Time and quantity dependent waiting costs in a newsvendor problem with backlogged shortages.
Emmett J. Lodree Jr.Yeonjung KimWooseung JangPublished in: Math. Comput. Model. (2008)
Keyphrases
- order quantity
- lost sales
- replenishment policy
- lead time
- periodic review
- single item
- planning horizon
- inventory systems
- total cost
- inventory models
- ordering cost
- expected cost
- single period
- single stage
- stochastic inventory
- optimal policy
- service level
- stochastic demand
- finite horizon
- holding cost
- inventory management
- single server
- single product
- fixed cost
- setup cost
- infinite horizon
- lot sizing
- supply chain
- demand distributions
- production inventory
- cost savings
- waiting times
- dynamic programming
- inventory level
- upper bound
- state dependent
- misclassification costs
- markov decision processes
- steady state