Ergodic inventory control with diffusion demand and general ordering costs

doi:10.1016/j.orl.2021.06.007

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	Ergodic inventory control with diffusion demand and general ordering costs
	Wei, Bo 1; Yao, Dacheng2
	2021-07-01
发表期刊	OPERATIONS RESEARCH LETTERS
ISSN	0167-6377
卷号	49 期号:4 页码:578-585
摘要	In this work, we consider a continuous-time inventory system where the demand process follows an inventory-dependent diffusion process. The ordering cost of each order depends on the order quantity and is given by a general function, which is not even necessarily continuous and monotone. By applying a lower bound approach together with a comparison theorem, we show the global optimality of an (s, S) policy for this ergodic inventory control problem. (C) 2021 Elsevier B.V. All rights reserved.
关键词	Stochastic inventory model General ordering costs Diffusion process (s, S) policy Impulse control
DOI	10.1016/j.orl.2021.06.007
收录类别	SCI
语种	英语
资助项目	National Natural Science Foundation of China[11771432]
WOS研究方向	Operations Research & Management Science
WOS类目	Operations Research & Management Science
WOS记录号	WOS:000672850500023
出版者	ELSEVIER
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/58906
专题	应用数学研究所
通讯作者	Yao, Dacheng
作者单位	1.Natl Univ Singapore, Inst Operat Res & Analyt, Singapore 117602, Singapore 2.Chinese Acad Sci, Acad Math & Syst Sci, MADIS, CEMS, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Wei, Bo,Yao, Dacheng. Ergodic inventory control with diffusion demand and general ordering costs[J]. OPERATIONS RESEARCH LETTERS,2021,49(4):578-585.
APA	Wei, Bo,&Yao, Dacheng.(2021).Ergodic inventory control with diffusion demand and general ordering costs.OPERATIONS RESEARCH LETTERS,49(4),578-585.
MLA	Wei, Bo,et al."Ergodic inventory control with diffusion demand and general ordering costs".OPERATIONS RESEARCH LETTERS 49.4(2021):578-585.