The Value of Advance Demand Information in Production/Inventory Systems

Fikri Karaesmen (), George Liberopoulos () and Yves Dallery ()

Annals of Operations Research, 2004, vol. 126, issue 1, 135-157

Abstract: Advance demand information, when used effectively, improves the performance of production/inventory systems. In this paper, we investigate the value of advance demand information in production/inventory systems. For a single-stage make-to-stock queue, we assess the value of using advance demand information under a variety of assumptions on the cost of obtaining advance demand information, and the delivery timing requirements. This analysis enables us to identify conditions under which advance demand information may bring significant benefits. Copyright Kluwer Academic Publishers 2004

Keywords: production/inventory systems; make-to-stock queue; advance demand information; base stock policies (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1023/B:ANOR.0000012278.41301.24

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