Ebook: Markovian Demand Inventory Models
- Tags: Production/Logistics, Probability Theory and Stochastic Processes, Engineering Economics Organization Logistics Marketing, Mathematical Modeling and Industrial Mathematics, Industrial and Production Engineering, Operations Research/De
- Series: International Series in Operations Research & Management Science 108
- Year: 2010
- Publisher: Springer US
- Edition: 1
- Language: English
- pdf
"This book contains the most complete, rigorous mathematical treatment of the classical dynamic inventory model with stochastics demands that I am aware of. Emphasis is placed on a demand structure governed by a discrete time Markov chain. The state of the Markov chain determines the demand distribution for the period in question. Under this more general demand structure, (s,S) ordering policies are still shown to be optimal. The mathematical level is advanced and the book would be most appropriate for a specialized course at the Ph.D. level."
Donald L. Iglehart
Professor Emeritus of Operations Research, Stanford University
"This book provides a comprehensive mathematical presentation of (s,S) inventory models and affords readers thorough coverage of the analytic tools used to establish theoretical results. Markovian demand models are central in the extensive scientific literature on inventory theory, and this volume reviews all the important conceptual developments of the subject."
Harvey M. Wagner
University of North Carolina at Chapel Hill
"Beyer, Cheng, Sethi and Taksar have done a fine job of bringing together many of the central results about this important class of models. The book will be useful to anyone interested in inventory theory."
Paul Zipkin
Duke University
"This book contains the most complete, rigorous mathematical treatment of the classical dynamic inventory model with stochastics demands that I am aware of. Emphasis is placed on a demand structure governed by a discrete time Markov chain. The state of the Markov chain determines the demand distribution for the period in question. Under this more general demand structure, (s,S) ordering policies are still shown to be optimal. The mathematical level is advanced and the book would be most appropriate for a specialized course at the Ph.D. level."
Donald L. Iglehart
Professor Emeritus of Operations Research, Stanford University
"This book provides a comprehensive mathematical presentation of (s,S) inventory models and affords readers thorough coverage of the analytic tools used to establish theoretical results. Markovian demand models are central in the extensive scientific literature on inventory theory, and this volume reviews all the important conceptual developments of the subject."
Harvey M. Wagner
University of North Carolina at Chapel Hill
"Beyer, Cheng, Sethi and Taksar have done a fine job of bringing together many of the central results about this important class of models. The book will be useful to anyone interested in inventory theory."
Paul Zipkin
Duke University
"This book contains the most complete, rigorous mathematical treatment of the classical dynamic inventory model with stochastics demands that I am aware of. Emphasis is placed on a demand structure governed by a discrete time Markov chain. The state of the Markov chain determines the demand distribution for the period in question. Under this more general demand structure, (s,S) ordering policies are still shown to be optimal. The mathematical level is advanced and the book would be most appropriate for a specialized course at the Ph.D. level."
Donald L. Iglehart
Professor Emeritus of Operations Research, Stanford University
"This book provides a comprehensive mathematical presentation of (s,S) inventory models and affords readers thorough coverage of the analytic tools used to establish theoretical results. Markovian demand models are central in the extensive scientific literature on inventory theory, and this volume reviews all the important conceptual developments of the subject."
Harvey M. Wagner
University of North Carolina at Chapel Hill
"Beyer, Cheng, Sethi and Taksar have done a fine job of bringing together many of the central results about this important class of models. The book will be useful to anyone interested in inventory theory."
Paul Zipkin
Duke University
Content:
Front Matter....Pages i-xvi
Front Matter....Pages 1-1
Introduction....Pages 3-18
Front Matter....Pages 19-19
Discounted Cost Models with Backorders....Pages 21-40
Discount Cost Models with Polynomially Growing Surplus Cost....Pages 41-58
Discounted Cost Models with Lost Sales....Pages 59-80
Front Matter....Pages 81-81
Average Cost Models with Backorders....Pages 83-106
Average Cost Models with Polynomially Growing Surplus Cost....Pages 107-131
Average Cost Models with Lost Sales....Pages 133-150
Front Matter....Pages 151-151
Models with Demand Influenced by Promotion....Pages 153-178
Vanishing Discount Approach Versus Stationary Distribution Approach....Pages 179-207
Front Matter....Pages 209-209
Conclusions and Open Research Problems....Pages 211-213
Back Matter....Pages 1-37
"This book contains the most complete, rigorous mathematical treatment of the classical dynamic inventory model with stochastics demands that I am aware of. Emphasis is placed on a demand structure governed by a discrete time Markov chain. The state of the Markov chain determines the demand distribution for the period in question. Under this more general demand structure, (s,S) ordering policies are still shown to be optimal. The mathematical level is advanced and the book would be most appropriate for a specialized course at the Ph.D. level."
Donald L. Iglehart
Professor Emeritus of Operations Research, Stanford University
"This book provides a comprehensive mathematical presentation of (s,S) inventory models and affords readers thorough coverage of the analytic tools used to establish theoretical results. Markovian demand models are central in the extensive scientific literature on inventory theory, and this volume reviews all the important conceptual developments of the subject."
Harvey M. Wagner
University of North Carolina at Chapel Hill
"Beyer, Cheng, Sethi and Taksar have done a fine job of bringing together many of the central results about this important class of models. The book will be useful to anyone interested in inventory theory."
Paul Zipkin
Duke University
Content:
Front Matter....Pages i-xvi
Front Matter....Pages 1-1
Introduction....Pages 3-18
Front Matter....Pages 19-19
Discounted Cost Models with Backorders....Pages 21-40
Discount Cost Models with Polynomially Growing Surplus Cost....Pages 41-58
Discounted Cost Models with Lost Sales....Pages 59-80
Front Matter....Pages 81-81
Average Cost Models with Backorders....Pages 83-106
Average Cost Models with Polynomially Growing Surplus Cost....Pages 107-131
Average Cost Models with Lost Sales....Pages 133-150
Front Matter....Pages 151-151
Models with Demand Influenced by Promotion....Pages 153-178
Vanishing Discount Approach Versus Stationary Distribution Approach....Pages 179-207
Front Matter....Pages 209-209
Conclusions and Open Research Problems....Pages 211-213
Back Matter....Pages 1-37
....