Optimal reorder point inventory models with variable lead time and backorder discount considerations.
Jason Chao-Hsien PanMing-Cheng LoYu-Cheng HsiaoPublished in: Eur. J. Oper. Res. (2004)
Keyphrases
- reorder point
- lead time
- inventory models
- total cost
- fixed cost
- order quantity
- lost sales
- inventory control
- service level
- holding cost
- single period
- setup cost
- planning horizon
- lot size
- lot sizing
- finite horizon
- single item
- periodic review
- inventory systems
- supply chain
- inventory level
- demand distributions
- infinite horizon
- single product
- average cost
- inventory policy
- ordering cost
- single stage
- stochastic demand
- optimal solution
- optimal policy
- random variables
- markov decision processes
- cost function
- production process
- production cost
- upper bound