Technical Note-On the Quasiconcavity of Lost-Sales Inventory Models with Fixed Costs

• 成果类型: Article
• 署名作者: Li, Qing; Yu, Peiwen
• 署名单位: Hong Kong University of Science & Technology
• 刊物名称: OPERATIONS RESEARCH
• ISSN/ISSBN: 0030-364X
• DOI: 10.1287/opre.1110.1034
• 发表日期: 2012
• 页码: 286-291
• 关键词: Optimal policy; optimality; systems

摘要

We show that under a set of conditions, both the maximal profit function and the objective function in several lost-sales inventory models with fixed costs are quasiconcave. Not only is the quasiconcavity property useful computationally, it also leads to a sharper characterization of the optimal policies. Neither the proof of the quasiconcavity property itself nor the proof of the optimal policies by using the property requires the machinery of K-concavity or any of its K-related extensions, and hence they are intuitively appealing.