Nughthoh, Arfawi Kurdhi and Rumi, Iqbal Doewes and Yuliana, Yuliana (2020) A periodic review inventory system under stochastic demand with controllable safety stock, lead time, and price discount under partially backlogged shortages. Int. J. Value Chain Management, 11 (4). pp. 328-345.
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Abstract
The stochastic inventory system analysed in this paper explores the problem of the backorder price discount, safety stock, lead time, and review period as control variables to widen applications for a periodic review inventory model. In many practical situations, the variable lead time can be divided into some components which have a crashing cost for the reduced lead time. Moreover, the firm may offer a price discount to the obliged and loyal customers to pay off the uncomfortableness of backordering. Furthermore, the protection interval demand (i.e., review period plus lead time) is assumed to follows a normal distribution. The aim is to develop an algorithm to determine the optimal solutions, so that the total expected annual cost reaches at a minimum value. A numerical example is given to illustrate the application of the system. Keywords: periodic review; safety stock; backorder discount; protection interval; lead time.
| Item Type: | Article |
|---|---|
| Subjects: | Q Science > QA Mathematics |
| Divisions: | Fakultas Keguruan dan Ilmu Pendidikan > Pend. Matematika |
| Depositing User: | Unwidha Perpustakaan Unwidha |
| Date Deposited: | 10 May 2022 05:26 |
| Last Modified: | 17 Jun 2022 04:23 |
| URI: | http://repository.unwidha.ac.id:880/id/eprint/2780 |
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