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|Title:||The effect of lead time and demand uncertainties in (r, q) inventory systems|
Stochastic lead time
|Citation:||Song, J.-S., Zhang, H., Hou, Y., Wang, M. (2010). The effect of lead time and demand uncertainties in (r, q) inventory systems. Operations Research 58 (1) : 68-80. ScholarBank@NUS Repository. https://doi.org/10.1287/opre.1090.0711|
|Abstract:||We study a single-item (r, q) inventory system, where r is the reorder point and q is the order quantity. The demand is a compound-Poisson process. We investigate the behavior of the optimal policy parameters and the long-run average cost of the system in response to stochastically shorter or less-variable lead times. We show that although some of the properties of the base-stock system can be extended to this more general model, some cannot. The same findings also apply when the comparison is conducted on the lead-time demand distributions. © 2010 INFORMS.|
|Source Title:||Operations Research|
|Appears in Collections:||Staff Publications|
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