期刊
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
卷 180, 期 3, 页码 1135-1143出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ejor.2006.05.015
关键词
inventory; stochastic demand; periodic review; joint replenishment; power-of-two
In this paper we examine a periodic review system under stochastic demand with variable stockout costs. The optimal values for cycle length and amount of safety stock are difficult to obtain because one of the First Order Conditions does not have a closed form solution. However, by using a Taylor series expansion to approximate part of the cost function, we produce a simple cost function structure which is similar to that of deterministic models. We argue that this simple structure is also beneficial to promote the solution in other problems where coordination of cycles is required. To illustrate, we use the joint replenishment problem for multiple items under stochastic demand and suggest simple and efficient solution procedures. (c) 2006 Elsevier B.V. All rights. reserved.
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