(Q,R) STOCHASTIC DEMAND INVENTORY MODEL WITH EXACT NUMBER OF CYCLES

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RABANI MASOUD

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Journal: ESTEGHLAL Year:2002 | Volume:21 | Issue:1 Page(s): 71-80

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Information Journal Paper

Title

(Q,R) STOCHASTIC DEMAND INVENTORY MODEL WITH EXACT NUMBER OF CYCLES

Author(s)

RABANI MASOUD | Issue Writer Certificate

Keywords

INVENTORY CONTROLQ4

STOCHASTIC DEMANDQ4

CONTINUOUS REVIEWQ4

INVENTORY CYCLEQ4

Abstract

In most stochastic inventory models, such as CONTINUOUS REVIEW models and periodic review models, it has been assumed that the stockout period during a cycle is small enough to be neglected so that the average number of cycles per year can be approximated as D/Q, where D is the average annual demand and Q is the order quantity. This assumption makes the problem more tactable, but it should not be adopted when the backorder and lost sales penalty costs are relatively small. In this paper, considering a CONTINUOUS REVIEW inventory model, we relax the above assumption and we explicitly take into account the stockout period when computing the expected cycle length. Further, we consider the effect of using exact number of cycles rather than using approximate number of cycles in a CONTINUOUS REVIEW inventory model.

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APA: Copy

RABANI, MASOUD. (2002). (Q,R) STOCHASTIC DEMAND INVENTORY MODEL WITH EXACT NUMBER OF CYCLES. ESTEGHLAL, 21(1), 71-80. SID. https://sid.ir/paper/6045/en

Vancouver: Copy

RABANI MASOUD. (Q,R) STOCHASTIC DEMAND INVENTORY MODEL WITH EXACT NUMBER OF CYCLES. ESTEGHLAL[Internet]. 2002;21(1):71-80. Available from: https://sid.ir/paper/6045/en

IEEE: Copy

MASOUD RABANI, “(Q,R) STOCHASTIC DEMAND INVENTORY MODEL WITH EXACT NUMBER OF CYCLES,” ESTEGHLAL, vol. 21, no. 1, pp. 71–80, 2002, [Online]. Available: https://sid.ir/paper/6045/en

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