Multi-level control and asymptotic behaviour of some inventory systems

Article Abstract:

A study was conducted to analyze periodic-review systems supporting demand and supply in batches of a fixed size. To this end, multi-level controls supporting certain conditions were proven to promote the same asymptotic behavior of the system as its capacity leads to infinity. A number of optimization problems were then discussed. Results indicated that multi-level controls influence the asymptotic behavior of the normalized stopping time while stabilizing the system.

Research

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Deteriorating inventory model with quantity discount, pricing and partial backordering

Article Abstract:

A study was conducted to determine an inventory framework supporting quantity discount, partial backordering and pricing when the product in stock deteriorates with time. In line with this, a numerical example was presented to characterize the model. Net profit was optimized by solving the optimal inventory holding time and the selling price. An algorithm was then developed to compute other optimal solutions.

Pricing Policy, Usage, Pricing, Algorithms

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Optimal solutions for stochastic inventory models when the lead-time demand distribution is partially specified

Article Abstract:

A study was conducted to determine solutions for stochastic inventory frameworks when the lead-time demand distribution is partially specified. A novel four-parameter family of distributions was utilized to determine solutions for two inventory analysis models. Results indicated that the approach supports mean-squared errors that are smaller relative to solution processes when moments are unknown.

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