Optimal replenishment for a periodic review inventory system with two supply modes

Chiang, Chi

doi:10.1016/s0377-2217(02)00446-0

Cited by 48 publications

(29 citation statements)

References 9 publications

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“…Suppose that a replenishment cycle, whose length is exogenously determined (as in [1][2][3]), consists of m periods, each of identical but arbitrary length. Let n be a generic demand variable and in particular, let f denote the demand of a cycle.…”

Section: The Backorder Modelmentioning

confidence: 99%

“…Although most studies on periodic-review inventory models have (implicitly) assumed that the review periods are as small as one day (see, e.g., [5] and references therein), periodic-review systems in practice often have the review periods (i.e., replenishment cycles or simply cycles) that are a few days or weeks long and regular orders are placed at a review epoch (see, e.g., [2,3] for periodic systems where an emergency order can be placed at a review epoch or virtually at any time between two review epochs). For such periodic-review systems, it is appropriate to compute holding and shortage costs based on respectively, the average inventory of a replenishment cycle and the duration of shortage (assuming that demand not immediately filled is backlogged).…”

Section: Introductionmentioning

confidence: 99%

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Optimal ordering policies for periodic-review systems with a refined intra-cycle time scale

Chiang

2007

European Journal of Operational Research

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Section: The Backorder Modelmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Optimal ordering policies for periodic-review systems with a refined intra-cycle time scale

Chiang

2007

European Journal of Operational Research

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“…Chiang [5] illustrated the model with stochastic supplier's visit intervals. Chiang [4] developed optimal replenishment for the model with two supply modes. Chiang [3] presented optimal ordering policies for the model with a refined intra-cycle time scale.…”

Section: Introductionmentioning

confidence: 99%

Multi-Source Backlogged Probabilistic Inventory Model for Crisp and Fuzzy Environment

Ferganya

Hollahb²

2018

JAM

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This paper proposed a multi-item multi-source probabilistic periodic review inventory model under a varying holding cost constraint with zero lead time when: (1) the stock level decreases at a uniform rate over the cycle. (2) some costs are varying. (3) the demand is a random variable that follows some continuous distributions as (two-parameter exponential, Kumerswamy, Gamma, Beta, Rayleigh, Erlang distributions).The objective function under a constraint is imposed here in crisp and fuzzy environment. The objective is to find the optimal maximum inventory level for a given review time that minimize the expected annual total cost. Furthermore, a comparison between given distributions is made to find the optimal distribution that achieves the model under considerations. The cost parameters in real inventory systems and other parameters such as price, marketing and service elasticity to demand are imprecise and uncertain in nature. Since the proposed model is in a fuzzy environment, a fuzzy decision should be made to meet the decision criteria, and the results should be fuzzy as well. Fuzzy sets introduced by many researchers as a mathematical way of representing impreciseness or vagueness in everyday life. Rong et al.[12] presented a multi-objective wholesaler-retailers inventory-distribution model with controllable lead-time based on probabilistic fuzzy set and triangular fuzzy number. Sadjadi et al. [13] introduced fuzzy pricing and marketing planning model using a geometric programming approach.This paper is formulated a multi-item multi-source periodic review inventory problem with a varying holding cost constraint when the holding and backlogged costs are varying. Also, shortages are permitted but fully backlogged and the demand considered to be a random variable that follows some continuous distributions as (two-parameter exponential, Kumerswamy, Gamma, Beta, Erlang, Raylieph distributions) without lead time. Also, the cost parameters under a constraint is considered here in crisp and fuzzy environment. The problem has been solved by Lagrange multiplier technique. The objective is to find the optimal maximum inventory level for a given review time which minimize the expected annual total cost under a restriction. And a comparison between given distributions is made to find the optimal distribution that achieves the model under considerations The results of the numerical example are got by Mathematica program.

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“…Chiang [1] considered a periodic review model in which the period is partly long. The important aspect of his study was to introduce emergency orders to prevent shortages.…”

Section: Introductionmentioning

confidence: 99%

Multi-Product Multi-Constraint Inventory Control Systems with Stochastic Replenishment and Discount under Fuzzy Purchasing Price and Holding Costs

Taleizadeh¹

2009

American Journal of Applied Sciences

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While in multi-periodic inventory control problems the usual assumption are that the orders are placed at the beginning of each period (periodic review) or depending on the inventory level they can happen at any time (continuous review), in this research, we relax these assumptions and assume that the periods between two replenishments of the products are independent and identically distributed random variables. Furthermore, assuming the purchasing price are triangular fuzzy variables, the quantities of the orders are of integer-type and that there are space, budget and service level constraints, incremental discount is considered to purchase products and a combination of back-order and lost-sales are taken into account for the shortages. We show that the model of this problem is a fuzzy mixed-integer nonlinear programming type and in order to solve it, a hybrid method of fuzzy simulation and genetic algorithm approach is used. At the end, a numerical example is given to demonstrate the applicability of the proposed methodology in real world inventory control problems.

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Optimal replenishment for a periodic review inventory system with two supply modes

Cited by 48 publications

References 9 publications

Optimal ordering policies for periodic-review systems with a refined intra-cycle time scale

Optimal ordering policies for periodic-review systems with a refined intra-cycle time scale

Multi-Source Backlogged Probabilistic Inventory Model for Crisp and Fuzzy Environment

Multi-Product Multi-Constraint Inventory Control Systems with Stochastic Replenishment and Discount under Fuzzy Purchasing Price and Holding Costs

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