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Article: Synthesis of joint replenishment policies for inventory systems when demand is lumpy

TitleSynthesis of joint replenishment policies for inventory systems when demand is lumpy
Authors
KeywordsCutoff point
Inventory control
Joint replenishments
Lumpy demands
Issue Date1996
PublisherTaylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/0305215x.asp
Citation
Engineering Optimization, 1996, v. 26 n. 3, p. 207-220 How to Cite?
AbstractThis paper is concerned with the synthesis of control policies for inventory systems in which the items experience lumpy demands. The nature of the customer demands is approximated by a discrete stuttering Poisson distribution and a continuous review (s, S) inventory policy is used to control such items. A cutoff point is also incorporated into the control policy such that customer orders with transaction sizes greater than the cutoff point will be filtered out of the inventory system and satisfied by placing a special replenishment order to a higher echelon. Customer orders with transaction sizes less than or equal to the cutoff point will be met from stock. It is also specified that if the available inventory is below the order-up-to level S at the time when a special replenishment order is placed, such a replenishment order will also raise the available inventory level to S. A search procedure is presented for determining the optimal values of the control parameters w, s and S. A numerical example is used to illustrate the theoretical results obtined.
Persistent Identifierhttp://hdl.handle.net/10722/74618
ISSN
2015 Impact Factor: 1.38
2015 SCImago Journal Rankings: 0.866
References

 

DC FieldValueLanguage
dc.contributor.authorMak, KLen_HK
dc.date.accessioned2010-09-06T07:03:07Z-
dc.date.available2010-09-06T07:03:07Z-
dc.date.issued1996en_HK
dc.identifier.citationEngineering Optimization, 1996, v. 26 n. 3, p. 207-220en_HK
dc.identifier.issn0305-215Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/74618-
dc.description.abstractThis paper is concerned with the synthesis of control policies for inventory systems in which the items experience lumpy demands. The nature of the customer demands is approximated by a discrete stuttering Poisson distribution and a continuous review (s, S) inventory policy is used to control such items. A cutoff point is also incorporated into the control policy such that customer orders with transaction sizes greater than the cutoff point will be filtered out of the inventory system and satisfied by placing a special replenishment order to a higher echelon. Customer orders with transaction sizes less than or equal to the cutoff point will be met from stock. It is also specified that if the available inventory is below the order-up-to level S at the time when a special replenishment order is placed, such a replenishment order will also raise the available inventory level to S. A search procedure is presented for determining the optimal values of the control parameters w, s and S. A numerical example is used to illustrate the theoretical results obtined.en_HK
dc.languageengen_HK
dc.publisherTaylor & Francis Ltd. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/0305215x.aspen_HK
dc.relation.ispartofEngineering Optimizationen_HK
dc.subjectCutoff pointen_HK
dc.subjectInventory controlen_HK
dc.subjectJoint replenishmentsen_HK
dc.subjectLumpy demandsen_HK
dc.titleSynthesis of joint replenishment policies for inventory systems when demand is lumpyen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0305-215X&volume=26&spage=207&epage=225&date=1996&atitle=Synthesis+of+joint+replenishment+policies+for+inventory+systems+when+demand+is+lumpyen_HK
dc.identifier.emailMak, KL:makkl@hkucc.hku.hken_HK
dc.identifier.authorityMak, KL=rp00154en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.scopuseid_2-s2.0-0029695118en_HK
dc.identifier.hkuros28392en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0029695118&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume26en_HK
dc.identifier.issue3en_HK
dc.identifier.spage207en_HK
dc.identifier.epage220en_HK
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridMak, KL=7102680226en_HK

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