Approximated closed-form minimum-cost solution to the (r, q) policy with complete backordering and further developments

DOI10.1016/J.APM.2016.05.001MaRDI QIDQ2293480zbMATH OpenOpenAlexFDO

Authors Marcello Braglia, Davide Castellano, Mosè Gallo

Publication date 5 February 2020

Published in Applied Mathematical Modelling (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.apm.2016.05.001

zbMATH Keywords

\((r,q)\) policybackorderheuristicinventorylogistic functionstochastic

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

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Cites work

• A simple cost minimization procedure for the \((Q, r)\) inventory system with a specified fixed cost per stockout occasion
• An overview of heuristic solution methods
• Controlling setup cost in \((Q, r, L)\) inventory model with defective items
• Effective and simple EOQ-like solutions for stochastic demand periodic review systems
• Foundations of inventory management
• Improved inventory models with service level and lead time
• Inventory models with variable lead time and present value
• Mixture Inventory Model with Backorders and Lost Sales for Variable Lead Time
• New bounds and heuristics for (Q,r) policies
• On Properties of Stochastic Inventory Systems
• On the inventory model with continuous and discrete lead time, backorders and lost sales
• Positive Definite Matrices and Sylvester's Criterion
• Single-vendor multi-buyer integrated production-inventory model with controllable lead time and service level constraints
• Tractable (Q, R) Heuristic Models for Constrained Service Levels

Cited in

(5)

• Approximated closed-form minimum-cost solutions to the \((S-1,S)\) policy with complete backordering
• EOQ holds under stochastic demand, a technical note
• Opportunity loss minimization and newsvendor behavior
• Closed-form approximations for optimal \((r,q)\) and \((S,T)\) policies in a parallel processing environment
• Constrained integrated inventory model for multi-item under mixture of distributions

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