Average Cost Single-Stage Inventory Models: An Analysis Using a Vanishing Discount Approach
Published Online:7 Dec 2010https://doi.org/10.1287/opre.1100.0845
References
- Stochastic inventory models with limited production capacity and periodically varying parameters. Probab. Engrg. Inform. Sci. (1997) 11(1):107–135Crossref, Google Scholar
- The value iteration method for countable state Markov decision processes. Oper. Res. Lett. (1999) 24(5):223–234Crossref, Google Scholar
- On the optimal inventory equation. Management Sci. (1955) 2(1):83–104Link, Google Scholar
- Average cost optimality in inventory models with Markovian demands. J. Optim. Theory Appl. (1997) 92(3):497–526Crossref, Google Scholar
- The classical average-cost inventory models of Iglehart and Veinott-Wagner revisited. J. Optim. Theory Appl. (1999) 101(3):523–555Crossref, Google Scholar
- , Boukas E. K., Malhamé R. P. Average cost optimality in inventory models with Markovian demands and lost sales. Analysis, Control and Optimization of Complex Dynamic Systems (2005) (Springer, New York) Crossref, Google Scholar
- Markovian Demand Inventory Models (2008) (Springer, New York) International Series in Operations Research and Management ScienceGoogle Scholar
- Coordinating inventory control and pricing strategies with random demand and fixed ordering cost: The finite horizon case. Oper. Res. (2004a) 52(6):887–896Link, Google Scholar
- Coordinating inventory control and pricing strategies with random demand and fixed ordering cost: The infinite horizon case. Math. Oper. Res. (2004b) 29(3):698–723Link, Google Scholar
- Optimal pricing and inventory control policy in periodic-review systems with fixed ordering cost and lost sales. Naval Res. Logist. (2006) 53(2):117–136Crossref, Google Scholar
- Optimality of state-dependent (s, S) policies in inventory models with Markov-modulated demand and lost sales. Production Oper. Management (1999) 8(2):183–192Crossref, Google Scholar
- Combined pricing and inventory control under uncertainty. Oper. Res. (1999) 47(3):454–475Link, Google Scholar
- An inventory model with limited production capacity and uncertain demands I. The average-cost criterion. Math. Oper. Res. (1986) 11(2):193–207Link, Google Scholar
- Optimality of four-threshold policies in inventory systems with customer returns and borrowing/storage options. Probab. Engrg. Inform. Sci. (2005a) 19(1):45–71Crossref, Google Scholar
- Optimality inequalities for average cost Markov decision processes and the optimality of (s, S) policies. (2005b) . Technical report, Cornell University, Ithaca, NYGoogle Scholar
- Optimality inequalities for average cost Markov decision processes and the stochastic cash balance problem. Math. Oper. Res. (2007) 32(4):769–785Link, Google Scholar
- Capacitated inventory problems with fixed order costs: Some optimal policy structure. Eur. J. Oper. Res. (2000) 126(3):603–613Crossref, Google Scholar
- On the compactness method in general ergodic impulsive control of Markov processes. Stochastics: An Internat. J. Probab. Stochastic Processes (1990) 31(1):15–25Crossref, Google Scholar
- Discrete-Time Markov Control Processes: Basic Optimality Criteria (1996) (Springer-Verlag, New York) Crossref, Google Scholar
- (s, S) optimality in joint inventory-pricing control: An alternate approach. Oper. Res. (2008) 56(3):783–790Link, Google Scholar
- Capacitated multi-echelon inventory systems: Policies and bounds. (2008) . Working paper, University of British Columbia, Vancouver, British Columbia, CanadaGoogle Scholar
- Optimality of (s, S) policies in the infinite horizon dynamic inventory problem. Management Sci. (1963) 9(2):259–267Link, Google Scholar
- A capacitated production-inventory model with periodic demand. (1995) . GSIA working paper, Carnegie Mellon University, PittsburghGoogle Scholar
- A capacitated production-inventory model with periodic demand. Oper. Res. (1998) 46(6):899–911Link, Google Scholar
- Bounds on the solution of the lagged optimal inventory equation with no demand backlogging and proportional costs. SIAM Rev. (1969) 11(4):572–596Crossref, Google Scholar
- Inventory models for substitutable products: Optimal policies and heuristics. Management Sci. (2008) 54(8):1453–1466Link, Google Scholar
- Optimal policies for a capacitated two-echelon inventory system. Oper. Res. (2004) 52(5):739–755Link, Google Scholar
- On the optimality of generalized (s, S) policies. Management Sci. (1971) 17(7):411–426Link, Google Scholar
- The optimality of (s, S) policies for the dynamic inventory problem. Proc. 1st Stanford Sympos. Math. Methods Soc. Sci. (1959) (Stanford University Press, Stanford, CA) Google Scholar
- Average optimality in dynamic programming with general state space. Math. Oper. Res. (1993) 18(1):163–172Link, Google Scholar
- Optimality of (s, S) policies in inventory models with Markovian demand. Oper. Res. (1997) 45(6):931–939Link, Google Scholar
- The infinite horizon periodic review problem with setup costs and capacity constraints: A partial characterization of the optimal policy. Oper. Res. (2004) 52(3):409–421Link, Google Scholar
- X-Y band and modified (s, S) policy. Oper. Res. (1996) 44(6):1013–1019Link, Google Scholar
- Computing optimal (s, S) policies. Management Sci. (1965) 11(5):525–552Link, Google Scholar
- A simple proof of the optimality of (s, S) policies in infinite-horizon inventory systems. J. Appl. Probab. (1991) 28(4):802–810Crossref, Google Scholar
- On the structure of lost-sales inventory models. Oper. Res. (2008) 56(4):937–944Link, Google Scholar

