TY - GEN
T1 - Inventory policies for a batch-replenishment supplier with alternative delivery lead-time choices
AU - Wang, Haifeng
AU - Yan, Houmin
PY - 2009
Y1 - 2009
N2 - This paper considers an inventory model in which a supplier provides alternative lead-time choices to customers: a short or a long lead time. The supplier operates in a batch-production mode. Orders from slow customers can be taken by the supplier and included in the next production cycle, while orders from fast customers have to be satisfied from the on-hand inventory. This paper denotes the action of providing a short lead-time product to a long lead-time customer as the inventory-commitment decision, and characterizes the optimal inventory-commitment policy. © 2009 IFAC.
AB - This paper considers an inventory model in which a supplier provides alternative lead-time choices to customers: a short or a long lead time. The supplier operates in a batch-production mode. Orders from slow customers can be taken by the supplier and included in the next production cycle, while orders from fast customers have to be satisfied from the on-hand inventory. This paper denotes the action of providing a short lead-time product to a long lead-time customer as the inventory-commitment decision, and characterizes the optimal inventory-commitment policy. © 2009 IFAC.
KW - Batch replenishment
KW - Dynamic programming
KW - Lead-time flexibility
KW - Optimal control
KW - Stochastic inventory models
UR - http://www.scopus.com/inward/record.url?scp=79960899250&partnerID=8YFLogxK
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-79960899250&origin=recordpage
U2 - 10.3182/20090603-3-RU-2001.0132
DO - 10.3182/20090603-3-RU-2001.0132
M3 - RGC 32 - Refereed conference paper (with host publication)
SN - 9783902661432
VL - 13
SP - 1568
EP - 1572
BT - IFAC Proceedings Volumes (IFAC-PapersOnline)
T2 - 13th IFAC Symposium on Information Control Problems in Manufacturing (INCOM '09)
Y2 - 3 June 2009 through 5 June 2009
ER -