A sample-path approach to the optimality of echelon order-up-to policies in serial inventory systems |
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| Authors: | Woonghee Tim Huh Ganesh Janakiraman |
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| Affiliation: | aDepartment of IEOR, Columbia University, United States;bStern School of Business, New York University, United States |
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| Abstract: | We present a new proof of the optimality of echelon order-up-to policies in serial inventory systems, first proved by Clark and Scarf. Our proof is based on a sample-path analysis as opposed to the original proof based on dynamic programming induction. |
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| Keywords: | Inventory Multi-echelon Sample-path analysis |
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