Approximate solutions and cost error bounds for quantity flexibility replenishment

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Under an environment with quantity flexibility replenishment, we explore the approximate solutions to determine ordering quantities when the demand is correlated with dynamic forecast updating. Moreover, we show the optimality of the myopic policy. We further develop the corresponding cost error bounds to evaluate the performance of the approximate solutions. Extensive numerical experiments demonstrate that our approximate solution can achieve a lower cost performance compared with other bounds.

Originele taal-2English
Pagina's (van-tot)306-315
Aantal pagina's10
TijdschriftInternational Journal of Production Economics
Vroegere onlinedatum28-jul-2017
StatusPublished - nov-2017

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