Most inventory management systems at hospital departments are characterised by lost sales, periodic reviews with short lead times, and limited storage capacity. We develop two types of exact models that deal with all these characteristics. In a capacity model, the service level is maximised subject to a capacity restriction, and in a service model the required capacity is minimised subject to a...

In this study, the level of protection offered to rear seat occupants in frontal crashes is investigated. The Fatality Analysis Reporting System (FARS) and National Automotive Sampling System Crashworthiness Data System (NASS CDS) databases were used for the analyses. The investigation focused on: 1- estimating the fatality protection effectiveness of the rear seat position relative to the righ...

To formulate a single-leg seat inventory control problem in an airline ticket sales system, the concept and techniques of revenue management are applied in this research. In this model, it is assumed the cabin capacity is stochastic and hence its exact size cannot be forecasted in advance, at the time of planning. There are two groups of early-reserving and late-purchasing customers demanding t...

In the forty years since the first publication on overbooking control, passenger reservations systems have evolved from low level inventory control processes to major strategic information systems. Today, airlines and other transportation companies view revenue management systems and related information technologies as critical determinants of future success. Indeed, expectations of revenue gai...

In this paper, we propose a simple heuristic approach for the inventory control problem with stochastic demand and multiplicative random yield. Our heuristic tries to find the best candidate within a class of policies which are referred to in the literature as the linear inflation rule (LIR) policies. Our approach is computationally fast, easy to implement and intuitive to understand. Moreover,...

We consider the problem of determining the optimal ordering and reordering policy for an inventory where the entire stockwill simultaneously become obsolete at some (typically random) time, T . Manymanufacturing, publishing, distribution, and high tech businesses face the challenge of maintaining inventories that do not age in the conventional sense; instead, they suddenly become obsolete and l...

Product returns are characterized by considerable uncertainty on time and quantity. In the literature on inventory management for product return environments best forecasts of future returns are associated with methods that use the most information regarding product return history. In practice, however, data is often scarce and unreliable, while forecasts based on historical data, reliable or n...

Consider an inventory model which consists in controlling the level of stock of a single product where the demands D1, D2, . . . for the product in periods 1, 2, . . . are independently and identically distributed i.i.d random variables with density function ψ, and finite mean μ < ∞. Assume that at the beginning of each period the system is reviewed and we are allowed to increase the level of s...