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A new approach to find the optimal solution for base stock policies
, Article Journal of Applied Sciences ; Volume 9, Issue 4 , 2009 , Pages 789-793 ; 18125654 (ISSN) ; Eshraghniaye Jahromi, A ; Modarres, M ; Sharif University of Technology
2009
Abstract
In this study, the cost function of the defined system is derived first. Then, we prove this function is convex in the system's base stock level. Finally, based on the convexity of the cost function, the optimal solution for the base stock model is determined. For demonstrating the applicability of the proposed method, we resort to solving an example. © 2009 Asian Network for Scientific Information
An efficient procedure for computing an optimal (R, Q) policy in continuous review systems with poisson demands and constant lead time
, Article Scientia Iranica ; Volume 16, Issue 2 E , 2009 , Pages 128-137 ; 10263098 (ISSN) ; Eshraghnia Jahromi, A ; Modarres Yazdi, M ; Sharif University of Technology
Abstract
In this paper, a continuous review inventory system is considered in which an order in a batch of size Q is placed immediately after the inventory position reaches R. Transportation time is constant and demands are assumed to be generated by a stationary Poisson process with one unit demand at a time. Demands not covered immediately from the inventory are backordered. In a recent paper, the exact evaluation of batch-ordering policies for two-level inventory systems was derived. This evaluation is based on a recursive procedure for determining the exact policy costs in case of one-for-one replenishment policies. In this paper, we show how this result can be applied to find the optimal...