Average Cost Optimality in Partially Observed Lost-Sales Inventory Systems

2021 ◽  
Author(s):  
Xingyu Bai ◽  
Xin Chen ◽  
Alexander Stolyar
Keyword(s):  
Average Cost ◽  
Inventory Systems ◽  
Lost Sales ◽  
Partially Observed ◽  
Cost Optimality

scholarly journals Explicit Solution of the Average-Cost Optimality Equation for a Pest-Control Problem

2011 ◽  
Vol 2011 ◽  
pp. 1-11
Author(s):  
Epaminondas G. Kyriakidis
Keyword(s):  
Optimal Control ◽  
Markov Decision Process ◽  
Pest Control ◽  
Continuous Time ◽  
Decision Process ◽  
Average Cost ◽  
Optimality Equation ◽  
Markov Decision ◽  
Average Cost Optimality Equation ◽  
Cost Optimality

We introduce a Markov decision process in continuous time for the optimal control of a simple symmetrical immigration-emigration process by the introduction of total catastrophes. It is proved that a particular control-limit policy is average cost optimal within the class of all stationary policies by verifying that the relative values of this policy are the solution of the corresponding optimality equation.

Service Constrained (s,S) Inventory Systems with Priority Demand Classes and Lost Sales

1988 ◽  
Vol 34 (4) ◽  
pp. 482-499 ◽  
Author(s):  
Morris A. Cohen ◽  
Paul R. Kleindorfer ◽  
Hau L. Lee
Keyword(s):  
Inventory Systems ◽  
Lost Sales ◽  
Demand Classes

scholarly journals (s, S) Inventory systems with lost sales and Markov renewal demands

1989 ◽  
Vol 12 (12) ◽  
pp. 1511-1520 ◽  
Author(s):  
S. Kalpakam ◽  
G. Arivarignan
Keyword(s):  
Inventory Systems ◽  
Lost Sales
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