For the (S − 1, S) lost sales inventory model with several demand classes that have different lost sale penalty cost, three accurate and efficient heuristic algorithms are presented that, at a given base stock level, aim to find optimal values for the critical levels, i.e., values that minimize inventory holding and penalty cost.

Purpose: The purpose of this paper to develop an inventory model for instantaneous deteriorating items with the consideration of the facts that the deterioration rate can be controlled by using the preservation technology (PT) and the holding cost & demand rate both are linear function of time which was treated as constant in most of the deteriorating inventory model. Design/methodology/approac...

The inventory routing problem presented in this study is a one-to-many distribution network consisting of a manufacturer that produces multi products to be transported to many geographically dispersed customers. We consider a finite horizon where a fleet of capacitated homogeneous vehicles, housed at a depot/warehouse, transports products from the warehouse to meet the demand specified by the c...

The aim of this paper is to propose tools to adapt and parameterize the Material Requirement Planning (MRP) method under lead time uncertainty. We study multi-level assembly systems with one type of finished products and several types of components. We consider that each component has a fixed unit inventory cost and the finished product has a backlogging cost per unit of time. The lead times of...

An inventory model with 3-variable Weibull distribution demand rate and constant deterioration is developed. The holding cost is constant. Shortages are not allowed. The salient feature of this inventory model is for non-perishable products or deteriorating items. A numerical example has been illustrated using MATLAB to describe the model and the sensitivity analysis of various parameters is ca...

This paper develops a more general production-inventory model for a single-vendor–single-buyer integrated system. Unlike the hitherto existing production-inventory models for the vendor–buyer system, the present model neither requires the buyer’s unit holding cost greater than the vendor’s nor assumes the structure of shipment policy. Secondly, the model is extended to the situation with shorta...

In this paper, we consider inventory models for periodic-review systems with replenishment cycles, which consist of a number of periods. By replenishment cycles, we mean that an order is always placed at the beginning of a cycle. We use dynamic programming to formulate both the backorder and lost-sales models, and propose to charge the holding and shortage costs based on the ending inventory of...

Inventory model under risk that demand is uncertain is recognized. In this paper, the fuzzy demand per day and fuzzy lead time on a cycle in fuzzy inventory control system are assumed to trapezoidal distribution, trapezoidal fuzzy number by decision maker. A fuzzy inventory model under manager’s preference for order quantity is presented first. This model is given by fuzzy total annual inventor...