Exact Characterization of the Jointly Optimal Restocking and Auditing Policy in Inventory Systems with Record Inaccuracy
研究了库存记录不准确时，如何联合优化补货和审计策略以最小化长期期望折现成本，证明了最优补货策略为阈值策略，而最优审计策略非阈值型，并基于符号正则性给出了刻画。
We present a continuous-time stochastic model of an inventory system with record inaccuracy. In this formulation, demand is modeled by a point process and is observable only when it leads to sales. In addition to demand that can reduce the stock, an unobservable stochastic loss process can also reduce the stock. The retailer’s goal is to identify the restocking and auditing policy that minimizes the expected discounted cost of carrying a product over an infinite horizon. We analytically characterize the optimal restocking and jointly optimal auditing policy. We prove that the optimal restocking policy is a threshold policy. Our proof of this result is based on a coupling argument that is valid for any demand and loss model. Unlike the optimal restocking policy, the jointly optimal auditing policy is not of threshold type. We show that a complete proof of this statement cannot be obtained by solely resorting to the first-order stochastic dominance property of the Bayesian shelf stock distribution induced by the demand and loss process. Instead, our characterization of the jointly optimal auditing policy is based on proving that the dynamics of the shelf stock distribution constitute a (strictly) sign-regular kernel. To our knowledge, this is the first paper that characterizes the optimal policy of a complex control problem by establishing sign regularity of its underlying Markovian dynamics. Our theoretical results lead to a fast algorithm for computing the exact jointly optimal auditing/restocking policy over the problem’s entire state space. This enables comparative statics analysis, which allows us to determine how inventory record inaccuracy affects the economic significance of various cost drivers. This, in turn, allows us to determine when or, better, under what conditions auditing can be an effective tool for reducing the total cost.