Technical Note—A Dynamic Programming Formulation for Continuous Time Stock Control Systems | Zendy

Ralph D. Snyder | Zendy

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Technical Note—A Dynamic Programming Formulation for Continuous Time Stock Control Systems

Author(s) -

Ralph D. Snyder

Publication year - 1975

Publication title -

operations research

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 3.797

H-Index - 140

eISSN - 1526-5463

pISSN - 0030-364X

DOI - 10.1287/opre.23.2.383

Subject(s) - dynamic programming , computer science , discrete time and continuous time , mathematical optimization , optimal control , contrast (vision) , mathematics , statistics , artificial intelligence

Continuous review stock systems are considered in this paper. They are modeled using discrete time dynamic programming, which in contrast to previous continuous time formulations of the problem, yields a reasonable algorithm for computational purposes. The model is used to establish the optimal forms of stationary ordering policies under various cost assumptions.

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