Optimal inventory policies for an economic order quantity model with decreasing cost functions

Article Abstract:

Three models for minimizing the costs associated with Economic Order Quantity in inventory control are presented. The models are based on geometric programming. A comparison between the outcome from these models and the basic EOQ model is also presented and the reasons for variances are analyzed.

United States, South Korea, Analysis, Economic aspects, Economic lot size, Series, Geometric, Geometric series

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Inventory control based on advanced probability theory, an application

Article Abstract:

A study suggesting a reorder level model for buffer stock based on uncertain future demands and supplies is presented. CERN has implemented this system of inventory control and achieved substantial improvement in its service level.

Netherlands, Switzerland

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Continuous-review, lost-sales inventory models with Poisson demand, a fixed lead time and no fixed order cost

Article Abstract:

Empirical model for continous review of base stock inventory and lost sales, based on varying demand for goods manufactured by company, is presented.

United Kingdom, Market information - general, Supply and demand, Sales, Sales analysis, Industrial goods

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