A periodic-review inventory model with application to the continuous-review obsolescence problem - Yuyue Song and Hoong Chuin Lau

17 Jun 2012
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Abstract: “In this paper we consider a stochastic-demand periodic-review inventory model with sudden obsolescence. We characterize the structure of the optimal policy and propose a dynamic programming algorithm for computing its parameters. We then utilize this algorithm to approximate the solution to the continuous-review sudden obsolescence problem with general obsolescence distribution. We prove convergence of our approximation scheme, and demonstrate it numerically against known closed-form solutions of special cases.”

Follow the link: http://www.mysmu.edu/faculty/hclau/ObsolescenceEJOR.pdf

Last modified on Thursday, 05 July 2012 11:54
Dimitra Papadopoulou

Dimitra Papadopoulou is Junior Consultant at ABSC GmbH working within the field of Configuration Management. She graduated with a Magister degree of Management Science and Technology specialized in Management Information Systems, Business Strategy and Human Resources at Athens University of Economics and Business. She successfully practiced and worked in the areas of Telecommunication & Information Systems in Greece and Supply Chain Management in Austria as well as within the European Public Institutions in Brussels. Her current research focuses on Obsolescence Management and Configuration Management including process and strategy implementation in aviation and aerospace businesses.

As an innovative full service system integrator in the fields of engineering services and IT services ABSC GmbH supports many international companies along their development and operation of business processes with complete solutions since over 20 years. ABSC creates customized and innovative obsolescence management concepts and provides competent, reliable and sustainable optimization of processes, projects and infrastructure. ABSC supports businesses as long-term partner for the definition and implementation of customer specific complete obsolescence management solutions and round off their range of services with specific seminars and events.

Website: www.obsolescence-management.net

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