Optimization of two-stage production/inventory systems under order base stock policy with advance demand information
نویسندگان
چکیده
منابع مشابه
Advance Demand Information and a Restricted Production Capacity: on the Optimality of Order Base- Stock Policies
This paper considers the optimality of order aggregation in a single-item productioninventory problem with advance demand information and a restricted production capacity. The advance demand information is modeled by introducing a positive customer order lead time. The paper proves, when customer order lead times are less than a threshold value, it is allowed to aggregate the orders over time w...
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Customers with positive demand lead times place orders in advance of their needs. A portfolio of customers with different demand lead times gives rise to what we call advance demand information. We develop effective inventory policies for a distribution system to account for this information. In particular, we study a centralized system with one warehouse serving multiple retailers under advanc...
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We develop an inventory model to determine optimal ordering policy under permissible delay in payment by considering demand rate to be stock dependent. Mathematical models are derived under two different cases: credit period being greater than or equal to cycle time for settling the account, and credit period being less than or equal to cycle time for settling the account. The results are illus...
متن کاملInventory Systems with Advance Demand Information and Random Replenishment Times
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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ژورنال
عنوان ژورنال: Journal of Industrial Engineering International
سال: 2016
ISSN: 1735-5702,2251-712X
DOI: 10.1007/s40092-016-0161-y