The inventory models considered so far are all deterministic in nature; demand is assumed to be known and either constant over the infinite horizon or varying over a finite horizon. In many logistics systems, however, such assumptions are not appropriate. Typically, demand is a random variable whose distribution may be known.
CITATION STYLE
Simchi-Levi, D., Chen, X., & Bramel, J. (2014). Stochastic Inventory Models. In Springer Series in Operations Research and Financial Engineering (pp. 151–175). Springer Nature. https://doi.org/10.1007/978-1-4614-9149-1_9
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