On the optimality of the bayes prediction policy in two‐echelon multistation inventory models

S. Zacks

Naval Research Logistics Quarterly, 1974, vol. 21, issue 4, 569-574

Abstract: The present paper provides a proof that the Bayes prediction ordering policy developed in [3] is an optimal policy, in the sense that it minimizes the total expected discounted cost of ordering for any finite planning horizon.

Date: 1974
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:21:y:1974:i:4:p:569-574

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