Optimal Policies for Brownian Inventory Systems With a Piecewise Linear Ordering Cost
文献类型：期刊论文
| 作者 | Yao, Dacheng1 ; Chao, Xiuli2; Wu, Jingchen3
|
| 刊名 | IEEE TRANSACTIONS ON AUTOMATIC CONTROL
 |
| 出版日期 | 2017-07-01 |
| 卷号 | 62期号:7页码:3235-3248 |
| 关键词 | Brownian inventory system general ordering cost optimal control (s, S) policy singular control policy |
| ISSN号 | 0018-9286 |
| DOI | 10.1109/TAC.2016.2626790 |
| 英文摘要 | We consider a stochastic inventory system with general piecewise linear ordering cost. The cumulative demand is modeled as a Brownian motion process. The ordering cost function is neither convex nor concave; it may not be monotone; and it is not even necessarily continuous, and it includes most ordering cost functions studied in the literature, e.g., economies-of-scale or dis-economies of scale, all-unit discount or incremental discount, and multiple setup costs, as special cases. In addition to ordering cost, the system incurs the usual holding/shortage cost, and the objective is to minimize the average system cost per unit of time. Despite the complexity in the ordering cost function, we show that an optimal control policy is very simple: it is either an (s, S) policy or a one-sided singular control policy. |
| 资助项目 | National Natural Science Foundation of China[11401566] ; NSF[CMMI-1131249] ; NSF[CMMI-1362619] |
| WOS研究方向 | Automation & Control Systems ; Engineering |
| 语种 | 英语 |
| WOS记录号 | WOS:000404299300010 |
| 出版者 | IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC |
| 源URL | [http://ir.amss.ac.cn/handle/2S8OKBNM/25839]  |
| 专题 | 应用数学研究所 |
| 通讯作者 | Yao, Dacheng |
| 作者单位 | 1.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China 2.Univ Michigan, Dept Ind & Operat Engn, Ann Arbor, MI 48109 USA 3.Univ Michigan, Math Dept, Ann Arbor, MI 48109 USA |
| 推荐引用方式 GB/T 7714 | Yao, Dacheng,Chao, Xiuli,Wu, Jingchen. Optimal Policies for Brownian Inventory Systems With a Piecewise Linear Ordering Cost[J]. IEEE TRANSACTIONS ON AUTOMATIC CONTROL,2017,62(7):3235-3248. |
| APA | Yao, Dacheng,Chao, Xiuli,&Wu, Jingchen.(2017).Optimal Policies for Brownian Inventory Systems With a Piecewise Linear Ordering Cost.IEEE TRANSACTIONS ON AUTOMATIC CONTROL,62(7),3235-3248. |
| MLA | Yao, Dacheng,et al."Optimal Policies for Brownian Inventory Systems With a Piecewise Linear Ordering Cost".IEEE TRANSACTIONS ON AUTOMATIC CONTROL 62.7(2017):3235-3248. |
入库方式： OAI收割
来源：数学与系统科学研究院
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