On the Optimality of $(s,S)$-Policies in Continuous Review Inventory Models

DOI10.1137/0146054zbMath0648.90021OpenAlexW2008660294WikidataQ114847185 ScholiaQ114847185MaRDI QIDQ3793907

Arie Hordijk, Frank A. Van der Duyn Schouten

Publication date: 1986

Published in: SIAM Journal on Applied Mathematics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1137/0146054

zbMATH Keywords

compound Poisson processdiscrete time approximationinfinite planning horizonaverage costsdisconnected costsexistence of an optimal (s,S)-policyMarkov decision drift processsingle product continuous review inventory model

Mathematics Subject Classification ID

Applications of mathematical programming (90C90) Inventory, storage, reservoirs (90B05) Markov and semi-Markov decision processes (90C40)

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Optimal Inventory Control with Jump Diffusion and Nonlinear Dynamics in the Demand ⋮ A partial replenishment model for an inventory with constant demand ⋮ Unnamed Item

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