An Evaluation of a Joint Replenishment Inventory Model with Random Demands.

Abstract

This paper considers a joint replenishment inventory problem with a continuous-review (S, c, s) policy for the backorder case with Poisson demands and constant procurement lead times. Whenever item i's inventory level hits s sub i (reorder point) or lower it triggers an order so as to raise item i's level to S sub i (order up point). At the same time any other item j with inventory level at-or-below its can-order point c sub j is included in the replenishment. A Poisson demand model with a queueing description of the system's operation is analysed, and comparisons are conducted for joint versus individual orders in the case of multi-item problems, where joint replenishment of several items may reduce setup costs. Keywords: Theses; Mathematical models, Computer programs.

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Document Details

Document Type
Technical Report
Publication Date
Mar 01, 1987
Accession Number
ADA181487

Entities

People

  • Won B. Kim

Organizations

  • Naval Postgraduate School

Tags

Communities of Interest

  • Weapons Technologies

DTIC Thesaurus Topics

  • Algorithms
  • Computer Programs
  • Customer Services
  • Doctrine
  • Heuristic Methods
  • Inventory
  • Inventory Control
  • Lead Time
  • Mathematical Models
  • Notation
  • Operations Research
  • Probability
  • Procurement
  • Schools
  • Simulations
  • Test And Evaluation
  • Time Intervals

Readers

  • Logistics and Supply Chain Management.
  • Mathematical Modeling and Probability Theory.