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Inventory models of the Arrow-Harris-Marschak type with time lag. ... of immediate delivery, and (iii) the cost impact of leadtime reduction can be very large. ... Our model is different from the above models in that it examines the problem of managing stochastic leadtimes in a periodic-review inventory model, where efforts for leadtime reduction are chosen dynamically ...doi:10.1016/j.ejor.2008.10.024 fatcat:xdus3poabrhgvo5q3u5ntkzknq
This study involves the introduction of stochastic leadtimes between the warehouse and retail sites, in place of the original deterministic leadtimes in an earlier reported multi-echelon inventory model ... The model becomes mathematically intractable, and simulation studies become appropriate. ... Results of that earlier study suggest that it may be better to use the deterministic leadtime model with an accurately estimated mean leadtime than a stochastic model with a poorly estimated mean leadtime ...doi:10.1016/j.ejor.2006.07.008 fatcat:julp4j5ohval7k2xbdhvm6vlum
We developed a procurement decision model, which takes into account partner selection and optimal order quantity with the integration of a planned production leadtime operational decision. ... Leadtime is taken into account in time and cost performance to achieve on-time delivery of a supply chain (SC) system. ... In inventory with uncertainty, leadtime can be reduced at an added cost. ...doi:10.31387/oscm090052 fatcat:foc7x6pszrg53moupylqxxisoi
Almost all multi-echelon inventory models assume that demand not satis ed immediately can be backordered. In some situations this assumption is not realistic. ... For example, it may be more representative to model stockouts as lost sales when the retailers are in a competitive m a r k et and customers can easily turn to another rm when purchasing the good. ... Smith 11 demonstrates how t o e v aluate and nd optimal S , 1; S -policies for an inventory system with zero replenishment costs and generally distributed stochastic leadtimes. ...doi:10.1016/s0925-5273(00)00031-1 fatcat:qb3a3jkhsng5vjgpwusy5pbce4
Models with stochastic delivery and stochastic demand; VIII. Dynamic reorder-point models; IX. Dynamic ordering time models; X. Multi-item models; XI. Multi- location models; XII. ... In this article we analyze an (s,S) inventory system of items with constant failure rates and Poisson demands where the leadtimes are arbitrarily distributed. ...
We show that the optimal vector of planned leadtimes may be obtained efficiently by solving an equivalent serial inventory model of the type considered in Clark and Scarf (1960) , and as a corollary, we ... The order will not be released immediately to the next workstation prior to a predetermined delivery time, or planned leadtime. ... Acknowledgment: The authors would like to express their gratitude to Departmental Editor, Professor Awi Federgruen and anonymous referees for their helpful comments and suggestions. ...doi:10.1287/mnsc.40.5.629 fatcat:raskdizpjrgktpcnkff6bv33z4
Modelling the system as an inventory-queue model, we construct a decision model to determine the optimal stock level of the semifinished base product and the optimal leadtime of the finished products that ... Our results can be used to guide managers in selecting the right inventory and leadtime strategy to cope with system variability. ... Acknowledgments The authors are grateful to the referees and the editor for their constructive suggestions that significantly improved this study. ...doi:10.1016/j.ejor.2020.04.033 fatcat:znounafiabbqdhhrwrsh2mlyuq
We consider two classical models, the periodic-review stochastic inventory control problem and the stochastic lot-sizing problem with correlated and nonstationary demands. ... The Models The details of the periodic-review stochastic inventory control problem are as follows. ... Analysis The Dual Dynamic Program The analysis of the model is based on Lagrangian relaxation and the decomposition of weakly coupled dynamic programs (see, for instance, Bertsimas and Mersereau 2004 ...doi:10.1287/opre.1080.0515 fatcat:6qy575iy7bekdiccpfcydmraii
W e study an assembly system with a number of parallel multistage processes feeding a multistage final assembly process. Each stage has a stochastic throughput time. ... Finally, we discuss an application of the model to a real-life case, showing the added value of a system-wide optimization of planned leadtimes compared to current practice. ... lithography systems and the most complicated main module with the on-time delivery percentage according to the model. ...doi:10.1287/msom.2015.0565 fatcat:5r3uvll6azfunev3ss7l6svwgu
Hence the literature on single-item inventory management with expediting or lost sales is directly relevant to the control of assemble-to-order systems. ... In an assemble-to-order system, a wide variety of products are rapidly assembled from component inventories, in response to customer orders. ... Model Formulation Consider an assemble-to-order system with J components and K products, as shown in Figure 1 . ...doi:10.2139/ssrn.441002 fatcat:yavfe7i2ubcrdnknjwi7wxqrda
It is assumed that possible risk associated with transportation leadtime follows a normal distribution with the established mean and standard deviation. ... It is assumed that possible risk associated with transportation leadtime follows a normal distribution with the established mean and standard deviation. ... It is assumed that transportation leadtime and demand are stochastic. ...doi:10.1016/j.promfg.2020.01.296 fatcat:xxiknzep7vh2vctr7ewhp5fx44
The problem to balance inventory levels and service degrees can be modelled and analyzed by defining appropriate cost functions. ... Each stage requires a fixed leadtime; furthermore, we assume a stochastic, stationary end-item demand process. ... An assembly system with different supply leadtimes. ...doi:10.1111/j.1467-9574.1990.tb01279.x fatcat:v6noe6lxqvac3b4c5r2uiogwh4
This paper considers inventory models with advance demand information and flexible delivery. ... Literature Review Our model directly contributes to the stream of research that analyzes uncapacitated inventory systems (where the supply leadtime is exogenous) with advance demand information and exact ... Acknowledgments The authors thank Guillermo Gallego for enlightening discussions on the protection level heuristics, and Nils Rudi for helpful comments on an earlier version of this paper. ...doi:10.1287/mnsc.1070.0831 fatcat:yudrzl6bn5arhf7rfp3jrmyfpu
We analyze a simple three-location, two-level distribution- type system with stochastic leadtimes with the objective of deter- mining planned leadtimes which minimize the sum of expected inventory-holding ... delivery.” 90B Operations research and management science 88i:90109 88i:90106 90B30 90C50 Zhusupbaev, A. ...
Simulatioll results show that the model with Iimited prodnction capacity and infoTTnation sharing had a smaller ratio of stockout compared to the model with infinite procinction capacity and no inforTnation ... VVe construct a mode] with information sharing and several reference models withollt information sharing. ... Two ideas to cope with stochastic leadtime are considered: (1) accurate demand forecasting and an earlier ordering poljcy, and (2) supplier gives inforrnation te the buyer. ...doi:10.11221/jima.56.413 fatcat:2svchk7rpzb65lem77gid4m2ti
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