On the Optimality of (s,S) Inventory Policies: A Quasivariational Approach-Reference-Cited by-同舟云学术

On the Optimality of (s,S) Inventory Policies: A Quasivariational Approach

Published:2008-09-03 Issue: Volume:2008 Page:1-9
ISSN:1048-9533
Container-title:Journal of Applied Mathematics and Stochastic Analysis
language:en
Short-container-title:Journal of Applied Mathematics and Stochastic Analysis

Author:

Benkherouf Lakdere¹

Affiliation:

1. Department of Statistics and Operations Research, College of Science, Kuwait University, P.O. Box 5969, Safat 13060, Kuwait

Abstract

This paper revisits the classical discrete-time stationary inventory model. A new proof, based on the theory of quasivariational inequality (QVI), of the optimality of (s,S) policy is presented. This proof reveals a number of interesting properties of the optimal cost function. Further, the proof could be used as a tutorial for applications of QVI to inventory control.

Publisher

Hindawi Limited

Subject

Applied Mathematics,Modeling and Simulation,Statistics and Probability

Link

http://downloads.hindawi.com/archive/2008/158193.pdf

Reference10 articles.

1. Optimality of (s,S) Policies in the Infinite Horizon Dynamic Inventory Problem

2. On the Opimality of $( {s,S} )$ Inventory Policies: New Conditions and a New Proof

3. Impulsive control in management: Prospects and applications

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