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A new approach to find the optimal solution for base stock policies

Shenas, N. Y ; Sharif University of Technology | 2009

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  1. Type of Document: Article
  2. Publisher: 2009
  3. Abstract:
  4. 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
  5. Keywords:
  6. Backordered demand ; Base stock model ; Continuous review ; Inventory system ; Poisson demand ; Backordered demand ; Base stock ; Continuous review ; Inventory systems ; Poisson demands ; Cost functions ; Optimal systems
  7. Source: Journal of Applied Sciences ; Volume 9, Issue 4 , 2009 , Pages 789-793 ; 18125654 (ISSN)
  8. URL: https://scialert.net/fulltext/?doi=jas.2009.789.793