This paper extends a fundamental result about single-item inventory systems. This approach allows more general performance measures, demand processes and order policies, and leads to easier analysis and implementation, than prior research. We obtain closed form expressions for the Laplace transforms of the expressions of the performance measures, and with the help of an efficient inversion algorithm, the approximations of these cost and service measures are almost up to machine precision.

inventory models
Capital; Investment (including Inventories); Capacity (jel E22)
Tinbergen Institute Discussion Paper Series
Tinbergen Institute

Bazsa-Oldenkamp, E.M, & den Iseger, P. (2001). Single Item Inventory Models (No. TI 01-101/4). Tinbergen Institute Discussion Paper Series. Retrieved from