Markovian Demand Inventory Models

• Main Authors: Beyer, Dirk. (Author), Cheng, Feng. (Author), Sethi, Suresh P. (Author), Taksar, Michael. (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic
• Language: English
• Published: Boston, MA : Springer US, 2010.
• Series: International Series in Operations Research & Management Science, 108
• Subjects: Economics.; Distribution (Probability theory).; Industrial engineering.; Engineering economy.; Business logistics.; Economics/Management Science.; Production/Logistics.; Probability Theory and Stochastic Processes.; Engineering Economics, Organization, Logistics, Marketing.; Mathematical Modeling and Industrial Mathematics.; Industrial and Production Engineering.; Operations Research/Decision Theory.
• Online Access: https://ezaccess.library.uitm.edu.my/login?url=http://dx.doi.org/10.1007/978-0-387-71604-6

"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 dis...

Table of Contents:

• Introduction
• Discounted Cost Models with Backorders
• Discount Cost Models with Polynomially Growing Surplus Cost
• Discounted Cost Models with Lost Sales
• Average Cost Models with Backorders
• Average Cost Models with Polynomially Growing Surplus Cost
• Average Cost Models with Lost Sales
• Models with Demand Influenced by Promotion
• Vanishing Discount Approach vs. Stationary Distribution Approach
• Conclusions and Open Research Problems
• Analysis
• Probability
• Convex, Quasi-Convex and K-Convex Functions
• References
• Copyright Permissions
• Author Index
• Subject Index.