Periodic-review inventory model with three consecutive delivery modes and forecast updates

Research output: Journal Publications and ReviewsRGC 62 - Review of books or of software (or similar publications/items)peer-review

24 Scopus Citations
View graph of relations

Author(s)

  • Q. Feng
  • G. Gallego
  • S. P. Sethi
  • H. Yan
  • H. Zhang

Detail(s)

Original languageEnglish
Pages (from-to)137-155
Journal / PublicationJournal of Optimization Theory and Applications
Volume124
Issue number1
Publication statusPublished - Jan 2005
Externally publishedYes

Abstract

This paper is concerned with a periodic-review inventory system with three consecutive delivery modes (fast, medium, and slow) and demand forecast updates. At the beginning of each period, the inventory level and demand information are updated and decisions on how much to order using each of the three delivery modes are made. It is shown that there is a base-stock policy for fast and medium modes which is optimal. Furthermore, the optimal policy for the slow mode may not be a base-stock policy in general.

Research Area(s)

  • Base-stock policy, Forecast updates, Inventory, Multiple delivery modes

Citation Format(s)

Periodic-review inventory model with three consecutive delivery modes and forecast updates. / Feng, Q.; Gallego, G.; Sethi, S. P. et al.
In: Journal of Optimization Theory and Applications, Vol. 124, No. 1, 01.2005, p. 137-155.

Research output: Journal Publications and ReviewsRGC 62 - Review of books or of software (or similar publications/items)peer-review