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| Author: | Kiesmüller, G. P. Scherer, C. W. |
| Title: | Computational issues in a stochastic finite horizon one product recovery inventory model |
| Journal: | European Journal of Operational Research
2003 : MAY, VOL. 146:3, p. 553-579 |
| Index terms: | Inventory control Optimal control theory Dynamic programming |
| Freeterms: | Reverse logistics |
| Language: | eng |
| Abstract: | Using the results of Inderfurth (OR Spektrum 1997) and Simpson (Operational research 1978) the authors provide a method for the exact computation of the parameters which determine the optimal periodic policy. Since exact computation is, especially in case of dynamic demands and returns, quite time consuming, they also provide two different approximations. One is based on an approximation of the value-function in the dynamic programming problem while the other approximation is based on a deterministic model. |
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