
Accession Number : AD0696161
Title : ON CONTINUOUSREVIEW (S1,S) INVENTORY POLICIES WITH STATEDEPENDENT LEADTIMES,
Corporate Author : RESEARCH ANALYSIS CORP MCLEAN VA
Personal Author(s) : Gross,Donald ; Harris,Carl M. ; Robers,Philip D.
Report Date : OCT 1969
Pagination or Media Count : 54
Abstract : The paper describes several oneforone ordering (S1,S) inventory models in which the time required for order replenishment, or leadtime, depends on the number of orders outstanding. Demand is assumed to be a Poisson random variable with a constant mean lambda, and leadtime is assumed to be state dependent in either one of two ways: (1) that portion of the leadtime which corresponds to the actual filling of orders is an exponentiallydistributed random variable with a distribution function and (2) the instantaneous probability at an arbitrary point in time of an order being filled in an infinitesimal interval of time. Several models are investigated for each type. The orders placed are assumed to go into a singleserver queue, and queuing theory results are used to obtain the expected inventory costs as a function of S in order to obtain an optimal value of S. Some of the models are expanded to include costs dependent on a servicerate parameter and are then optimized with respect to both S and the servicerate parameter. (Author)
Descriptors : (*INVENTORY CONTROL, *REPLACEMENT THEORY), MATHEMATICAL MODELS, LEAD TIME, MANAGEMENT ENGINEERING, DISTRIBUTION FUNCTIONS, PROBABILITY, QUEUEING THEORY, COSTS, OPTIMIZATION, STATISTICAL PROCESSES, DIFFERENCE EQUATIONS
Subject Categories : Administration and Management
Distribution Statement : APPROVED FOR PUBLIC RELEASE