We study a stochastic inventory model of a firm, that sources the product from a make-to-order manufacturer, and can ship orders by a combination of two freight modes. The two freight modes differ in lead-times, and each has a fixed and a quantity proportional cost for each use. The ordering decisions are made periodically; however, the inventory holding and back-order penalty costs are incurre...

Determining the optimal slaughter age of fast-growing animals regarding mortality rates and breeding costs plays an important major role for companies that benefit from their meat. Additionally, effects carbon dioxide (CO2) emissions during growth cycle are a significant concern governments. This study proposes economic order quantity (EOQ) growing items with function under sustainable green po...

The ultimate goal of monetary policy is to achieve price stability and high output. In this regard, central banks usually change the interest rate, liquidity, and money base in order to apply monetary policies. The John B. Taylor rule is one of the rules known in the transmission of monetary policy.[1] Based on this rule and given the output gap and inflation gap, the central bank increases or ...

We introduce a single location periodic review inventory control problem with lost sales and fractional lead times. We model the optimal inventory control problem as a stochastic dynamic program and analyze properties of the objective function as well as the optimal policy. We present upper and lower bounds on the optimal policy. These bounds can readily be used in easily computable heuristics....