Probabilistic model; Inventory; Varying order cost; Holding cost; Lead-time demand; Uniform distribution; Safety stock Abstract This paper discusses the probabilistic backorders inventory system when the order cost unit is a function of the order quantity. Our objective is to minimize the expected annual total cost under a restriction on the expected annual holding cost when the lead time deman...

The paper is to present a simulation method to search for an optimal (z, Z) (z < Z) values for the (z, Z) production control policy so that the expected inventory cost rate (i.e. expected total cost due to both inventory holding and backlog per unit time) is minimal for a single machine system with buffer. The system is subject to operationdependent failure only and alternates between normal an...

A Multi-item inventory model with increasing holding cost, under available limited storage space and total investment cost is considered in this paper. The varying holding cost is considered to be a continuous function of production quantity. A demand dependent on unit cost has been considered and this unit cost is taken in fuzzy environment. The model is solved using Kuhn-Tucker conditions met...

When a manufacturer places repeated orders with a supplier to meet changing production requirements, he faces the challenge of finding the right balance between holding costs and the operational costs involved in adjusting the shipment sizes. We consider an inventory whose content fluctuates as a Brownian motion in the absence of control. At any moment, a controller can adjust the inventory lev...

Inventory models in which the demand rate depends on the inventory level are based on the common real-life observation that greater product availability tends to stimulate more sales. Previous models incorporating inventory-level dependent demand rate assume that the holding cost is constant for the entire inventory cycle. This paper considers the inventory policy for an item with a stock-level...

in this article, a finite horizon, multi product and multi period economic order quantity like seasonal items is considered where demand rate is deterministic and known but variable in each period. the order quantities of items come in batch sizes and the end of the period order quantity and, consequently, demand of customers are zero. in addition, storage space is constrained and the problem ...