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Article: Determination of the optimal maximum issue quantity for lumpy demand items when controlled by an (s, S) policy

TitleDetermination of the optimal maximum issue quantity for lumpy demand items when controlled by an (s, S) policy
Authors
Issue Date1995
PublisherTaylor & Francis Inc. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01969722.asp
Citation
Cybernetics And Systems, 1995, v. 26 n. 2, p. 149-164 How to Cite?
AbstractIn this paper, an effective algorithm is developed for the determination of the optimal maximum issue quantity for inventory items having lumpy demand patterns. In order not to disrupt the inventory system, a customer order with demand size exceeding the maximum issue quantity will be filtered out of the system and satisfied by placing a special replenishment order to a higher echelon. Otherwise, it will be met from stock. The control discipline is the (s, S) inventory policy with continuous review and the nature of the demands is approximated by a discrete compound Poisson distribution. The characteristics of the control parameters, s and S, and the cost function with respect to w are studied. The optimal values of the control parameters, w, s, and S, are determined jointly. The theoretical results are illustrated with a numerical example.
Persistent Identifierhttp://hdl.handle.net/10722/155806
ISSN
2015 Impact Factor: 0.88
2015 SCImago Journal Rankings: 0.355

 

DC FieldValueLanguage
dc.contributor.authorMak, KLen_US
dc.contributor.authorLai, KKen_US
dc.date.accessioned2012-08-08T08:37:50Z-
dc.date.available2012-08-08T08:37:50Z-
dc.date.issued1995en_US
dc.identifier.citationCybernetics And Systems, 1995, v. 26 n. 2, p. 149-164en_US
dc.identifier.issn0196-9722en_US
dc.identifier.urihttp://hdl.handle.net/10722/155806-
dc.description.abstractIn this paper, an effective algorithm is developed for the determination of the optimal maximum issue quantity for inventory items having lumpy demand patterns. In order not to disrupt the inventory system, a customer order with demand size exceeding the maximum issue quantity will be filtered out of the system and satisfied by placing a special replenishment order to a higher echelon. Otherwise, it will be met from stock. The control discipline is the (s, S) inventory policy with continuous review and the nature of the demands is approximated by a discrete compound Poisson distribution. The characteristics of the control parameters, s and S, and the cost function with respect to w are studied. The optimal values of the control parameters, w, s, and S, are determined jointly. The theoretical results are illustrated with a numerical example.en_US
dc.languageengen_US
dc.publisherTaylor & Francis Inc. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01969722.aspen_US
dc.relation.ispartofCybernetics and Systemsen_US
dc.titleDetermination of the optimal maximum issue quantity for lumpy demand items when controlled by an (s, S) policyen_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-s2.0-0029273209en_US
dc.identifier.volume26en_US
dc.identifier.issue2en_US
dc.identifier.spage149en_US
dc.identifier.epage164en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridMak, KL=7102680226en_US
dc.identifier.scopusauthoridLai, KK=7402135562en_US

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