Optimal ordering policies for periodic-review systems with a refined intra-cycle time scale

Chi Chiang*

*此作品的通信作者

研究成果: Article同行評審

15 引文 斯高帕斯(Scopus)

摘要

Chiang [C. Chiang, Optimal ordering policies for periodic-review systems with replenishment cycles, European Journal of Operational Research 170 (2006) 44-56] recently proposed a dynamic programming model for periodic-review systems in which a replenishment cycle consists of a number of small periods (each of identical but arbitrary length) and holding and shortage costs are charged based on the ending inventory of small periods. The current paper presents an alternative (and concise) dynamic programming model. Moreover, we allow the possibility of a positive fixed cost of ordering. The optimal policy is of the familiar (s, S) type because of the convexity of the one-cycle cost function. As in the periodic-review inventory literature, we extend this result to the lost-sales periodic problem with zero lead-time. Computation shows that the long-run average cost is rather insensitive to the choice of the period length. In addition, we show how the proposed model is modified to handle the backorder problem where shortage is charged on a per-unit basis irrespective of its duration. Finally, we also investigate the lost-sales problem with positive lead-time, and provide some computational results.

原文English
頁(從 - 到)872-881
頁數10
期刊European Journal of Operational Research
177
發行號2
DOIs
出版狀態Published - 1 3月 2006

指紋

深入研究「Optimal ordering policies for periodic-review systems with a refined intra-cycle time scale」主題。共同形成了獨特的指紋。

引用此