Electronic Companion to “Optimal Policies for a Dual-Sourcing Inventory Problem with Endogenous Stochastic Lead Times”
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Determining Optimal Number of Suppliers in a Multiple Sourcing Model under Stochastic Lead Times
Employing more than one supplier and splitting orders between them is a strategy employed in supply chains to lessen the lead-time risk in unstable environments. In this paper we present a multiple-sourcing inventory system with stochastic lead-times and constant demand controlled by a continuous review, reorder point-order quantity inventory policy. We consider the situation in which the order...
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Dual-sourcing inventory systems, in which one supplier is faster (i.e. express) and more costly, while the other is slower (i.e. regular) and cheaper, arise naturally in many real-world supply chains. These systems are notoriously difficult to optimize due to the complex structure of the optimal solution and the curse of dimensionality, having resisted solution for over 40 years. Recently, so-c...
متن کاملOptimal Policies for a Dual-Sourcing Inventory Problem with Endogenous Stochastic Lead Times
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We consider a single stage periodic-review inventory system with backorders and dual sourcing: Replenishment can occur through a regular channel and/or a more expensive expedited channel with a smaller lead time. Globally optimal policies for these problems are in general highly complex; we therefore introduce a simple class of heuristic base stock policies. We call our class of policies the si...
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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...
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تاریخ انتشار 2016