search query: @author Vickson, R. G. / total: 6
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| Author: | Vickson, R. G. |
| Title: | A single product cycling problem under Brownian motion demand. |
| Journal: | Management Science
1986 : OCT, VOL. 32:10, p. 1336-1345 |
| Index terms: | INVENTORY CONTROL STOCHASTIC PROCESSES |
| Language: | eng |
| Abstract: | A continuous review,single product stochastic cycling problem with demand modelled as a Brownian motion process is discussed. A broad class of production policies is admitted. Control theory is used to show that within this wide class of policies a simple stationary two-number policy is optimal for the average cost minimization problem. Simple methods are developed for obtaining the optimal critical levels numerically. Examples are developed comparing the results with those given by Graves and Keilson for a different demand process having the same mean and variance per unit time. |
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