Optimal inventory strategies for an imperfect production system with advertisement and price reliant demand under rework option for defectives.
Prerna GautamSumit MaheshwariAhmad HasanAmrina KausarChandra K. JaggiPublished in: RAIRO Oper. Res. (2022)
Keyphrases
- production system
- inventory policy
- optimal production
- production capacity
- production rate
- inventory level
- production process
- planning horizon
- multistage
- lot size
- inventory management
- stochastic demand
- expected cost
- supply chain
- optimal strategy
- single item
- production cost
- single period
- certainty factor
- holding cost
- lead time
- inventory control
- periodic review
- lot sizing
- ordering cost
- single product
- infinite horizon
- expected profit
- buffer allocation
- expert systems
- control structure
- order quantity
- manufacturing systems
- material handling
- raw material
- fixed cost
- state dependent
- group testing
- finite horizon
- service level
- production rules
- optimal solution
- joint replenishment
- optimal policy
- multiprocessor architecture
- base stock policies
- total cost
- long run