Optimal policies and bounds for stochastic inventory systems with lost sales

DOI10.1007/s10957-014-0537-3zbMath1307.90013MaRDI QIDQ2260670

Xiaoming Li

Publication date: 11 March 2015

Published in: Journal of Optimization Theory and Applications (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s10957-014-0537-3

zbMATH Keywords

dynamic programming; Markov chains; inventory control; lost sales

Mathematics Subject Classification ID

90B05: Inventory, storage, reservoirs

90C39: Dynamic programming

93E20: Optimal stochastic control

Related Items

Economic design of memory-type control charts: the fallacy of the formula proposed by Lorenzen and Vance (1986), A pollution sensitive Marxian production inventory model with deterioration under fuzzy system, Optimal replenishment strategy for inventory mechanism with step-shaped demand

Cites Work

• Unnamed Item
• Unnamed Item
• Unnamed Item
• Managing dynamic inventory systems with product returns: a Markov decision process
• Lost-sales inventory theory: a review
• Inventory models with Markovian demands and cost functions of polynomial growth
• Periodic review lost-sales inventory models with compound Poisson demand and constant lead times of any length
• On the Structure of Lost-Sales Inventory Models
• Old and New Methods for Lost-Sales Inventory Systems
• Simple Approximations for a Variety of Dynamic Leadtime Lost-Sales Inventory Models
• Inventory Control in a Fluctuating Demand Environment
• Computing Optimal (s, S) Inventory Policies
• On the Opimality of $( {s,S} )$ Inventory Policies: New Conditions and a New Proof
• Bounds on the Solution of the Lagged Optimal Inventory Equation with No Demand Backlogging and Proportional Costs
• The Near-Myopic Nature of the Lagged-Proportional-Cost Inventory Problem with Lost Sales