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A BASIC INVENTORY MODEL
THE COMMON INVENTORY MANAGEMENT PROBLEM
MODIFIED REORDER POINT SYSTEM WITH PERIODIC INVENTORY COUNTS
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actual sales annual application average inventory average sales back orders batch buffer stock buyer calculations cash cent changes Chapter considered cycle decision rules delivery demand determine dollar economic order quantity effect equations evaluate example exponential distribution exponential smoothing factor formula function holding cost increase installation inven inventory control inventory investment inventory level inventory management system inventory models inventory problems lead linear programming manufacturing mathematical maximum method minimum month moving average multiple reorder nomograph normal distribution number of items number of orders number of units obtained operation Operations Research optimal output period Poisson distribution probability procedures production profit punched card purchase queue queue model reduced replenishment retail safety stock scale schedule seasonal service level shortage cost shown in Exhibit simulation solution stage standard deviation stock level stock-out percentage tion trend variable cost variations vendor releasing warehouse zero