Single-Echelon Systems: Integration–Optimality

Sven Axsäter ()
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Sven Axsäter: Lund University

Chapter 6 in Inventory Control, 2015, pp 107-120 from Springer

Abstract: Abstract In practice it is most common to determine the batch quantity from a deterministic model. The stochastic demand is then replaced by its mean. In Chap. 4 we have considered different methods for determination of batch quantities under the assumption of deterministic demand. Stochastic variations in the demand, and possibly in the lead-time, are then only taken into account when determining the reorder point. As discussed in Chap. 4 this procedure is, in general, an adequate approximation. In Chap. 5 we have described various techniques for determining the reorder point for a given batch quantity.

Date: 2015
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DOI: 10.1007/978-3-319-15729-0_6

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