An Evaluation of a Joint Replenishment Inventory Model with Random Demands.
NAVAL POSTGRADUATE SCHOOL MONTEREY CA
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This paper considers a joint replenishment inventory problem with a continuous-review S, c, s policy for the backorder case with Poisson demands and constant procurement lead times. Whenever item is inventory level hits s sub i reorder point or lower it triggers an order so as to raise item is level to S sub i order up point. At the same time any other item j with inventory level at-or-below its can-order point c sub j is included in the replenishment. A Poisson demand model with a queueing description of the systems operation is analysed, and comparisons are conducted for joint versus individual orders in the case of multi-item problems, where joint replenishment of several items may reduce setup costs. Keywords Theses Mathematical models, Computer programs.
- Logistics, Military Facilities and Supplies