
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 nperiod problem. A generalization of Kconvex and quasiconvex functions to quasiKconvex functions is required in the process. The probability densities of demand must be onesided 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