Constrained Stochastic Inventory Control Models for Multi-Item with Variable Demand

Multi-Item Multiperiodic Inventory Control Problem with Variable Demand and Discounts: A Particle Swarm Optimization Algorithm

A multi-item multiperiod inventory control model is developed for known-deterministic variable demands under limited available budget. Assuming the order quantity is more than the shortage quantity in each period, the shortage in combination of backorder and lost sale is considered. The orders are placed in batch sizes and the decision variables are assumed integer. Moreover, all unit discounts...

A Fully Polynomial-Time Approximation Scheme for Single-Item Stochastic Inventory Control with Discrete Demand

The single-item stochastic inventory control problem is to find an inventory replenishment policy in the presence of independent discrete stochastic demands under periodic review and finite time horizon. In this paper, we prove that this problem is intractable and for any 2 > 0, we design an algorithm with running time polynomial in the size of the problem input and in 1/2, that finds a policy ...

Stochastic inventory control with partial demand observability

presenting a new model for inventory control of multi-item economic production quantity (epq) with fuzzy random demand

inventory control problem is one of the problems in decision making and management that contains non-crisp parameters in real world. economic production quantity (epq) model in fuzzy environment has been studied so far by many researchers. one of the main assumptions in all previous researches was neglecting the inventory shortage. in this research, a new multi-item epq model with fuzzy random ...

Inventory Models Comparison in Variable Demand Environments

This paper presents a comparative cost performance study of four inventory models. One of them, referred as Requirement Planning, operates using demand forecast to quantify the acquisition decisions. The other three inventory models are the Order Up to Maximum Inventory Level, Base Stock and Fixed Lot Size. The Requirement Planning and Base Stock models operate with minimal purchase order quant...