OPTIMAL-CONTROL POLICY FOR STOCHASTIC INVENTORY SYSTEMS WITH MARKOVIAN DISCOUNT OPPORTUNITIES
成果类型：
Article
署名作者：
ZHENG, YS
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.42.4.721
发表日期：
1994
页码：
721-738
关键词：
摘要：
In this paper, we study a single-item continuous-review inventory system with Poisson demand. In addition to the standard cost structure of a fixed setup cost and a quasiconvex expected inventory holding and shortage cost, special opportunities for placing orders at a discounted setup cost occur according to a Poisson process that is independent of the demand process. This model has been studied as a subproblem of multi-item/location inventory systems where there are economies-of-scale in joint replenishment. For the single-item model, the literature proposes the (s, c, S) policy, under which an order is placed to increase the inventory position to S either when the inventory position drops to s, or when the inventory position is at or below c and a discount opportunity occurs. We prove that the (s, c, S) policy is optimal for the model, develop an efficient algorithm for computing optimal control parameters s*, c*, S*, and carry out a parametric analysis showing the effects of changes in problem parameters on the optimal control parameters and the minimum cost.