Article

On Computational Procedures for Optimising an Omni-Channel Inventory Control Model

Authors:

Joost Goedhart,

Eligius M. T. HendrixAuthors Info & Claims

Computational Science and Its Applications – ICCSA 2022 Workshops: Malaga, Spain, July 4–7, 2022, Proceedings, Part II

Pages 29 - 42

https://doi.org/10.1007/978-3-031-10562-3_3

Published: 04 July 2022 Publication History

Abstract

Dynamic programming (DP) and specifically Markov Decision Problems (MDP) are often seen in inventory control as a theoretical path towards optimal policies, which are (often) not tractable due to the curse of dimensionality. A careful bounding of decision and state space and use of resources may provide the optimal policy for realistic instances despite the dimensionality of the problem. We will illustrate this process for an omni-channel inventory control model where the first dimension problem is to keep track of the outstanding ordered quantities and the second dimension is to keep track of items sold online that can be returned.

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On Computational Procedures for Optimising an Omni-Channel Inventory Control Model

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Computational Science and Its Applications – ICCSA 2022 Workshops: Malaga, Spain, July 4–7, 2022, Proceedings, Part II

Jul 2022

694 pages

ISBN:978-3-031-10561-6

DOI:10.1007/978-3-031-10562-3

Editors:
Osvaldo Gervasi
University of Perugia, Perugia, Italy
,
Beniamino Murgante
University of Basilicata, Potenza, Potenza, Italy
,
Sanjay Misra
Østfold University College, Halden, Norway
,
Ana Maria A. C. Rocha
University of Minho, Braga, Portugal
,
Chiara Garau
University of Cagliari, Cagliari, Italy

Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.The images or other third party material in this chapter are included in the chapter's Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the chapter's Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder.

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Springer-Verlag

Berlin, Heidelberg

Publication History

Published: 04 July 2022

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Abstract

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Recommendations

An integrated replenishment and production control policy under inventory inaccuracy and time-delay

Probabilistic Economic Order Quantity (EOQ) for the Flour Inventory Control (Case Study in Company Z)

Dynamic control in multi-item production/inventory systems

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