Newsvendor equations for optimal reorder levels of multi-echelon inventory systems with fixed batch sizes

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Abstract

We consider a stochastic serial inventory system with a given fixed batch size per stage and linear inventory holding and penalty costs. For this system, echelon stock (R,nQ) policies are known to be optimal. On the basis of new average costs formulas, we obtain newsvendor equations for the optimal reorder levels.
Original languageEnglish
Pages (from-to)551-556
Number of pages6
JournalOperations Research Letters
Volume36
Issue number5
DOIs
Publication statusPublished - 2008

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