On the single resource capacity problem for multi-item inventory systems

On the single resource capacity problem for multi-item inventory systems

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Article ID: iaor19911213
Country: United States
Volume: 38
Issue: 4
Start Page Number: 189
End Page Number: 195
Publication Date: Jul 1990
Journal: Operations Research
Authors: ,
Abstract:

In this paper, the authors study multi-item inventory systems under a single resource capacity constraint. In contrast to most previous approaches, they treat the capacity as a decision variable, and not as given data. This is consistent with many practical cases where additional capacities/resources can be acquired/rented at some cost/profit. Two solutions procedures are developed for deriving an optimal policy within the class of policies that has a fixed cycle for all items with phasing of orders within the cycle. These solution procedures can be applied to various types of cost functions, as illustrated by an example.

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