Skip to main content
SpringerLink
Log in

Optimal Strategies for Inventory Control Systems with a Convex Cost Function

  • Published:
Cybernetics and Systems Analysis Aims and scope

Abstract

Some controlled Markovian processes in discrete time in the context of optimization of inventory control systems are studied. Optimality of (s, S)-policies for the case of convex cost functions is proved using theorems on existence and uniqueness of a nonrandomized stationary optimal policy for Markovian processes with discrete time and a continuous control set for criteria characterizing mean costs per unit time and overestimated total costs and Bellman equations.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Similar content being viewed by others

REFERENCES

  1. H. Daduna, P. S. Knopov, and L. P. Tur, “Optimal strategies for an inventory system with cost functions of general form,” Kibern. Sist. Anal., No. 4, 106-123 (1999).

  2. L. G. Gubenko and E. S. Statland, “On controlled Markov processes in discrete time,” Theor. Probab. Math. Stat., 7, 47-61 (1975).

    Google Scholar 

  3. G. Headly and T. M. Whitin, Analysis of Inventory Systems, Prentice Hall, Englewood Cliffs (1963).

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Cybernetics Institute, National Academy of Sciences of Ukraine, Kiev, Ukraine

    S. S. Demchenko, A. P. Knopov & V. A. Pepelyaev

Authors
  1. S. S. Demchenko
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. A. P. Knopov
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. V. A. Pepelyaev
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and permissions

About this article

Cite this article

Demchenko, S.S., Knopov, A.P. & Pepelyaev, V.A. Optimal Strategies for Inventory Control Systems with a Convex Cost Function. Cybernetics and Systems Analysis 36, 891–897 (2000). https://doi.org/10.1023/A:1009413511883

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1023/A:1009413511883

Search

Navigation