International Journal of Production Research volume 57, issue 6, P1892-1913 2018 DOI: 10.1080/00207543.2018.1511925 View full text
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Klaus Altendorfer

Abstract: An analytical production/inventory model to optimise the planning parameters lot-size, safety stock and planned lead time is developed for a stochastic single-stage production system with multiple items and limited capacity. Based on queuing analysis, the influence of item specific lot-sizes on the production lead time distribution is modelled. Applying stochastic advance demand information, the expected values for finished-goods-inventory, backorders and service level are explicitly stated. Numerical optimisa…

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