{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,5]],"date-time":"2025-10-05T21:53:41Z","timestamp":1759701221561},"reference-count":20,"publisher":"World Scientific Pub Co Pte Lt","issue":"06","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Asia Pac. J. Oper. Res."],"published-print":{"date-parts":[[2012,12]]},"abstract":"<jats:p> In this paper, we consider an inventory model in which a firm uses the spot market for procurement in order to accomplish the minimization of total discounted costs. The model can be formulated as impulse control problem where the demand and spot price follow diffusion stochastic processes. We explore sufficient conditions under which an optimal policy exists. Furthermore, we derive an optimal policy as an (s, S) policy where s and S are uniquely determined as a solution of simultaneous equation. Finally, we show some analytical properties of the optimal policy. Some numerical examples are also presented. <\/jats:p>","DOI":"10.1142\/s0217595912500376","type":"journal-article","created":{"date-parts":[[2013,1,4]],"date-time":"2013-01-04T03:04:22Z","timestamp":1357268662000},"page":"1250037","source":"Crossref","is-referenced-by-count":2,"title":["OPTIMAL ORDERING POLICIES WITH STOCHASTIC DEMAND AND PRICE PROCESSES"],"prefix":"10.1142","volume":"29","author":[{"given":"KIMITOSHI","family":"SATO","sequence":"first","affiliation":[{"name":"Graduate School of Finance, Accounting and Law, Waseda University, 1-4-1, Nihombashi, Chuo-ku, Tokyo 103-0027, Japan"}]},{"given":"KATSUSHIGE","family":"SAWAKI","sequence":"additional","affiliation":[{"name":"Graduate School of Business Administration, Nanzan University, 18 Yamazato-cho, Showa-ku, Nagoya 466-8673, Japan"}]}],"member":"219","published-online":{"date-parts":[[2013,1,3]]},"reference":[{"key":"rf1","doi-asserted-by":"publisher","DOI":"10.1007\/s102030200001"},{"key":"rf2","doi-asserted-by":"publisher","DOI":"10.1287\/moor.20.3.709"},{"key":"rf3","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2006.08.042"},{"key":"rf4","doi-asserted-by":"publisher","DOI":"10.1287\/opre.1100.0862"},{"key":"rf5","doi-asserted-by":"publisher","DOI":"10.1137\/S0363012992229835"},{"key":"rf7","doi-asserted-by":"publisher","DOI":"10.1287\/opre.26.4.620"},{"key":"rf8","doi-asserted-by":"publisher","DOI":"10.1111\/j.1540-6261.1991.tb04648.x"},{"key":"rf9","doi-asserted-by":"publisher","DOI":"10.1287\/opre.7.1.107"},{"key":"rf10","doi-asserted-by":"publisher","DOI":"10.1007\/s00186-010-0336-z"},{"key":"rf11","doi-asserted-by":"publisher","DOI":"10.1057\/palgrave.jors.2602401"},{"key":"rf12","doi-asserted-by":"publisher","DOI":"10.1287\/opre.19.6.1434"},{"key":"rf13","volume-title":"A First Course in Stochastic Processes","author":"Karlin S.","year":"1975"},{"key":"rf14","doi-asserted-by":"publisher","DOI":"10.1057\/jors.1969.29"},{"key":"rf15","doi-asserted-by":"publisher","DOI":"10.1287\/moor.22.3.639"},{"key":"rf16","doi-asserted-by":"publisher","DOI":"10.1287\/inte.1070.0333"},{"key":"rf17","volume-title":"Applied Stochastic Control of Jump Diffusions","author":"\u00d8ksendal B.","year":"2005"},{"key":"rf18","doi-asserted-by":"publisher","DOI":"10.1016\/j.ejor.2004.07.006"},{"key":"rf19","volume-title":"Beginning Partial Differential Equations","author":"O'Neil P. V.","year":"1999"},{"key":"rf20","doi-asserted-by":"crossref","first-page":"136","DOI":"10.15807\/jorsj.53.136","volume":"53","author":"Sato K.","year":"2010","journal-title":"Journal of the Operations Research Society of Japan"},{"key":"rf21","doi-asserted-by":"publisher","DOI":"10.1287\/moor.11.1.125"}],"container-title":["Asia-Pacific Journal of Operational Research"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.worldscientific.com\/doi\/pdf\/10.1142\/S0217595912500376","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2019,8,7]],"date-time":"2019-08-07T12:39:03Z","timestamp":1565181543000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.worldscientific.com\/doi\/abs\/10.1142\/S0217595912500376"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2012,12]]},"references-count":20,"journal-issue":{"issue":"06","published-online":{"date-parts":[[2013,1,3]]},"published-print":{"date-parts":[[2012,12]]}},"alternative-id":["10.1142\/S0217595912500376"],"URL":"https:\/\/doi.org\/10.1142\/s0217595912500376","relation":{},"ISSN":["0217-5959","1793-7019"],"issn-type":[{"value":"0217-5959","type":"print"},{"value":"1793-7019","type":"electronic"}],"subject":[],"published":{"date-parts":[[2012,12]]}}}