STOCHASTIC INVENTORY CONTROL MODEL WITH TWO STAGES IN ORDERING PROCESS

Eugene Kopytov, Leonid Greenglaz, Fedor Tissen
2006 Journal of Business Economics and Management  
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.
doi:10.3846/16111699.2006.9636118 fatcat:pwb5nrpx65bircropqhfpdqiwa