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Reports (Research Report) Year : 2011

Critical level policies in lost sales inventory systems with different demand classes

Abstract

We consider a single-item lost sales inventory model with different classes of customers. Each customer class may have different lost sale penalty costs. We assume that the demands follow a Poisson process and we consider a single replenishment hypoexponential server. We give a Markov decision process associated with this optimal control problem and prove some structural properties of its dynamic programming operator. This allows us to show that the optimal policy is a critical level policy. We then discuss some possible extensions to other replenishment distributions and give some numerical results for the hyperexponential server case.
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Dates and versions

inria-00620243 , version 1 (07-09-2011)

Identifiers

  • HAL Id : inria-00620243 , version 1

Cite

Aleksander Wieczorek, Ana Bušić, Emmanuel Hyon. Critical level policies in lost sales inventory systems with different demand classes. [Research Report] RR-7732, INRIA. 2011. ⟨inria-00620243⟩
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