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Sensitivity of the (Q, R) inventory model to penalty cost parameter

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  • Chandrasekhar Das

Abstract

This paper treats an approximate continuous review inventory model with backlogging of excess demand and stochastic leadtime. The major result derived is that the behavior of the optimal order size with respect to the shortage cost parameter is determined solely by the “conditional mean residual life” function corresponding to the leadtime demand distribution. Some minor results and illustrative examples are also included.

Suggested Citation

  • Chandrasekhar Das, 1975. "Sensitivity of the (Q, R) inventory model to penalty cost parameter," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 22(1), pages 175-179, March.
    • Handle: RePEc:wly:navlog:v:22:y:1975:i:1:p:175-179
    DOI: 10.1002/nav.3800220114
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