On the optimality of \((s,S)\) inventory policies: A quasivariational approach (Q948841)
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scientific article; zbMATH DE number 5351721
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| English | On the optimality of \((s,S)\) inventory policies: A quasivariational approach |
scientific article; zbMATH DE number 5351721 |
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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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