Hidden Markov models for inventory systems with deteriorating items

Allen H. Tai

doi:10.1504/IJMOR.2015.068289

Hidden Markov models for inventory systems with deteriorating items

Allen H. Tai

Research output: Journal article publication › Journal article › Academic research › peer-review

2 Citations (Scopus)

Abstract

In this paper, we propose to apply hidden Markov model (HMM) in modelling an inventory system for deteriorating items. Each item in the inventory has certain chance to deteriorate in a fixed period of time. We propose models for both cases of deterministic and stochastic demands. With the information provided by customers, the inventory levels in the system, which are unknown, can be estimated. Numerical examples are provided to demonstrate the effectiveness of the proposed models.

Original language	English
Pages (from-to)	138-155
Number of pages	18
Journal	International Journal of Mathematics in Operational Research
Volume	7
Issue number	2
DOIs	https://doi.org/10.1504/IJMOR.2015.068289
Publication status	Published - 24 Feb 2015

Keywords

Deteriorating items
Hidden Markov model
HMM
Inventory systems

ASJC Scopus subject areas

Modelling and Simulation
Decision Sciences(all)

More information

10.1504/IJMOR.2015.068289

Cite this

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