A two-demand-class inventory system with lost-sales and backorders |
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| Authors: | Yun Zhou |
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| Affiliation: | Department of Industrial Engineering, Tsinghua University, Beijing, 100084, China |
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| Abstract: | A periodic review inventory system serves two demand classes with different priorities. Unsatisfied demands in the high-priority class are lost, whereas those in the low-priority class are backlogged. We formulate the problem as a dynamic programming model and characterize the structure of the optimal replenishment policy. |
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| Keywords: | Inventory Demand class Priority Lost-sales Backorder |
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