An Implementation of an Inventory Model with Stochastic Lead Time
Author: R. Heuts
Publisher:
Published: 1984
Total Pages: 30
ISBN-13:
DOWNLOAD EBOOKRead and Download eBook Full
Author: R. Heuts
Publisher:
Published: 1984
Total Pages: 30
ISBN-13:
DOWNLOAD EBOOKAuthor: Matthew John Liberatore
Publisher:
Published: 1976
Total Pages: 384
ISBN-13:
DOWNLOAD EBOOKAuthor: Robert Samuel Kaplan
Publisher:
Published: 1968
Total Pages: 72
ISBN-13:
DOWNLOAD EBOOKAuthor: Evan L. Porteus
Publisher: Stanford University Press
Published: 2002
Total Pages: 330
ISBN-13: 9780804743990
DOWNLOAD EBOOKThis book has a dual purpose?serving as an advanced textbook designed to prepare doctoral students to do research on the mathematical foundations of inventory theory, and as a reference work for those already engaged in such research. All chapters conclude with exercises that either solidify or extend the concepts introduced.
Author: Stephen M. Disney
Publisher: Now Publishers Inc
Published: 2008
Total Pages: 95
ISBN-13: 1601981325
DOWNLOAD EBOOKIn this review we focus on supply coordination and use the bullwhip effect as the key example of supply chain inefficiency. We emphasize the managerial relevance of the bullwhip effect and the methodological issues so that both managers and researchers can benefit.
Author: Richard Ehrhardt
Publisher:
Published: 1980
Total Pages: 29
ISBN-13:
DOWNLOAD EBOOKA stochastic lead time inventory model is analyzed under the assumptions that (1) replenishment orders do not cross in time and (2) the lead time distribution for a given order is independent of the number and sizes of outstanding orders. This study corrects errors in the existing literature on the finite-horizon version of the model and yields an intuitively appealing dynamic program that is nearly identical to one that would apply in a transformed model with all lead times fixed at zero. Hence, many results that have been derived for fixed lead time models generalized easily. Conditions for the optimality of (s, S) policies are established for both finite and infinite planning horizons. The infinite-horizon model analysis is extended by adapting the fixed lead time results for the efficient computation of optimal and approximately optimal (s, S) policies. (Author).
Author: Kumar Muthuraman
Publisher:
Published: 2013
Total Pages: 34
ISBN-13:
DOWNLOAD EBOOKThis article analyzes a continuous time back-ordered inventory system with stochastic demand and stochastic delivery lags for placed orders. This problem in general has an infinite dimensional state space and is hence intractable. We first obtain the set of minimal conditions for reducing such a system's state space to one-dimension and show how this reduction is done. Next, by modeling demand as a diffusion process, we reformulate the inventory control problem as an impulse control problem. We simplify the impulse control problem to a Quasi-Variation Inequality (QVI). Based on the QVI formulation, we obtain the optimality of the (s, S) policy and the limiting distribution of the inventory level. We also obtain the long run average cost of such an inventory system. Finally, we provide a method to solve the QVI formulation. Using a set of computational experiments, we show that significant losses are incurred in approximating a stochastic lead time system with a fixed lead time system, thereby highlighting the need for such stochastic lead time models. We also provide insights into the dependence of this value loss on various problem parameters.
Author:
Publisher:
Published: 1986
Total Pages: 1162
ISBN-13:
DOWNLOAD EBOOKAuthor: Roelof Kuik
Publisher:
Published: 1996
Total Pages: 19
ISBN-13:
DOWNLOAD EBOOKAuthor: Sven Axsäter
Publisher: Springer Science & Business Media
Published: 2013-04-17
Total Pages: 210
ISBN-13: 1475756062
DOWNLOAD EBOOKModem information technology has created new possibilities for more sophisticated and efficient control of supply chains. Most organizations can reduce their material flow costs substantially. Inventory control techniques are very important components in this development process. A thorough understanding of relevant inventory models is a prerequisite for successful implementation. I hope that this book will be a useful tool in acquiring such an understanding. Nearly ten years ago I wrote a Swedish book on inventory control. This previous book has been used in courses in production and inventory control at several Swed ish engineering schools and has also been appreciated by many practitioners in the field. Positive reactions from many readers have occasionally made me contemplate writing a new book in English on the same subject. Encouraging support of this idea from the Kluwer Editors Fred Hillier and Gary Folven finally convinced me to go ahead with the project. The result is this new book, which in many ways differs from its Swedish prede cessor. Some differences are due to recent developments in inventory control. Fur thermore, this new book is in a sense more theoretical. In particular, it is to a larger extent focused on creating a good basic understanding of different possible ap proaches when analyzing inventory models.