Value of supplier flexibility and initial shelf life information in an EOQ environment,

Date

2018-07-07

Author

Bayındır, Zeynep Pelin
Bakal, İsmail Serdar

Metadata

Show full item record

Item Usage Stats

111
views

0
downloads

We consider an infinite horizon, continuous review inventory modelwith deterministic stationary demand where the shelf life of the itemsis uncertain. The initial life times of the incoming items from the supplieris a discrete random variable. When the age of the items reachesthe initial shelf-life, a quality control test for which the outcome israndom is applied. According to the result of this test, it is possibleto use the items to satisfy demand for an additional time period. Inthis environment, our objective is to investigate the supplier flexibilitywhich is modeled by including a return policy and the initial shelf lifeinformation received before ordering decisions. Several scenarios areconstructed and compared using Renewal Theory.

URI

https://hdl.handle.net/11511/77501

Collections

Unverified, Conference / Seminar

Suggestions

OpenMETU
Core

Value of disruption information in an EOQ environment Bakal, İsmail Serdar; Bayındır, Zeynep Pelin (2017-12-01) We consider an infinite horizon, continuous review inventory model with deterministic stationary demand where supply is subject to disruption. The supply process alternates between two states randomly: one in which it functions normally (ON-period) and one in which it is disrupted (OFF-period). In this setting, we seek the value of disruption information which enables the buyer to place "disruption orders" at the beginning of OFF-periods. Utilizing renewal theory, we derive the total expected cost and chara...
Value of Disruption Information in an EOQ Environment Bakal, İsmail Serdar; Bayındır, Zeynep Pelin (2014-07-13) Value of Disruption Information in an EOQ EnvironmentIsmail Serdar Bakal, Z. Pelin Bayindir, Deniz Esin EmerWe consider an infinite-horizon, continuous-review inventory modelwith deterministic, stationary demand where supply is subject to disruption.The supply process alternates randomly between ON and OFFstates. Backlogging is allowed only when the supplier is disrupted. Weseek the value of disruption information which enables the firm to placean extra order when supply is disrupted. We derive the long-run...
Base stock policies for production/inventory problems with uncertain capacity levels Gullu, R (1998-02-16) In this paper we consider a single item, stochastic demand production/inventory problem where the maximum amount that can be produced (or ordered) in any given period is assumed to be uncertain. Inventory levels are reviewed periodically. The system operates under a stationary modified base stock policy. The intent of our paper is to present a procedure for computing the optimal base stock level of this policy under expected average cost per period criterion. This procedure would provide guidance as to the ...
The Impact of Modeling on Robust Inventory Management Under Demand Uncertainty Solyali, Oguz; Cordeau, Jean-Francois; Laporte, Gilbert (2016-04-01) This study considers a basic inventory management problem with nonzero fixed order costs under interval demand uncertainty. The existing robust formulations obtained by applying well-known robust optimization methodologies become computationally intractable for large problem instances due to the presence of binary variables. This study resolves this intractability issue by proposing a new robust formulation that is shown to be solvable in polynomial time when the initial inventory is zero or negative. Becau...
Analysis of an inventory system under backorder correlated deterministic demand and geometric supply process Argon, NT; Gullu, R; Erkip, N (2001-05-06) In this article we propose a single item, periodic review model that investigates the effects of changes in the demand process that occur after stockout realizations. We investigate a system where the demands in successive periods are deterministic but affected by the backorder realizations. In order to capture the effects of changes in the demand process we use a geometric type supply availability. We analytically derive the necessary components for obtaining profit related performance measures and provide...

Citation Formats

Z. P. Bayındır and İ. S. Bakal, “Value of supplier flexibility and initial shelf life information in an EOQ environment,” 2018, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/77501.