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AL-Rafidain Journal of Computer Sciences and Mathematics

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Building a Multi-Period Probability Dynamic Inventory Model with Application

    Ahmed Mahmoodi Al-Sebaw Noor Abdul Aziz Hussein

AL-Rafidain Journal of Computer Sciences and Mathematics, 2013, Volume 10, Issue 1, Pages 85-101
10.33899/csmj.2013.163443

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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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(2013). Building a Multi-Period Probability Dynamic Inventory Model with Application. AL-Rafidain Journal of Computer Sciences and Mathematics, 10(1), 85-101. doi: 10.33899/csmj.2013.163443
Ahmed Mahmoodi Al-Sebaw; Noor Abdul Aziz Hussein. "Building a Multi-Period Probability Dynamic Inventory Model with Application". AL-Rafidain Journal of Computer Sciences and Mathematics, 10, 1, 2013, 85-101. doi: 10.33899/csmj.2013.163443
(2013). 'Building a Multi-Period Probability Dynamic Inventory Model with Application', AL-Rafidain Journal of Computer Sciences and Mathematics, 10(1), pp. 85-101. doi: 10.33899/csmj.2013.163443
Building a Multi-Period Probability Dynamic Inventory Model with Application. AL-Rafidain Journal of Computer Sciences and Mathematics, 2013; 10(1): 85-101. doi: 10.33899/csmj.2013.163443
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