Inventory control systems aim to ensure that you have an adequate supply of whatever it is you sell to meet anticipated demand, while at the same time avoiding costly "overstock" situations. Inventory ...

This paper studies a single-item multi-period inventory model in which future prices of the purchased item are assumed to be determined by a Markovian stochastic process instead of being known with ...

The Journal of the Operational Research Society, Vol. 48, No. 10 (Oct., 1997), pp. 1013-1021 (9 pages) We consider a firm that manages its internal manufacturing operations according to a just-in-time ...