Locally Optimal Inventory Control with Time Delay in Deliveries and Incomplete Information on Demand

Adaptive supply management with constraints

“…Various methods for solving supply control problems are discussed in [2][3][4][5][6]. In this paper, we propose using supplycontrol algorithms based on a local quadratic criterion in order to maintain the desired volume of goods in the trading company's warehouse.…”

Inventory Control with Time Delays in Deliveries Using Linear and Quadratic Criteria

“…The main advantage of the method optimal control with such criteria is a significant simplification of the synthesis procedure. These methods have been applied to control in technical systems, chemical processes, inventory control, production-inventory system, and portfolio optimization [3][4][5][6][7][8].…”

“…It is assumed that the demand model contains unknown additional terms. In contrast to [7], it is possible to have many delays in the model that means taking into account the deliveries of goods from different suppliers. Also, it is proposed to use the smoothing algorithms for calculating estimates of demand and forecast of demand.…”