Stochastic inventory control model with two stages in ordering process

Eugene Kopytov, Leonid Greenglaz and Fedor Tissen

Journal of Business Economics and Management, 2006, vol. 7, issue 1, 21-24

Abstract: The purpose of offered work is the construction of a stochastic single‐product inventory control model for the chain “producer – wholesaler – customer”. Given situation takes place in many transport and industrial companies. Criterion of optimization is minimum of average expenses for goods holding, ordering and losses from deficit per a time unit.

Date: 2006
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DOI: 10.1080/16111699.2006.9636118

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