On Real-Time Accounting of Inventory Costs in the Newsvendor Model and Its Effect on the Service Level

The newsvendor model is the cornerstone of most periodic inventory models; however, it distorts the correct timing of inventory costs and thus misses the optimal solution of the inventory system. This work presents a modification of the classical newsvendor model that considers the holding cost according to the stock-levels within the selling period rather than according to the stock-level at the end of it. The selling period (for example, a season) is divided into equal-time epochs (for example, one-day epochs), where demands are not necessarily identical across epochs or independently distributed. A mathematical model is formulated to find the optimal order quantity which maximizes the expected profit. We show: 1) that the profit function is concave; 2) that the structure of the optimality equation is similar to that of the classical newsvendor model; 3) how to attain the real tradeoff between the expected profit and the service level. Finally, we propose three heuristics to approximate the optimal order quantity and two bounds on its value, which are easy to implement in practice, and evaluate their performances using extensive numerical examples in a factorial experimental design

Pharmacological treatment of epilepsy and related seizures

Epilepsy, a complicated condition influencing people all over the world,as a physicians it is important to diagnose it correctly and exclude all the differential diagnosis and choice the pharmacological treatment. It is always important to keep in mind the drug interactions and the most common side effects for the given drug.egységes, osztatlanáltalános orvosango

AN EOQ MODEL FOR ITEMS WITH A FIXED SHELF-LIFE AND A DECLINING DEMAND RATE BASED ON TIME-TO-EXPIRY TECHNICAL NOTE

This work presents an extension of the classical EOQ model for items with a fixed shelf life and a declining demand rate due to a reduction in the quality of the item in the course of its shelf-life. The demand rate, reflecting consumer preference for fresh items, is a polynomial function of the remaining time until the expiry date of the item. A mathematical model is developed to maximize the average profit per unit time, subject to shelf-life and marginal profit limitations. We prove that based on these limitations the model has a unique optimal solution and suggest a procedure for finding the optimal cycle length. A numeric example, including a sensitivity analysis, illustrates the model.Inventory, time-based demand rate, shelf-life, expiry date

Eliminating the thermal softening of dynamically loaded specimens in the Kolsky bar system by multi-step loading

We performed series of multi-step loading tests in our Kolsky bar system, and demonstrated that the thermal softening in strong aluminum alloys can be eliminated by multi-step loading. We showed that there is a significant difference in their stress-strain curves, compared with the result of a single shot test, due to adiabatic heating. The tests were carried out using our interferometry-based system, where the bar velocities are measured directly rather than the strains. The optical technique has several advantages over traditional strain gauge measurements; it is non-intervening, highly repeatable, and more accurate at low strains, thus allowing good estimation of the dynamic yield point in these experiments