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Article: Determining optimal production-inventory control policies for an inventory system with partial backlogging

TitleDetermining optimal production-inventory control policies for an inventory system with partial backlogging
Authors
Issue Date1987
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/cor
Citation
Computers And Operations Research, 1987, v. 14 n. 4, p. 299-304 How to Cite?
AbstractIn this paper, a mathematical model is developed for an inventory system in which the demand during the stockout period is partially backlogged and the items are replenished at a uniform rate. It is shown that by defining a time proportional backordered cost and a penalty cost per unit lost, a convex cost function can be obtained if a suitable set of decision variables is used in the analysis. The determination of optimal production-inventory control policies is thus greatly simplified since it is not necessary to use any ad hoc optimization procedure in the analysis. A numerical example is used to illustrate the theory. Computational results indicate that optimal policies are sensitive to the nature of the demand during the stockout period, and that erroneous assumption of the fraction of the unsatisfied demand that can be backlogged leads to a higher annual operating cost. © 1987.
Persistent Identifierhttp://hdl.handle.net/10722/155796
ISSN
2015 Impact Factor: 1.988
2015 SCImago Journal Rankings: 2.237

 

DC FieldValueLanguage
dc.contributor.authorMak, KLen_US
dc.date.accessioned2012-08-08T08:37:48Z-
dc.date.available2012-08-08T08:37:48Z-
dc.date.issued1987en_US
dc.identifier.citationComputers And Operations Research, 1987, v. 14 n. 4, p. 299-304en_US
dc.identifier.issn0305-0548en_US
dc.identifier.urihttp://hdl.handle.net/10722/155796-
dc.description.abstractIn this paper, a mathematical model is developed for an inventory system in which the demand during the stockout period is partially backlogged and the items are replenished at a uniform rate. It is shown that by defining a time proportional backordered cost and a penalty cost per unit lost, a convex cost function can be obtained if a suitable set of decision variables is used in the analysis. The determination of optimal production-inventory control policies is thus greatly simplified since it is not necessary to use any ad hoc optimization procedure in the analysis. A numerical example is used to illustrate the theory. Computational results indicate that optimal policies are sensitive to the nature of the demand during the stockout period, and that erroneous assumption of the fraction of the unsatisfied demand that can be backlogged leads to a higher annual operating cost. © 1987.en_US
dc.languageengen_US
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/coren_US
dc.relation.ispartofComputers and Operations Researchen_US
dc.titleDetermining optimal production-inventory control policies for an inventory system with partial backloggingen_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-s2.0-0023168332en_US
dc.identifier.volume14en_US
dc.identifier.issue4en_US
dc.identifier.spage299en_US
dc.identifier.epage304en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridMak, KL=7102680226en_US

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