Note: Optimality Conditions for an (s, S) Policy with Proportional and Lump-Sum Penalty Costs
نویسندگان
چکیده
منابع مشابه
OPTIMALITY OF AN (s, S) POLICY WITH COMPOUND POISSON AND DIFFUSION DEMANDS: A QVI APPROACH
Abstract: We prove that an (S, S) policy is optimal in a continuous-review stochastic inventory model with a fixed ordering cost when the demand is (i) a diffusion process and a compound Poisson process with exponentially distributed jump sizes, and (ii) a mixture of a constant demand and a compound Poisson process. The proof uses the theory of impulse control. The Bellman equation of dynamic p...
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ژورنال
عنوان ژورنال: Management Science
سال: 2002
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.48.12.1635.443