lnu.sePublications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
The (r,Q) Inventory Model with Lost Sales: A backlog analogy
Linnaeus University, Faculty of Technology, Department of Mechanical Engineering.
Linnaeus University, Faculty of Technology, Department of Mechanical Engineering.
2017 (English)Manuscript (preprint) (Other academic)
Abstract [en]

The continuous-review (r,Q) inventory model with lost sales and stochastic lead-time is considered. It is assumed that Qr, so that at most a single order may be outstanding at any time. This model is much treated in the literature, beginning with Hadley and Whitin (1963) and there are many heuristics, but no simple exact algorithm. We derive the model for both continuous and discrete (Poisson) demand and stochastic lead-time, and devise a simple iterative algorithm that is certain to locate the global minimum if the lead-time demand distribution function is log-concave. It iterates between a square-root formula for Q and a simple equation for r. The algorithm is applicable to discrete demand when amended by a final comparison between two adjacent policies. We finally show that the model is applicable without the constraint Qr, but then lead-time demand is a function of r and Q, the investigation of which is left to future research.

Place, publisher, year, edition, pages
2017.
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Technology (byts ev till Engineering), Mechanical Engineering
Identifiers
URN: urn:nbn:se:lnu:diva-32598OAI: oai:DiVA.org:lnu-32598DiVA, id: diva2:700222
Available from: 2014-03-04 Created: 2014-03-04 Last updated: 2017-11-28Bibliographically approved

Open Access in DiVA

No full text in DiVA

Authority records BETA

Farvid, MojtabaRosling, Kaj

Search in DiVA

By author/editor
Farvid, MojtabaRosling, Kaj
By organisation
Department of Mechanical Engineering
Other Engineering and Technologies not elsewhere specified

Search outside of DiVA

GoogleGoogle Scholar

urn-nbn

Altmetric score

urn-nbn
Total: 305 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf