On the global optimal solution to an integrated inventory system with general time varying demand, production and deterioration rates

Article Abstract:

A study was conducted to analyze a unified inventory framework for integrated production system supporting a single product. The production, demand and deterioration rates for the finished product and deterioration levels for raw materials were represented as functions of time. The optimal values for the length of the production stage and inventory cycle minimizing the total variable cost of the unified inventory system were also determined. Results indicated that the solution to the inventory systems is with a novel global optimal solution.

Production Management, Production Planning & Control, Planning, Production control, Production planning

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Optimal replenishment for a periodic review inventory system with two supply modes

Article Abstract:

A study on periodic inventory system with two resupply modes, regular and emergency, is presented and simple procedures are developed for computing the optimal parameters. The results show that optimal order-up-to level is obtained by solving a myopic cost function.

Analysis, Mathematics problems

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Optimal inventory replenishment policy for a queueing system with finite waiting room capacity

Article Abstract:

A mathematical model solving the inventory control problem in a facility providing a single type of service to customers is presented. The model addresses the problem of queueing system in a finite waiting room and non-instantaneous replenishment process.

South Korea, Usage, Mathematical models, Queuing theory

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