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Explore a novel supply capacity forecast model for enhancing inventory control by leveraging partial supply information. This study proposes a new approach where the buyer receives current period supply capacity details based on the ordering quantity. Optimal inventory policies, demand and supply forecast techniques, and utilizing censored historical supply data are covered. Learn to maximize customer-service rates while managing inventory efficiently without excess stock.
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Optimal Multiperiod Inventory Decisions with Partially Observed Markovian Supply Information Haifeng WangCFINS, Dept. of Automation, Tsinghua University, Beijing, ChinaHoumin YanDept. of SEEM, the Chinese University of Hong Kong • A new model for supply capacity forecast based on partial supply information: • if the ordering quantity is greater than the current period supply capacity, the buyer observes the value of the current period supply capacity • otherwise, the buyer knows that the current period supply capacity is greater than its ordering quantity. • Optimal inventory policy • Existence • Uniqueness Demand forecast Supply forecast Inventory control How to use censored historical data on supply capacity? Maintain a high customer-service rate without holding too much leftover inventory
