In the stationary periodic review (s, S) inventory system with stationary demand and immediate delivery of orders, the optimal values of s and S, say s* and S*, will be a function of the input parameters defining the cost structure and the demand distribution. Assume backlogging is allowed and...

The functional equation technique is applied to obtain explicit expressions for the long-term total expected discounted cost in replacement problems incorporating the downtime effect associated with the repair state of the failed component. Necessary and sufficient conditions for an optimal...