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Inventory Control in a Fluctuating Demand Environment

Author

Listed:
  • Jing-Sheng Song

    (Columbia University, New York, New York)

  • Paul Zipkin

    (Columbia University, New York, New York)

Abstract

We present an inventory model, where the demand rate varies with an underlying state-of-the-world variable. This variable can represent economic fluctuations, or stages in the product life-cycle, for example. We derive some basic characteristics of optimal policies and develop algorithms for computing them. In addition, we show that certain monotonicity patterns in the problem data are reflected in the optimal policies.

Suggested Citation

  • Jing-Sheng Song & Paul Zipkin, 1993. "Inventory Control in a Fluctuating Demand Environment," Operations Research, INFORMS, vol. 41(2), pages 351-370, April.
    • Handle: RePEc:inm:oropre:v:41:y:1993:i:2:p:351-370
    DOI: 10.1287/opre.41.2.351
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