(s,S)-type policy for a production inventory problem with limited backlogging and with stockouts
Applicationes Mathematicae (1997)
- Volume: 24, Issue: 3, page 343-354
- ISSN: 1233-7234
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topRempała, Ryszarda. "(s,S)-type policy for a production inventory problem with limited backlogging and with stockouts." Applicationes Mathematicae 24.3 (1997): 343-354. <http://eudml.org/doc/219176>.
@article{Rempała1997,
abstract = {A production inventory problem with limited backlogging and with stockouts is described in a discrete time, stochastic optimal control framework with finite horizon. It is proved by dynamic programming methods that an optimal policy is of (s,S)-type. This means that in every period the policy is completely determined by two fixed levels of the stochastic inventory process considered.},
author = {Rempała, Ryszarda},
journal = {Applicationes Mathematicae},
keywords = {(s,S)-policy; inventory; dynamic programming; limited backlogging; k-convexity; production inventory problem; stockouts; discrete time, stochastic optimal control},
language = {eng},
number = {3},
pages = {343-354},
title = {(s,S)-type policy for a production inventory problem with limited backlogging and with stockouts},
url = {http://eudml.org/doc/219176},
volume = {24},
year = {1997},
}
TY - JOUR
AU - Rempała, Ryszarda
TI - (s,S)-type policy for a production inventory problem with limited backlogging and with stockouts
JO - Applicationes Mathematicae
PY - 1997
VL - 24
IS - 3
SP - 343
EP - 354
AB - A production inventory problem with limited backlogging and with stockouts is described in a discrete time, stochastic optimal control framework with finite horizon. It is proved by dynamic programming methods that an optimal policy is of (s,S)-type. This means that in every period the policy is completely determined by two fixed levels of the stochastic inventory process considered.
LA - eng
KW - (s,S)-policy; inventory; dynamic programming; limited backlogging; k-convexity; production inventory problem; stockouts; discrete time, stochastic optimal control
UR - http://eudml.org/doc/219176
ER -
References
top- [1] A. Bensoussan, M. Crouhy and J. M. Proth, Mathematical Theory of Production Planning, North-Holland, Amsterdam, 1983. Zbl0564.90010
- [2] D. Bertsekas, Dynamic Programming and Stochastic Control, Academic Press, 1976.
- [3] S. Bylka, Algorithm for turnpike policies in the dynamic lot size model, Appl. Math. (Warsaw) 24 (1996), 57-75. Zbl0858.90047
- [4] A. Chikan (ed.), Inventory Models, Kluwer, 1990.
- [5] R. Rempała, An aspect of (s,S) inventory policy, in: Inventory Modelling, Vol. I, L. Bogataj (ed.), International Society for Inventory Research and University of Ljubljana, 1995, 15-21.
- [6] H. Scraf, The optimality of (S,s) policies in the dynamic inventory problem, in: Mathematical Methods in the Social Sciences, K. J. Arrow, S. Karlin and P. Suppes (eds.), Stanford University Press, 1960, Chapter 13.
- [7] J. Zabczyk, Stochastic control of discrete-time systems, in: Control Theory and Topics in Functional Analysis, Vol. III, International Atomic Energy Agency, Vienna, 1976, 187-223.
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