| Article ID: | iaor19911205 |
| Country: | Netherlands |
| Volume: | 19 |
| Issue: | 1/3 |
| Start Page Number: | 189 |
| End Page Number: | 195 |
| Publication Date: | May 1990 |
| Journal: | Engineering Costs and Production Economics |
| Authors: | Bulinskaya E.V. . |
The paper introduces the notion of asymptotically optimal policies, since it is impossible to obtain the optimal policy in the case of unknown demand distribution. A policy is called asymptotically optimal if the long run mean costs per time unit under this policy are equal to those under the optimal policy. The method of constructing the asymptotically optimal policies based on empirical data is demonstrated on the inventory model with two suppliers.