## Inventory-production theory: a linear policy approachA linear policy approach; The linear quadratic model; The linear non-quadratic model; Comparison with optimal dynamic programming solutions; Comparison with deterministic approximations; Comparison with AHM-inventory models. |

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### Contents

Comparison with deterministic approximations | 78 |

Comparison with AHMInvento1 Models | 95 |

Summary and concluding remarks | 110 |

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### Common terms and phrases

approximation assumption balance equation beta-distribution calculated Chap Chapter conditional mean consider cost criterion cost deviations cost functions cost parameters costs are given defined demand distribution denotes derive deterministic distribution function dynamic certainty equivalents dynamic programming enlarging the inspection exponential smoothing finite horizon follows Gauss-Markov Gauss-Markov process Gaussian Hence inspection period inventory costs inventory problem investigate k+1 k+1 Kalman filter linear decision rule linear-quadratic LNQ-approach mixed strategy normally distributed Numerical Results obtains optimal costs optimal policy optimal safety stock Piecewise Linear Costs policy is given probability distribution procedure production costs pure inventory quadratic functions random variables random walk recursive reduces respect restricted rk_1 rk(i S,S)-policy sequence of demand set-up costs shown situation solving space representation stationary stochastic sequence stock on hand structure suboptimal Substituting Table variance white noise Wiener-Hopf equation z-transforms