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Article: INVENTORY CONTROL OF ITEMS HAVING LUMPY DEMAND PATTERNS WITH SERVICE-LEVEL CONSTRAINTS.
Title | INVENTORY CONTROL OF ITEMS HAVING LUMPY DEMAND PATTERNS WITH SERVICE-LEVEL CONSTRAINTS. |
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Authors | |
Issue Date | 1986 |
Publisher | Taylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/00207721.asp |
Citation | International Journal Of Systems Science, 1986, v. 17 n. 6, p. 865-873 How to Cite? |
Abstract | In this paper, a simple regression model is developed for the estimation of optimal inventory-control parameters for items with lumpy demand patterns when a service level is specified. The control discipline is the (s, S) policy with continuous review. The lead time is assumed to be known and constant, and there is assumed to be complete backlogging of unfilled demand. A lead-time demand distribution of stuttering Poisson nature is assumed. Customer service is defined as the probability of having a non-negative net inventory at an arbitrary time. A grid of 2688 known optimal policies is used to provide data for calibration of the regression model. Extensive computational results show that for the range of service level considered in this paper, the model developed provides close approximations to the optimal values of s and S for wide ranges of demand and cost parameters. |
Persistent Identifier | http://hdl.handle.net/10722/155794 |
ISSN | 2021 Impact Factor: 2.648 2020 SCImago Journal Rankings: 0.591 |
DC Field | Value | Language |
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dc.contributor.author | Mak, KL | en_US |
dc.contributor.author | Hung, CH | en_US |
dc.date.accessioned | 2012-08-08T08:37:47Z | - |
dc.date.available | 2012-08-08T08:37:47Z | - |
dc.date.issued | 1986 | en_US |
dc.identifier.citation | International Journal Of Systems Science, 1986, v. 17 n. 6, p. 865-873 | en_US |
dc.identifier.issn | 0020-7721 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/155794 | - |
dc.description.abstract | In this paper, a simple regression model is developed for the estimation of optimal inventory-control parameters for items with lumpy demand patterns when a service level is specified. The control discipline is the (s, S) policy with continuous review. The lead time is assumed to be known and constant, and there is assumed to be complete backlogging of unfilled demand. A lead-time demand distribution of stuttering Poisson nature is assumed. Customer service is defined as the probability of having a non-negative net inventory at an arbitrary time. A grid of 2688 known optimal policies is used to provide data for calibration of the regression model. Extensive computational results show that for the range of service level considered in this paper, the model developed provides close approximations to the optimal values of s and S for wide ranges of demand and cost parameters. | en_US |
dc.language | eng | en_US |
dc.publisher | Taylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/00207721.asp | en_US |
dc.relation.ispartof | International Journal of Systems Science | en_US |
dc.title | INVENTORY CONTROL OF ITEMS HAVING LUMPY DEMAND PATTERNS WITH SERVICE-LEVEL CONSTRAINTS. | en_US |
dc.type | Article | en_US |
dc.identifier.email | Mak, KL:makkl@hkucc.hku.hk | en_US |
dc.identifier.authority | Mak, KL=rp00154 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.scopus | eid_2-s2.0-0022726291 | en_US |
dc.identifier.volume | 17 | en_US |
dc.identifier.issue | 6 | en_US |
dc.identifier.spage | 865 | en_US |
dc.identifier.epage | 873 | en_US |
dc.publisher.place | United Kingdom | en_US |
dc.identifier.scopusauthorid | Mak, KL=7102680226 | en_US |
dc.identifier.scopusauthorid | Hung, CH=7403166821 | en_US |
dc.identifier.issnl | 0020-7721 | - |