Newsvendor Networks: Inventory Management and Capacity Investment with Discretionary Activities
Newsvendor Networks: Inventory Management and Capacity Investment with Discretionary Activities
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DOI：
10.1287/msom.4.4.313.5728
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发表时间：
2002-10
期刊：
影响因子：
--
通讯作者：
J. V. Mieghem;N. Rudi
中科院分区：
文献类型：
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作者：
J. V. Mieghem;N. Rudi
我们介绍了一类模型，称为报童网络，允许多个产品和多个处理和存储点，并调查其单期属性扩展到动态设置。这些模型提供了一个简洁的框架来研究随机容量投资和库存管理的各种问题，包括装配，通用性，分销，灵活性，替代和转运。报童网络是一种具有追索权的随机模型，其特征在于线性收入和成本结构以及线性投入产出转换。虽然在不确定性得到解决之前，产能和库存决策就被锁定，但通过事后投入产出活动决策，仍有一些管理自由裁量权。事后决策涉及活动及其级别的选择，并可能带来微妙的好处。这种选择的自由裁量权是通过替代或“非基本”活动来捕获的，这些活动可以重新部署投入和资源，以最好地应对已解决的不确定事件。非基本活动从来没有在一个确定性的环境中使用;他们的价值源于自由裁量权的灵活性，以满足随机需求偏离经营点。继续经典的报童类比，最佳平衡条件可以解释为指定多个“关键分位数”的多元需求分布，他们还建议适当的措施和产品服务水平之间的权衡。本文证明了在合理的条件下，报童网络最优解的性质扩展到动态环境。事实上，我们建立了动态最优的库存和容量政策的销售损失的情况下。根据非基本活动的不同，这也扩展到延交订货的情况。分析和模拟为基础的解决方案技术和图形化的解释，并说明了一个全面的例子，具有自由裁量权的输入共性和灵活的处理资源。
We introduce a class of models, callednewsvendor networks, that allow for multiple products and multiple processing and storage points and investigate how their single-period properties extend to dynamic settings. Such models provide a parsimonious framework to study various problems of stochastic capacity investment and inventory management, including assembly, commonality, distribution, flexibility, substitution and transshipment. Newsvendor networks are stochastic models with recourse that are characterized by linear revenue and cost structures and a linear input-output transformation. While capacity and inventory decisions are locked in before uncertainty is resolved, some managerial discretion remains via ex-post input-output activity decisions. Ex-post decisions involve both the choice of activities and their levels and can result in subtle benefits. This discretion in choice is captured through alternate or "nonbasic" activities that can redeploy inputs and resources to best respond to resolved uncertain events. Nonbasic activities are never used in a deterministic environment; their value stems from discretionary flexibility to meet stochastic demand deviations from the operating point.The optimal capacity and inventory decisions balance overages with underages. Continuing the classic newsvendor analogy, the optimal balancing conditions can be interpreted as specifying multiple "critical fractiles" of the multivariate demand distribution; they also suggest appropriate measures for and trade-offs between product service levels. This paper shows that the properties of optimal newsvendor network solutions extend to a dynamic setting under plausible conditions. Indeed, we establish dynamic optimality of inventory and capacity policies for the lost sales case. Depending on the nonbasic activities, this also extends to the backordering case. Analytic- and simulation-based solution techniques and graphical interpretations are presented and illustrated by a comprehensive example that features discretionary input commonality and a flexible processing resource.