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- W1990410369 abstract "Abstract Inventory systems are typically described as deterministic or stochastic, single, or multi-item, etc. The model reported in this research combines several such dichotomies, into a single model. It has the objective of deciding the optimal order quantities for a multi-item inventory system over a finite horizon. The demand is probabilistic with service level constraints, and there is an all-unit price break, for orders that exceed a given size. The solution approach uses a goal programming technique, in a mixed integer linear programming formulation. The model is analysed for sensitivity to deviations from the optimal policy, and inaccurate parameter estimation, including the demand distribution. In addition the optimal multi-item policy is compared to an optimal solution derived for each part type separately. Simulation experiments reveal that the model is not sensitive to inaccurate parameters nor to exact estimation of the demand distribution, thus aiding in reducing the control cost. It is als..." @default.
- W1990410369 created "2016-06-24" @default.
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- W1990410369 date "1991-08-01" @default.
- W1990410369 modified "2023-09-24" @default.
- W1990410369 title "All-unit discounts, multi-item inventory model with stochastic demand, service level constraints and finite horizon" @default.
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- W1990410369 doi "https://doi.org/10.1080/00207549108948035" @default.
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