New bounds of (s,S) policies in periodical review inventory systems

New bounds of (s,S) policies in periodical review inventory systems

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摘要 We study the stochastic inventory problem with optimal （s,S） policies.In a finite horizon model with lost sales,we establish new lower and upper bounds of s and S.These bounds have structural implications for the optimal solutions.Consequently,when demand has a generalized phase type distribution,there are no more than a pre-determined number of minima.Similar bounds can also be found for the system where unsatisfied demand is backordered instead of lost sales. We study the stochastic inventory problem with optimal （s,S） policies.In a finite horizon model with lost sales,we establish new lower and upper bounds of s and S.These bounds have structural implications for the optimal solutions.Consequently,when demand has a generalized phase type distribution,there are no more than a pre-determined number of minima.Similar bounds can also be found for the system where unsatisfied demand is backordered instead of lost sales.

作者徐燕翼

机构地区 School of Management

出处《Journal of Shanghai University(English Edition)》 CAS 2010年第2期111-115,共5页 上海大学学报（英文版）

基金 supported by the Shanghai Excellent Junior Faculty Foundation

关键词 inventory control （s S） policies generalized phase type distribution lost sales inventory control, （s, S） policies, generalized phase type distribution, lost sales

分类号 O227 [理学—运筹学与控制论] F713.3 [经济管理—产业经济]

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Journal of Shanghai University(English Edition)

2010年第2期

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New bounds of (s,S) policies in periodical review inventory systems

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