EFFICIENT ALGORITHM FOR COMPUTING OPTIMAL (s, S) POLICIES.
Publication
, Journal Article
Federgruen, A; Zipkin, P
Published in: Operations Research
1984
An algorithm is presented to compute an optimal (s, S) policy under standard assumptions (stationary data, well-behaved one-period costs, discrete demand, full backlogging, and the average-cost criterion). The method is iterative, starting with an arbitrary, given (s, S) policy and converging to an optimal policy in a finite number of iterations. Any of the available approximations can thus be used as an initial solution. Each iteration requires only modest computations. Also, a lower bound on the the true optimal cost can be computed and used in a termination test. Empirical testing suggests very fast convergence.
Duke Scholars
Published In
Operations Research
Publication Date
1984
Volume
32
Issue
6
Start / End Page
1268 / 1285
Related Subject Headings
- Operations Research
- 1503 Business and Management
- 0802 Computation Theory and Mathematics
- 0102 Applied Mathematics
Citation
APA
Chicago
ICMJE
MLA
NLM
Federgruen, A., & Zipkin, P. (1984). EFFICIENT ALGORITHM FOR COMPUTING OPTIMAL (s, S) POLICIES. Operations Research, 32(6), 1268–1285.
Federgruen, A., and P. Zipkin. “EFFICIENT ALGORITHM FOR COMPUTING OPTIMAL (s, S) POLICIES.” Operations Research 32, no. 6 (1984): 1268–85.
Federgruen A, Zipkin P. EFFICIENT ALGORITHM FOR COMPUTING OPTIMAL (s, S) POLICIES. Operations Research. 1984;32(6):1268–85.
Federgruen, A., and P. Zipkin. “EFFICIENT ALGORITHM FOR COMPUTING OPTIMAL (s, S) POLICIES.” Operations Research, vol. 32, no. 6, 1984, pp. 1268–85.
Federgruen A, Zipkin P. EFFICIENT ALGORITHM FOR COMPUTING OPTIMAL (s, S) POLICIES. Operations Research. 1984;32(6):1268–1285.
Published In
Operations Research
Publication Date
1984
Volume
32
Issue
6
Start / End Page
1268 / 1285
Related Subject Headings
- Operations Research
- 1503 Business and Management
- 0802 Computation Theory and Mathematics
- 0102 Applied Mathematics