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Article: Decision models for single-period products with two ordering opportunities

TitleDecision models for single-period products with two ordering opportunities
Authors
KeywordsFashion Goods
Newsboy Problem
Reordering
Single-Period Inventory
Issue Date1998
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpe
Citation
International Journal Of Production Economics, 1998, v. 55 n. 1, p. 57-70 How to Cite?
AbstractThis paper considers the very common situation in which a single-period "newsboy" type product may be ordered twice during a period. The inventory decision model is shown to be substantially more complicated than the simple one-order-per-period newsboy problem, but the model can nevertheless be easily solved with today's computers and software. The model's solution tells an operations manager how much to order/produce initially, when to place a second order (if at all) and for what quantity. Less quantitative heuristic decision rules are also identified. The last part of the paper extends our basic model to consider a non-negligible set-up cost for the second order; it serves as an illustration of how one might want to extend our basic two-order model to handle a large number of different combinations of additional factors such as the second-order's delivery delay time and price differential. © 1998 Elsevier Science B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/177872
ISSN
2015 Impact Factor: 2.782
2015 SCImago Journal Rankings: 2.749
References

 

DC FieldValueLanguage
dc.contributor.authorLau, AHLen_US
dc.contributor.authorLau, HSen_US
dc.date.accessioned2012-12-19T09:40:39Z-
dc.date.available2012-12-19T09:40:39Z-
dc.date.issued1998en_US
dc.identifier.citationInternational Journal Of Production Economics, 1998, v. 55 n. 1, p. 57-70en_US
dc.identifier.issn0925-5273en_US
dc.identifier.urihttp://hdl.handle.net/10722/177872-
dc.description.abstractThis paper considers the very common situation in which a single-period "newsboy" type product may be ordered twice during a period. The inventory decision model is shown to be substantially more complicated than the simple one-order-per-period newsboy problem, but the model can nevertheless be easily solved with today's computers and software. The model's solution tells an operations manager how much to order/produce initially, when to place a second order (if at all) and for what quantity. Less quantitative heuristic decision rules are also identified. The last part of the paper extends our basic model to consider a non-negligible set-up cost for the second order; it serves as an illustration of how one might want to extend our basic two-order model to handle a large number of different combinations of additional factors such as the second-order's delivery delay time and price differential. © 1998 Elsevier Science B.V. All rights reserved.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijpeen_US
dc.relation.ispartofInternational Journal of Production Economicsen_US
dc.subjectFashion Goodsen_US
dc.subjectNewsboy Problemen_US
dc.subjectReorderingen_US
dc.subjectSingle-Period Inventoryen_US
dc.titleDecision models for single-period products with two ordering opportunitiesen_US
dc.typeArticleen_US
dc.identifier.emailLau, AHL: ahlau@business.hku.hken_US
dc.identifier.authorityLau, AHL=rp01072en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1016/S0925-5273(98)00040-1-
dc.identifier.scopuseid_2-s2.0-0032496543en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0032496543&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume55en_US
dc.identifier.issue1en_US
dc.identifier.spage57en_US
dc.identifier.epage70en_US
dc.publisher.placeNetherlandsen_US
dc.identifier.scopusauthoridLau, AHL=7202626080en_US
dc.identifier.scopusauthoridLau, HS=7201497264en_US

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