In this paper we give a comparative overview on research works dealing with replenishment policies. Following recalls of the inventory control concepts, a recent literature review is given relating to spare parts. Cited works are classified into two categories, those who consider inventory control as statistic and the others, as dynamic. For each category, works about economic order quantity an...

We consider a finite-horizon single-product periodic-review inventory management problem with demand distribution uncertainty. We formulate the problem as a dynamic program and prove the existence of an optimal (s, S) policy. The corresponding dynamic robust counterpart models are then developed for the box and the ellipsoid uncertainty sets. These counterpart models are transformed into tracta...

This paper deals with divergent logistic networks where the inventory at each node is controlled using a periodic review strategy with order-up-to level. An approximate method is presented to analyse the network performance (service levels, mean physical stock). The method is tested on a range of Z-echelon and 3-echelon networks by comparison to results from Monte Carlo simulation. We conclude ...

The demand for power keeps rising with rapid economic development and growth of industrialization. The frequent mismatch created between demand and supply can be mitigated by the use of energy buyback programs. This papermodels a buy-back programusing a periodic review joint pricing and inventory model, incorporating compensations and setup cost over finite planning horizons. It is shown that a...

This paper considers a single-item, periodic-review inventory model with uncertain demands. We assume a finite production capacity in each period. With stationary data, a convex one-period cost function and a continuous demand distribution, we show (under a few additional unrestrictive assumptions) that a modified basic-stock policy is optimal under the discounted cost criterion, both for finit...

Using a generalization of Scarf's K-convexity, we are able to show that the optimal policy for the periodic review inventory problem with xed ordering costs and nite capacity has an (s; S)-like structure. In particular, we are able to divide the parameter space into four regions. In two of these regions the optimal policy is completely speci ed. In the other two, it is partially speci ed.

We consider a single-echelon, single-item inventory system where both demand and lead-time are stochastic. Continuous review policy is used to control the inventory system. The objective is to calculate the reorder point level under stochastic parameters. A case study is presented in Neonatal Intensive Care Unit. Keywords—Inventory control system, reorder point level, stochastic demand, stochas...

We analyze an infinite horizon, single product, periodic review model in which pricing and production/inventory decisions are made simultaneously. Demands in different periods are identically distributed random variables that are independent of each other and their distributions depend on the product price. Pricing and ordering decisions are made at the beginning of each period and all shortage...

The stochastic cash balance problem is a periodic review inventory problem faced by a firm in which the customer demands might be positive or negative. At the beginning of each time period, the firm may decide to replenish the inventory or return excess stock. Both the ordering cost and the return cost include a fixed component and a variable component. A holding or penalty cost is charged depe...