Models for Multi-Item Inventory Systems with Constraints.
Abstract
Constrained multi-item inventory systems with stochastic demands are addressed. The concept of Bad Buys is introduced and their temporal development is studied through a model which links the financial and line-item inventory control subsystems. The interaction of budget constraints and control policies having stochastic resource requirement are examined using a queueing model. Some line-item control systems in current use are shown to be incompatible with budget constrained financial control mechanisms. A model and solution procedure are furnished to guide the line-item inventory control subsystem in exercising adaptive control of a multi-item inventory with stochastic demands and fixed resources provided in successive fiscal periods. An interactive FORTRAN computer program is furnished which exploits the Generalized Lagrange Multiplier procedure in obtaining optimal or near-optimal integer solutions to a class of non-linear integer programming problems.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 1975
- Accession Number
- ADA013466
Entities
People
- William Edward Daeschner Jr
Organizations
- Naval Postgraduate School