A sample-path approach to the optimality of echelon order-up-to policies in serial inventory systems

A sample-path approach to the optimality of echelon order-up-to policies in serial inventory systems

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Article ID: iaor20102881
Volume: 36
Issue: 5
Start Page Number: 547
End Page Number: 550
Publication Date: Sep 2008
Journal: Operations Research Letters
Authors: ,
Keywords: programming: dynamic
Abstract:

We present a new proof of the optimality of echelon order-up-to policies in serial inventory systems, first proved by Clark and Scarf. Our proof is based on a sample-path analysis as opposed to the original proof based on dynamic programming induction.

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