Optimal ordering policies with convertible lead times.
Guillermo GallegoYue JinAna MurielGe ZhangV. Taylan YildizPublished in: Eur. J. Oper. Res. (2007)
Keyphrases
- lead time
- holding cost
- periodic review
- base stock policy
- stochastic lead times
- replenishment policy
- inventory systems
- order quantity
- base stock policies
- optimal policy
- supply chain
- inventory policy
- single item
- single product
- expected profit
- expected cost
- assembly systems
- lost sales
- demand distributions
- service level
- control policy
- lot sizing
- stochastic demand
- dynamic programming
- optimal base stock levels
- poisson process
- inventory control
- infinite horizon
- stochastic inventory
- single stage
- control policies
- independent and identically distributed
- decision making
- asymptotically optimal
- average cost
- random variables
- scheduling problem
- cost function