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

doi:10.1016/j.orl.2006.04.004

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

Operations Planning Accounting & Control

Research output: Contribution to journal › Article › Academic › peer-review

50 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 language	English
Pages (from-to)	493-502
Number of pages	10
Journal	Operations Research Letters
Volume	35
Issue number	4
DOIs	https://doi.org/10.1016/j.orl.2006.04.004
Publication status	Published - 2007

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

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",

author = "A.A. Kranenburg and \{Houtum, van\}, G.J.J.A.N.",

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AU - Houtum, van, G.J.J.A.N.

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AB - 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

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DO - 10.1016/j.orl.2006.04.004

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VL - 35

SP - 493

EP - 502

JO - Operations Research Letters

JF - Operations Research Letters

IS - 4

ER -

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

Abstract

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