A family of inventory models in which demand is allowed to change with time is studied. One general model is presented which includes every member of the "family" as a special case. The general model assumes that demand is a random variable. The mean rate of demand may vary over time but demands...

The purpose of this note is to generalize the optimal final inventory model presented previously [Hadley, G., T. M. Whitin. 1961. An optimal final inventory model. Management Sci. 7(2) 179-183]. Two generalizations are made. First, the mean demand is allowed to vary with time so that dynamic...

This note compares the optimal order quantities determined by minimizing the average annual cost and by minimizing the discounted cost over all future time for the simplest imaginable type of inventory model in which the demand rate is assumed to be deterministic and no stockouts are allowed. By...

A model is developed which allows the determination of the optimal inventory level for an item at any time if no additional procurements are to be made. It is assumed that the item has a known date of obsolescence and that the demand is Poisson distributed with a fixed mean over the useful life...

An inventory control model in which the state of the system is reviewed only at discrete, equally spaced time intervals is studied. A procurement is made if at the review period the inventory position of the system is less than or equal to a number k. The quantity procured is an integral...