Inventory management with random supply and imperfect information: A hidden Markov model

@inproceedings{Arifoglu2011InventoryMW,
  title={Inventory management with random supply and imperfect information: A hidden Markov model},
  author={Kenan Arifoglu and S{\"u}leyman {\"O}zekici},
  year={2011}
}
In most of the papers on inventory models operating in a random environment, the state of the environment in each period is assumed to be fully observed with perfect information. However, this assumption is not realistic in most real-life situations and we provide a remedy in this paper by assuming that the environment is only partially observed with imperfect information. We accomplish this by analyzing two formulations of single-item models with periodic-review and random supply in a random… CONTINUE READING

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