File Download
There are no files associated with this item.
Links for fulltext
(May Require Subscription)
- Publisher Website: 10.1002/nav.10037
- Scopus: eid_2-s2.0-0036792950
- WOS: WOS:000178223900004
- Find via
Supplementary
- Citations:
- Appears in Collections:
Article: Degeneracy in inventory models
Title | Degeneracy in inventory models |
---|---|
Authors | |
Issue Date | 2002 |
Publisher | John 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? |
Abstract | In 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 Identifier | http://hdl.handle.net/10722/177902 |
ISSN | 2023 Impact Factor: 1.9 2023 SCImago Journal Rankings: 1.260 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Lau, AHL | en_US |
dc.contributor.author | Lau, HS | en_US |
dc.contributor.author | Pyke, DF | en_US |
dc.date.accessioned | 2012-12-19T09:40:45Z | - |
dc.date.available | 2012-12-19T09:40:45Z | - |
dc.date.issued | 2002 | en_US |
dc.identifier.citation | Naval Research Logistics, 2002, v. 49 n. 7, p. 686-705 | en_US |
dc.identifier.issn | 0894-069X | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177902 | - |
dc.description.abstract | In 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.language | eng | en_US |
dc.publisher | John Wiley & Sons, Inc. The Journal's web site is located at http://as.wiley.com/WileyCDA/WileyTitle/productCd-NAV.html | en_US |
dc.relation.ispartof | Naval Research Logistics | en_US |
dc.title | Degeneracy in inventory models | en_US |
dc.type | Article | en_US |
dc.identifier.email | Lau, AHL: ahlau@business.hku.hk | en_US |
dc.identifier.authority | Lau, AHL=rp01072 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1002/nav.10037 | en_US |
dc.identifier.scopus | eid_2-s2.0-0036792950 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0036792950&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 49 | en_US |
dc.identifier.issue | 7 | en_US |
dc.identifier.spage | 686 | en_US |
dc.identifier.epage | 705 | en_US |
dc.identifier.isi | WOS:000178223900004 | - |
dc.publisher.place | United States | en_US |
dc.identifier.scopusauthorid | Lau, AHL=7202626080 | en_US |
dc.identifier.scopusauthorid | Lau, HS=7201497264 | en_US |
dc.identifier.scopusauthorid | Pyke, DF=7006660312 | en_US |
dc.identifier.issnl | 0894-069X | - |