ISYE SEMINAR SERIES - A Periodic Review Inventory Model with Three Delivery Modes and Forecast Updates

Event Details
  • Date/Time:
    • Tuesday November 12, 2002 - Monday November 11, 2002
      10:00 am - 11:00 pm
  • Location: IC 209
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Contact
Barbara Christopher
Industrial and Systems Engineering
Contact Barbara Christopher
404.385.3102
Summaries

Summary Sentence: ISYE SEMINAR SERIES - A Periodic Review Inventory Model with Three Delivery Modes and Forecast Updates

Full Summary: ISYE SEMINAR SERIES - A Periodic Review Inventory Model with Three Delivery Modes and Forecast Updates

This paper is concerned with a periodic review inventory system with three 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. Both finite and infinite horizon problems are treated. Objectives considered are those of discounted and average cost minimization. It is shown that in all cases, an optimal ordering policy is a modified state-dependent base-stock policy.

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School of Industrial and Systems Engineering (ISYE)

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Status
  • Created By: Barbara Christopher
  • Workflow Status: Published
  • Created On: Oct 8, 2010 - 7:42am
  • Last Updated: Oct 7, 2016 - 9:53pm