The Genesis of “Optimal Inventory Policy”

Optimal Inventory Policy

Optimal Inventory Policy with Two Suppliers

We analyze a periodic-review inventory model where the decision maker can buy from either of two suppliers. With the first supplier, the buyer incurs a high variable cost but negligible fixed cost; with the second supplier, the buyer incurs a lower variable cost but a substantial fixed cost. Consequently, ordering costs are piecewise linear and concave. We show that a reduced form of generalize...

the foreign policy of russia toward caucasus 2000-2008

after the soviet union dissolution, a chaotic period was begun in the russia. russia lost its glory and felt disgrace. the first group of elites came to power under yeltsin; they tried to re-define russia’s identity as a european country and build a foreign policy on this baseline. therefore russia tried to become closer with the west especially with the u.s. according to their view the sovie...

Optimal lateral transshipment policy for a two location inventory problem

We consider an inventory model for spare parts with two stockpoints, providing repairable parts for a critical component of advanced technical systems. As downtime costs for these systems are huge, ready-for-use spare parts are kept on stock, to be able to quickly respond to a breakdown of a system. We allow for lateral transshipments of parts between the stockpoints upon a demand arrival for a...

Infinite Horizon Optimal Policy for an Inventory System

In this paper, we consider a periodic review inventory system and present its optimal policy in the infinite horizon setting. The optimal inventory policy that maximizes the infinite horizon expected discounted profit for the model is analytically obtained and proved to be an order-up-to policy. Results are also provided that elucidate the operations of the inventory system in the long run. Thi...