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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Main Authors: | Liu, Fang, Song, Jing-Sheng |
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Other Authors: | Nanyang Business School |
Format: | Article |
Language: | English |
Published: |
2013
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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 |
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