This article is concerned with the (r, q) inventory model, where demand accumulates continuously, but the demand rate at each instant is determined by an underlying stochastic process. The primary ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

We propose a sample-average-approximation-based simulation optimisation approach for solving a two-echelon inventory problem containing a total cost objective function and multiple service-level ...