A Note on Minimax Mixture of Distributions Free Procedure for Inventory Model with Variable Lead Time

A Note on Minimax Mixture of Distributions Free Procedure for Inventory Model with Variable Lead... In recent papers, Moon and Choi (1998) and Hariga and Ben-Daya (1999)considered a continuous review inventory model with a mixture of backordersand lost sales in which the lead time, the order quantity, and the reorder pointare decision variables was studied. Moreover, they also develop a minimaxdistribution free procedure for the problem. While the demands of differentcustomers are not identical in the lead time, then we can't only use a singledistribution (such as Moon & Choi (1998) and Hariga & Ben-Daya (1999))to describe the demand of the lead time. Hence, we correct and extend the modelof Moon and Choi (1998) and Hariga and Ben-Daya (1999) by considering thelead time demand with the mixture of distributions. In addition, we also applythe minimax mixture of distributions free approach to the model by simultaneouslyoptimizing the order quantity, the reorder point, and the lead time to devise a practical procedure which can be used without specific information on demand distribution. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

A Note on Minimax Mixture of Distributions Free Procedure for Inventory Model with Variable Lead Time

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2002 by Kluwer Academic Publishers
Subject
Social Sciences; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1023/A:1016084604470
Publisher site
See Article on Publisher Site

Abstract

In recent papers, Moon and Choi (1998) and Hariga and Ben-Daya (1999)considered a continuous review inventory model with a mixture of backordersand lost sales in which the lead time, the order quantity, and the reorder pointare decision variables was studied. Moreover, they also develop a minimaxdistribution free procedure for the problem. While the demands of differentcustomers are not identical in the lead time, then we can't only use a singledistribution (such as Moon & Choi (1998) and Hariga & Ben-Daya (1999))to describe the demand of the lead time. Hence, we correct and extend the modelof Moon and Choi (1998) and Hariga and Ben-Daya (1999) by considering thelead time demand with the mixture of distributions. In addition, we also applythe minimax mixture of distributions free approach to the model by simultaneouslyoptimizing the order quantity, the reorder point, and the lead time to devise a practical procedure which can be used without specific information on demand distribution.

Journal

Quality & QuantitySpringer Journals

Published: Oct 13, 2004

References

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