Author:
Brown Mark,Solomon Herbert
Abstract
We consider a stockpile in which each item has a stochastic field life with known distribution, this distribution changing in time in a known deterministic fashion. The problem is to order the items for issuance to the field with the objective of maximizing the total field life. Under monotone likelihood ratio assumptions on the field life distributions, and convexity and concavity assumptions on the change in time of the distributions, we show that LIFO and FIFO policies possess a strong optimality property.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
Cited by
35 articles.
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