We revisit the classical dynamic inventory management problem of Scarf (1959) from the perspective of a decision-maker who has n historical selling seasons of data and must make ordering decisions for the upcoming season. We develop a nonparametric estimation procedure for the (S, s) policy that...

This paper studies stochastic inventory problems with unbounded Markovian demands, ordering costs that are lower semicontinuous, and inventory/backlog (or surplus) costs that are lower semicontinuous with polynomial growth. Finite-horizon problems, stationary and nonstationary discounted-cost...

Managers always want to decrease the cost of the inventory system and increase the customers’ satisfaction. To access to the mentioned aim they should notice the different aspects of their inventory system to become successful in today competitive global marketing. In this research we model...