Inventory control in a lost-sales setting with information about supply lead times

► Consider a periodically reviewed single-item inventory system (IS) in a lost sales setting. ► Compare an IS assuming informed lead times to an IS assuming uninformed lead times. ► Use DP to minimize the expected average total cost per time unit. ► Results show that information about supply lead times is of value. ► The best policy given information causes lower average cost compared to no information.