Browsing by Author "Chu, Peter"

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Improved periodic review inventory model involving lead-time with crashing components and service level
(2008)
Liang, Shing-Ko
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Chu, Peter
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Yang, Kuo-Lung
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工業工程與管理學系
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Department of Industrial Engineering and Management
A periodic review inventory model with backorders and lost sales in which both lead-time and the periodic review length are decision variables and the production interval demand follows a normal distribution is explored in this article. Ouyang and Chuang discussed this problem in a recent paper published in the International Journal of Systems Science. However, their algorithms might not, although intended to, find the optimal solution due to questionable results in their solution procedure. The purpose of this study is 3-fold. First, the criteria for the existence and uniqueness of the critical solution for minimising the total expected annual cost are determined. Second, a correct and efficient algorithm to improve their method is constructed to find the optimal lead-time and periodic review length simultaneously. Finally, some numerical examples are provided to compare our solution procedure with that of Ouyang and Chuang's method to demonstrate their questionable results.
INVENTORY MODELS WITH A NEGATIVE EXPONENTIAL CRASHING COST TAKING TIME VALUE INTO ACCOUNT
(2008-09-01)
Deng, Peter Shaohua
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Lin, Robert Huang-Jing
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Hung, Chih-Young
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Chang, Jason
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Chao, Henry
This paper discusses the inventory replenishment policy over an infinite planning horizon with a negative exponential lead time crashing cost, taking time value into account. Out, work is based on the paper of Ben-Daya and Raouf that has been cited 65 times. We extend their model to incorporate the time value of money and then find the criterion to decide the optimal solution. Numerical examples illustrate our findings to demonstrate that we provide an easy and efficient procedure to find the optimal solution.
Research note on the criteria for the optimal solution of the inventory model with a mixture of partial backordering and lost sales
(2008-09-01)
Yang, Gino K.
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Chou, Shuo-Yan
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Hung, Chih-Young
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Lin, Jennifer Shu-Jen
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Chu, Peter
Perishable products are commonly seen in inventory management. By allowing shortages and backlogging, the impact on the cost from the decay of the products can be balanced out. In a recent paper published in Computers and Industrial Engineering [P.L. Abad, Optimal lot size for a perishable good under conditions of finite production and partial backordering and lost sale, Comput. Ind. Eng. 38 (2000) 457-465] considered a problem in such context. However, his algorithm was incomplete due to flaws in his solution procedure. The purpose of this note is to explore the same production inventory models with a mixture of partial backordering and lost sales for deteriorated items. We find the criteria for the optimal solution for different cases and derive a formulated minimum value. By theoretical analysis, we develop a few lemmas to reveal parameter effects and optimal solution procedure. The solutions are illustrated by solving the same examples from Abad's paper to illustrate the accuracy and completeness of our procedure. (c) 2007 Published by Elsevier Inc.