The purpose of this study is to generalize Ouyang and Chuang's  model by allowing
target level, R, as a decision variable in conjunction with review period, T , and lead time,
L. Further, we also present a setup cost, A, reduction model for periodic review inventory
model to investigate the effect of the investment cost on inventory operating cost. For each
model, we develop an algorithm to find the optimal solution. Three numerical examples are
given in this study.
International journal of information and management Sciences 10(2), pp.13-23