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In this paper we consider a periodic review order-up-to inventory system with capacitated replenishments, lost sales and zero lead time. We consider discrete demand. It is shown that the initial stock levels of the different review periods form aMarkov chain andwe determine the transitionmatrix. Furthermore we study for what probabilitymass functions of the review period demand theMarkov chain ...

The analysis of foodstuffs, such as rice, is of particular interest for nutrient elements present at high concentrations, and also for toxic elements such as cadmium that can be present at trace levels. The analysis is important to ensure product quality and safety, as well as determining product origin. Food scares related to contamination not only constitute a health risk but also undermine c...

Forecasting plays an important role in business, technology, climate and many others. As an example, effective forecasting can enable an organization to reduce lost sales, increase profits and more efficient production planning. In this paper, we present a parallel algorithm for short term forecasting based on a time series model called weighted moving average. Our algorithm is mapped on OTIS-m...

We study inventorymanagement problemswhere demands are revealed incrementally and procurement decisionsmust bemade before the demands are realized. There are no probabilistic distributions nor nontrivial bounds to characterize demands. We consider two cost minimization problems: (1) perishable products with lost sales and (2) durable products with backlogged demand. In both problems, costs are ...

This paper is concerned with long-run average cost minimization of a stochastic inventory problem with Markovian demand, fixed ordering cost, convex surplus cost, and lost sales. The states of the Markov chain represent different possible states of the environment. Using a vanishing discount approach, a dynamic programming equation and the corresponding verification theorem are established. Fin...

We consider the optimal control of a production inventory-system with a single product and two customer classes where items are produced one unit at a time. Upon arrival, customer orders can be fulfilled from existing inventory, if there is any, backordered, or rejected. The two classes are differentiated by their backorder and lost sales costs. At each decision epoch, we must determine whether...

To operate a multiple product manufacturing system under a CONWIP control policy, one must decide how to assign kanbans to products. With a fixed total number of kanbans in a competitive environment, the goal is to determine their allocation to product types in order to minimize lost sales equitably. In particular, we consider systems in which the products may make multiple visits to the same s...

We study an (s, S) production–inventory system with an attached Markovian service queue. A production facility gradually replenishes items in the inventory based on the (s, S) scheme, and the production process is assumed to be a Poisson process. In addition to the production–inventory system, c servers process customers that arrive in the system according to the Poisson process. The service ti...

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