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Markovian demand inventory models. (English) Zbl 1222.90001
International Series in Operations Research & Management Science 108. New York, NY: Springer (ISBN 978-0-387-71603-9/hbk; 978-0-387-71604-6/ebook). xx, 253 p. (2010).
Publisher’s description: This text provides a superbly researched insight into Markovian demand inventory models. The result of ten years of research, this work covers all aspects of demand inventory where they are modeled by Markov processes. Inventory management is concerned with matching supply with demand and is a central problem in Operations Management. The central problem is to find the amount to be produced or purchased in order to maximize the total expected profit, or minimize the total expected cost.

MSC:
90-02 Research exposition (monographs, survey articles) pertaining to operations research and mathematical programming
90B05 Inventory, storage, reservoirs
60K20 Applications of Markov renewal processes (reliability, queueing networks, etc.)
90C39 Dynamic programming
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