A comprehensive extension of the optimal replenishment decisions under two levels of trade credit policy depending on the order quantity.
Liang-Yuh OuyangChih-te YangYa-Lan ChanLeopoldo Eduardo Cárdenas-BarrónPublished in: Appl. Math. Comput. (2013)
Keyphrases
- order quantity
- economic order quantity
- service level
- reorder point
- inventory management
- lead time
- optimal policy
- standard deviation
- stochastic demand
- ordering policy
- supply chain
- single period
- inventory systems
- single stage
- lost sales
- inventory level
- decision making
- decision variables
- multistage
- decision makers
- expected cost
- finite horizon
- ordering cost
- holding cost
- production system
- periodic review
- single product
- markov decision processes
- cost function