Optimum ordering policies with lead time for an operating unit

Optimum ordering policies when order costs depend on time

— This paper considers optimum ordering policies minimizing the expected cost per unit time in the steady-state. It is assumed that a lead time for the spare is constant and order costs depend on time. It is shown in theorem that there exists afinite and unique optimum ordering policy under certain conditions.

Optimal ordering policies with convertible lead times

A firm receives orders that will be required at an uncertain time given by an Erlang distribution, and over time observes the associated independent exponential events. The firm, in turn, places orders at a linear cost from a supplier with fixed lead time l and has the option of converting (expediting) each order, at a cost, over a certain time interval after the order is originally placed. A c...

Optimum Replacement Policies for a Used Unit

In many situations, it may be more economical to use a used unit than to do a new one. This paper considers an age replacement policy and a periodic replacement policy with minimal repair at failure for a used unit of age x. We discuss optimum replacement policies which minimize the expected cost rates for a specified age x. Further, we obtain an upper bound of an optimum time for an age replac...

Coordinated and Joint Ordering Policies for Two Commodity Inventory System

A multiple objective approach for joint ordering and pricing planning problem with stochastic lead times

The integration of marketing and demand with logistics and inventories (supply side of companies) may cause multiple improvements; it can revolutionize the management of the revenue of rental companies, hotels, and airlines. In this paper, we develop a multi-objective pricing-inventory model for a retailer. Maximizing the retailer's profit and the service level are the objectives, and shorta...