Optimization in Stock Control Models with Markov Property

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Optimization in Stock Control Models with Markov Property

Popis výsledku v původním jazyce

The paper describes a special case of stock control models with stochastic character. Common stochastic stock control models assume indeterminate demand for stock. In some situations we could suppose the demand to have Markov proper-ty. This means that current state of demand is dependent on previous state of de-mand. This situation would determine different way of stock resupply and it leads to different approach when setting-up a stock level, which, of course, affects holding costs. As we require total costs to be as low as possible, it is necessary to develop a new strategy suitable for these situations. This paper is to develop proper formulae usable for calculation of stock level and optimal holding costs in case of demand with Markov property. The first part of the paper describes occurrence of such situation in stock control theory. In the second part, the way of computation and real application is described.

Název v anglickém jazyce

Optimization in Stock Control Models with Markov Property

Popis výsledku anglicky

The paper describes a special case of stock control models with stochastic character. Common stochastic stock control models assume indeterminate demand for stock. In some situations we could suppose the demand to have Markov proper-ty. This means that current state of demand is dependent on previous state of de-mand. This situation would determine different way of stock resupply and it leads to different approach when setting-up a stock level, which, of course, affects holding costs. As we require total costs to be as low as possible, it is necessary to develop a new strategy suitable for these situations. This paper is to develop proper formulae usable for calculation of stock level and optimal holding costs in case of demand with Markov property. The first part of the paper describes occurrence of such situation in stock control theory. In the second part, the way of computation and real application is described.

Druh

D - Stať ve sborníku

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2010

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Mathematical methods in economics 2010, part I

ISBN

978-80-7394-218-2

ISSN

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e-ISSN

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Počet stran výsledku

5

Strana od-do

232-236

Název nakladatele

University of South Bohemia in České Budějovice, Faculty of Economics

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

8. 9. 2010

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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