search query: @author Federgruen, A. / total: 37
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| Author: | Zheng, Y-S. Federgruen, A. |
| Title: | Finding optimal (s, S) policies is about as simple as evaluating a single policy. |
| Journal: | Operations Research
1991 : JUL-AUG, VOL. 39:4, p. 654-665 |
| Index terms: | INVENTORY CONTROL |
| Language: | eng |
| Abstract: | In many models of single inventory systems, it is well known that an optimal policy exists within the class of so called /s, S/ policies. Under an /s, S/ policy, an order is placed to increase the item's inventory position to the level S as soon as this inventory position reaches or drops below the level s. A new algorithm is presented for computing an optimal policy that is simple to state, the correctness of which is simple to prove and which is more efficient than the best available alternatives. The computational complexity of the algorithm is only 2.4 times that required to evaluate a single /s, S/ policy. |
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