Development approaches to Systematization and Impact Assessment of the Variety of Stock-Out Models

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MAGAZINE №6 (83) December 2017

AUTHORS  LUKINSKIY V.V.MAYEVSKIY A.G.

CATEGORY  Optimization and mathematical modelling Inventory management

ABSTRACT

The article deals with some aspects of systematization and classification of various inventory management models with an account for stock-out. The model with "loss of requisition " most rarely encountered in the theory of inventory management, but indisputably relevant because of its practical value, is discussed. The urgency of the stock-out problem in the modern world economy is accounted for by the information given in the article about the losses caused by the stock-out. Applying analytical approach when solving the stock-out problem can serve as a tool that will help solve long-standing problems of stock-out costs reduction. In this paper the calculation examples for key variants of stock-out models are given, and, the model with "lost demand" and its connection with a static problem is of particular interest. Calculation results comparison revealed the fundamental difference in models, which allowed to avoid mixing models that is often encountered in the literature. The result obtained during the research is the expansion of the approach to classification, and consequently, the opportunity to attract additional tools of the stock management theory to solve the stock-out problem, which ultimately aims at optimizing total logistics costs.

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