A minimax distribution free procedure for mixed inventory model with variable lead time

Article Abstract:

A study developed a mixed inventory model which combines backorders and lost sales, relaxes the premise about the normal distribution of lead time demand and considers any cumulative distribution function of lead time demand. The aim of the analysis is to solve a mixed inventory model by using the minimax distribution free technique. It formulated an algorithm procedure to identify the most unfavorable cumulative distribution function F for each decision variable to determine optimal order quantity and lead time. It was found that the order quantity per cycle in the lost sales case exceeds that in the backorders case.

Factory orders, Lead time

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A lost-sales continuous-review inventory system with emergency ordering

Article Abstract:

A lost-sales continuous-review inventory model with non-unit-sized demands is developed where orders of sizes Q1 and Q2 are placed at reorder levels s1 and s2. The stationary distribution of the inventory level is determined using a system-point method of level crossings. Two cost minimization models with and without a service level constraint are then derived using this distribution. Verification of the model is discussed.

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