Traditional computerised inventory control systems usually rely on exponential smoothing to forecast the demand for fast moving inventories. Practices in relation to slow moving inventories are more varied, but the Croston method is often used. It is an adaptation of exponential smoothing that 1) incorporates a Bernoulli process to capture the sporadic nature of demand and 2) allows the average...

This paper would firstly introduce the Single-Period Inventory Model, a basic method of inventory control. By analyzing Newsvendor Problem which is simplified situation storing inventories, this discover using normal distribution analysis to solve problem. Then, promote adoption into realistic problems and discuss its utility. Secondly, topic expanded Multi-Period System. system focus on more s...

We study the inventory control problem of a retailer working under stochastic demand and stochastic limited supply. We assume that the unfilled part of the retailer's order is fully backordered at the supplier and replenished with certainty in the following period. As it may not always be optimal for the retailer to replenish the backordered supply, we also consider the setting in which the ret...

We present a two-echelon dual-channel inventory model in which stocks are kept in both a manufacturer warehouse (upper echelon) and a retail store (lower echelon), and the product is available in two supply channels: a traditional retail store and an Internet-enabled direct channel. The system receives stochastic demand from two customer segments: those who prefer the traditional retail store a...