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Article: INVENTORY CONTROL OF ITEMS HAVING LUMPY DEMAND PATTERNS WITH SERVICE-LEVEL CONSTRAINTS.

TitleINVENTORY CONTROL OF ITEMS HAVING LUMPY DEMAND PATTERNS WITH SERVICE-LEVEL CONSTRAINTS.
Authors
Issue Date1986
PublisherTaylor & 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?
AbstractIn 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 Identifierhttp://hdl.handle.net/10722/155794
ISSN
2015 Impact Factor: 1.947
2015 SCImago Journal Rankings: 1.083

 

DC FieldValueLanguage
dc.contributor.authorMak, KLen_US
dc.contributor.authorHung, CHen_US
dc.date.accessioned2012-08-08T08:37:47Z-
dc.date.available2012-08-08T08:37:47Z-
dc.date.issued1986en_US
dc.identifier.citationInternational Journal Of Systems Science, 1986, v. 17 n. 6, p. 865-873en_US
dc.identifier.issn0020-7721en_US
dc.identifier.urihttp://hdl.handle.net/10722/155794-
dc.description.abstractIn 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.languageengen_US
dc.publisherTaylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/00207721.aspen_US
dc.relation.ispartofInternational Journal of Systems Scienceen_US
dc.titleINVENTORY CONTROL OF ITEMS HAVING LUMPY DEMAND PATTERNS WITH SERVICE-LEVEL CONSTRAINTS.en_US
dc.typeArticleen_US
dc.identifier.emailMak, KL:makkl@hkucc.hku.hken_US
dc.identifier.authorityMak, KL=rp00154en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-0022726291en_US
dc.identifier.volume17en_US
dc.identifier.issue6en_US
dc.identifier.spage865en_US
dc.identifier.epage873en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridMak, KL=7102680226en_US
dc.identifier.scopusauthoridHung, CH=7403166821en_US

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