Some remarks on an optimal order quantity and reorder point when supply and demand are uncertain.
Chih-Hsiung WangPublished in: Comput. Ind. Eng. (2010)
Keyphrases
- order quantity
- reorder point
- lead time
- lot size
- ordering policy
- service level
- total cost
- stochastic demand
- inventory systems
- standard deviation
- single period
- lost sales
- inventory level
- finite horizon
- optimal policy
- single item
- supply chain
- raw material
- decision variables
- lot sizing
- production cost
- single stage
- planning horizon
- decision making
- holding cost
- setup cost
- state space
- probabilistic model
- optimal solution
- bayesian networks