(Q; r) model with Cv aRα of costs minimization

María Andrea Arias Serna, Maŕa Eugenia Puerta Yepes, Céesar Edinson Escalante Coterio, Gerardo Arango Ospina

Resultado de la investigación: Contribución a una revistaArtículoInvestigaciónrevisión exhaustiva

Resumen

In the classical stochastic continuous review, (Q; r) model [18, 19], the inventory cost c(Q; r) has an averaging term which is given as an integral of the expected costs over the different inventory positions during the lead time on any given cycle. The main objective of the article is to study risk averse optimization in the classical (Q; r) model using CV aRα as a coherent risk measure with respect to the probability distribution of the demand D on inventory position costs (the sum of the inventory holding and backorder penality cost), for any given (generic) confidence level α ∈ [0, 1). We show that the objective function is jointly convex in (Q; r). We also compare the risk averse solution and some other solutions in both analytical and computational ways. Additionally, some general and useful results are obtained.

Idioma originalInglés
Páginas (desde-hasta)135-146
Número de páginas12
PublicaciónJournal of Industrial and Management Optimization
Volumen13
N.º1
DOI
EstadoPublicada - 1 ene 2017

Huella dactilar

Cost Minimization
Costs
Coherent Risk Measures
Continuous Review
Backorder
Confidence Level
Model
Probability distributions
Averaging
Probability Distribution
Objective function
Cycle
Cost minimization
Optimization
Term
Risk-averse

Citar esto

Serna, María Andrea Arias ; Yepes, Maŕa Eugenia Puerta ; Coterio, Céesar Edinson Escalante ; Ospina, Gerardo Arango. / (Q; r) model with Cv aRα of costs minimization. En: Journal of Industrial and Management Optimization. 2017 ; Vol. 13, N.º 1. pp. 135-146.
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(Q; r) model with Cv aRα of costs minimization. / Serna, María Andrea Arias; Yepes, Maŕa Eugenia Puerta; Coterio, Céesar Edinson Escalante; Ospina, Gerardo Arango.

En: Journal of Industrial and Management Optimization, Vol. 13, N.º 1, 01.01.2017, p. 135-146.

Resultado de la investigación: Contribución a una revistaArtículoInvestigaciónrevisión exhaustiva

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