Optimal (r, Q) policy in a stochastic inventory system with limited resource under incremental quantity discount

•We model a practical problem in stochastic inventory systems which has not been investigated yet.•We prove the essential properties of an optimal solution.•Presenting an algorithm based on the optimal properties which is able to find the optimal solution of the problem.•We examine our algorithm eff...

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Bibliographic Details
Published in:	Computers & industrial engineering Vol. 103; pp. 59 - 69
Main Authors:	Tamjidzad, Shahrzad, Mirmohammadi, S. Hamid
Format:	Journal Article
Language:	English
Published:	Elsevier Ltd 01.01.2017
Subjects:	(r, Q) policy Demand Discounts Incremental quantity discount Inventory Inventory management Limited price-dependent resource Mathematical models Optimization Policies Searching Stochastic discrete demand Stochasticity Stochastic discrete demand (r, Q) policy Limited price-dependent resource Inventory Incremental quantity discount
ISSN:	0360-8352
Online Access:	Get full text
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