2026-05-27T04:46:09Zhttps://riuma.uma.es/rest/oai/request

oai:riuma.uma.es:10630/183092026-02-03T11:51:12Zcom_10630_2254col_10630_37959

Kortenhorst, Cleo G.F. Ortega, Gloria L. Hendrix, Eligius María Theodorus 2019-09-11T10:44:48Z 2019-09-11T10:44:48Z 2019-09-11 https://hdl.handle.net/10630/18309 Dynamic programming (DP) is often seen in inventory control to lead to optimal ordering policies. When considering stationary demand, Value Iteration (VI) may be used to derive the best policy. In this paper, our focus is on the computational procedures to implement VI. Practical implementation requires bounding carefully the state space and demand in an adequate way. We illustrate with small cases the challenge of the implementation. We also show that handling service level constraints is not straightforward from a DP point of view. Moreover, when taking the age distribution into account for perishable products, the curse of dimensionality provides an additional challenge. eng http://creativecommons.org/licenses/by-nd/4.0/ open access Attribution-NoDerivatives 4.0 Internacional Programación dinámica On computational procedures for Value Iteration in inventory control conference output