𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Periodic-review inventory models with inventory-level-dependent demand

✍ Scribed by Yigal Gerchak; Yunzeng Wang

Publisher
John Wiley and Sons
Year
1994
Tongue
English
Weight
770 KB
Volume
41
Category
Article
ISSN
0894-069X

No coin nor oath required. For personal study only.

✦ Synopsis

Demand for some items can depend on the inventory level on display, a phenomenon often exploited by marketing researchers and practitioners. The implications of this phenomenon have received scant attention in the context of periodic-review inventory control models. We develop an approach to model periodic-review production/inventory problems where the demand in any period depends randomly, in a very general form, on the starting inventory level. We first obtain a complete analytical solution for a singleperiod model. We then investigate two multiperiod models, one with lost sales and the other with backlogging, whose optimal policies turn out to be myopic. Some extensions are also discussed.

πŸ“œ SIMILAR VOLUMES

A time dependent continuous review inven
A time dependent continuous review inventory model with compound poisson demand
✍ P. Banerjee; A. Hamidi-Noori; W. Knight πŸ“‚ Article πŸ“… 1985 πŸ› John Wiley and Sons 🌐 English βš– 426 KB

## Abstract We discuss a time dependent optimal ordering policy for a finite horizon inventory system for which the provision of service is essential and thus no stockout is allowed. It is assumed that the system can place an order at any point in time during the horizon when it cannot meet the cus

Selecting T for a periodic review invent
Selecting T for a periodic review inventory model with staggered deliveries
✍ James Flynn πŸ“‚ Article πŸ“… 2000 πŸ› John Wiley and Sons 🌐 English βš– 486 KB

Consider a single-item, periodic review, infinite-horizon, undiscounted, inventory model with stochastic demands, proportional holding and shortage costs, and full backlogging. Orders can arrive in every period, and the cost of receiving them is negligible (as in a JIT setting). Every T periods, one

A continuous review inventory model with
A continuous review inventory model with compound poisson demand process and stochastic lead time
✍ Yvo M. I. Dirickx; Danielle Koevoets πŸ“‚ Article πŸ“… 1977 πŸ› John Wiley and Sons 🌐 English βš– 408 KB

## Abstract Using Markov renewal theory, we derive analytic expressions for the expected average cost associated with __(s, S)__ policies for a continuous review inventory model with a compound Poisson demand process and stochastic lead time, under the (restrictive) assumption that only one order c

Centralized inventory control in a two-l
Centralized inventory control in a two-level distribution system with Poisson demand
✍ Johan Marklund πŸ“‚ Article πŸ“… 2002 πŸ› John Wiley and Sons 🌐 English βš– 187 KB

## Abstract This paper introduces a new replenishment policy for inventory control in a two‐level distribution system consisting of one central warehouse and an arbitrary number of nonidentical retailers. The new policy is designed to control the replenishment process at the central warehouse, usin