Minimizing Expected Shortages in a Multi-Item Inventory System,

Abstract

A formulation is given for minimizing the expected total number of shortages in a multi-item inventory system under a continuous review policy. The variable reorder levels and order quantities must be set to meet constraints on the average expected investment in on hand inventory and on the expected number of orders placed per unit time. Several approaches to the problem are presented. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1971
Accession Number
AD0727080

Entities

People

  • Gilbert T. Howard

Organizations

  • Naval Postgraduate School

Tags

DTIC Thesaurus Topics

  • Inventory
  • Investments

Readers

  • Applied Combinatorial Optimization and Logic Circuit Design.
  • Economics
  • Mathematical Modeling and Probability Theory.