The Optimal inventory Control of a System with Random lead Time Where Random Supply interruptions Affect the replenishment.
Yumei HouQiang ZhangPublished in: Asia Pac. J. Oper. Res. (2009)
Keyphrases
- lead time
- inventory control
- supply chain
- dual sourcing
- single product
- single item
- stochastic demand
- inventory replenishment
- assembly systems
- periodic review
- optimal base stock levels
- inventory systems
- holding cost
- finite horizon
- service level
- setup cost
- lost sales
- replenishment policy
- base stock policy
- infinite horizon
- customer demand
- total cost
- inventory models
- lot sizing
- dynamic programming
- random variables
- base stock policies
- lot size
- utility function
- customer service
- planning horizon
- optimal strategy
- pricing strategies
- asymptotically optimal
- demand distributions
- decision making