Asymptotic behavior of the total cost function for dynamic inventory processes.
ResearchPublished 1960
A paper which demonstrates a relationship between inventory control problem solutions obtained in the steady-state approach and those by the functional equation route. Under certain conditions on the cost functions, the average cost per stage of an N-stage inventory process, using an optimal ordering policy, converges as N goes to infinity to a constant that is the minimum steady-state cost per stage for policies determined by a single parameter.
Document Details
- Copyright: RAND Corporation
- Availability: Available
- Year: 1960
- Print Format: Paperback
- Paperback Pages: 16
- Paperback Price: $15.00
- Document Number: P-2207
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Iglehart, Donald L., Asymptotic behavior of the total cost function for dynamic inventory processes. RAND Corporation, P-2207, 1960. As of September 24, 2024: https://www.rand.org/pubs/papers/P2207.html
Iglehart, Donald L., Asymptotic behavior of the total cost function for dynamic inventory processes. Santa Monica, CA: RAND Corporation, 1960. https://www.rand.org/pubs/papers/P2207.html. Also available in print form.
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