There is considered a two-level single-product inventory control system which controls correspondingly the wholesale’s warehouse and the customers’ warehouses. For delivering the product there has been organized a supply chain “producer – wholesaler – customer”. It is assumed that the customers and the wholesaler shape their stocks having in mind the minimization of the total costs of the produ...

This paper proposes an inventory control model for fixed deterioration and Logarithmic demand rat for the optimal stock of commodities to meet the future demand which may either arise at a constant rate or may vary with time. The analytical development is provided to obtain the optimal solution to minimize the total cost per time unit of an inventory control system. Numerical analysis has been ...

Practical experience and scientific research show that there is scope for improving the performance of inventory control systems by delaying a replenishment order that is otherwise triggered by generalised and all too often inappropriate assumptions. This paper presents the first analysis of the most commonly used continuous (s, S) policies with delayed ordering for inventory systems with compo...

In this article, we consider a classic dynamic inventory control problem of a self-financing retailer who periodically replenishes its stock from a supplier and sells it to the market. The replenishment decisions of the retailer are constrained by cash flow, which is updated periodically following purchasing and sales in each period. Excess demand in each period is lost when insufficient invent...

This paper is on production planning and inventory control in systems where manufacturing and remanufacturing operations occur simultaneously. Typical for these hybrid systems is, that both the output of the manufacturing process and the output of the remanufacturing process can be used to fulfil customer demands. Here, we consider a relatively simple hybrid system, related to a single componen...

We consider a single-echelon, single-item inventory system where both demand and lead-time are stochastic. Continuous review policy is used to control the inventory system. The objective is to calculate the reorder point level under stochastic parameters. A case study is presented in Neonatal Intensive Care Unit. Keywords—Inventory control system, reorder point level, stochastic demand, stochas...

Demand occasionally depends positively on the amount of displayed stock, especially in the case of novelty or impulse purchase items. Such inventory-level dependence of demand rate has been incorporated into some continuous review inventory control models, but only ones with demand rate which does not vary with time, no shortages, infinite production rate and per-unit-time cost minimization. We...

Our economy and national infrastructures are dependent on a range of socio-technical systems and, by and large, these systems can be trusted to provide a dependable service. For example, electricity and telecommunication systems are generally reliable, the bank ATM network can usually deliver cash to authorised customers and automated stock control systems have meant that large stores and super...

We establish a duality theory for a broad class of deterministic inventory control problems on continuous spaces that includes the classical joint replenishment problem and inventory routing. Using this theory, we establish the existence of an optimal policy, which has been an open question. We show how a primal-dual pair of infinite dimensional linear programs encode both cyclic and non-cyclic...

This paper considers a single-echelon, continuous review, inventory system with a warehouse facing compound Poisson customer demand. The replenishment lead-time is constant. Demand that cannot be met directly is backordered. There are standard linear holding and backorder costs but no set-up or ordering cost. It is assumed that the demand process starts at a certain given time. Consequently, be...