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Explicit formulas for the order size and reorder point in certain inventory problems

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  • Chandrasekhar Das

Abstract

This study concentrates on distributions of leadtime demand that permit explicit solution to the lot‐size, reorder point model. The optimal order size for the general case is first expressed as a function of the economic order quantity and a quantity known as the “residual mean life” in reliability theory. The concept of “no aging” is then utilized to identify a broad class of distributions for which the optimal order size can be determined explicitly, independent of the reorder point.

Suggested Citation

  • Chandrasekhar Das, 1976. "Explicit formulas for the order size and reorder point in certain inventory problems," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 23(1), pages 25-30, March.
    • Handle: RePEc:wly:navlog:v:23:y:1976:i:1:p:25-30
    DOI: 10.1002/nav.3800230104
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    Cited by:

    1. Amílcar Oliveira & Teresa Oliveira & Antonio Seijas-Macías, 2018. "The uniform distribution product: an approach to the inventory model using R," Journal of Applied Statistics, Taylor & Francis Journals, vol. 45(2), pages 284-297, January.
    2. Bong‐Geun An & Stergios B. Fotopoulos & Min‐Chiang Wang, 1989. "Estimating the lead‐time demand distribution for an autocorrelated demand by the pearson system and a normal approximation," Naval Research Logistics (NRL), John Wiley & Sons, vol. 36(4), pages 463-477, August.
    3. Mahmut Parlar & Defne Berkin, 1991. "Future supply uncertainty in EOQ models," Naval Research Logistics (NRL), John Wiley & Sons, vol. 38(1), pages 107-121, February.

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