The paper takes the operation center of D company as an example, studies the packing material inventory control. Grouping by ABC classification, the paper establishes the joint order of multi-item inventory control model to determine the optimal order cycle, achieving the purpose of reducing inventory levels and inventory cost. Keywords-packing materials; inventory; joint order; multi-item

We consider a liquid type of a deteriorating item which is packaged by an outside supplier and is delivered to final customers by a distributor. Customers arrive according to a Poisson process and ask for an integer number of packages. Unsatisfied demands are backordered. The inventory is reviewed continuously and replenished from an external supplier with a positive deterministic lead time fol...

Most inventory management systems at hospital departments are characterised by lost sales, periodic reviews with short lead times, and limited storage capacity. We develop two types of exact models that deal with all these characteristics. In a capacity model, the service level is maximised subject to a capacity restriction, and in a service model the required capacity is minimised subject to a...

In this paper, we propose a simple heuristic approach for the inventory control problem with stochastic demand and multiplicative random yield. Our heuristic tries to find the best candidate within a class of policies which are referred to in the literature as the linear inflation rule (LIR) policies. Our approach is computationally fast, easy to implement and intuitive to understand. Moreover,...

We consider the problem of determining the optimal ordering and reordering policy for an inventory where the entire stockwill simultaneously become obsolete at some (typically random) time, T . Manymanufacturing, publishing, distribution, and high tech businesses face the challenge of maintaining inventories that do not age in the conventional sense; instead, they suddenly become obsolete and l...

Product returns are characterized by considerable uncertainty on time and quantity. In the literature on inventory management for product return environments best forecasts of future returns are associated with methods that use the most information regarding product return history. In practice, however, data is often scarce and unreliable, while forecasts based on historical data, reliable or n...

Consider an inventory model which consists in controlling the level of stock of a single product where the demands D1, D2, . . . for the product in periods 1, 2, . . . are independently and identically distributed i.i.d random variables with density function ψ, and finite mean μ < ∞. Assume that at the beginning of each period the system is reviewed and we are allowed to increase the level of s...