On the optimality of \((s,S)\) inventory policies: A quasivariational approach (Q948841): Difference between revisions
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| Property / cites work: On the Opimality of $( {s,S} )$ Inventory Policies: New Conditions and a New Proof / rank | |||
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Latest revision as of 17:16, 28 June 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | On the optimality of \((s,S)\) inventory policies: A quasivariational approach |
scientific article |
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On the optimality of \((s,S)\) inventory policies: A quasivariational approach (English)
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15 October 2008
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Summary: This paper revisits the classical discrete-time stationary inventory model. A new proof, based on the theory of quasivariational inequality (QVI), of the optimality of \((s,S)\) policy is presented. This proof reveals a number of interesting properties of the optimal cost function. Further, the proof could be used as a tutorial for applications of QVI to inventory control.
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