A Model for Continuous-Review Pull Policies in Serial Inventory Systems

Ralph D. Badinelli
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Ralph D. Badinelli: Virginia Polytechnic Institute and State University, Blacksburg, Virginia

Operations Research, 1992, vol. 40, issue 1, 142-156

Abstract: In this paper, we construct a model of the steady-state values of on-hand inventory and backorders for each facility of a serial inventory system in which each facility follows a ( Q , R ) policy based on installation stock. Such policies are represented by the popular kanban systems as well as more conventional applications of ( Q , R ) policies. The descriptive model presented here is intended for optimizing the parameters of such a policy and for obtaining theoretical results about the behavior of the system. We also illustrate the potential of the model for providing insights into system performance.

Keywords: inventory/production; multi-echelon: descriptive model of policy performance; probability; stochastic model applications: steady-state inventory performance under stochastic demand (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:40:y:1992:i:1:p:142-156

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