In an earlier paper ("Some Models of Inventory and an Application", Management Science, Vol. 2, No. 4, July, 1956) the author analyzed four inventory systems which were referred to as Models I, II, III, IV. In the present paper the notion of equivalence of inventory systems is introduced and it...

Heuristic decision rules for the s, S policy in probabilistic inventory systems are proposed. The rules require only the knowledge of the mean and standard deviation of demand, probability of no demand, carrying and replenishing costs, desired availability, and leadtime. Numerical results are...