Abstract
A stochastic model from inventory theory accounting for merchandize return and end-of-season sale is analyzed. The model demonstrates the advantages of the cost and reliability approaches. The optimal and asymptotic optimal control strategies are constructed, the distributions of the input and output processes being assumed known.
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The study was partially sponsored by RFFI, grants Nos. 03-01-00724 and NSh.1758.2003.1.
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Translated from Kibernetika i Sistemnyi Analiz, No. 1, pp. 69–81, January–February 2005.
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Bulinskaya, E.V. Cost and Reliability Approaches in Inventory Theory. Cybern Syst Anal 41, 56–66 (2005). https://doi.org/10.1007/s10559-005-0041-8
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DOI: https://doi.org/10.1007/s10559-005-0041-8