THE S-1, S INVENTORY MODEL WITH ARBITRARY BACK-ORDERED DEMAND AND CONSTANT DELIVERY TIME

THIS PAPER DERIVES THE IMPORTANT MEASURES OF SUPPLY PERFORMANCE FOR AN INVENTORY MODEL IN WHICH THE REPLENISHMENT POLICY IS TO REORDER A UNIT WHENEVER DEMAND OCCURS. THE PERFORMANCE MEASURES CONSIDERED ARE - THE EXPECTED NUMBER OF BACK-ORDERS, THE EXPECTED RESUPPLY AND STOCKOUT TIMES, AND THE PROBAB...

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Bibliographic Details
Published in:Operations research 1972-09, Vol.20 (5), p.1020
Main Author: Rose, Marshall
Format: Article
Language:English
Subjects:
Demand
Inventory control
Inventory management
Online Access:Get full text
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Summary:THIS PAPER DERIVES THE IMPORTANT MEASURES OF SUPPLY PERFORMANCE FOR AN INVENTORY MODEL IN WHICH THE REPLENISHMENT POLICY IS TO REORDER A UNIT WHENEVER DEMAND OCCURS. THE PERFORMANCE MEASURES CONSIDERED ARE - THE EXPECTED NUMBER OF BACK-ORDERS, THE EXPECTED RESUPPLY AND STOCKOUT TIMES, AND THE PROBABILITY DISTRIBUTION FOR RESUPPLY TIMES. ALL DEMANDS, DESCRIBED BY AN ARBITRARY DISTRIBUTION, ARE CAPTURED, BUT NEED NOT NECESSARILY BE SATISFIED IMMEDIATELY. THE DELIVERY TIMES ARE ASSUMED CONSTANT. ALSO CONSIDERED IS THE PROBLEM OF TRADE-OFFS BETWEEN SPARES AND THE DELIVERY TIME TO ACHIEVE A GIVEN LEVEL OF SUPPLY PERFORMANCE AT LEAST COST.
ISSN:0030-364X
1526-5463