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