(s,S) Policies for a Dynamic Inventory Model with Stochastic Lead Times

(s, S) Policies for a Dynamic Inventory Model with Stochastic Lead Times

This study analyzes a stochastic lead time inventory model under the assumptions that (a) replenishment orders do not cross in time and (b) the lead time distribution for a given order is independent of the number and sizes of outstanding orders. The study extends the existing literature on the finitehorizon version of the model and yields an intuitively appealing dynamic program that is nearly...

Optimal Policies for a Dual-Sourcing Inventory Problem with Endogenous Stochastic Lead Times

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Electronic Companion to “Optimal Policies for a Dual-Sourcing Inventory Problem with Endogenous Stochastic Lead Times”

A multiple objective approach for joint ordering and pricing planning problem with stochastic lead times

The integration of marketing and demand with logistics and inventories (supply side of companies) may cause multiple improvements; it can revolutionize the management of the revenue of rental companies, hotels, and airlines. In this paper, we develop a multi-objective pricing-inventory model for a retailer. Maximizing the retailer's profit and the service level are the objectives, and shorta...

Quality improvement in an inventory model with finite-range stochastic lead times

Typically, traditional inventory models operate under the assumption of perfect quality. In this paper we modify an inventory model with finite-range stochastic lead time to allow for a random number of defective units in a lot. However, there is an extra cost for holding the defective items in the lot for the period before it is returned to the supplier. This paper also considers the option of...