Accession Number : AD0675286

Title :   MULTI-CLASS INVENTORY MODELS WITH DEMAND A FUNCTION OF INVENTORY LEVEL.

Descriptive Note : Technical rept.,

Corporate Author : DECISION STUDIES GROUP PALO ALTO CA

Personal Author(s) : Iglehart, Donald L. ; Jaquette, Stratton C.

Report Date : 16 SEP 1968

Pagination or Media Count : 19

Abstract : This report considers the problem of maintaining an inventory of an item which can deteriorate and become useless. Several models are considered. New items are assumed to be delivered immediately or after a delay. Items are considered to deteriorate through one or two states before becoming useless. Optimal and suboptimal ordering policies are obtained for these models which minimize ordering, shortage, and holding costs when the deterioration is assumed to depend on the number of items in the inventory. The policies are the single critical number type. (Author)

Descriptors :   (*INVENTORY, MATHEMATICAL MODELS), DEGRADATION, OPTIMIZATION, COSTS, PROBABILITY, DYNAMIC PROGRAMMING, THEORY.

Subject Categories : Logistics, Military Facilities and Supplies

Distribution Statement : APPROVED FOR PUBLIC RELEASE