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Managerial inventory formulations with stockout objectives and fiscal constraints

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  • Roger C. Schroeder

Abstract

Most inventory formulations seek to minimize the sum of ordering costs, holding costs, and stockout costs: however, management often directs inventory policy by specifying a maximum investment level and/or a purchasing budget constraint. Within these limitations, they expect lower level managers to optimize some level of customer satisfaction, such as minimum stockouts or minimum shortages. The author has developed several cases of these “managerial” inventory formulations and has presented some computational results.

Suggested Citation

  • Roger C. Schroeder, 1974. "Managerial inventory formulations with stockout objectives and fiscal constraints," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 21(3), pages 375-388, September.
    • Handle: RePEc:wly:navlog:v:21:y:1974:i:3:p:375-388
    DOI: 10.1002/nav.3800210302
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    Cited by:

    1. Zhu, Xiaoyan & Wang, Jun & Yuan, Qi & Zhang, Zhe, 2022. "Multi-stream (Q,r) model and optimization for data prefetching," European Journal of Operational Research, Elsevier, vol. 302(1), pages 130-143.

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