Retailer's Optimal Procurement Strategy under Supply Disruption and Stochastic Demand: Backup Sourcing or Simultaneous Sourcing.
Feng LinJinzhao ShiPeng WuXingxuan ZhuoPublished in: Complex. (2020)
Keyphrases
- dual sourcing
- stochastic demand
- lead time
- supply chain
- inventory control
- supply chain management
- infinite horizon
- uncertain demand
- ordering policy
- inventory policy
- single item
- total cost
- service level
- reverse auction
- customer demand
- single product
- inventory models
- inventory systems
- lot sizing
- lost sales
- order quantity
- inventory management
- periodic review
- optimal strategy
- holding cost
- decision making
- multi attribute
- finite horizon
- production planning
- random variables
- setup cost
- utility function
- optimal policy
- dynamic programming