Multi-Item (s,S) Inventory Systems with a Service Objective
NORTH CAROLINA UNIV AT CHAPEL HILL SCHOOL OF BUSINESS ADMINISTRATION
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This report considers a Multi-item s,S Inventory System in which shortage costs are replaced by a stockout probability constraint. Necessary and sufficient conditions for a policy to be optimal are derived, and a computational efficient algorithm is developed. Computation experience indicates the operating costs can be reduced significantly.
- Statistics and Probability