Optimality of (s, S) policies for jump inventory models

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Article ID:	iaor2013284
Volume:	76
Issue:	3
Start Page Number:	377
End Page Number:	393
Publication Date:	Dec 2012
Journal:	Mathematical Methods of Operations Research
Authors:	Benkherouf Lakdere, Johnson Michael
Keywords:	decision, combinatorial optimization

Abstract:

This paper is concerned with the optimality of (s, S) policies for a single‐item inventory control problem which minimizes the total expected cost over an infinite planning horizon and where the demand is driven by a piecewise deterministic process. Our approach is based on the theory of quasi‐variational inequality.

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