On the (Q,r) policy for perishables with positive lead times and multiple outstanding orders

Simple item page
buir.contributor.authorBerk, Emre
buir.contributor.authorGürler, Ülkü
buir.contributor.authorPoormoaied, Saeed
dc.citation.epage98en_US
dc.citation.issueNumber1
dc.citation.spage81en_US
dc.citation.volumeNumber284
dc.contributor.authorBerk, Emreen_US
dc.contributor.authorGürler, Ülküen_US
dc.contributor.authorPoormoaied, Saeeden_US
dc.date.accessioned2019-02-21T16:08:58Z
dc.date.available2019-02-21T16:08:58Z
dc.date.issued2020-01en_US
dc.departmentDepartment of Managementen_US
dc.departmentDepartment of Industrial Engineering
dc.description.abstractWe consider an inventory system for perishables with fixed lifetimes, positive replenishment lead times and lost sales in the presence of non-negligible fixed ordering costs. The system is studied under the lotsize reorder level (Q, r) policy. An exact analysis of this system based on the stationary distribution of the remaining lifetime process is provided by Berk and Gürler (Oper Res 56(5):1238-1246, 2008) under the restriction that there is at most one outstanding order at any time (r< Q). In this work, we generalize their results to allow for more than one outstanding orders (r≥ Q). We provide the operating characteristics of the inventory system and construct the exact expected cost rate expression using a renewal theoretic approach. An illustrative numerical study indicates that allowing for multiple outstanding orders (r≥ Q) may result in significant savings in the expected cost rate, compared to the case with r< Q. In particular, when the fixed lifetimes are short and the ordering costs are low, expected costs can be reduced by more than half.
dc.identifier.doi10.1007/s10479-018-3044-3
dc.identifier.issn0254-5330
dc.identifier.urihttp://hdl.handle.net/11693/50439
dc.language.isoEnglish
dc.publisherSpringer New York LLC
dc.relation.isversionofhttps://doi.org/10.1007/s10479-018-3044-3
dc.source.titleAnnals of Operations Researchen_US
dc.subjectEffective lifetimeen_US
dc.subjectLost salesen_US
dc.subjectLot size-reorder point policyen_US
dc.subjectMultiple outstanding ordersen_US
dc.subjectPerishable inventoryen_US
dc.titleOn the (Q,r) policy for perishables with positive lead times and multiple outstanding ordersen_US
dc.typeArticleen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
On_the_Qr_policy_for_perishables_with_positive_lead_times_and_multiple_outstanding_orders.pdf
Size:
492.1 KB
Format:
Adobe Portable Document Format
Description:
Full printable version
Download
Collections
Department of Management
Department of Industrial Engineering