An improved algorithm for the minimax distribution-free inventory model with incident-oriented shortage costs

  • Lin R
  • Chouhuang W
  • Yang G
 et al. 
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Abstract

This article reconsiders Gallego's minimax distribution-free procedure. He created a two-point distribution to serve the most unfavorable case for estimating the expected cost of lost sales. We provide a reasonable condition to insure the existence and uniqueness of the optimal solution and the convergence of Gallego's method. © 2006 Elsevier B.V. All rights reserved.

Author-supplied keywords

  • Inventory
  • Lead time
  • Minimax distribution-free procedure

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Authors

  • Robert Lin

  • Wayne T. Chouhuang

  • Gino K. Yang

  • Cheng Tan Tung

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