Control of Inventories with Markov Demand
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review
Author(s)
Detail(s)
| Original language | English |
|---|---|
| Title of host publication | Springer Proceedings in Mathematics and Statistics |
| Publisher | Springer New York LLC |
| Pages | 29-55 |
| Volume | 22 |
| ISBN (print) | 9783642299810 |
| Publication status | Published - 2012 |
| Externally published | Yes |
Publication series
| Name | |
|---|---|
| Volume | 22 |
| ISSN (Print) | 2194-1009 |
| ISSN (electronic) | 2194-1017 |
Conference
| Title | 9th Workshop on Stochastic Analysis and Related Topics |
|---|---|
| Place | France |
| City | Paris |
| Period | 14 - 15 June 2010 |
Link(s)
Abstract
We consider inventory control problems in discrete time. The horizon is infinite, and we consider discounted payoffs as well nondiscounted payoffs (ergodic control). We may have backlog or not. We may have set-up costs or not. In the traditional framework, the demand is modeled as a sequence of i.i.d. random variables. The ordering strategy is given by a base stock policy or an s, S policy, whether or not there is a set-up cost. We consider here the situation when the demand is modeled by a Markov chain. We show how the base stock policy and the s, S policy can be extended. © Springer-Verlag Berlin Heidelberg 2012.
Citation Format(s)
Control of Inventories with Markov Demand. / Bensoussan, Alain.
Springer Proceedings in Mathematics and Statistics. Vol. 22 Springer New York LLC, 2012. p. 29-55.
Springer Proceedings in Mathematics and Statistics. Vol. 22 Springer New York LLC, 2012. p. 29-55.
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review
