Beyer, Dirk; Cheng, Feng; Sethi, Suresh; Taksar, Michael I. - 2010
Business environments change over time. They are cyclic, show seasonality or just evolve over time. This is certainly … at best. Yet, most classical stochastic inventory models make this very assumption. This volume is the first to provide a … comprehensive treatment of inventory models with Markov-modulated demand. The distribution of demand in these models depends on the …