Cost optimization in the (S-1,S) lost sales inventory model with multiple demand classes

A.A. Kranenburg, G.J.J.A.N. Houtum, van

Research output: Contribution to journalArticleAcademicpeer-review

41 Citations (Scopus)
1 Downloads (Pure)

Abstract

For the (S-1,S) lost sales inventory model with multiple demand classes that have different lost sales penalty cost parameters, three accurate and efficient heuristic algorithms are presented that, at a given base stock level, aim to find optimal values for the critical levels, i.e., values that minimize inventory holding and penalty cost. Keywords: Inventory; Multiple demand classes; Customer differentiation; Rationing; Lost sales
Original languageEnglish
Pages (from-to)493-502
Number of pages10
JournalOperations Research Letters
Volume35
Issue number4
DOIs
Publication statusPublished - 2007

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