Ergodic inventory control with diffusion demand and general ordering costs

doi:10.1016/j.orl.2021.06.007

	Ergodic inventory control with diffusion demand and general ordering costs
	Wei, Bo 2; Yao, Dacheng 1
刊名	OPERATIONS RESEARCH LETTERS
	2021-07-01
卷号	49 期号:4 页码:578-585
关键词	Stochastic inventory model General ordering costs Diffusion process (s, S) policy Impulse control
ISSN号	0167-6377
DOI	10.1016/j.orl.2021.06.007
英文摘要	In this work, we consider a continuous-time inventory system where the demand process follows an inventory-dependent diffusion process. The ordering cost of each order depends on the order quantity and is given by a general function, which is not even necessarily continuous and monotone. By applying a lower bound approach together with a comparison theorem, we show the global optimality of an (s, S) policy for this ergodic inventory control problem. (C) 2021 Elsevier B.V. All rights reserved.
资助项目	National Natural Science Foundation of China[11771432]
WOS研究方向	Operations Research & Management Science
语种	英语
出版者	ELSEVIER
WOS记录号	WOS:000672850500023
内容类型	期刊论文
源URL	[http://ir.amss.ac.cn/handle/2S8OKBNM/58905]
专题	中国科学院数学与系统科学研究院
通讯作者	Yao, Dacheng
作者单位	1.Chinese Acad Sci, Acad Math & Syst Sci, MADIS, CEMS, Beijing 100190, Peoples R China 2.Natl Univ Singapore, Inst Operat Res & Analyt, Singapore 117602, Singapore
推荐引用方式 GB/T 7714	Wei, Bo,Yao, Dacheng. Ergodic inventory control with diffusion demand and general ordering costs[J]. OPERATIONS RESEARCH LETTERS,2021,49(4):578-585.
APA	Wei, Bo,&Yao, Dacheng.(2021).Ergodic inventory control with diffusion demand and general ordering costs.OPERATIONS RESEARCH LETTERS,49(4),578-585.
MLA	Wei, Bo,et al."Ergodic inventory control with diffusion demand and general ordering costs".OPERATIONS RESEARCH LETTERS 49.4(2021):578-585.