On the Optimality of (σ, S) Policies

DOI10.1287/MOOR.5.2.293MaRDI QIDQ3885474zbMATH OpenOpenAlexFDO

Authors Dieter Kalin

Publication date 1980

Published in Mathematics of Operations Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1287/moor.5.2.293

zbMATH Keywords

dynamic programminginfinite horizonfinite horizonsetup costsufficient existence conditionsexistence of an optimal policyordering costgeneralization of quasi-convex functionsoptimality of (sigma,S) policiesperiodic review stochastic dynamic multiproduct inventory model

Mathematics Subject Classification ID

Dynamic programming (90C39) Inventory, storage, reservoirs (90B05)

Cited in

(10)

• A new algorithm for a multi-item periodic review inventory system
• Optimality of (σS)-type policies for a stationary multi-product inventory model with a canonical diffusion process as demand process
• Two-product inventory management with fixed costs and supply uncertainty
• Stochastic multiproduct inventory models with limited storage
• Optimal policies in multiproduct inventory models
• Optimal inventory policies for a two-dimensional stochastic inventory model: a numerical investigation
• The optimal order policy for a capacitated multiple product inventory system under symmetry
• A lower bound on a class of coordinated inventory/production problems
• Multiple items procurement under stochastic nonstationary demands
• \(\mathcal{K}\)-convexity in \(\mathbb R^n\)

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