A heuristic treatment of the lot-size reorder-point (Q,r) inventory model with stochastic demand on automotive liquified petroleum gas (LPG) converter industry (lost sales case)

Date of Publication

1985

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Applied Mathematics

College

College of Science

Department/Unit

Mathematics and Statistics

Abstract/Summary

Inventory is an integral part of almost every business entity and is intimately bound up with the essential purpose of the business which is sales or production. In view of this, any inventory problem has repurcussion to production or sales in which difficulty arises to identify any component of the problem as being inventory related in a strict sense. In making a study of the inventory system Enertrade, Inc. (a case analysis), the author1. formulates a heuristic mathematical model to quantitatively analyze the inventory system of the company 2. finds a proper inventory policy using stochastic models and3. applies the Lot-Size Reorder Point (Q, r) Model with stochastic demand in order to minimize the cost of inventory.

Abstract Format

html

Language

English

Format

Print

Accession Number

TU05756

Shelf Location

Archives, The Learning Commons, 12F Henry Sy Sr. Hall

Physical Description

77 leaves

Keywords

Heuristic programming; Stochastic processes; Inventory control; Liquefied petroleum gas industry

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