ISYE SEMINAR SERIES - cancelled

Event Details
  • Date/Time:
    • Thursday December 5, 2002 - Wednesday December 4, 2002
      10:00 am - 11:00 pm
  • Location: IC 211
  • Phone:
  • URL:
  • Email:
  • Fee(s):
    N/A
  • Extras:
Contact
Barbara Christopher
Industrial and Systems Engineering
Contact Barbara Christopher
404.385.3102
Summaries

Summary Sentence: ISYE SEMINAR SERIES - cancelled

Full Summary: ISYE SEMINAR SERIES - cancelled

Motivated by the practice of transportation contracts in the modern era, we study periodic-review inventory control models with ordering cost c(x)=cx +K 1[x>R], i.e. the ordering is cx if the ordering quantity is below its quota R, and K+cx if the ordering quantity is over its quota, where K is a setup cost for working out additional contract terms such as additional truck and processing fees, etc. This ordering cost function is neither convex nor concave, and the classical periodic-review inventory model with setup cost is a special case with R=0. We show that the optimal policy is a refined (s,S) policy. We apply this result to a production control problem under energy crisis where the supplier provides an incentive for the manufacturer to not exceed a certain quota.

Additional Information

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H. Milton Stewart School of Industrial and Systems Engineering (ISYE)

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Seminar/Lecture/Colloquium
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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