Title :
Exact Analysis and Simulation Test of Continuous (s, Q) Inventory Policy with Stochastic Lead Times
Author :
Jie, Wan ; Li, Li ; Jingwu, Cheng
Author_Institution :
Hebei Univ. of Technol., Tianjin
Abstract :
Our research consider the standard (s,Q) model for controlling finished goods inventory under continuous review when the lead times are stochastics. We assume that customer´s demand is deterministic and the unsatisfied goods are lost. Based on the reviewing relevant literature, we present our approximate formulations and apply them into a case. By using Excel, we prove our approximate solution.
Keywords :
demand forecasting; finished goods inventory; stochastic processes; stock control; continuous (s,Q) inventory policy; deterministic customer demand; finished good inventory control; stochastic lead time; Analytical models; Closed-form solution; Costs; Discrete event simulation; Inventory control; Inventory management; Stochastic processes; Stochastic systems; Technology management; Testing; (s, Q)inventory policy; simulation; stochastic lead-time;
Conference_Titel :
Service Systems and Service Management, 2007 International Conference on
Conference_Location :
Chengdu
Print_ISBN :
1-4244-0885-7
Electronic_ISBN :
1-4244-0885-7
DOI :
10.1109/ICSSSM.2007.4280130
