IDEAS home Printed from https://ideas.repec.org/a/wsi/apjorx/v32y2015i02ns0217595915500050.html
   My bibliography  Save this article

The Optimal Order Policy for a Capacitated Multiple Product Inventory System Under Symmetry

Author

Listed:
  • Yi Feng

    (School of Management and Economics, University of Electronic Science and Technology of China, Chengdu, P. R. China, 610054, P. R. China)

  • Shaoxiang Chen

    (Nanyang Business School, Nanyang Technological University, Singapore, 639798, Singapore)

  • Wenqiang Dai

    (School of Management and Economics, University of Electronic Science and Technology of China, Chengdu, P. R. China, 610054, P. R. China)

Abstract

Although many researches have conjectured the optimality of the hedging point policy for the multiple-product stochastic capacitated periodic review problem, it is still a challenge to prove the hypothesis. This paper considers a special case of the capacitated multiple-product periodic review problem where stochastic demand distribution, production rate, unit production cost and periodic expected inventory cost are the same for all different products. For this symmetric problem, we prove an optimal policy where ordering and non-ordering regions for every product are defined. Our research provides significant implications to the characterization of the optimal policy for the general problem.

Suggested Citation

  • Yi Feng & Shaoxiang Chen & Wenqiang Dai, 2015. "The Optimal Order Policy for a Capacitated Multiple Product Inventory System Under Symmetry," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 32(02), pages 1-17.
    • Handle: RePEc:wsi:apjorx:v:32:y:2015:i:02:n:s0217595915500050
    DOI: 10.1142/S0217595915500050
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0217595915500050
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0217595915500050?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:apjorx:v:32:y:2015:i:02:n:s0217595915500050. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/apjor/apjor.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.