This text provides a superbly researched insight into Markovian demand inventory models. The result of ten years of research, this work covers all aspects of demand inventory where they are modeled by Markov processes. Inventory management is concerned with matching supply with demand and is a central problem in Operations Management. The central problem is to find the amount to be produced or purchased in order to maximize the total expected profit, or minimize the total expected cost.
- ISBN13 9780387716039
- Publish Date 16 October 2009 (first published 4 October 2009)
- Publish Status Active
- Publish Country US
- Imprint Springer-Verlag New York Inc.
- Edition 2010 ed.
- Format Hardcover
- Pages 255
- Language English