Related papers: A Counterintuitive Example in Inventory Management
We consider a continuous-time model for inventory management with Markov modulated non-stationary demands. We introduce active learning by assuming that the state of the world is unobserved and must be inferred by the manager. We also…
In this paper, we consider an infinite horizon, continuous-review, stochastic inventory system in which cumulative customers' demand is price-dependent and is modeled as a Brownian motion. Excess demand is backlogged. The revenue is earned…
Industrial refrigeration systems have substantial energy needs, but optimizing their operation remains challenging due to the tension between minimizing energy costs and meeting strict cooling requirements. Load shifting--strategic…
This paper proves continuity of value functions in discounted periodic-review single-commodity total-cost inventory control problems with \revision{continuous inventory levels,} fixed ordering costs, possibly bounded inventory storage…
The probability of shortage absence is estimated for the storage of some transport system. The intensive computer methods of statistics are used in corresponding processes simulation. The efficiency of suggested approach, taking the mean…
We study how macroscopic observational constraints restrict admissible microscopic explanatory structures when no intrinsic order or dynamics is assumed a priori. Starting from an unordered collection of measurement outcomes, we formulate…
We consider a manufacturer who manages the end-of-life phase and takes one of the three actions at each period: (1) place an order, (2) use existing inventory, (3) stop holding inventory and use an outside/alternative source. Two examples…
The assortment problem in revenue management is the problem of deciding which subset of products to offer to consumers in order to maximise revenue. A simple and natural strategy is to select the best assortment out of all those that are…
Inventory models with lost sales and large lead times have traditionally been considered intractable due to the curse of dimensionality. Recently, Goldberg and co-authors laid the foundations for a new approach to solving these models, by…
A standard approach to optimizing long-run running costs of discrete systems is based on minimizing the mean-payoff, i.e., the long-run average amount of resources ("energy") consumed per transition. However, this approach inherently…
Recurrence equations have played a central role in static cost analysis, where they can be viewed as abstractions of programs and used to infer resource usage information without actually running the programs with concrete data. Such…
Counterfactual inference aims to estimate the counterfactual outcome at the individual level given knowledge of an observed treatment and the factual outcome, with broad applications in fields such as epidemiology, econometrics, and…
We study the canonical periodic review lost sales inventory system with positive leadtime and independent and identically distributed (i.i.d.) demand under the average cost criterion. We demonstrate that the relative value function under…
In this work, we give rigorous operational meaning to superposition of causal orders. This fits within a recent effort to understand how the standard operational perspective on quantum theory could be extended to include indefinite…
We consider a periodic-review, fixed-lifetime perishable inventory control problem where demand is a general stochastic process. The optimal solution for this problem is intractable due to "curse of dimensionality". In this paper, we first…
Recently, there has been a growing interest in developing inventory control policies which are robust to model misspecification. One approach is to posit that nature selects a worst-case distribution for any stochastic primitives from some…
We establish an operational theory of coherence (or of superposition) in quantum systems, by focusing on the optimal rate of performance of certain tasks. Namely, we introduce the two basic concepts - "coherence distillation" and "coherence…
In many classification settings, the class of primary interest is underrepresented, leading to imbalanced data problems that arise in applications such as rare disease detection and fraud identification. In these contexts, identifying a…
The main aim of this paper is to study the functional inequality \begin{equation*} \int_{[0,1]}f\bigl((1-t)x+ty\bigr)d\mu(t)\geq 0, \qquad x,y\in I \mbox{ with } x<y, \end{equation*} for a continuous unknown function $f:I\to{\mathbb R}$,…
The economics of prompt compression depend not only on reducing input tokens but on how compression changes output length, which is typically priced several times higher. We evaluate this in a pre-registered six-arm randomized controlled…