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We consider single-item (r, q) and (s, T) inventory systems with integer-valued demand processes. While most of the inventory literature studies continuous approximations of these models and establishes joint convexity properties of the policy parameters in the continuous space, we show that...
Persistent link: https://www.econbiz.de/10011052474
This paper investigates the delay experienced by retailers in a distribution system due to shortages at the central warehouse. Simple formulae are developed to estimate the mean and variance of this delay. The formulae are based on replacing the stochastic lead-time demand with a stochastic...
Persistent link: https://www.econbiz.de/10011076766
The literature on inventory control discusses many methods to establish the level of decision parameters -like reorder levels or safety factors-, necessary to attain a prescribed service level. In general, however, these methods are not easy applicable: they often use time-consuming iterations,...
Persistent link: https://www.econbiz.de/10011092568
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Background: The remanufacturing plan of perfect cost makes reference to the remanufacturing plan of an optimal solution of the economic lot-sizing problem with remanufacturing (ELSR). In this paper, we address the problem of determining the quantities of the remanufacturing plan of perfect cost...
Persistent link: https://www.econbiz.de/10009764684
Persistent link: https://www.econbiz.de/10009700320
Background: The remanufacturing plan of perfect cost makes reference to the remanufacturing plan of an optimal solution of the economic lot-sizing problem with remanufacturing (ELSR). In this paper, we address the problem of determining the quantities of the remanufacturing plan of perfect cost...
Persistent link: https://www.econbiz.de/10010500503
Persistent link: https://www.econbiz.de/10010384584
We address the economic lot sizing problem with product returns and remanufacturing. For this problem we provide a new theoretical result about the form of the optimal solutions that can be considered a generalization of the well-known zero-inventory property. Based on this result we suggest an...
Persistent link: https://www.econbiz.de/10011570055
The Net Present Value (NPV) approach is considered to be the right approach to study inventory and production systems. But, approximate average cost (AC) approach is widely used in both practice and theory. However, the opportunity cost interpretation of AC framework is not that straightforward...
Persistent link: https://www.econbiz.de/10005288551