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Stochastic inventory control model with two stages in ordering process

    Eugene Kopytov Affiliation
    ; Leonid Greenglaz Affiliation
    ; Fedor Tissen Affiliation
DOI: https://doi.org/10.3846/16111699.2006.9636118

Abstract

The purpose of offered work is the construction of a stochastic single‐product inventory control model for the chain “producer – wholesaler – customer”. Given situation takes place in many transport and industrial companies. Criterion of optimization is minimum of average expenses for goods holding, ordering and losses from deficit per a time unit.


First published online: 14 Oct 2010

Keyword : inventory control, single‐product order, demand, lead time, chain, optimization

How to Cite
Kopytov, E., Greenglaz, L., & Tissen, F. (2006). Stochastic inventory control model with two stages in ordering process. Journal of Business Economics and Management, 7(1), 21-24. https://doi.org/10.3846/16111699.2006.9636118
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Mar 31, 2006
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This work is licensed under a Creative Commons Attribution 4.0 International License.