ON THE OPTIMALITY OF GENERALIZED (s,S) POLICIES,

Abstract

A standard inventory model is examined with a concave increasing ordering cost function rather than simply a linear one with a setup cost. A generalized (s,S) policy is shown to be optimal in the n-period problem. A generalization of K-convex and quasi-convex functions to quasi-K-convex functions is required in the process. The probability densities of demand must be one sided Polya densities. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1970
Accession Number
AD0700573

Entities

People

  • Evan L. Porteus

Organizations

  • RAND Corporation

Tags

DTIC Thesaurus Topics

  • Inventory
  • Probability
  • Standards

Readers

  • Approximation Theory.
  • Logistics and Supply Chain Management.
  • Operations Research