) Truncated balancing policy for perishable inventory management: Combating high shortage penalties. Manufacturing Service Oper. Management 25(6):2352–2370.Abstract, Google Scholar
• Zhang H, Zhang J, Zhang RQ (2020) Simple policies with provable bounds for managing perishable inventory. Production Oper. Management 29(11):2637–2650.Crossref, Google Scholar
• Zipkin P (2008) Old and new methods for lost-sales inventory systems. Oper. Res. 56(5):1256–1263.Link, Google Scholar