Controllable lead time, service level constraint, and transportation discounts in a continuous review inventory model

Dongmin Shin · Rekha Guchhait · Biswajit Sarkar · Mandeep Mittal

64 citations0/0 files storedRAIRO - Operations Research

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Supply Chain and Inventory Management Sustainable Supply Chain Management Operations Management Techniques

Abstract

This paper studies two models based on the distribution of lead time demand.The first model assumes a normally distributed lead time demand and the second assumes that there is no specific distribution for lead time demand, but it is with known mean and standard deviation.The continuous-review inventory model is used for both cases.Transportation cost is dependent on the ordered quantity i.e., how much quantity buyer orders for delivery, based on that, a transportation discount is used to reduce the total cost.Service level constraint is included in this model to avoid backorder cost.Two efficient lemmas are established to obtain the optimum solution of the model.The expected value of additional information (EVAI) is calculated to show the excess amount needed for the distribution free case.Some numerical examples and sensitivity analysis are given to illustrate the model.

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References

1993The Distribution Free Newsboy Problem: Review and Extensions 2004Integrated vendor–buyer cooperative inventory models with controllable lead time and ordering cost reduction 1994Distribution Free Procedures for Some Inventory Models 2013Improved quality, setup cost reduction, and variable backorder costs in an imperfect production process 2014Quality improvement and backorder price discount under controllable lead time in an inventory model 2001Inventory models with minimal service level constraints 2014Manufacturing setup cost reduction and quality improvement for the distribution free continuous-review inventory model with a service level constraint 2011A supply chain network design considering transportation cost discounts

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