Discrete-time inventory problems with lead-time and order-time constraint

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author) › peer-review

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Author(s)

Detail(s)

Original languageEnglish
Title of host publicationOptimization, Control, and Applications of Stochastic Systems
EditorsDaniel Hernández-Hernández, J. Adolfo Minjárez-Sosa
PublisherBirkhäuser Boston
Chapter2
Pages13-29
ISBN (electronic)978-0-8176-8337-5
ISBN (print)978-0-8176-8336-8
Publication statusPublished - 2012
Externally publishedYes

Publication series

NameSystems and Control: Foundations and Applications
ISSN (Print)2324-9749
ISSN (electronic)2324-9757

Link(s)

DOI

DOI
Check@CityULib
Link to Scopus https://www.scopus.com/record/display.uri?eid=2-s2.0-85045513408&origin=recordpage
Permanent Link https://scholars.cityu.edu.hk/en/publications/publication(7b81283b-a315-49de-ad83-d7e8b75db3cc).html

Abstract

We consider a discrete-time inventory problem with infinite horizon, with a fixed lead time of several periods. When there is no restriction on the times of order, in particular when it is possible to make an order while some previous order is not yet delivered, then it is possible to reduce the problem to a standard one with no lead time (more precisely a lead time of one period) by considering the inventory position instead of the real inventory. This is a well-known result, which requires however the possibility of backlog. We consider here the same problem, this time imposing a constraint on the order times. It is not possible to make an order while some previous deliveries are pending. With this constraint, the problem cannot be reduced to a standard one for the inventory position.We solve the problem and show cases when the optimal policy is of (s, S) type.

Research Area(s)

  • Bellman Equation, Demand Process, Infinite Horizon, Inventory Model, Lead Time

Fingerprint

Publication fingerprints text

100
Discrete Time Mathematics
100
Inventory Problem Mathematics
100
Time Order Mathematics
100
Discrete-time Keyphrases
100
Time Constraints Keyphrases
100
Inventory Position Keyphrases
100
Ordering Time Keyphrases
100
constraints INIS
100
inventories INIS
50
Optimal Policy Mathematics
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Citation Format(s)

[ RIS ] [ BibTeX ]
Discrete-time inventory problems with lead-time and order-time constraint. / Benkherouf, Lankere; Bensoussan, Alain.
Optimization, Control, and Applications of Stochastic Systems. ed. / Daniel Hernández-Hernández; J. Adolfo Minjárez-Sosa. Birkhäuser Boston, 2012. p. 13-29 (Systems and Control: Foundations and Applications).

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author) › peer-review