
Accession Number : AD0700573
Title : ON THE OPTIMALITY OF GENERALIZED (s,S) POLICIES,
Corporate Author : RAND CORP SANTA MONICA CALIF
Personal Author(s) : Porteus,Evan L.
Report Date : JAN 1970
Pagination or Media Count : 32
Abstract : A standard inventory model is examined with a concave increasing ordering cost function rather than simply a linear one with a setup cost. A generalized (s,S) policy is shown to be optimal in the nperiod problem. A generalization of Kconvex and quasiconvex functions to quasiKconvex functions is required in the process. The probability densities of demand must be one sided Polya densities. (Author)
Descriptors : (*INVENTORY CONTROL, OPTIMIZATION), MATHEMATICAL MODELS, COSTS, STOCHASTIC PROCESSES, PROBABILITY DENSITY FUNCTIONS
Subject Categories : Operations Research
Distribution Statement : APPROVED FOR PUBLIC RELEASE