{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,2,25]],"date-time":"2025-02-25T13:48:36Z","timestamp":1740491316490,"version":"3.38.0"},"reference-count":18,"publisher":"Cambridge University Press (CUP)","issue":"04","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["J. Appl. Probab."],"published-print":{"date-parts":[[2015,12]]},"abstract":"<jats:p>In this paper we consider an inventory system with increasing concave ordering cost and average cost optimization criterion. The demand process is modeled as a Brownian motion. Porteus (1971) studied a discrete-time version of this problem and under the strong condition that the demand distribution belongs to the class of densities that are finite convolutions of uniform and\/or exponential densities (note that normal density does not belong to this class), an optimal control policy is a generalized (<jats:italic>s<\/jats:italic>, <jats:italic>S<\/jats:italic>) policy consisting of a sequence of (<jats:italic>s<jats:sub>i<\/jats:sub>\n               <\/jats:italic>, <jats:italic>S<jats:sub>i<\/jats:sub>\n               <\/jats:italic>). Using a lower bound approach, we show that an optimal control policy for the Brownian inventory model is determined by a single pair (<jats:italic>s<\/jats:italic>, <jats:italic>S<\/jats:italic>).<\/jats:p>","DOI":"10.1017\/s0021900200112987","type":"journal-article","created":{"date-parts":[[2016,3,30]],"date-time":"2016-03-30T16:26:57Z","timestamp":1459355217000},"page":"909-925","source":"Crossref","is-referenced-by-count":2,"title":["Optimal control policy for a Brownian inventory system with concave ordering cost"],"prefix":"10.1017","volume":"52","author":[{"given":"Dacheng","family":"Yao","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Xiuli","family":"Chao","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Jingchen","family":"Wu","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"56","published-online":{"date-parts":[[2016,3,30]]},"reference":[{"key":"S0021900200112987_ref18","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.38.1.87"},{"key":"S0021900200112987_ref1","doi-asserted-by":"publisher","DOI":"10.2307\/3212137"},{"key":"S0021900200112987_ref16","doi-asserted-by":"publisher","DOI":"10.1287\/moor.11.1.125"},{"first-page":"196","volume-title":"Mathematical Methods in the Social Sciences, 1959,","year":"1960","key":"S0021900200112987_ref15"},{"volume-title":"Production and Inventory Management.","year":"1984","key":"S0021900200112987_ref9"},{"key":"S0021900200112987_ref14","doi-asserted-by":"publisher","DOI":"10.1137\/0315007"},{"key":"S0021900200112987_ref8","doi-asserted-by":"publisher","DOI":"10.1287\/moor.8.3.454"},{"key":"S0021900200112987_ref13","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.18.11.644"},{"key":"S0021900200112987_ref7","doi-asserted-by":"publisher","DOI":"10.1016\/0304-4149(78)90059-5"},{"key":"S0021900200112987_ref12","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.17.7.411"},{"volume-title":"Brownian Motion and Stochastic Flow Systems.","year":"1985","key":"S0021900200112987_ref6"},{"key":"S0021900200112987_ref11","doi-asserted-by":"publisher","DOI":"10.1287\/opre.1060.0380"},{"volume-title":"Unimodality, Convexity, and Applications.","year":"1988","key":"S0021900200112987_ref5"},{"volume-title":"Stochastic Models in Operations Research, Vol. I, Stochastic Processes and Operating Characteristics.","year":"2004","key":"S0021900200112987_ref10"},{"key":"S0021900200112987_ref4","doi-asserted-by":"publisher","DOI":"10.1214\/11-SSY046"},{"key":"S0021900200112987_ref3","doi-asserted-by":"publisher","DOI":"10.1214\/11-SSY041"},{"key":"S0021900200112987_ref2","doi-asserted-by":"publisher","DOI":"10.1287\/opre.26.4.620"},{"key":"S0021900200112987_ref17","doi-asserted-by":"publisher","DOI":"10.1287\/moor.2013.0603"}],"container-title":["Journal of Applied Probability"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.cambridge.org\/core\/services\/aop-cambridge-core\/content\/view\/S0021900200112987","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2017,4,22]],"date-time":"2017-04-22T05:15:24Z","timestamp":1492838124000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.cambridge.org\/core\/product\/identifier\/S0021900200112987\/type\/journal_article"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2015,12]]},"references-count":18,"journal-issue":{"issue":"04","published-print":{"date-parts":[[2015,12]]}},"alternative-id":["S0021900200112987"],"URL":"https:\/\/doi.org\/10.1017\/s0021900200112987","relation":{},"ISSN":["0021-9002","1475-6072"],"issn-type":[{"type":"print","value":"0021-9002"},{"type":"electronic","value":"1475-6072"}],"subject":[],"published":{"date-parts":[[2015,12]]}}}