Accession Number : AD0682003

Title :   OPTIMALITY AND COMPUTATION OF THE STATIONARY (s,S) INVENTORY CONTROL PROBLEM.

Descriptive Note : Technical rept.,

Corporate Author : FLORIDA UNIV GAINESVILLE DEPT OF INDUSTRIAL AND SYSTEMS ENGINEERING

Personal Author(s) : Sivazlian, B. D.

Report Date : MAY 1968

Pagination or Media Count : 54

Abstract : The single product periodic review inventory control problem operating under the (s,S) policy with the demand described by a continuous random variable, is analyzed as a Markov decision process. Necessary and sufficient conditions for the existence of an optimal stationary (s,S) policy are derived. Methods to determine the optimum values of s and Q = S-s using essentially Laplace transform expressions involving the conditional expected cost per period are analyzed. The existence problem associated with an (s-S) inventory policy is also discussed. (Author)

Descriptors :   (*INVENTORY CONTROL, OPTIMIZATION), STOCHASTIC PROCESSES, INTEGRAL TRANSFORMS, COSTS, DECISION THEORY.

Subject Categories : Logistics, Military Facilities and Supplies

Distribution Statement : APPROVED FOR PUBLIC RELEASE