Good and bad news about the (S, T) policy

This paper studies the optimization of the (S, T) inventory policy, where T is the replenishment interval and S is the order-up-to level. First, we demonstrate that the previously established joint convexity of the long-run average cost is false. Hence, the optimization is not straightforward. We th...

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Bibliographic Details
Main Authors: Liu, Fang, Song, Jing-Sheng
Other Authors: Nanyang Business School
Format: Article
Language:English
Published: 2013
Subjects:
Online Access:https://hdl.handle.net/10356/100791
http://hdl.handle.net/10220/18242
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Institution: Nanyang Technological University
Language: English