In this paper we investigate the (R, S) periodic review, order-up-to level inventory control system with stochastic demand and variable leadtimes. Variable leadtimes can lead to order crossover, in which some orders arrive out of sequence. Most theoretical studies of order-up-to inventory systems under variable leadtimes assume that crossovers do not occur and, in so doing, overestimate the sta...

With the advent of technologies like RFID, it is now possible to track inventory in the real time. In case of RFID enabled Supply Chain the physical inventory and the system inventory is same, while in the traditional supply chain the physical inventory varies from the system inventory due to shrinkage, transaction and misplacement error. We developed a simulation model to study the traditional...

We consider a two-stage supply chain under centralized control. The downstream facility faces discrete stochastic demand and passes supply requests to the upstream facility. The upstream facility always meets the supply requests from downstream. If the upstream facility can not meet the supply requests from inventory on hand, the shortage must be filled by either overtime production and/or prem...

Retail inventory is a closely watched statistic by retailers as well as their investors, lenders and suppliers. Retailers not only benefit from inventory, but also bear the cost of excess inventory. Investors, lenders and suppliers interpret this statistic for signs of the retailer’s health, future sales prospects, and impending costs. This paper shows that inventory turnover, a commonly used m...

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,...

In most multi-item inventory systems, the ordering costs consist of a major cost and a minor cost for each item included. Applying for every individual item a cyclic inventory policy, where the cycle length is a multiple of some basic cycle time, reduces the major ordering costs. An e cient algorithm to determine the optimal policy of this type is discussed in this paper. It is shown that this ...

Although several studies have analyzed the interaction between the economics of production and process quality, most of them view quality from a very traditional perspective } reject when outside speci"ed limits, or else accept. Recent views on quality have shown that such a de"nition greatly underestimates the costs of poor quality and leads to sub-optimal decisions. The primary intent in this...

In this paper, we consider a network of supplier, producer, retailer and customer which synchronizes a series of inter-related business process in terms of integrated supply chain production inventory model. The whole system is considered for a finite time period with imprecise inventory costs. There are imprecise chance constraints on the transportation costs for both producer, retailer and al...

Labor hoarding is a widely believed empirical behavior of …rms and a prominent explanation for procyclical labor productivity. Conventional wisdom attributes labor hoarding to labor adjustment costs. This paper argues that the conventional wisdom is inadequate for understanding labor hoarding because it ignores the role of inventories. Since idle labor can be used to produce inventories, why do...

In most multi-item inventory systems, the ordering costs consist of a major cost and a minor cost for each item included. Applying for every individual item a cyclic inventory policy, where the cycle length is a multiple of some basic cycle time, reduces the major ordering costs. An e cient algorithm to determine the optimal policy of this type is discussed in this paper. It is shown that this ...