Titlebook: Markovian Demand Inventory Models; Dirk Beyer,Feng Cheng,Michael Taksar Book 2010 Springer-Verlag US 2010 (s,S) policy.Analysis.Inventory

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Vanishing Discount Approach Versus Stationary Distribution Approachical inventory literature, a stationary distribution approach is often used to minimize the long-run average cost. In this approach, the stationary distribution of the inventory levels is obtained for a specific class of policies, the best policy in this class is found, and then it is proven that th

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Conclusions and Open Research Problems being independent over time in the inventory literature. By associating the demand process with an underlying Markov chain, we are able to capture the effect of environmental factors that influence the demand process. Although the modeling capability is significantly enhanced by the incorporation o

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0884-8289 h inventory models where these world events are modeled by Markov processes. Their research on Markovian demand inventory models was carried out over a period of ten years beginning in the early nineties..978-1-4614-2466-6978-0-387-71604-6Series ISSN 0884-8289 Series E-ISSN 2214-7934

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Dirk Beyer,Feng Cheng,Suresh P. Sethi,Michael Taksar

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Dirk Beyer,Feng Cheng,Suresh P. Sethi,Michael Taksar