Optimal Strategy for Integrated Dynamic Inventory Control and Supplier Selection in Unknown Environment via Stochastic Dynamic Programming

2016 International Congress on Theoretical and Applied Mathematics, Physics and Chemistry

数学;物理学;化学

Sutrisno^1 ; Widowati^1 ; Solikhin^1

Department of Mathematics, Diponegoro University, Semarang, Indonesia^1

关键词: Inventory control problems;    Numerical experiments;    Optimal strategies;    Purchasing costs;    Stochastic dynamic programming;    Stochastic dynamics;    Supplier selection;    Unknown environments;   

Others  :  https://iopscience.iop.org/article/10.1088/1742-6596/725/1/012008/pdf
DOI  :  10.1088/1742-6596/725/1/012008

来源: IOP

【 摘 要 】

In this paper, we propose a mathematical model in stochastic dynamic optimization form to determine the optimal strategy for an integrated single product inventory control problem and supplier selection problem where the demand and purchasing cost parameters are random. For each time period, by using the proposed model, we decide the optimal supplier and calculate the optimal product volume purchased from the optimal supplier so that the inventory level will be located at some point as close as possible to the reference point with minimal cost. We use stochastic dynamic programming to solve this problem and give several numerical experiments to evaluate the model. From the results, for each time period, the proposed model was generated the optimal supplier and the inventory level was tracked the reference point well.