One-Period Order Quantity Strategy With Uncertain Match Between The Amount Received And Quantity Requisitioned

Abstract

We consider the single-period inventory problem in which the amount received is a random variable. Silver has investigated such a problem by analysing a general BOQ model, where he assumes a deterministic demand and develops analytic results for different situations concerning the relationship between the mean and standard deviation of the amount received and the quantity requisitioned. In this paper we incorporate those assumptions and formulate the equivalent single-period problem with stochastic demand. We derive the optimal order quantity for two demand distributions.

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