This paper considers the comparison of two (s,S) production inventory systems with retrials of unsatisfied customers. The time for producing and adding each item to the inventory is exponentially distributed with rate β. However, a production rate αβ higher than β is used at the beginning of...

Returns of merchandise occur commonly in the retail and rental businesses. This paper presents a new continuous review (s, S) inventory system with returns. The system is fairly complicated as its performance is a function of important factors such as demand rate, return time, return rate and...

In a recent paper, Fisher et al. (2001) present a method tomitigate end-effects in lot sizing by including a valuation term for end-of-horizon inventory in the objective function of the short-horizon model. Computational tests show that the proposed method outperforms the Wagner-Whitin algorithm...

This chapter reviews recent developments in analyzing single product dynamic models of joint inventory and pricing decisions. Recent literature has significantly generalized the basic model of Federgruen and Heching (1999) on both demand and supply dimensions. In our review, we put a particular...

A perishable item is one that has constant utility up until an expiration date (which may be known or uncertain), at which point the utility drops to zero. This includes many types of packaged foods such as milk, cheese, processed meats, and canned goods. It also includes virtually all...