On properties of discrete (r, q) and (s, T) inventory systems
Publication
, Journal Article
Ang, M; Song, JS; Wang, M; Zhang, H
Published in: European Journal of Operational Research
August 16, 2013
We consider single-item (r, q) and (s, T) inventory systems with integer-valued demand processes. While most of the inventory literature studies continuous approximations of these models and establishes joint convexity properties of the policy parameters in the continuous space, we show that these properties no longer hold in the discrete space, in the sense of linear interpolation extension and Lâ™®-convexity. This nonconvexity can lead to failure of optimization techniques based on local optimality to obtain the optimal inventory policies. It can also make certain comparative properties established previously using continuous variables invalid. We revise these properties in the discrete space. © 2013 Elsevier B.V. All rights reserved.
Duke Scholars
Published In
European Journal of Operational Research
DOI
ISSN
0377-2217
Publication Date
August 16, 2013
Volume
229
Issue
1
Start / End Page
95 / 105
Related Subject Headings
- Operations Research
- 49 Mathematical sciences
- 46 Information and computing sciences
- 40 Engineering
Citation
APA
Chicago
ICMJE
MLA
NLM
Ang, M., Song, J. S., Wang, M., & Zhang, H. (2013). On properties of discrete (r, q) and (s, T) inventory systems. European Journal of Operational Research, 229(1), 95–105. https://doi.org/10.1016/j.ejor.2013.02.054
Ang, M., J. S. Song, M. Wang, and H. Zhang. “On properties of discrete (r, q) and (s, T) inventory systems.” European Journal of Operational Research 229, no. 1 (August 16, 2013): 95–105. https://doi.org/10.1016/j.ejor.2013.02.054.
Ang M, Song JS, Wang M, Zhang H. On properties of discrete (r, q) and (s, T) inventory systems. European Journal of Operational Research. 2013 Aug 16;229(1):95–105.
Ang, M., et al. “On properties of discrete (r, q) and (s, T) inventory systems.” European Journal of Operational Research, vol. 229, no. 1, Aug. 2013, pp. 95–105. Scopus, doi:10.1016/j.ejor.2013.02.054.
Ang M, Song JS, Wang M, Zhang H. On properties of discrete (r, q) and (s, T) inventory systems. European Journal of Operational Research. 2013 Aug 16;229(1):95–105.
Published In
European Journal of Operational Research
DOI
ISSN
0377-2217
Publication Date
August 16, 2013
Volume
229
Issue
1
Start / End Page
95 / 105
Related Subject Headings
- Operations Research
- 49 Mathematical sciences
- 46 Information and computing sciences
- 40 Engineering