A coordinated vendor-buyer system considering loss and damage claims, insurance cost and stochastic lead time.
Ivan Darma WangsaHui-Ming WeeShih-Hsien TsengPublished in: Int. J. Syst. Assur. Eng. Manag. (2019)
Keyphrases
- lead time
- stochastic lead times
- optimal base stock levels
- supply chain
- assembly systems
- cost reduction
- inventory systems
- total cost
- periodic review
- replenishment policy
- lost sales
- demand distributions
- order quantity
- holding cost
- service level
- stochastic inventory
- setup cost
- single item
- single period
- lot sizing
- health insurance
- inventory control
- lot size
- information asymmetry
- sample path
- single stage
- poisson process
- base stock policy
- stochastic demand
- inventory costs
- random variables
- multi item
- expected cost
- base stock policies
- dual sourcing
- inventory models
- customer demand
- single product
- expected profit
- planning horizon
- production cost
- stochastic process
- risk management
- multistage