Optimal ordering decision for deteriorating items with expiration date and uncertain lead time.
Ping-Hui HsuHui-Ming WeeHui-Ming TengPublished in: Comput. Ind. Eng. (2007)
Keyphrases
- lead time
- lot size
- replenishment policy
- multi echelon
- supply chain
- single item
- decision making
- lot sizing
- ordering cost
- service level
- inventory policy
- inventory systems
- single product
- total cost
- assembly systems
- periodic review
- poisson process
- stochastic demand
- inventory control
- single stage
- holding cost
- setup cost
- finite horizon
- random variables
- stochastic lead times
- expected profit
- cost function
- order quantity
- inventory level
- utility function
- lost sales
- planning horizon
- infinite horizon
- demand distributions
- multistage
- probabilistic model
- dynamic programming
- optimal base stock levels