Journal
ASIA-PACIFIC JOURNAL OF OPERATIONAL RESEARCH
Volume 26, Issue 4, Pages 533-557Publisher
WORLD SCIENTIFIC PUBL CO PTE LTD
DOI: 10.1142/S0217595909002341
Keywords
Markov processes; inventory; supply chain management; PH-distribution; order-up-to policy
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Funding
- National Natural Science Foundation of China [70471063, 70671088]
- post doctor foundation of China [20070410468]
- Hebei Development Fund for social sciences [200804001]
- National Innovation Base in Philosophy and Social Science
- Management on National Defense Science and Technology and National Economy Mobilization
- Second Phase of 985 Project of China [107008200400024]
- Main Subject Project of Beijing of China [xk100070534]
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This paper analyzes a continuous-review inventory system with random supply interruptions and stochastic lead time. In such a system, a monopolistic supplier alternates between random ON and OFF periods. The variable (r, q)-policy is used. With a constant demand rate, the leadtime may be interrupted by a random number of OFF periods of the supplier. Using the regenerative cycle analysis, a long-run average cost function is obtained and shown to have some important properties. Accordingly, an effective search algorithm is proposed to find the sub-optimal inventory policy. In the end, we also investigate the effects on the average cost of the uncertain order delay which attribute to both the supply interruptions and the random leadtime. Numerical examples are presented to demonstrate the effectiveness of the search algorithm.
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