Inventory control in a fluctuating demand environment

Inventory control in a fluctuating demand environment

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Article ID: iaor199458
Country: United States
Volume: 41
Issue: 2
Start Page Number: 351
End Page Number: 370
Publication Date: Mar 1993
Journal: Operations Research
Authors: ,
Abstract:

The authors present an inventory model, where the demand rate varies with an underlying state-of-the-world variable. This variable can represent economic fluctuations, or stages in the product life-cycle, for example. The authors derive some basic characteristics of optimal policies and develop algorithms for computing them. In addition, they show that certain monotonicity patterns in the problem data are reflected in the optimal policies.

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