Inventory policies for a make-to-order system with a perishable component and fixed ordering cost

Inventory Policies for a Make-to-Order System with a Perishable Component and Fixed Ordering Cost

We consider a make-to-order production system where two major components, one nonperishable (referred to as part 1) and one perishable (part 2), are needed to fulfill a customer order. In each period, replenishment decisions for both parts need to be made jointly before demand is realized and a fixed ordering cost is incurred for the nonperishable part. We show that a simple (sn, S1 n , S 2 n) ...

Cost-effective ordering policies for inventory systems with emergency order

Most of the studies on inventory control reported in earlier contributions deal with the optimization problems minimizing an expected cost criterion such as the long-run average cost. However, when the plant engineers design the inventory systems in practical situations, they must take account of reliability into the inventory system as well as economical aspect, where reliability can be define...

Coordinated and Joint Ordering Policies for Two Commodity Inventory System

Optimal and near-optimal inventory control policies for a make-to-order inventory-production system

This paper examines several inventory replenishment policies for a make-to-order inventory–production system that consists of a production workshop and a warehouse. Demands arrive to the production workshop according to a Poisson process, and are processed in an FCFS manner. The production workshop requires that the warehouse provides, as needed, raw materials for use in the production process....

Perishable Inventory System with a Finite Population and Repeated Attempts