Extend (r, Q) Inventory Model Under Lead Time and Ordering Cost Reductions When the Receiving Quantity is Different from the Ordered Quantity

Wu, Kun‐Shan; Lin, I-Chuan

doi:10.1007/s11135-004-2179-2

Cited by 12 publications

(2 citation statements)

References 25 publications

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“…Sarker and Coats [26] propound an inventory model with setup cost reduction under probabilistic lead time constraint and finite number of investment possibilities to reduce setup cost. Wu and Lin [27] develop a model with lead time and setup cost reduction for partial backorder system and consider amount received is uncertain. Ben-Daya and Hariga [1] study a model wherein both lead time and crashing cost maybe reduced at a crashing cost.…”

Section: Introductionmentioning

confidence: 99%

Lead time and ordering cost reductions in budget and storage space restricted probabilistic inventory models with imperfect items

2014

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Regarding today's business environment restrictions, one of significant concern of inventory manager is to determine optimal policies of inventory/production systems under some restrictions such as budget and storage space. Therefore here, a budget constraint on total inventory investment and a maximum permissible storage space constraint are added simultaneously to a stochastic continuous review mixed backorder and lost sales inventory system. This study also assumes that the received lot may contain some defective units with a beta-binomial random variable. Two lead time demand (LTD) distribution approach are proposed in this paper, one with normally distributed demand and another with distribution free demand. For each approach, a Lagrange multiplier method is applied in order to solve the discussed constrained inventory models and a solution procedure is developed to find optimal values. This study, also, shows that the respective budget and storage space constrained inventory models to be minimized are jointly convex in the decision variables. Numerical examples are also presented to illustrate the models.

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Section: Introductionmentioning

confidence: 99%

Lead time and ordering cost reductions in budget and storage space restricted probabilistic inventory models with imperfect items

2014

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“…Porteus 28 first introduced a framework of the setup cost reduction in the classical EOQ, and then, many authors such as Billington, 29 Kim and Haya, 30 Paknejad et al 31 and Sarker and Coates 32 have explored the more investigations in this area. Wu and Lin 33 studied on lead time and ordering cost reduction when the receiving quantity is different from the ordered quantity. Lee et al 21 considered an inventory model with backorder discount and ordering cost reduction including mixture of distribution.…”

Section: Introductionmentioning

confidence: 99%

A stochastic multiobjective multiconstraint inventory model under inflationary condition and different inspection scenarios

Gholami-Qadikolaei

Mirzazadeh

Tavakkoli–Moghaddam

2013

Proceedings of the Institution of Mechanical Engineers, Part B:

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This article presents inspection scenarios for the multiobjective multiconstraint mixed backorder and lost sales inventory model with imperfect items in which the order quantity, reorder point, ordering cost, lead time, and backorder rate are decision variables. The objectives are minimizing expected annual cost and variance of shortages. The number of imperfect items is assumed to be a beta-binomial random variable. There are two inspection scenarios: the imperfect items observed during inspection and screenings are either all reworked or all discarded. In order to fit some real environment, this study assumes the maximum permissible storage space and available budget are limited. Backorder rate is considered as a function of expected shortages at the end of cycle. Stochastic inflationary conditions with a probability density function are also considered in the presented model. This study assumes that the purchasing cost is paid when an order arrives at the beginning of the cycle, and the ordering cost is paid at the time of the order placing. The aggregate demand follows a normal distribution function. Finally, a solution procedure is proposed in order to solve the discussed multiobjective model. In addition, a numerical example is presented to illustrate the multiobjective model and its solution procedure for different inspection scenarios, and a sensitivity analysis is conducted with respect to the important system parameters.

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An inventory model with uncertain demand and lost sales reduction under service level constraint

Hemapriya

Uthayakumar

2017

Int J Syst Assur Eng Manag

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Extend (r, Q) Inventory Model Under Lead Time and Ordering Cost Reductions When the Receiving Quantity is Different from the Ordered Quantity

Abstract: inventory, ordering cost reduction, lead time, minimax distribution Free,

Cited by 12 publications

References 25 publications

Lead time and ordering cost reductions in budget and storage space restricted probabilistic inventory models with imperfect items

Lead time and ordering cost reductions in budget and storage space restricted probabilistic inventory models with imperfect items

A stochastic multiobjective multiconstraint inventory model under inflationary condition and different inspection scenarios

An inventory model with uncertain demand and lost sales reduction under service level constraint

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