The newsboy problem under progressive multiple discounts

Article Abstract:

The newsboy problem was solved under the assumption that a series of multiple discounts were made to sell excess inventory. The problem involves the determination of the order quantity which optimizes the expected profit. Specifically, solutions were obtained with the objectives of maximizing the expected profit and maximizing the probability of meeting a profit goal, respectively. The results revealed that, compared to a single discount, multiple discounts lead to higher expected profits.

Discounts (Sales)

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Analysis of a (Q, r, T,) inventory policy with deterministic and random yields when future supply is uncertain

Article Abstract:

The problem of a stochastic inventory with uncertain future supply was explored. Specifically, an inventory model to characterize the availability and unavailability situation as a two-state continuous time Markov chain was developed to compute the reorder point. To obtain the latter, which refers to the inventory level and period of waiting prior to ordering, renewal reward theorem was used to build the long-run average cost objective function.

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A two reorder level inventory system with renewal demands

Article Abstract:

An (s,S) policy-based inventory system with two reorder levels, s(>0) and zero, and ordering quantities, Q > s and s, was examined. Specifically, a model to characterize the mean replenishment rates as a function of the inventory level and the number of pending orders was developed. In addition, the computation of the optimal order quantities which minimize the steady-state expected cost rate is discussed.

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