File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Degeneracy in inventory models

TitleDegeneracy in inventory models
Authors
Issue Date2002
PublisherJohn Wiley & Sons, Inc. The Journal's web site is located at http://as.wiley.com/WileyCDA/WileyTitle/productCd-NAV.html
Citation
Naval Research Logistics, 2002, v. 49 n. 7, p. 686-705 How to Cite?
AbstractIn order-quantity reorder-point formulations for inventory items where backordering is allowed, some of the more common ways to prevent excessive stockouts in an optimal solution are to impose either a cost per unit short, a cost per stockout occasion, or a target fill rate. We show that these popular formulations, both exact and approximate, can become "degenerate" even with quite plausible parameters. By degeneracy we mean any situation in which the formulation either cannot be solved, leads to nonsensical "optimal" solutions, or becomes equivalent to something substantially simpler. We explain the reasons for the degeneracies, yielding new insight into these models, and we provide practical advice for inventory managers. © 2002 Wiley Periodicals, Inc. Naval Research Logistics 49.
Persistent Identifierhttp://hdl.handle.net/10722/177902
ISSN
2015 Impact Factor: 0.787
2015 SCImago Journal Rankings: 1.134
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLau, AHLen_US
dc.contributor.authorLau, HSen_US
dc.contributor.authorPyke, DFen_US
dc.date.accessioned2012-12-19T09:40:45Z-
dc.date.available2012-12-19T09:40:45Z-
dc.date.issued2002en_US
dc.identifier.citationNaval Research Logistics, 2002, v. 49 n. 7, p. 686-705en_US
dc.identifier.issn0894-069Xen_US
dc.identifier.urihttp://hdl.handle.net/10722/177902-
dc.description.abstractIn order-quantity reorder-point formulations for inventory items where backordering is allowed, some of the more common ways to prevent excessive stockouts in an optimal solution are to impose either a cost per unit short, a cost per stockout occasion, or a target fill rate. We show that these popular formulations, both exact and approximate, can become "degenerate" even with quite plausible parameters. By degeneracy we mean any situation in which the formulation either cannot be solved, leads to nonsensical "optimal" solutions, or becomes equivalent to something substantially simpler. We explain the reasons for the degeneracies, yielding new insight into these models, and we provide practical advice for inventory managers. © 2002 Wiley Periodicals, Inc. Naval Research Logistics 49.en_US
dc.languageengen_US
dc.publisherJohn Wiley & Sons, Inc. The Journal's web site is located at http://as.wiley.com/WileyCDA/WileyTitle/productCd-NAV.htmlen_US
dc.relation.ispartofNaval Research Logisticsen_US
dc.titleDegeneracy in inventory modelsen_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.doi10.1002/nav.10037en_US
dc.identifier.scopuseid_2-s2.0-0036792950en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0036792950&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume49en_US
dc.identifier.issue7en_US
dc.identifier.spage686en_US
dc.identifier.epage705en_US
dc.identifier.isiWOS:000178223900004-
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridLau, AHL=7202626080en_US
dc.identifier.scopusauthoridLau, HS=7201497264en_US
dc.identifier.scopusauthoridPyke, DF=7006660312en_US

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats