SOLVING SINGLE-PERIOD INVENTORY MODEL PROBLEM | Asian Journal of Mathematics and Computer Research

When an item is ordered only once to meet the demand for the time, it is referred to as a single-item inventory model. The goal is to find the best order quantity for issues involving a single-period inventory model with probabilistic demand in the simplest and quickest way possible. Here The classical optimization method is used to determine the optimal order quantity for a single-period inventory model, while increment analysis is used to obtain the optimal order quantity for a multi-period inventory model. In a single-period inventory model with uniform probabilistic demand, we can observe that integration of demand density during the predicted period with regard to demand goes a long way. As a result, finding the best inventory strategy without employing the integral is possible. As a result, a new approach for solving single-period inventory model problems without integrating demand density within the period with respect to demand has emerged. It is critical to develop a new method for applying scientific inventory control and determining the best inventory policy for businesses.

Please see the link :- https://www.ikprress.org/index.php/AJOMCOR/article/view/6424