KMS Of Academy of mathematics and systems sciences, CAS
Optimal Ordering Policy for Inventory Systems with Quantity-Dependent Setup Costs | |
He, Shuangchi1; Yao, Dacheng2; Zhang, Hanqin3 | |
2017-11-01 | |
发表期刊 | MATHEMATICS OF OPERATIONS RESEARCH |
ISSN | 0364-765X |
卷号 | 42期号:4页码:979-1006 |
摘要 | We consider a continuous-review inventory system in which the setup cost of each order is a general function of the order quantity and the demand process is modeled as a Brownian motion with a positive drift. Assuming the holding and shortage cost to be a convex function of the inventory level, we obtain the optimal ordering policy that minimizes the long-run average cost by a lower bound approach. To tackle some technical issues in the lower bound approach under the quantity-dependent setup cost assumption, we establish a comparison theorem that enables one to prove the global optimality of a policy by examining a tractable subset of admissible policies. Since the smooth pasting technique does not apply to our Brownian inventory model, we also propose a selection procedure for computing optimal policy parameters when the setup cost is a step function. |
关键词 | stochastic inventory model quantity-dependent setup cost (s, S) policy base stock policy impulse control instantaneous control |
DOI | 10.1287/moor.2016.0833 |
语种 | 英语 |
资助项目 | MOE AcRF[R-266-000-086-112] ; NUS Global Asia Institute[R-716-000-006-133] ; National Natural Science Foundation of China[11401566] |
WOS研究方向 | Operations Research & Management Science ; Mathematics |
WOS类目 | Operations Research & Management Science ; Mathematics, Applied |
WOS记录号 | WOS:000414320800004 |
出版者 | INFORMS |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://ir.amss.ac.cn/handle/2S8OKBNM/26860 |
专题 | 应用数学研究所 |
通讯作者 | He, Shuangchi |
作者单位 | 1.Natl Univ Singapore, Dept Ind & Syst Engn, Singapore 117576, Singapore 2.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 3.Natl Univ Singapore, Dept Decis Sci, Singapore 119245, Singapore |
推荐引用方式 GB/T 7714 | He, Shuangchi,Yao, Dacheng,Zhang, Hanqin. Optimal Ordering Policy for Inventory Systems with Quantity-Dependent Setup Costs[J]. MATHEMATICS OF OPERATIONS RESEARCH,2017,42(4):979-1006. |
APA | He, Shuangchi,Yao, Dacheng,&Zhang, Hanqin.(2017).Optimal Ordering Policy for Inventory Systems with Quantity-Dependent Setup Costs.MATHEMATICS OF OPERATIONS RESEARCH,42(4),979-1006. |
MLA | He, Shuangchi,et al."Optimal Ordering Policy for Inventory Systems with Quantity-Dependent Setup Costs".MATHEMATICS OF OPERATIONS RESEARCH 42.4(2017):979-1006. |
条目包含的文件 | 条目无相关文件。 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论