Note: Optimal base-stock policy for the inventory system with periodic review, backorders and sequential lead times

We show that well-known textbook formulae for determining the optimal base stock of the inventory system with continuous review and constant lead time can easily be extended to the case with periodic review and stochastic, sequential lead times. The provided performance measures and conditions for optimality are exact

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Year of publication:	2005-10-03
Authors:	Johansen, Søren Glud ; Thorstenson, Anders
Institutions:	Ehrvervøkonomisk Institut, Institut for Økonomi
Subject:	Inventory control \| optimisation \| stochastic

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Extent:	application/pdf
Series:	CORAL Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published as: Johansen, S G and Thorstenson, A, Note: Optimal Base-stock Policy for the Inventory System with Periodic Review, Backorders and Sequential Lead Times, International Journal of Inventory Research, Vol 1, No 1, 2008, pp 44-52 The text is part of a series CORAL Working Papers Number L-2006-02 10 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005802225