An optimal (Q, r) policy for a multipart assembly system under stochastic part procurement lead times.

Okitsugu Fujiwara Dayani Sedarage

Published in: Eur. J. Oper. Res. (1997)

Keyphrases

assembly systems
lead time
periodic review
base stock policy
holding cost
stochastic demand
single product
optimal control
optimal base stock levels
inventory systems
replenishment policy
single item

inventory control
infinite horizon
base stock policies
expected profit
lot sizing
multistage
asymptotically optimal
finite horizon
supply chain
optimal production
order quantity
dynamic programming

planning horizon
optimal policy
service level
dual sourcing
single stage
single period
lost sales
demand distributions
average cost
expected cost
control policies

random variables
supply chain management
state dependent
inventory policy
independent and identically distributed
poisson process
optimal solution
setup cost
stochastic optimization
total cost
decision making