Optimal Inventory Policies in Perturbed Demand Models

B. L. Schwartz
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B. L. Schwartz: The MITRE Corporation

Management Science, 1970, vol. 16, issue 8, B509-B518

Abstract: Investigation is continued of inventory models in which customer good will is lost when stockout occurs. Several models are formulated and optimal policies for the firm are derived conceptually (i.e., algebraic equations satisfied by the optimal parameter values are determined). Both constant and distributed demand are considered, and it is shown that the same formulation applies to both.

Date: 1970
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