A method for calculating optimal inventory levels and delivery time

Thomson M. Whitin · J. W. T. Youngs

23 citations0/0 files storedNaval Research Logistics Quarterly

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Supply Chain and Inventory Management Management and Optimization Techniques Logistics and Transportation Systems

Abstract

Abstract The following note is concerned with establishing an inventory control policy for items with extremely low demand. In the event that the expected savings in ordering cost that would result from buying in lots is less than the concomitant increase in carrying charges, it is uneconomical to use a lot size formula. In this event, it is appropriate to use a system consisting of placing orders as units are demanded.

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