Inventory Control with Advance Demand Information When Demand is Intermittent
نویسندگان
چکیده
منابع مشابه
Inventory Control with Limited Capacity and Advance Demand Information
Manufacturers make production decisions and carry inventory to satisfy uncertain demand. When holding and shortage costs are high, carrying inventory could be even more expensive for a capacitated production system. Recent developments in information technology and sales strategies enabled firms to acquire, collect, or induce advance demand information. We address a periodic-review, stochastic,...
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It is important to share demand information among the members in supply chains. In recent years, production and inventory systems with advance demand information (ADI) have been discussed, where advance demand information means the information of demand which the decision maker obtains before the corresponding actual demand arrives. Appropriate production and inventory control using demand info...
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Advance demand information, when used effectively, improves the performance of production/inventory systems. The extent of improvement however depends on certain factors. We investigate the influence of random supply lead times on a single-stage inventory system with advance demand information. It is found that the supply lead time variability diminishes the benefits of advance demand information.
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Demand forecasting plays an important role in many inventory control problems. To mitigate the potential harms of model misspecification in this context, various forms of distributionally robust optimization have been applied. Although many of these methodologies suffer from the problem of time-inconsistency, the work of Klabjan, Simchi-Levi and Song [83] established a general time-consistent f...
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ژورنال
عنوان ژورنال: Business and Management Research
سال: 2012
ISSN: 1927-601X,1927-6001
DOI: 10.5430/bmr.v1n4p35