On single item time weighted mixture inventory models with independent stochastic lead times

Achin Srivastav and Sunil Agrawal

International Journal of Services and Operations Management, 2015, vol. 22, issue 1, 101-121

Abstract: In this paper, mixture inventory models are developed considering shortages as combination fixed and time weighted backorders with lost sales. The inventory policy assumes single item having deterministic demand where the lead time is stochastic. For the time weighted backorders case, the backorder cost depends on the length of time of shortage. A numerical example is shown to illustrate the results. A sensitivity analysis is conducted to see changes in the optimal parameters with the changing proportion of backorders in the mixture of backorders and lost sales. Finally, the paper shows the benefits of order crossover by comparing interchangeable demand case over non-interchangeable demand.

Keywords: inventory modelling; stochastic lead times; interchangeable demand; sensitivity analysis; shortages; backorders; lost sales; order crossover; inventory management. (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.inderscience.com/link.php?id=70885 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijsoma:v:22:y:2015:i:1:p:101-121

Access Statistics for this article

More articles in International Journal of Services and Operations Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().