Computational algorithmic procedure of optimal inventory policy involving a negative exponential crashing cost and variable lead time demand.
Jong-Wuu WuWen-Chuan LeeHui-Yin TsaiPublished in: Appl. Math. Comput. (2007)
Keyphrases
- inventory policy
- lead time
- service level
- supply chain
- ordering cost
- dual sourcing
- periodic review
- infinite horizon
- expected profit
- multi item
- inventory models
- fixed cost
- inventory control
- inventory systems
- setup cost
- single item
- finite horizon
- total cost
- holding cost
- planning horizon
- lot sizing
- single product
- lot size
- lost sales
- production cost
- stochastic demand
- order quantity
- stochastic lead times
- supply chain management
- production system
- inventory level
- base stock policies
- customer demand
- single stage
- production planning
- demand distributions
- replenishment policy
- decision making
- inventory management
- average cost
- dynamic programming
- cost function
- optimal solution