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Building a Multi-Period Probability Dynamic Inventory Model with Application | ||
| AL-Rafidain Journal of Computer Sciences and Mathematics | ||
| Article 22, Volume 10, Issue 1, 2013, Pages 85-101 PDF (567.33 K) | ||
| Document Type: Research Paper | ||
| DOI: 10.33899/csmj.2013.163443 | ||
| Authors | ||
| Ahmed Mahmoodi Al-Sebaw; Noor Abdul Aziz Hussein | ||
| College of Computer Science and Mathematics University of Mosul, Mosul, Iraq | ||
| Abstract | ||
| In this paper addresses the multi-period single-item inventory problem with stochastic demands. In which the demand in each period is known but it varies from time to time for N replenishment periods. The main idea is to calculate expected the total minimum cost and the optimal quantity and the optimal replenishment periods using probabilistic dynamic programming. The results showed the optimal replenishment are (1, 10, 28), optimal quantity is (34974) and the expected total minimum cost is (883.487). | ||
| Keywords | ||
| Dynamic inventory problem; Multi-periods; Probabilistic Dynamic Programming | ||
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