TY - JOUR
T1 - A fully polynomial-time approximation scheme for single-item stochastic inventory control with discrete demand
AU - Halman, Nir
AU - Klabjan, Diego
AU - Mostagir, Mohamed
AU - Orlin, Jim
AU - Simchi-Levi, David
PY - 2009/8
Y1 - 2009/8
N2 - The single-item stochastic inventory control problem is to find an inventory replenishment policy in the presence of independent discrete stochastic demands under periodic review and finite time horizon. In this paper, we prove that this problem is intractable and design for it a fully polynomial-time approximation scheme.
AB - The single-item stochastic inventory control problem is to find an inventory replenishment policy in the presence of independent discrete stochastic demands under periodic review and finite time horizon. In this paper, we prove that this problem is intractable and design for it a fully polynomial-time approximation scheme.
KW - Approximation algorithms
KW - Stochastic dynamic programming
KW - Stochastic inventory management
UR - http://www.scopus.com/inward/record.url?scp=70349289793&partnerID=8YFLogxK
U2 - 10.1287/moor.1090.0391
DO - 10.1287/moor.1090.0391
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AN - SCOPUS:70349289793
SN - 0364-765X
VL - 34
SP - 674
EP - 685
JO - Mathematics of Operations Research
JF - Mathematics of Operations Research
IS - 3
ER -