English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

This paper considers the stochastic, single-item, periodic review inventory problem. Most importantly we assume a finite production capacity per period and a production cost function containing a fixed as well as a variable component. With stationary data, a convex expected holding and shortage cost function, we show that generally the modified s, S policy is not optimal to the finite horizon problems. The optimal policy does, however, show a systematic pattern which we call the X-Y band structure. This X-Y band policy is interpreted as follows: whenever the inventory level drops below X, order up to capacity; when the inventory level is above Y, do nothing; if the inventory level is between X and Y, however, the ordering pattern is different from problem to problem. Although the X and Y bounds may change from period to period, we prove the existence of a pair of finite X and Y values that can apply for all the periods i.e., bounds on individual bounds. One calculation for such X and Y bounds that are tight in some cases is also provided. By exploring the X-Y band structure, we can drastically reduce the computation effort for finding the optimal policies.

X-Y Band and Modified (s, S) Policy