Service level approximations for multiechelon inventory systems

Article Abstract:

An approximate strategy for forecasting the service levels of a one-warehouse/N-identical retailer system running under a (Q,r) replenishment policy is determined. The interarrival times of customer orders are assumed to be independent and Erlang distributed. The service level is computed based on the convex combination of the cases where the warehouse has some stocks when the retailer orders and where the warehouse is empty when the retailer orders. Probability approximations are employed for determining the distribution of the delay time.

Retail Trade, Models, Management, Retail industry, Inventory control

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Evaluation of nondominated solution sets for k-objective optimization problems: an exact method and approximations

Article Abstract:

Solution for bi-criteria optimization problem is derived using computational geometry. An integrated preference functional method is developed for solving the problem. Monte Carlo approximation method is also applied to solve the problem.

United States, Methods, Tests, problems and exercises, Usage, Geometry, Monte Carlo method, Monte Carlo methods, Integration, Functional, Functional integration (Mathematics), Mathematical optimization, Optimization theory

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