Optimality of (s, S) Policies in Inventory Models with Markovian Demand

Released on by Suresh Sethi
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  • Optimality of (s, S) Policies in Inventory Models with Markovian Demand Book Detail

  • Author : Suresh Sethi
  • Release Date : 2014
  • Publisher :
  • Genre :
  • Pages : 0
  • ISBN 13 :
  • File Size : 36,36 MB
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Optimality of (s, S) Policies in Inventory Models with Markovian Demand by Suresh Sethi PDF Summary

Book Description: This paper is concerned with a generalization of classical inventory models (with fixed ordering costs) that exhibit (s, S) policies. In our model, the distribution of demands in successive periods is dependent on a Markov chain. The model includes the case of cyclic or seasonal demand. The model is further extended to incorporate some other realistic features such as no ordering periods and storage and service level constraints. Both finite and infinite horizon nonstationary problems are considered. We show that (s, S) policies are also optimal for the generalized model as well as its extensions.

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Markovian Demand Inventory Models

Markovian Demand Inventory Models

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This text provides a superbly researched insight into Markovian demand inventory models. The result of ten years of research, this work covers all aspects of de