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Stochastic Inventory Models

  • Julien Bramel
  • David Simchi-Levi
Part of the Springer Series in Operations Research book series (ORFE)

Abstract

The inventory models considered so far are all deterministic in nature; demand is assumed to be known and either constant over the infinite horizon or varying over a finite horizon. In many logistics systems, however, such assumptions are not appropriate. Typically, demand is a random variable whose distribution may be known.

Keywords

Inventory Level Order Quantity Expected Profit Shortage Cost Optimal Order Quantity 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag New York, Inc. 1997

Authors and Affiliations

  • Julien Bramel
    • 1
  • David Simchi-Levi
    • 2
  1. 1.Management Science Division Graduate School of BusinessColumbia UniversityNew YorkUSA
  2. 2.Department of Industrial Engineering and Management SciencesNorthwestern UniversityEvanstonUSA

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