Inventory systems track the flow of raw materials, work in process and finished goods inventory from receipt to sale and shipment. Accountants use different methods of tracking inventory based on the ...

The perpetual inventory system has several advantages over a periodic system for businesses of all sizes. In a business using the periodic inventory method, purchases are recorded throughout the year ...

We consider a periodic-review, single-product inventory system with lost sales and positive lead times under censored demand. In contrast to the classical inventory literature, we assume the firm does ...