## Comparison of results when using a dynamic vs. a static model for solving a two period inventory problem |

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### Contents

H THE FIXED CYC IE INVENTORY PROBLEM | 6 |

SOLUTION TO A TWO PERIOD INVENTORY PROBLEM | 13 |

SENSITIVITY OF INVENTORY POLICIES TO THE | 29 |

### Common terms and phrases

arbitrary distribution assuming Chapter costs are considered curve cycle inventory problem decrease demand distribution determined difference in expected discussion distribution of demand dynamic and static dynamic model equal to zero Equation 3:7 expected loss function expected storage cost expected value Exponential Distribution f(dg factors Figures XV fixed cycle inventory fixed ordering cost Herbert Scarf identically distributed initial inventory ith period Jacob Marschak Kenneth Arrow last period level of inventory linear ordering cost minimizing the expected n period number of periods obtain the expected optimal inventory policy optimal stockage level order is placed order the quantity ordering policy ordering takes place percentage difference period inventory problem period problem policy parameters present period purchase random variable ratios of c^/c savings resulting second period set equal shortage costs Slstat Solution to Sg solving static model storage and shortage thesis total expected loss uniform distribution value of c^/c vector of costs