Inventory Policy Determination for Raw Materials in ILY Pharmaceutical using Periodic Review (R, s, S) and Periodic Review (R, S) Method to Minimize Total Inventory Cost

Strong Stability in an (R, s, S) Inventory Model

In this paper, we prove the applicability of the strong stability method to inventory models. Real life inventory problems are often very complicated and they are resolved only through approximations. Therefore, it is very important to justify these approximations and to estimate the resultant error. We study the strong stability in a periodic review inventory model with an (R, s, S) policy. Af...

An Efficient Computational Method for Non-Stationary (R,S) Inventory Policy with Service Level Constraints

This paper provides an efficient computational approach to solve the mixed integer programming (MIP) model developed by Tarim and Kingsman (2004) for calculating the parameters of an (R,S) policy in a finite horizon with nonstationary stochastic demand and service level constraints. Given the replenishment periods, we characterize the optimal order-up-to levels for the MIP model and use it to g...

▲ ❡ ♥♦♠❜r ❡ ❞ ❡ s✉❥❡ts ❞❛♥s ❧❡s ♣❛♥❡❧s ❞✬❛♥❛❧s ❡ s❡♥s♦r✐❡❧❧ ❡ ✿ ✉♥ ❡ ❛♣♣r♦❝❤ ❡ ❜❛s ❡ ❞ ❡ ❞♦♥♥é❡s

Review of Teacher ’ s School Readiness Inventory

The Teacher’s School Readiness Inventory (TSRI), developed by Marvin L. Simner of the University of Western Ontario, is a five-item teacher rating scale designed to help prekindergarten and kindergarten teachers “make proper referral decisions” (scoring manual, p. 2) for children who are “at risk for school failure” (p. 12). Using a 5-point Likert-type scale, a teacher rates each child on distr...

Periodic Review Inventory Policy for Perishables with Random Lifetime

ABSTRACT: We consider a periodic review inventory system for perishable items with lost sales. Demands arrive according to a Poisson process. The lifetime of each item is exponentially distributed and the procurement lead time is constant. This type of modeling is motivated by the recent application of the so called Time Temperature Technologies. With this technology, it is possible to detect a...