Please use this identifier to cite or link to this item: https://doi.org/10.1016/S0377-2217(02)00256-4
Title: A dynamic analysis of the single-item periodic stochastic inventory system with order capacity
Authors: Chan, G.H. 
Song, Y.
Keywords: (α,β)-Convexity
Dynamic programming
Stochastic inventory system
Issue Date: 1-May-2003
Citation: Chan, G.H., Song, Y. (2003-05-01). A dynamic analysis of the single-item periodic stochastic inventory system with order capacity. European Journal of Operational Research 146 (3) : 529-542. ScholarBank@NUS Repository. https://doi.org/10.1016/S0377-2217(02)00256-4
Abstract: Consider a single-item periodic review stochastic inventory system with positive setup cost and finite order capacity. Chen and Lambrecht [Operations Research 44 (1996) 1013] showed that the optimal policy has a systematic pattern called the X-Y band structure. However there is no clear pattern for inventory positions between X and Y. Some properties of the optimal order policy are provided when the inventory position falls between X and Y. As a consequence of the analysis, an efficient algorithm is provided to compute the optimal ordering policy parameters. © 2002 Elsevier Science B.V. All rights reserved.
Source Title: European Journal of Operational Research
URI: http://scholarbank.nus.edu.sg/handle/10635/102637
ISSN: 03772217
DOI: 10.1016/S0377-2217(02)00256-4
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