We introduce a novel strategy to address the issue of demand estimation in single-item single-period stochastic inventory optimisation problems. Our strategy analytically combines confidence interval analysis and inventory optimisation. We assume that the decision maker is given a set of past...

We consider a single-product make-to-stock manufacturing–remanufacturing system. Returned products require remanufacturing before they can be sold. The manufacturing and remanufacturing operations are executed by the same single server, where switching from one activity to another does not...

In this paper, a two-degrees-of-freedom Internal Model Control structure is incorporated in production inventory control for a supply chain system. This scheme presents an intuitive and simple parametrization of controllers, where inventory target tracking and disturbance (demand) rejection in...

A stochastic version of the economic lot sizing problem with pricing is presented. The control variables of the stochastic problem are the production quantities and cycle lengths for each product. The recourse variables are the sales prices and the external purchase quantities in each production...

The interaction between forecast and inventory control has been under-exposed in the literature. This paper introduces a combined forecast-inventory control procedure that is appropriate especially for the lumpy demand character of spare parts. The proposed procedure is succesfully implemented...