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Optimality of policy in a general inventory-pricing model with uniform demands

โœ Scribed by Zhiyuan Chen; Yi Yang

Publisher
Elsevier Science
Year
2010
Tongue
English
Weight
271 KB
Volume
38
Category
Article
ISSN
0167-6377

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A two-station stochastic inventory model
A two-station stochastic inventory model with exact methods of computing optimal policies
โœ Robert F. Love ๐Ÿ“‚ Article ๐Ÿ“… 1967 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 958 KB

A method i s presented for calculating optimal inventory levels in a two-station transactions reporting inventory system. The c r i t e r i o n of optimality i s the minimization of expected cost. The computational properties of the model a r e s t r e s s e d and the solution method is precise.