We examine a single-item, periodic-review inventory system with stochastic leadtimes, in which a replenishment order is delivered immediately or one period later, depending probabilistically on costly effort. The objective is to determine an inventory policy and an effort-choice strategy that minimize the expected total costs. Our analytical and computational analysis suggests that (i) a state-...

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...

We consider the periodic-review, single-location, single-product, production/inventory control problem under non stationary demand and service-level constraints. The product is perishable and has a fixed shelf life. Costs comprise fixed ordering costs and inventory holding costs. For this inventory system we discuss a number of control policies that may be adopted. For one of these policies, we...

Companies survive in saturated markets trying to be more productive and more efficient. In this context, to manage more accurately the finished goods inventories becomes critical for make to stock production systems companies. In this paper an inventory replenishment expert system with the objectives of improving quality service and reducing holding costs is proposed. The Inventory Replenishmen...

This paper is concerned with the optimal control of a production inventory system with deteriorating items. It is assumed that the deterioration rate follows the two-parameter Weibull distribution. The continuous-review and periodic-review policies are investigated. In each case, optimality conditions are derived. Also, numerical illustrative examples are presented.

The cash management of an automated teller machine (ATM) often combines a periodic review inventory policy with emergency orders, the latter according to a continuous review inventory policy. We present a simulation-based decision support system (DSS) that considers both regular (periodic) and emergency (continuous review) orders. This DSS was developed to assist an ATM’s manager in the selecti...

The purpose of this paper is to extend [Ouyang, L. Y., Chuang, B. R. (2001). A periodic review inventory-control system with variable lead time. International Journal of Information and Management Sciences, 12, 1–13] periodic review inventory model with variable lead time by considering the fuzziness of expected demand shortage and backorder rate. We fuzzify the expected shortage quantity at th...