Periodic review inventory control with fluctuating purchasing costs

Authors:
Srinagesh Gavirneni
Affiliations:
Operations and Decision Technologies, Kelley School of Business, Indiana University, Bloomington, IN 47405, USA
Venue:
Operations Research Letters
Year:
2004

Citing 3
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Abstract

For an inventory control problem in which the purchasing cost changes (e.g. exchange rate fluctuations), we show that an order up to policy is optimal and determine conditions under which the optimal up to levels are monotonically ordered. We also propose a simple method for predicting the effectiveness of myopic heuristics.