Optimality of Supermarket Inventory Policies Under Stochastic Demand in Uganda:A Case Study of Milk Powder Product

Simple item page
dc.contributor.authorMubiru, Kizito Paul
dc.contributor.authorKariko-Buhwezi, Bernard
dc.contributor.authorLating, Peter
dc.date.accessioned2022-06-11T17:22:31Z
dc.date.available2022-06-11T17:22:31Z
dc.date.issued1998
dc.description.abstractEffective inventory management requires cost-effective methods in determining the optimal ordering decisions of cycle inventories in a stochastic demand environment. In this paper, an inventory model with stochastic demand is developed to analyze the ordering decisions of milk powder in supermarkets given a periodic review inventory system under stochastic demand. Adopting a Markov decision process approach, the states of a Markov chain represent possible states of demand for milk powder product. The decision of when to order is made using dynamic programming over a finite period planning horizon. The approach demonstrates the existence of an optimal state-dependent ordering policy as well as the corresponding total inventory costs.en_US
dc.identifier.citationMubiru, K. P., Kariko-Buhwezi, B., & Lating, P. Optimality of Supermarket Inventory Policies under Stochastic Demand in Uganda: A Case Study of Milk Powder Product. In PROCEEDING OF THE EIGTH OPERATIONS RESEARCH SOCIETY FOR EASTERN AFRICA (ORSEA) INTERNATIONAL CONFERENCE (p. 250).en_US
dc.identifier.urihttps://nru.uncst.go.ug/handle/123456789/3892
dc.language.isoenen_US
dc.publisherPROCEEDING OF THE EIGTH OPERATIONS RESEARCH SOCIETY FOR EASTERN AFRICA (ORSEA) INTERNATIONAL CONFERENCEen_US
dc.subjectModeling, Optimization, inventory policy, stochastic demanden_US
dc.titleOptimality of Supermarket Inventory Policies Under Stochastic Demand in Uganda:A Case Study of Milk Powder Producten_US
dc.typePresentationen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Optimality_of_Supermarket_Inventory_Policies_Under.pdf
Size:
7.27 MB
Format:
Adobe Portable Document Format
Description:
Optimality of Supermarket Inventory Policies Under Stochastic Demand in Uganda:A Case Study of Milk Powder Product
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Social Sciences