Accession Number : AD0623519
Title : AN ALLOCATION MODEL AND ITS APPLICATION TO A MULTI-ECHELON INVENTROY PROBLEM.
Descriptive Note : Technical rept.,
Corporate Author : CORNELL UNIV ITHACA N Y DEPT OF INDUSTRIAL ENGINEERING AND OPERATIONS RESEARCH
Personal Author(s) : Iglehart,D. L. ; Lalchandani,A. P.
Report Date : SEP 1965
Pagination or Media Count : 44
Abstract : The problem of optimal allocation of stock to two inventory installations is studied under the condition that the sum of the two inventories is less than a fixed level. For the n-period dynamic problem optimal policies are obtained when the ordering cost is linear and the oneperiod expected holding and shortage costs are convex. Extensions are given to the cases of time lags in delivery of stock and incomplete backlogging of excess demand. The infinite horizon problems are considered for the discount factor alpha less than or = 1. Finally, applications of this allocation model to multi-echelon and multi-product inventory problems are given. (Author)
Descriptors : (*INVENTORY CONTROL, OPTIMIZATION), (*INVENTORY ANALYSIS, INVENTORY CONTROL), SCHEDULING, DYNAMIC PROGRAMMING, OPERATIONS RESEARCH, MANAGEMENT PLANNING AND CONTROL
Distribution Statement : APPROVED FOR PUBLIC RELEASE