Optimality of (s,S) Policies When Setup Costs Vary

Authors

Richard V. Evans

Document Type

Report

Publication Date

8-1-1968

Abstract

This paper considers several analyses of the dynamic programming problem associated with an inventory system in which there is a setup cost which is a decreasing function of the inventory before ordering. Conditions are given under which the optimal policy is of the (s,S) form.

Keywords

Operations research, Mathematical optimization, Inventory control, Dynamic programming

Publication Title

Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University

Issue

Technical memorandum no. 117

Rights

This work is in the public domain and may be freely downloaded for personal or academic use

Recommended Citation

Evans, Richard V., "Optimality of (s,S) Policies When Setup Costs Vary" (1968). Research Reports from the Department of Operations. 401.
https://commons.case.edu/wsom-ops-reports/401