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> 内容提要: > In most retail environments, when inventory runs out, the unmet demand > is lost and not observed. The sales data are effectively censored by the > inventory level. Factoring this censored data effect into demand > estimation and inventory control decision makes the problem difficult to > solve. In this paper, we focus on developing bounds and heuristics for > this problem. Specifically, we consider a finite-horizon inventory > control problem for a non-perishable product with unobserved lost sales > and a demand distribution having an unknown parameter. The parameter is > estimated sequentially by the Bayesian updating method. We first derive > a set of solution upper bounds that work for all prior and demand > distributions. For a fairly general monotone likelihood-ratio > distribution family, we derive relaxed but easily-computable lower and > upper bounds along an arbitrary sample path. We then propose two > heuristics. The first heuristic is derived from the solution bound > results. Computing this heuristic solution only requires the evaluation > of the objective function in the observed lost sales case. The second > heuristic is based on the approximation of the first-order condition. We > combine the first-order derivatives of the simpler observed-lost-sales > and perishable-inventory models to obtain the approximation. For the > latter case, we obtain a recursive formula that simplifies the > computation. Finally, we conduct an extensive numerical study to > evaluate and compare the bounds and heuristics. The numerical results > indicate that both heuristics perform very well. They outperform the > myopic policies by a wide margin.
> 报告人简介: > Li Chen is an assistant professor in operations management at the Fuqua > School of Business, Duke University. Before joining Duke, Li was on the > founding team and served as the lead scientist at TrueDemand Software. > Li obtained his PhD degree from the Department of Management Science and > Engineering at Stanford University.
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