Base Stock Policies For Periodic Review Inventory Systems

Download or read book Base Stock Policies for Periodic Review Inventory Systems written by Yanyi Xu and published by . This book was released on 2006 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study two stochastic inventory systems. The first part deals with an (s, S) system system, and the second part with an ( R, T) system. In a (s, S) system, the inventory position of a product is reviewed regularly (every T periods), and, if it is found to be below a threshold s, an order is placed to bring the item's inventory position to the level S. In a (R, T) system, an order is placed every T periods to bring the inventory up to the base stock R; it is a special case of an (s, S) system, with s set at minus infinity.