Optimal policy for multi-item systems with stochastic demands, backlogged shortages and limited storage capacity

In this paper, an inventory model for multiple products with stochastic demands is developed. The scheduling period or cycle known and prescribed. Demands are independent random variables they follow power patterns throughout the cycle. For each product, aggregate demand realized first then released to system gradually according within a These express different ways of drawing units from can be good approach modelling customer in systems. Shortages allowed fully backlogged. It assumed that warehouse where items stored has limited capacity. system, we determine policy maximizes expected profit per unit time. An efficient algorithmic proposed calculate optimal levels at beginning obtain maximum This applicable on-line sales wide variety products. type sales, customers do not receive time purchase, but sellers deliver goods few days later. Also, used represent inventories in-shop when withdrawal purchasing time, occurs after sale extends various systems studied by other authors. Numerical examples introduced illustrate theoretical results presented work.