Coordinated Replenishments in a Multi-Item Inventory System with Compound Poisson Demands

Article Abstract:

A multi-item inventory system with compound Poisson demands is considered as a cost saving process. This process involves coordinating replenishment orders for groups of items. A surplus of demands are backlogged and each replenishment requires lead time. Major setup costs are associated with a family replenishment. Minor setup costs are part of replenishment of individual items. The cost structure also includes holding and penalty costs. A policy-iteration algorithm is presented to minimize long- term cost per unit time which is subject to a service level constraint. Results show that cost savings can be attained using suboptimal coordinated control instead of independent control.

Models, Inventories

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Coordinated Replenishments in a Multi-Item Inventory System with Compound Poisson Demands

Article Abstract:

Considerable savings may be achieved in many inventory systems by the coordination of replenishment orders for groups of items. A continuous review multi-item inventory system where demands for the items are generated by independent compound Poisson processes is considered. Excess demands are backlogged. Each replenishment requires a lead time. There are holding and penalty costs. An algorithm has been developed that depends on a heuristic decomposition procedure. It also depends on a policy-iteration method to solve subproblems generated by the decomposition. Tables present numerical results.

Manufacturing, Statistics (Data), Inventory control, Algorithm, Modeling, Data modeling software, Poisson distribution, Statistics, Management Science, Iteration

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Preemptive scheduling of uniform machines by ordinary network flow techniques

Article Abstract:

The conflict inherent in scheduling n jobs involves a certain processing requirement, due date, and release time on m parallel machines. The uniform machines only differentiate in processing performance. Though preemptions are permitted, machines will work on just one job at a time and only one machine can handle one job at one time.

Research, Methods, Planning, Scheduling (Management), Labor supply, Labor force

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