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An inventory model with finite-range stochastic lead times. (English) Zbl 0566.90027

An interesting though classical inventory model with constant demand but stochastic lead times distributed over a finite range is the authors’ concern here. An elegant closed form expression is obtained under certain conditions for optimal order quantity, including only variance of lead time distribution. This is reminiscent of classical results. Detailed study is made of the special case where lead time is uniformly distributed.
Reviewer: B.W.Conolly

MSC:

90B05 Inventory, storage, reservoirs
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References:

[1] Liberatore, Operations Research 27 pp 391– (1979)
[2] Sphicas, Operations Research 30 pp 404– (1982)
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