Markovian Demand Inventory Models

• Main Authors: Beyer, Dirk (Author), Cheng, Feng (Author), Sethi, Suresh P. (Author), Taksar, Michael (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Boston, MA : Springer US, 2010.
• Series: International Series in Operations Research & Management Science, 108
• Subjects: Business.; Production management.; Operations research.; Decision making.; Business mathematics.; Management science.; Probabilities.; Engineering economics.; Engineering economy.; Business and Management.; Business Mathematics.; Operation Research/Decision Theory.; Operations Research, Management Science.; Operations Management.; Probability Theory and Stochastic Processes.; Engineering Economics, Organization, Logistics, Marketing.

"This book contains the most complete, rigorous mathematical treatment of the classical dynamic inventory model with stochastics demands that I am aware of. Emphasis is placed on a demand structure governed by a discrete time Markov chain. The state of the Markov chain determines the demand dis...

Table of Contents:

• I INTRODUCTION
• II DISCOUNTED COST MODELS
• Discounted Cost Models with Backorders
• Discount Cost Models with Polynomially Growing Surplus Cost
• Discounted Cost Models with Lost Sales
• III AVERAGE COST MODELS
• Average Cost Models with Backorders
• Average Cost Models with Polynomially Growing Surplus Cost
• Average Cost Models with Lost Sales
• IV MISCELLANEOUS
• Models with Demand Influenced by Promotion
• Vanishing Discount Approach Versus Stationary Distribution Approach
• V CONCLUSIONS AND OPEN RESEARCH PROBLEMS
• Conclusions and Open Research Problems.