In this paper, a continuous review inventory system is considered in which an order in a batch of size Q is placed immediately after the inventory position reaches R. Transportation time is constant and demands are assumed to be generated by a stationary Poisson process with one unit demand at a time. Demands not covered immediately from the inventory are backordered. In a recent paper, the exa...

Motivated to apply sustainable supply chain principles to air-pollution control systems, this paper presents a dynamic inventory-management approach where substitution is possible to maintain these systems’ equipment. An air-pollution control system’s subsequent reliability depends on the replacement equipment selected. The corresponding problem is formulated as a stochastic dynamic program. Be...

In this work, a discrete event supply chain is modeled from the point of view of one of the members. The model takes into account uncertainty and determines an optimal ordering policy so that profit is maximized and financial risk is controlled. Two cases are considered. In one case, the behavior of the other members of the chain is known and the demand is uncertain while in the other case the ...

Equality of opportunity is concerned with the level-the-playing-field principle: society should compensate individuals who suffer from bad circumstances but let the agents exercise their responsibility. This paper proposes a partial ordering based on the inequality-of-opportunity curve, a mechanism that gives preference to those who are worse in terms of opportunity. Moreover, it is provided a ...

In this study, the effect of a temporary price discount for a larger order than the regular order offered by the supplier on the retailer’s ordering policy is studied. The demand is assumed to be stock-dependent. The units in inventory deteriorate at a constant rate. This study will help the retailer to take the decision whether to adopt a regular or special order policy. The optimum special qu...