Multiple (s, S) Policies and the n-Period Inventory Problem

Edward S. Boylan
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Edward S. Boylan: Hunter College in the Bronz (City University of New York)

Management Science, 1967, vol. 14, issue 3, 196-204

Abstract: In a previous paper the concept of a multiple (s, S, policy, generalizing the well-known (s, S) policy, was introduced, and it was shown that for a broad class of situations some multiple (s, S) policy would minimize costs when a single decision was to be made whether or not to order goods to add to inventory. In the present paper it is shown that when n such decisions must be made, some multiple (s, S) policy will minimize total (discounted) costs, though under slightly more restrictive conditions.

Date: 1967
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:14:y:1967:i:3:p:196-204

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