TY  - JOUR
TT  - STOCHASTIC INVENTORY OPTIMIZATION PROBLEMS UNDER PROCESS FLEXIBILITY ASSUMPTION: DYNAMIC PROGRAMMING SOLUTION
AU  - Çimen, Mustafa
AU  - Belbağ, Sedat
PY  - 2015
DA  - December
JF  - Gazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
PB  - Ankara Hacı Bayram Veli Üniversitesi
WT  - DergiPark
SN  - 1302-2024
SP  - 255
EP  - 270
VL  - 17
IS  - 3
KW  - Süreç Esnekliği
KW  - Stokastik Stok Optimizasyonu
KW  - Markov Karar Süreci
KW  - Dinamik Programlama
N2  - Flexible manufacturing process provides competative advantage over  rivals in high competative industries. Process Flexibility is an ability to change  the volumes and range of products in one or more production facilities.  Companies intagrates process flexibility into their systems by using high  technology machines, educating workers or redesigning facility layouts.  Although process flexibility ensures competetive advantage, it complicates  inventory management due to high product volumes and ranges. This study  aims to model stochastic inventory optimization problem under process  flexibility assumption as a Markov Decision Process and solve the model with  Dynamic Programming. Our model optimally solve four different process  flexibility problem. To illustrete importance of optimal policies, optimal results  compare with Deterministic Myopic Policy which represents the imperfect  decisions of decision makers.
UR  - https://dergipark.org.tr/tr/pub/gaziuiibfd/issue//300788
L1  - https://dergipark.org.tr/tr/download/article-file/287157
ER  -