Study on Inventory Models based on the Relationship between Lead Time and Customer Waiting Time

Traditional inventory models usually ignore the customer selection behavior facing stockout or predigest the economic and credit lost caused by customer waiting time. Customer waiting time is introduced for first time and the relationship between the customer waiting time and the order lead time is...

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Bibliographic Details
Main Authors: Yan Lei, Chen Rong-qiu, Li Li
Format: Conference Proceeding
Language:English
Subjects:
Computer crashes
Costs
customer lost
Customer relationship management
customer waiting time
inventory
Inventory control
Inventory management
lead time
Lead time reduction
Marketing and sales
Production
Silver
Technology management
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Description
Summary:Traditional inventory models usually ignore the customer selection behavior facing stockout or predigest the economic and credit lost caused by customer waiting time. Customer waiting time is introduced for first time and the relationship between the customer waiting time and the order lead time is modeled. A new algorithm is put forward to solve the model. A numerical example is given to prove the effectiveness of this model.
ISSN:2161-1890
DOI:10.1109/ICSSSM.2007.4280139