Infinite horizon optimal policy for an inventory system with two types of product sharing common hardware platforms

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• 作者：Mabel C. Chou^a ; ^{bizchoum@nus.edu.sg} ; Chee-Khian Sim^b ; ^{chee-khian.sim@port.ac.uk} ; Xue-Ming Yuan^c ; ^{xmyuan@SIMTech.a-star.edu.sg}
• 关键词：Dynamic programming ; Inventory control ; Lateral transshipment ; Optimal policy ; Variational analysis
• 刊名：Operations Research Letters
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：45
• 期：1
• 页码：12-18
• 全文大小：406 K
• 卷排序：45

文摘

We consider a periodic review inventory system and present its optimal policy in the infinite horizon setting. The optimal inventory policy that maximizes the infinite horizon expected discounted profit for the model is analytically obtained by relating to the finite horizon setting using results from variational analysis. Results are provided that elucidate the operations of the inventory system in the long run.