Optimality of (s, S) policies in inventory models with Markovian demand
成果类型：
Article
署名作者：
Sethi, SP; Cheng, F
署名单位：
University of Texas System; University of Texas Dallas; International Business Machines (IBM); IBM USA
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.45.6.931
发表日期：
1997
页码：
931-939
关键词：
摘要：
This paper is concerned with a generalization of classical inventory models (with fixed ordering costs) that exhibit (s, S) policies. In our model, the distribution of demands in successive periods is dependent on a Markov chain. The model includes the case of cyclic or seasonal demand. The model is further extended to incorporate some other realistic features such as no ordering periods and storage and service level constraints. Both finite and infinite horizon nonstationary problems are considered. We show that (s, S) policies are also optimal for the generalized model as well as its extensions.