Exploiting Random Lead Times for Significant Inventory Cost Savings.
Alexander L. StolyarQiong WangPublished in: Oper. Res. (2022)
Keyphrases
- lead time
- cost savings
- supply chain
- multi echelon
- service level
- lot sizing
- inventory control
- inventory systems
- stochastic lead times
- single item
- single product
- optimal base stock levels
- planning horizon
- inventory management
- stochastic demand
- setup cost
- inventory level
- assembly systems
- periodic review
- infinite horizon
- independent and identically distributed
- poisson process
- holding cost
- total cost
- lost sales
- decision making
- operating costs
- random variables
- replenishment policy
- base stock levels
- order quantity
- multistage
- markov chain
- bayesian networks