Asymptotically Optimal Inventory Control for Assemble-to-Order Systems with Identical Lead Times

@article{Reiman2015AsymptoticallyOI,
  title={Asymptotically Optimal Inventory Control for Assemble-to-Order Systems with Identical Lead Times},
  author={Martin I. Reiman and Qiong Wang},
  journal={Operations Research},
  year={2015},
  volume={63},
  pages={716-732}
}
Optimizing multi-product assemble-to-order (ATO) inventory systems is a long-standing difficult problem. We consider ATO systems with identical component lead times and a general ‘bill of materials’. We use a related two-stage stochastic program (SP) to set a lower bound on the average inventory cost and develop inventory control policies for the dynamic ATO system using this SP. We apply the first-stage SP optimal solution to specify a base-stock replenishment policy, and the second-stage SP… CONTINUE READING

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