On the existence of unique minimum for the cost function in a (Q,R) inventory model with backorders

DOI10.1093/IMAMAN/DPW010zbMATH Open1473.90006OpenAlexW2470745056MaRDI QIDQ5382736FDOQ5382736

Authors: George E. Halkos, Ilias S. Kevork, Christos N. Tziourtzioumis 

Publication date: 18 June 2019

Published in: IMA Journal of Management Mathematics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1093/imaman/dpw010

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zbMATH Keywords

cost functionconvexityinventory controlunimodal distributioncontinuous review modelHadley-Whitin approximation

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42) Inventory, storage, reservoirs (90B05)

Cited In (3)

• The value of regulating returns for enhancing the dynamic behaviour of hybrid manufacturing-remanufacturing systems
• Minimizing holding and ordering costs subject to a bound on backorders is as easy as solving a single backorder cost model
• A simple cost minimization procedure for the \((Q, r)\) inventory system with a specified fixed cost per stockout occasion

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