English, Article edition: Leadtime management in a periodic-review inventory system: A state-dependent base-stock policy Lee, Jun-Yeon; Schwarz, Leroy B.

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/10690
Physical Description
  • article
Language
  • English

Edition details

Title
  • Leadtime management in a periodic-review inventory system: A state-dependent base-stock policy
Author
  • Lee, Jun-Yeon
  • Schwarz, Leroy B.
Physical Description
  • article
Notes
  • We examine a single-item, periodic-review inventory system with stochastic leadtimes, in which a replenishment order is delivered immediately or one period later, depending probabilistically on costly effort. The objective is to determine a joint inventory policy and effort-choice strategy that minimizes the expected total costs. Our analytical and computational analysis suggests that (i) a state-dependent base-stock policy is optimal, (ii) the optimal effort strategy is such that the marginal cost of effort is equal to the value of immediate delivery, and (iii) the cost impact of leadtime reduction can be very large. We also provide some counter-intuitive results, compared with the traditional multi-period newsvendor model.
  • Inventory Leadtime management State-dependent base-stock policy
  • RePEc:eee:ejores:v:199:y:2009:i:1:p:122-129
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment