Minimizing expected shortages in a multi-item inventory system
By: by Gilbert T. Howard
Contributors: Naval Postgraduate School (U.S.)
Publisher: Naval Postgraduate School
Published: 1971
Place of publication: Monterey, California
Language: eng
Number of pages: 38
Subjects: Mathematical models; Inventory control; Dynamic programming
Description: A formulation is given for minimizing the expected total number of shortages in a multi-item inventory system under a continuous review policy. The variable reorder levels and order quantities must be set to meet constraints on the average expected investment in on hand inventory and on the expected number of orders placed per unit time. Several approaches to the problem are presented. (Author)
Notes: Title from cover.

"January 1971"--Cover.

"NPS-55HK71011A"--Cover.

DTIC Identifiers: Shortages, inventory models, constraints, continuous review policies.

Author(s) key words: Inventory theory, minimize expected shortages, dynamic programming.

Includes bibliographical references (p. 34)

"Approved for public release; distribution unlimited"--Cover.

Technical report; 1971.

kmc/kmc 9/22/09.