Statistics Seminar, "Stochastic Inventory Theory", Fredrik Olsson, Mathematical Sciences, Lund University
Kontakt: dragi [at] maths [dot] lth [dot] se
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In this talk, the general concept of stochastic inventory control is introduced. In particular, we investigate a classical discrete time dynamic inventory problem with setup costs. What is the optimal control law for this problem? In order to answer that question we have to solve a non-convex optimization problem.