A partial backordering approach to inventory control

Amy Zhaohui Zeng

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Supply Chain and Inventory Management Management and Optimization Techniques Advanced Queuing Theory Analysis

Abstract

We study the effects of using a partial backordering approach to controlling inventories under deterministic and stochastic demands, respectively. With a deterministic demand, our model is built with the objective of minimizing the total cost of ordering, holding, backordering and lost sales. The conditions for the partial backordering policy to be feasible are identified and a pair-wise comparison among the no-backordering, complete backordering, and partial backordering doctrines is conducted. In the stochastic case, we focus on a make-to-stock system with a Poisson demand and exponential production time, which allows us to establish a queuing model to examine the cost-effectiveness of using partial backorders. The conditions under which the partial backordering policy outperforms the complete backordering policy are identified.

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References

1982Principles of inventory and materials management 1975Operations Research in Production Planning, Scheduling and Inventory Control.1973Inventory models with a mixture of backorders and lost sales 1979A new analysis of a lot‐size model with partial backlogging 1985(Q, r) Inventory Model with a Mixture of Lost Sales and Time-Weighted Backorders 1995A partial backorder control for continuous review (r, Q) inventory system with poisson demand and constant lead time

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