Preprint Open access
Towards Optimal Inventory Control under Censored Demand: A Biased Sample-Average Approximation Approach
We study data-driven multi-period lost-sales inventory control under censored demand, where a stockout reveals only that demand exceeded the stocking level. We develop a unified, model-based framework for policy learning from censored data, built on a new cost decomposition for base-stock policies and a biased sample-a …