Determining (s, S) Inventory Policy for Healthcare System

(S, S) Policy for uncertain Single period inventory Problem

ing the cost (c(y − x) +K) from revenue, we obtain the total profit f(ξ, x) = r(ξ, y)− c(y − x) −K = 

ON THE (s,s) POLICY WITH FIXED INVENTORY HOLDING AND SHORTAGE COSTS

In this paper, we consider a dynamic stochastic inventory model with fixed inventory holding and shortage costs in addition to a fixed ordering cost. WE discuss a sufficient and necessary condition for an (s,S) policy to be optimal in the class of such stochastic inventory models. Furthermore, we explore how such a sufficient and necessary condition can be rewritten when the demand distribution...

ON (s,S) INVENTORY SYSTEM WITH RANDOM LEAD TIME AND REPEATED DEMANDS

We consider an (s,S) inventory system with random lead time and repeated demands of unsatisfied demands from the orbit. Whenever the inventory level falls to the level s, an order is placed to bring the level to S. The quantity ordered is M = S− s. Demands to the system are served immediately if there is a positive inventory. Otherwise it will go to a pool of unsatisfied customers called orbit....

New analytical bounds on the average undershoot in an infinite horizon (s, S) inventory system

We provide new bounds on the average undershoot in an infinite horizon (s, S) inventory system with i.i.d demands with known moments up to order three. The two moment bound improves on Lorden’s bound (Ann. Math. Stat. 1970) for small values of S – s and low values of the coefficient of variation. The three moment bound provides further improvement for negatively skewed demands. The bounds are s...

Asymmetric (S,s) pricing: implications for monetary policy