Matches in SemOpenAlex for { <https://semopenalex.org/work/W3156187798> ?p ?o ?g. }
Showing items 1 to 93 of
93
with 100 items per page.
- W3156187798 abstract "This paper advances significantly the literature on the optimality of the base stock policy by generalizing the demand distribution and beginning with a completely general belief prior to be updated as demands are observed over time. As the value function depends on the belief, the functional Bellman equation is infinite-dimensional. We use unnormalized probabilities to linearize it and derive a functional equation for the derivative of the value function. This provides a constructive approach to obtain the base stock as well as the value function. We completely characterize the way the base stock depends on the belief, and implement it in two important cases. In the case of conjugate probabilities, we show rigorously that the infinite-dimensional problem reduces to one in terms of a finite-dimensional sufficient statistic. We solve numerically an example of Weibull demand. The second case considers the demand to come from one of two possible distributions, but we don’t know which. This gives a functional equation in two hyperparameters. We develop two approximation schemes to solve it, obtain the formulas for the base stock, and show numerically that both procedures converge and provide nearly the same base stocks. Finally, our methodology can be used for examples such as the case of multiple possible demands and the case when a fixed ordering cost is present." @default.
- W3156187798 created "2021-04-26" @default.
- W3156187798 creator A5014997393 @default.
- W3156187798 creator A5023319606 @default.
- W3156187798 creator A5027426452 @default.
- W3156187798 creator A5088868657 @default.
- W3156187798 date "2020-01-01" @default.
- W3156187798 modified "2023-10-03" @default.
- W3156187798 title "Inventory Control Driven by Demand Data: Optimality and Computation of Base Stocks" @default.
- W3156187798 cites W1545761024 @default.
- W3156187798 cites W1971442578 @default.
- W3156187798 cites W2051206585 @default.
- W3156187798 cites W2072709311 @default.
- W3156187798 cites W2082247722 @default.
- W3156187798 cites W2096686485 @default.
- W3156187798 cites W2106985921 @default.
- W3156187798 cites W2110603989 @default.
- W3156187798 cites W2112051922 @default.
- W3156187798 cites W2114338588 @default.
- W3156187798 cites W2119013702 @default.
- W3156187798 cites W2122897173 @default.
- W3156187798 cites W2122975995 @default.
- W3156187798 cites W2123637439 @default.
- W3156187798 cites W2141054642 @default.
- W3156187798 cites W2142326735 @default.
- W3156187798 cites W2148560199 @default.
- W3156187798 cites W2156028130 @default.
- W3156187798 cites W2160657294 @default.
- W3156187798 cites W2161705596 @default.
- W3156187798 cites W2220426087 @default.
- W3156187798 cites W2333299167 @default.
- W3156187798 cites W2884885462 @default.
- W3156187798 cites W3107016817 @default.
- W3156187798 cites W3121219864 @default.
- W3156187798 cites W3122532879 @default.
- W3156187798 cites W3122970981 @default.
- W3156187798 cites W3125754499 @default.
- W3156187798 cites W3126095556 @default.
- W3156187798 cites W4240372278 @default.
- W3156187798 cites W634974191 @default.
- W3156187798 doi "https://doi.org/10.2139/ssrn.3730630" @default.
- W3156187798 hasPublicationYear "2020" @default.
- W3156187798 type Work @default.
- W3156187798 sameAs 3156187798 @default.
- W3156187798 citedByCount "2" @default.
- W3156187798 countsByYear W31561877982020 @default.
- W3156187798 countsByYear W31561877982021 @default.
- W3156187798 crossrefType "journal-article" @default.
- W3156187798 hasAuthorship W3156187798A5014997393 @default.
- W3156187798 hasAuthorship W3156187798A5023319606 @default.
- W3156187798 hasAuthorship W3156187798A5027426452 @default.
- W3156187798 hasAuthorship W3156187798A5088868657 @default.
- W3156187798 hasConcept C11413529 @default.
- W3156187798 hasConcept C117938511 @default.
- W3156187798 hasConcept C126255220 @default.
- W3156187798 hasConcept C134209975 @default.
- W3156187798 hasConcept C134306372 @default.
- W3156187798 hasConcept C162324750 @default.
- W3156187798 hasConcept C21547014 @default.
- W3156187798 hasConcept C33923547 @default.
- W3156187798 hasConcept C41008148 @default.
- W3156187798 hasConcept C42058472 @default.
- W3156187798 hasConcept C42475967 @default.
- W3156187798 hasConcept C45374587 @default.
- W3156187798 hasConceptScore W3156187798C11413529 @default.
- W3156187798 hasConceptScore W3156187798C117938511 @default.
- W3156187798 hasConceptScore W3156187798C126255220 @default.
- W3156187798 hasConceptScore W3156187798C134209975 @default.
- W3156187798 hasConceptScore W3156187798C134306372 @default.
- W3156187798 hasConceptScore W3156187798C162324750 @default.
- W3156187798 hasConceptScore W3156187798C21547014 @default.
- W3156187798 hasConceptScore W3156187798C33923547 @default.
- W3156187798 hasConceptScore W3156187798C41008148 @default.
- W3156187798 hasConceptScore W3156187798C42058472 @default.
- W3156187798 hasConceptScore W3156187798C42475967 @default.
- W3156187798 hasConceptScore W3156187798C45374587 @default.
- W3156187798 hasLocation W31561877981 @default.
- W3156187798 hasOpenAccess W3156187798 @default.
- W3156187798 hasPrimaryLocation W31561877981 @default.
- W3156187798 hasRelatedWork W1989536387 @default.
- W3156187798 hasRelatedWork W1990327940 @default.
- W3156187798 hasRelatedWork W1992114019 @default.
- W3156187798 hasRelatedWork W2019887556 @default.
- W3156187798 hasRelatedWork W2060616142 @default.
- W3156187798 hasRelatedWork W2077922717 @default.
- W3156187798 hasRelatedWork W2116782807 @default.
- W3156187798 hasRelatedWork W3009650430 @default.
- W3156187798 hasRelatedWork W432717001 @default.
- W3156187798 hasRelatedWork W624450268 @default.
- W3156187798 isParatext "false" @default.
- W3156187798 isRetracted "false" @default.
- W3156187798 magId "3156187798" @default.
- W3156187798 workType "article" @default.