In this paper we investigate the minimization process of the exact cost function for a continuous review (Q,R) inventory model with non-negative reorder point and fixed lead-time. Backorders are allowed and the unit shortage cost is used to determine the expected annual shortage cost. Provided...

With today's high cost of land acquisition observed in most countries, management can no longer afford large storage facilities to house their products. For this reason, one of the main concerns of inventory managers is to ensure that enough storage space is available upon the delivery of a...