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: | Zipkin Paul, Song Jing-Sheng |
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.