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Periodic review inventory control with fluctuating purchasing costs

✍ Scribed by Srinagesh Gavirneni

Publisher: Elsevier Science
Year: 2004
Tongue: English
Weight: 190 KB
Volume: 32
Category: Article
ISSN: 0167-6377
DOI: 10.1016/j.orl.2003.11.003

No coin nor oath required. For personal study only.

✦ Synopsis

For an inventory control problem in which the purchasing cost changes (e.g. exchange rate uctuations), we show that an order up to policy is optimal and determine conditions under which the optimal up to levels are monotonically ordered. We also propose a simple method for predicting the e ectiveness of myopic heuristics.

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