Optimal control in an inventory management problem considering replenishment lead time based upon a non-diffusive stochastic differential equation
An inventory management problem is theoretically discussed for a factory having effects of lead times in replenishing the inventory, where it stocks materials used for its products. It is assumed that the factory can dynamically control the size of ordering materials. By applying the stochastic cont...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
The Japan Society of Mechanical Engineers
2019-01-01
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| Series: | Journal of Advanced Mechanical Design, Systems, and Manufacturing |
| Subjects: | |
| Online Access: | https://www.jstage.jst.go.jp/article/jamdsm/13/1/13_2019jamdsm0008/_pdf/-char/en |