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Engineering and manufacturing industries

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Analysis of order-up-to-S inventory policies under cash flow market value maximization

Article Abstract:

A multi-period framework of a periodic order-up-to-S policy is derived. It is shown that a simple optimality criteria can be developed for calculating the optimal reorder levels for lost-sales and back-order situations. Optimality conditions are also similar with those for the single-period problem while market data and demand risk influence the optimal reorder cycle length in a multi-period situation.

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Two replenishment strategies for the lost sales inventory model: a comparison

Article Abstract:

The fixed reorder level and dynamic replenishment strategies for a lost sales environment are studied. It is shown that the dynamic replenishment strategy provides a smoother ordering pattern compared to the fixed reorder level strategy leading to a possible decrease in price or increased supply reliability. The dynamic strategy also requires less inventory to obtain a specific service level.

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