Simple solution procedures for a class of two-echelon inventory problems
Operations Research
Simulation-based optimization: practical introduction to simulation optimization
Proceedings of the 35th conference on Winter simulation: driving innovation
Economic production quantity models for deteriorating items with price- and stock-dependent demand
Computers and Operations Research
Computers and Industrial Engineering
A perishable inventory system with retrial demands and a finite population
Journal of Computational and Applied Mathematics
Continuous review (s, S) inventory system with random lifetimes and positive leadtimes
Operations Research Letters
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We consider an inventory system with one warehouse which faces independent Poisson demand. Inventory items are deteriorating at a constant rate and lead times are stochastic. Shortage is allowed and all the unsatisfied demands are backlogged. In addition replenishment is one for one. Our objective is to minimize long-run expected costs. We develop the analytical model for deterministic lead time. Since the stochastic lead time model is complicated especially when lead time has non-exponential distribution and it is difficult to prove convexity of our objective function, we have established simulation model which has no limitation for lead time or any other parameters. We validate our simulation model by comparing simulation and analytical models' results when lead time is deterministic. The results are very close. Furthermore, we try to find near optimal solutions for a number of examples with stochastic lead time by applying optimization module of the applied software.