MANAGERIAL INVENTORY FORMULATIONS WITH STOCKOUT OBJECTIVES AND FISCAL CONSTRAINTS.

Roger G. Schroeder

Research output: Contribution to journalArticlepeer-review

14 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)375-388
Number of pages14
JournalNaval Research Logistics
Volume21
Issue number3
DOIs
StatePublished - Jan 1 1974

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