Smart EOQ Models: Incorporating AI and Machine Learning for Inventory Optimization
dynami c EOQ, reinforcement learning; stochastic inventory control, perishable inventory,
Abstract
The framework reduced total costs by 24.9% versus stochastic EOQ benchmarks. Key innovation: closed-loop control where ₜ = RL(ₜ) adapts to real-time supply-chain states.
Downloads
How to Cite
References
Ford Harris (1913) How Many Parts to Make at Once. 38(6), 947-950.
A Schmitt, S Kumar, S Gambhir (2017) The value of real-time data in supply chain decisions: Limits of static models in a volatile world. 193, 684-697.
M Bijvank, I Vis, Y Bozer (2014) Lost-sales inventory systems with order crossover. 237(1), 152-166.
K Ferreira, B Lee, D Simchi-Levi (2016) Analytics for an online retailer: Demand forecasting and price optimization. 18(1), 69-88.
A Oroojlooy, M Nazari, L Snyder, M Takác (2020) A deep Q-network for the beer game: Reinforcement learning for inventory optimization. 32(1), 137-153.
B Seaman (2021) Time series forecasting with LSTM neural networks for retail demand. 38(4), 12609.
J Gijsbrechts, R Boute, J Van Mieghem, D Zhang (2022) Can deep reinforcement learning improve inventory management. 68(1), 243-265.
M Bakker, J Riezebos, R Teunter (2012) Review of inventory systems with deterioration since 2001. 50(24), 7117-7139.
J Trapero, N Kourentzes, R Fildes, M Spiteri (2019) Promotion-driven demand forecasting in retailing: A machine learning approach. 35(2), 712-726.
K Govindan, H Soleimani, D Kannan (2020) Multi-echelon supply chain challenges: A review and framework. 142, 102049.
R Rossi (2014) Stochastic perishable inventory control: Optimal policies and heuristics. 50, 121-130.
Paul Zipkin (2000) Inventory Service-Level Measures: Convexity and Approximation. 32(8), 975-981.
H Scarf (1960) The optimality of (s, S) policies in the dynamic inventory problem. 196-202.
Published
2025-09-03
Issue
Section
License
Copyright (c) 2025 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.