An alternative simple solution algorithm of an inventory model with fixed and variable lead time crash costs under unknown demand distribution.
M. A. HoqueS. K. GoyalPublished in: Int. J. Syst. Sci. (2009)
Keyphrases
- lead time
- lot size
- cost function
- optimal solution
- probabilistic model
- objective function
- total cost
- customer demand
- inventory costs
- ordering cost
- dynamic programming
- np hard
- inventory policy
- inventory control
- setup cost
- random variables
- supply chain
- probability distribution
- replenishment policy
- inventory systems
- optimal base stock levels
- lost sales
- service level
- holding cost
- single period
- graphical models
- multi echelon
- stochastic inventory
- multi item
- production cost
- assembly systems
- base stock policy
- integer programming
- standard deviation
- periodic review inventory
- decision making