Order splitting in continuous review (Q,r) inventory models

Article Abstract:

The benefits of splitting a replenishment order between different suppliers were compared to the policy of splitting the delivery dates of an order from a single supplier. The comparison, which assumed either deterministic or Poisson demand processes, was carried out within the framework of a continuous review (Q,r) model with order quantity Q and reorder level r. It proved that placing Q/n orders at different n periods reduces operating costs as compared to n orders of Q/n with different suppliers.

Inventory Control, Operations research, Management science, Case studies

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Numerical analysis of a continuous-review lost-sales inventory model where two orders may be outstanding

Article Abstract:

A numerical model which addresses the particular case of a poisson demand, constant lead time, a Q value of more than one and two outstanding orders is presented. The model is also used to derive a method to compute for the actual steady-state behavior which serve as standards for approximate models. However, results show that directly integrating the proposed model into a control system is not a feasible approach.

Retail Stores, NEC, Software, Mathematical models, Economic stagnation, Retail inventories

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Optimal and near-optimal policies for lost sales inventory models with at most one replenishment order outstanding

Article Abstract:

An analysis of optimal control policies with respect to lost sales inventory models is presented.

Denmark, Inventories, Models, Analysis, Sales, Mathematical optimization, Optimization theory, Sales analysis

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