Accession Number : AD0720590

Title :   On the Optimality of Generalized (s,S) Policies,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Porteus,Evan L.

Report Date : MAY 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 n-period problem. A generalization of K-convex and quasi-convex functions to quasi-K-convex functions is required in the process. The probability densities of demand must be one-sided Polya densities. (Author)

Descriptors :   (*INVENTORY CONTROL, MATHEMATICAL MODELS), STOCHASTIC PROCESSES, PROBABILITY DENSITY FUNCTIONS, COSTS, MATRICES(MATHEMATICS), OPTIMIZATION

Subject Categories : Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE