Thesis Type: Postgraduate
Institution Of The Thesis: Middle East Technical University, Faculty of Engineering, Department of Industrial Engineering, Turkey
Approval Date: 2005
Thesis Language: English
Student: Emel Arıkan
Supervisor: HALDUN SÜRALAbstract:
In this study we address a periodic review capacitated inventory system with supply uncertainty where advance demand information is available. A stochastic dynamic programming formulation is applied with the objective of minimizing the expected inventory related costs over a finite horizon. Three different supply processes are assumed. Under the all-or-nothing type supply process and partially available supply process, the structure of optimal policy is proved to be a base stock policy and numerical examples are given to demonstrate the effects of system parameters. Under Binomially distributed supply process it is shown that a simple base stock policy is not optimal.