TY - JOUR
T1 - MANAGERIAL INVENTORY FORMULATIONS WITH STOCKOUT OBJECTIVES AND FISCAL CONSTRAINTS.
AU - Schroeder, Roger G.
PY - 1974/1/1
Y1 - 1974/1/1
N2 - Most inventory formulations seek to minimize the sum of ordering costs, holding costs, and stockout costs; however, management often directs inventory policy by specifying a maximum investment level and/or a purchasing budget constraint. Within these limitations, they expect lower level managers to optimize some level of customer satisfaction, such as minimum stockouts or minimum shortages. The author has developed several cases of these ″managerial″ inventory formulations and has presented some computational results.
AB - Most inventory formulations seek to minimize the sum of ordering costs, holding costs, and stockout costs; however, management often directs inventory policy by specifying a maximum investment level and/or a purchasing budget constraint. Within these limitations, they expect lower level managers to optimize some level of customer satisfaction, such as minimum stockouts or minimum shortages. The author has developed several cases of these ″managerial″ inventory formulations and has presented some computational results.
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U2 - 10.1002/nav.3800210302
DO - 10.1002/nav.3800210302
M3 - Article
AN - SCOPUS:0016099803
SN - 0894-069X
VL - 21
SP - 375
EP - 388
JO - Naval Research Logistics Quarterly
JF - Naval Research Logistics Quarterly
IS - 3
ER -