A Multi-echelon Inventory Control Model with Random Leadtime and Stochastic Demand

Liang Zhao () and Hongjie Lan ()
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Liang Zhao: Beijing Jiaotong University
Hongjie Lan: Beijing Jiaotong University

A chapter in LISS 2014, 2015, pp 1331-1336 from Springer

Abstract: Abstract Multi-echelon inventory control is aimed at coordinate the inventory levels in the supply chain nodes, which can help reach the optimal operating strategy of the whole supply chain. On the basis of previous studies, this paper considers a three-echelon inventory control model with random leadtime and stochastic demand, which can be more practical. This paper discuss a three-echelon distribution inventory system with a central warehouse, wholesalers, A retailers (large and medium retailers) and B retailers (small retailers), which are all approximated by different types of distribution. The system is controlled by continuous review installation stock (R, Q) policies. The model is illustrated by numerical examples and sensitivity analysis is conducted.

Keywords: Multi-echelon inventory; Random leadtime; Stochastic demand; Optimal order strategy (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-662-43871-8_193

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DOI: 10.1007/978-3-662-43871-8_193

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