An optimal recursive method for various inventory replenishment models with increasing demand and shortages

Jinn‐Tsair Teng, Maw‐Sheng Chern and Hui‐Ling Yang

Naval Research Logistics (NRL), 1997, vol. 44, issue 8, 791-806

Abstract: We establish various inventory replenishment policies to solve the problem of determining the timing and number of replenishments. We then analytically compare various models, and identify the best alternative among them based on minimizing total relevant costs. Furthermore, we propose a simple and computationally efficient optimal method in a recursive fashion, and provide two examples for illustration. © 1997 John Wiley & Sons, Inc. Naval Research Logistics 44: 791–806, 1997

Date: 1997
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https://doi.org/10.1002/(SICI)1520-6750(199712)44:83.0.CO;2-5

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:44:y:1997:i:8:p:791-806

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