Holding costs are traditionally determined from the investment in physical stock during a cycle. An alternative approach instead derives holding costs from Net Present Value (NPV) functions. It is known that applying both frameworks to the same system can lead to different holding cost...

Dial-a-ride problems are concerned with the design of efficient vehicle routes for transporting individual persons from specific origin to specific destination locations. In real-life this operational planning problem is often complicated by several factors. Users may have special requirements...

Classic inventory models use average cost functions. It is generally accepted that these models should account for the time value of money. They do so not by considering the timing of cash-flows, but by including opportunity costs. The Net Present Value (NPV) framework has long been used to...