On the optimality of (s, S)-strategies in a minimax inventory model with average cost criterion

1 January 1991

journal article
research article
Published by Taylor & Francis in Optimization

Vol. 22 (1) , 123-138
https://doi.org/10.1080/02331939108843651

Abstract

A stochastic dynamic inventory problem is considered in which the distribution function of the demand and the holding and shortage cost depend on an unknown parameter. This problem is interpreted as a Markov game with complete information, It is shown that for the average cost criterion as for the discounted cost criterion an optimal (s, S)-strategy exists. Bounds for the parameters of such a strategy are given.

Keywords

This publication has 4 references indexed in Scilit:

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