A multi-period inventory model with multi-dimensional procurement bidding
A multi-period inventory model with multi-dimensional procurement bidding
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DOI:
10.1007/s10479-011-0893-4
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发表时间:
2011-05
影响因子:
4.8
通讯作者:
Pooya Farahvash;T. Altiok
中科院分区:
文献类型:
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作者:
Pooya Farahvash;T. Altiok
We consider a multi-period inventory model with raw material procurements carried out via a reverse auction. Bids are multi-dimensional, and they consist of supplier information of price, shortage quantity and lead time. This work is an extension of our earlier work that has focused on multi-dimensional procurement auctions in single-period inventory models, to multi-period settings. The new model is based on a hybrid approach combining stochastic dynamic programming and simulation.