New structural properties of (s,S) policies for inventory models with lost sales

Yanyi Xu; Arnab Bisi; Maqbool Dada

doi:10.1016/j.orl.2010.06.003

New structural properties of (s,S) policies for inventory models with lost sales

Yanyi Xu, Arnab Bisi, Maqbool Dada

Carey Business School

Research output: Contribution to journal › Article › peer-review

9 Scopus citations

Abstract

We revisit the classical inventory model for which (s,S) policies are optimal. We consider the finite and infinite horizon versions of the lost sales problem. New structural properties are developed for the optimal policy and cost function. These properties are then used to develop computational schemes for the lost sales problem with Erlang demands.

Original language	English (US)
Pages (from-to)	441-449
Number of pages	9
Journal	Operations Research Letters
Volume	38
Issue number	5
DOIs	https://doi.org/10.1016/j.orl.2010.06.003
State	Published - Sep 2010

Keywords

(s,S) policies
Inventory
Lost sales

ASJC Scopus subject areas

Software
Management Science and Operations Research
Industrial and Manufacturing Engineering
Applied Mathematics

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10.1016/j.orl.2010.06.003

Cite this

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title = "New structural properties of (s,S) policies for inventory models with lost sales",

abstract = "We revisit the classical inventory model for which (s,S) policies are optimal. We consider the finite and infinite horizon versions of the lost sales problem. New structural properties are developed for the optimal policy and cost function. These properties are then used to develop computational schemes for the lost sales problem with Erlang demands.",

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AB - We revisit the classical inventory model for which (s,S) policies are optimal. We consider the finite and infinite horizon versions of the lost sales problem. New structural properties are developed for the optimal policy and cost function. These properties are then used to develop computational schemes for the lost sales problem with Erlang demands.

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New structural properties of (s,S) policies for inventory models with lost sales

Abstract

Keywords

ASJC Scopus subject areas

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