A STUDY OF INVENTORY MODEL BASED ON ORDER QUANTITY AND LEAD TIME AS DECISION VARIABLES—DEMAND FREQUENCY AND QUANTITIES CORRESPONDING POISSON AND NORMAL DISTRIBUTION

2004 ◽  
Vol 21 (4) ◽  
pp. 384-394 ◽  
Author(s):  
Yen-Fang Chu ◽  
Wei-Chin Lin
Keyword(s):  
Normal Distribution ◽  
Lead Time ◽  
Inventory Model ◽  
Order Quantity ◽  
Model Based ◽  
Decision Variables

scholarly journals Effective Investment to Reduce Setup Cost in a Mixture Inventory Model Involving Controllable Backorder Rate and Variable Lead Time with a Service Level Constraint

2012 ◽  
Vol 2012 ◽  
pp. 1-15 ◽  
Author(s):  
Hsien-Jen Lin
Keyword(s):  
Cost Reduction ◽  
Lead Time ◽  
Service Level ◽  
Inventory Model ◽  
Optimal Order ◽  
Order Quantity ◽  
Setup Cost ◽  
System Parameters ◽  
Decision Variables ◽  
The Impact

This paper investigates the impact of setup cost reduction on an inventory policy for a continuous review mixture inventory model involving controllable backorder rate and variable lead time with a service level constraint, in which the order quantity, setup cost, and lead time are decision variables. Our objective is to develop an algorithm to determine the optimal order quantity, setup cost, and lead time simultaneously, so that the total expected annual cost incurred has a minimum value. Furthermore, four numerical examples are provided to illustrate the results, and the effects of system parameters are also included for decision making.

scholarly journals Impact of defective items on (Q, r, L) inventory model involving controllable setup cost

2004 ◽  
Vol 14 (2) ◽  
pp. 247-258 ◽  
Author(s):  
Bor-Ren Chuang ◽  
Liang-Yuh Ouyang ◽  
Yu-Jen Lin
Keyword(s):  
Normal Distribution ◽  
Lead Time ◽  
Optimal Solution ◽  
Inventory Model ◽  
Decision Variable ◽  
Order Quantity ◽  
Setup Cost ◽  
Defective Items ◽  
Reorder Point

In a recent paper, Ouyang et al. [10] proposed a (Q, r, L) inventory model with defective items in an arrival lot. The purpose of this study is to generalize Ouyang et al.?s [10] model by allowing setup cost (A) as a decision variable in conjunction with order quantity (Q), reorder point (r) and lead time (L). In this study, we first assume that the lead time demand follows a normal distribution, and then relax this assumption by only assuming that the first two moments of the lead time demand are given. For each case, an algorithm procedure of finding the optimal solution is developed.

scholarly journals Inventory Model for Three–parameter Weibull Deterioration and Partial Backlogging

2019 ◽  
pp. 1-9
Author(s):  
Naresh Kumar Kaliraman
Keyword(s):  
Inventory Model ◽  
Time Dependent ◽  
Order Quantity ◽  
Inventory Cost ◽  
Numerical Illustration ◽  
Decision Variables ◽  
Demand Rate ◽  
Optimum Order ◽  
Total Inventory ◽  
Total Average Cost

This paper develops an economic order quantity inventory model for time dependent three parameters Weibull deterioration. Partially backlogged shortages are considered. The demand rate is deterministic and time dependent. The rate of deterioration is time dependent. We have derived the most favorable order quantity model by minimizing the entire inventory cost. A numerical illustration has been carried out to evaluate the result of parameters on decision variables and the total average cost of the model. The research focus of this paper is to derive the optimum order quantity by minimizing the total inventory cost.

Inventory model involving lead time and setup cost as decision variables

2004 ◽  
Vol 7 (1) ◽  
pp. 131-141 ◽  
Author(s):  
Tzu-Liang Cheng ◽  
Chao-Kuei Huang ◽  
Kuo-Chao Chen
Keyword(s):  
Lead Time ◽  
Inventory Model ◽  
Setup Cost ◽  
Decision Variables

scholarly journals Three-Echelon Inventory Model with Permissible Delay in Payments under Controllable Lead Time and Backorder Consideration

2014 ◽  
Vol 2014 ◽  
pp. 1-16 ◽  
Author(s):  
M. F. Yang ◽  
Wei-Chung Tseng
Keyword(s):  
Supply Chain ◽  
Lead Time ◽  
Critical Issue ◽  
Solution Procedure ◽  
Inventory Model ◽  
Permissible Delay In Payments ◽  
Inventory Policy ◽  
Controllable Lead Time ◽  
Key Factor ◽  
Delay In Payments

This paper proposes a three-echelon inventory model with permissible delay in payments under controllable lead time and backorder consideration to find out the suitable inventory policy to enhance profit of the supply chain. In today’s highly competitive market, the supply chain management has become a critical issue in both practice and academic and supply chain members have to cooperate with each other to bring more benefits. In addition, the inventory policy is a key factor to influence the performance of the supply chain. Therefore, in this paper, we develop a three-echelon inventory model with permissible delay in payments under controllable lead time and backorder consideration. Furthermore, the purpose of this paper is to maximize the joint expect total profit on inventory model and attempt to discuss the inventory policy under different conditions. Finally, with a numerical example provided here to illustrate the solution procedure, we may discover that decision-makers can control lead time and payment time to enhance the performance of the supply chain.

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