We consider a single-product inventory system that serves multiple demand classes, which differ in their shortage costs or service level requirements. We assume a critical-level control policy, and show the equivalence between this inventory system and a serial inventory system. Based on this equivalence, we develop a model for cost evaluation and optimization, under the assumptions of Poisson ...

It is important to share demand information among the members in supply chains. In recent years, production and inventory systems with advance demand information (ADI) have been discussed, where advance demand information means the information of demand which the decision maker obtains before the corresponding actual demand arrives. Appropriate production and inventory control using demand info...

This paper develops a method for solving the single product multi-period production-planning problem, in which the production and the inventory costs of each period arc concave and backlogging is not permitted. It is also assumed that the unit variable cost of the production evolves according to a continuous time Markov process. We prove that this production-planning problem can be Stated as a ...

in this research, an integrated inventory problem is formulated for a single-vendor multiple-retailer supply chain that works according to the vendor managed inventory policy. the model is derived based on the economic order quantity in which shortages with penalty costs at the retailers` level is permitted. as predicting customer demand is the most important problem in inventory systems and th...

In traditional inventory models such as the economic order quantity (EOQ) and the economic production quantity (EPQ) the sole objective is to minimize the total inventory-related costs, typically holding cost and ordering cost. These models do not consider the presence of defective products in the lot or rework of them. Recently, Jamal, Sarker, and Mondal (Jamal, A. A. M., Sarker, B. R., & Mond...