A single-period inventory placement problem for a supply system with the satisficing objective
Consider the inventory placement problem in an N-stage supply system facing a stochastic demand for a single planning period. Each stage is a stocking point holding some form of inventory (e.g., raw materials, subassemblies, product returns or finished products) that after a suitable transformation can satisfy demand. Stocking decisions are made before demand occurs. Unsatisfied demands are lost. The revenue, salvage value, ordering, transformation, and lost sales costs are proportional. There are fixed costs for utilizing stages for stock storage. The objective is to maximize the probability of achieving a given target profit level.
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- Shi, Chunming Victor & Zhao, Xuan & Xia, Yu, 2010. "The setting of profit targets for target oriented divisions," European Journal of Operational Research, Elsevier, vol. 206(1), pages 86-92, October.
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- Stephen C. Graves & Sean P. Willems, 2003. "Erratum: Optimizing Strategic Safety Stock Placement in Supply Chains," Manufacturing & Service Operations Management, INFORMS, vol. 5(2), pages 176-177.
- John Payne, 2005. "It is Whether You Win or Lose: The Importance of the Overall Probabilities of Winning or Losing in Risky Choice," Journal of Risk and Uncertainty, Springer, vol. 30(1), pages 5-19, January.
- Khouja, Moutaz, 1999. "The single-period (news-vendor) problem: literature review and suggestions for future research," Omega, Elsevier, vol. 27(5), pages 537-553, October.
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