A stochastic inventory model with stock dependent demand items. (Q5960918)
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scientific article; zbMATH DE number 1731210
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A stochastic inventory model with stock dependent demand items. |
scientific article; zbMATH DE number 1731210 |
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A stochastic inventory model with stock dependent demand items. (English)
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2001
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Summary: We propose a new continuous time stochastic inventory model for stock dependent demand items. We then formulate the problem of finding the optimal replenishment schedule that minimizes the total expected discounted costs over an infinite horizon as a Quasi-Variational Inequality (QVI) problem. The QVI is shown to have a unique solution under some conditions.
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