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Stochastic inventory control model with two stages in ordering process

Author

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  • Eugene Kopytov
  • Leonid Greenglaz
  • Fedor Tissen

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.

Suggested Citation

  • Eugene Kopytov & Leonid Greenglaz & Fedor Tissen, 2006. "Stochastic inventory control model with two stages in ordering process," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 7(1), pages 21-24.
    • Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:21-24
    DOI: 10.1080/16111699.2006.9636118
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