Dynamic Control and Optimization of Capital-Constrained Stochastic Inventory Systems

CORC > 数学与系统科学研究院 > 中国科学院数学与系统科学研究院 > 系统科学研究所

	Dynamic Control and Optimization of Capital-Constrained Stochastic Inventory Systems
	Zhao Xiuli 2; Wang Shouyang1
刊名	运筹与管理
	2015
卷号	024 期号:002 页码:1
ISSN号	1007-3221
英文摘要	For most firms,especially the small-and medium-sized ones,the operational decisions are affected by their internal capital and ability to obtain external capital. However,the majority of the current studies on dynamic inventory control ignore the firm’s financial status and financing issues completely. An important question that arises is： what are the dynamic optimal inventory and financing policies for firms with limited capital and limited access to external capital？In this paper,we review some of the latest developments in this area. After a brief review of single period models,we focus on multi-period dynamic control of the firm who aims to optimize its xpected terminal wealth. Two cases are discussed in detail： self-finance and short term finance. In the first case,the firm has to rely on its own capital for all ordering decisions,while in the second,the firm can borrow short term loan from lenders. A detailed characterization of the optimal policy is presented and its managerial insights are discussed. Several possible extensions are suggested.
语种	英语
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/46636]
专题	系统科学研究所
作者单位	1.中国科学院数学与系统科学研究院 2.密歇根大学
推荐引用方式 GB/T 7714	Zhao Xiuli,Wang Shouyang. Dynamic Control and Optimization of Capital-Constrained Stochastic Inventory Systems[J]. 运筹与管理,2015,024(002):1.
APA	Zhao Xiuli,&Wang Shouyang.(2015).Dynamic Control and Optimization of Capital-Constrained Stochastic Inventory Systems.运筹与管理,024(002),1.
MLA	Zhao Xiuli,et al."Dynamic Control and Optimization of Capital-Constrained Stochastic Inventory Systems".运筹与管理 024.002(2015):1.