LAUSR.org creates dashboard-style pages of related content for over 1.5 million academic articles. Sign Up to like articles & get recommendations!

The Convergence of Gallego’s Iterative Method for Distribution-Free Inventory Models

Photo from wikipedia

For inventory models with unknown distribution demand, during shortages, researchers used the first and the second moments to derive an upper bound for the worst case, that is the min-max… Click to show full abstract

For inventory models with unknown distribution demand, during shortages, researchers used the first and the second moments to derive an upper bound for the worst case, that is the min-max distribution-free procedure for inventory models. They applied an iterative method to generate a sequence to obtain the optimal order quantity. A researcher developed a three-sequence proof for the convergence of the order quantity sequence. We directly provide proof for the original order quantity sequence. Under our proof, we can construct an increasing sequence and a decreasing sequence that both converge to the optimal order quantity such that we can obtain the optimal solution within the predesigned threshold value.

Keywords: inventory models; sequence; distribution free; iterative method

Journal Title: Mathematics
Year Published: 2019

Link to full text (if available)


Share on Social Media:                               Sign Up to like & get
recommendations!

Related content

More Information              News              Social Media              Video              Recommended



                Click one of the above tabs to view related content.