標題: Periodic review inventory models with stochastic supplier's visit intervals
作者: Chiang, Chi
管理科學系
Department of Management Science
關鍵字: Inventory model;Periodic review;Supply chain;Lost-sales;Dynamic programming
公開日期: 1-Oct-2008
摘要: Periodic review inventory models are widely used in practice, especially for inventory systems in which many different items are purchased from the same supplier. However, all periodic review models have assumed a fixed length of the review periods. In practice, it is possible that the review periods are of a variable length. Such periodic systems result mainly from supply uncertainties. For example, the supplier visits the downstream retailers and replenishes inventories for them, but does not always come in constant intervals. This may be because retailers are geographically dispersed in the supply chain, the supplier is in a relatively more powerful position, or the supplier simply does not have a reliable visit schedule. In such situations, the replenishment cycle length is random in nature. In this paper, we use dynamic programming to model such institutional contexts. We assume that the supplier's visit intervals are independently and identically distributed. With a suitable transformation. the back-logged periodic review model derived becomes a standard discrete-time model. The computation shows that ignoring the variability of the supplier's visit intervals can incur extremely large losses, especially if shortage is costly, demand variability is low, and/or the replenishment lead-time is short. (c) 2008 Elsevier B.V. All rights reserved.
URI: http://dx.doi.org/10.1016/j.ijpe.2008.03.012
http://hdl.handle.net/11536/8319
ISSN: 0925-5273
DOI: 10.1016/j.ijpe.2008.03.012
期刊: INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
Volume: 115
Issue: 2
起始頁: 433
結束頁: 438
Appears in Collections:Articles


Files in This Item:

  1. 000259893100016.pdf

If it is a zip file, please download the file and unzip it, then open index.html in a browser to view the full text content.