Optimal stationary (s,S) inventory policies for stochastically convergent demand sequences Public Deposited

http://ir.library.oregonstate.edu/concern/graduate_thesis_or_dissertations/wh246v899

Descriptions

Attribute NameValues
Creator
Abstract or Summary
  • In a discrete review inventory process, when the demand forms a stochastically convergent sequence of random variables, it seems reasonable that the optimal stationary (s, S) inventory policy will be a function of the limiting demand and cost structure only. The intent of this paper is to provide a rigorous justification of this conjecture under suitable restrictions. Assuming linear costs and integer valued demand, the problem is essentially reduced to showing the existence and finding an expression for the stationary inventory distribution. The stationary inventory distribution, with an (s,S) policy in effect, is derived by applying renewal theory to the inventory process with renewals defined as those periods in which a positive amount is ordered. For this purpose a version of the key renewal theorem for stochastically convergent sequences is proved and formulated in terms of integrals. The integral formulation is used to derive the stationary distribution of the excess variable and the stationary probability that a renewal will occur, or equivalently, that an order will be placed.
Resource Type
Date Available
Date Copyright
Date Issued
Degree Level
Degree Name
Degree Field
Degree Grantor
Commencement Year
Advisor
Academic Affiliation
Non-Academic Affiliation
Subject
Rights Statement
Language
Digitization Specifications
  • File scanned at 300 ppi (Monochrome) using Capture Perfect 3.0.82 on a Canon DR-9080C in PDF format. CVista PdfCompressor 4.0 was used for pdf compression and textual OCR.
Replaces
Additional Information
  • description.provenance : Submitted by Nitin Mohan (mohanni@onid.orst.edu) on 2010-07-26T20:44:07Z No. of bitstreams: 1 McCoyMichaelFranklin1968.pdf: 637810 bytes, checksum: fbbc63841e96eedbed236f397e1f5584 (MD5)
  • description.provenance : Made available in DSpace on 2010-07-29T16:48:37Z (GMT). No. of bitstreams: 1 McCoyMichaelFranklin1968.pdf: 637810 bytes, checksum: fbbc63841e96eedbed236f397e1f5584 (MD5)
  • description.provenance : Approved for entry into archive by Patricia Black(patricia.black@oregonstate.edu) on 2010-07-29T16:47:00Z (GMT) No. of bitstreams: 1 McCoyMichaelFranklin1968.pdf: 637810 bytes, checksum: fbbc63841e96eedbed236f397e1f5584 (MD5)
  • description.provenance : Approved for entry into archive by Patricia Black(patricia.black@oregonstate.edu) on 2010-07-29T16:48:37Z (GMT) No. of bitstreams: 1 McCoyMichaelFranklin1968.pdf: 637810 bytes, checksum: fbbc63841e96eedbed236f397e1f5584 (MD5)

Relationships

Parents:

This work has no parents.

Last modified

Downloadable Content

Download PDF

Items