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A diffusion inventory model for deteriorating items

delete2003-06-01
delete18
PRE
AI
L
Lakdére Benkherouf *
A
Amin Boumenir
L
Lakhdar Aggoun
DOI：10.1016/S0096-3003(02)00097-8delete
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Abstract

Abstract

En 中文
This paper is concerned with finding the optimal impulse control schedule for a stochastic inventory model for deteriorating items that minimizes the total expected discounted cost over an infinite horizon. It turns out that the optimal impulse control policy can be found as a solution of a Quasi-Variational Inequality (QVI) problem of which details are provided. Further, the problem of finding the optimal impulse control policy that minimizes the total expected costs per unit time is addressed. (C) 2002 Elsevier Science Inc. All rights reserved.
Keywords:
inventory control
deteriorating items
diffusion process
impulse control
Quasi-Variational Inequality
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Journal

Applied Mathematics and Computation cover
Applied Mathematics and Computation
IF:
3.4
Papers:
2.3W
Citations:
3.3W

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