Abstract:This study formulates a dynamical system for the control of a single product inventory system in accordance with the random value of demand and the percentage of damaged product during the delivery process. The formulated model has the form of a linear state-space system comprising of two disturbances, which represents the random value of demand and the percentage of the damaged product during delivery. The optimal value of the product amount ordered to the supplier is properly calculated by using the linear q… Show more
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