What is it about?
We obtained a closed form expression for the optimal inventory policy for a software focused inventory model with two types of product that share a common hardware platform in the infinite horizon setting, and we further deduced the behavior of the inventory model in the long run.
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Why is it important?
The inventory model is derived from an inventory system that is realistic, and we are able to determine the inventory policy that minimizes system cost in the long run by analyzing the model.
Perspectives
This is a follow-up paper of an earlier paper by the same authors from the finite horizon to the infinite horizon setting. Most work in the paper is done by the second author, while financial support that makes this research possible is provided by a grant obtained by the first and third authors.
Dr Chee Khian Sim
University of Portsmouth
Read the Original
This page is a summary of: Infinite horizon optimal policy for an inventory system with two types of product sharing common hardware platforms, Operations Research Letters, January 2017, Elsevier,
DOI: 10.1016/j.orl.2016.10.009.
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