We show that a threshold policy is optimal. Under such a policy the firm places an order after a certain number of exponential events have been observed.
Mechanical and Industrial Engineering Faculty Publication Series. Title. Optimal ordering policies with convertible lead times. Authors.
A supplier manages an urgent order with uncertain progress for which her client has set a deadline for its completion and finds an optimal expediting policy ...
Under such a policy the firm places an order after a certain number of exponential events have been observed. An order is converted the first time, if any, when ...
Taylan, 2007. "Optimal ordering policies with convertible lead times," European Journal of Operational Research, Elsevier, vol. 176(2), pages 892-910, ...
By Guillermo Gallego, Yue Jin, Ana Muriel, Ge Zhang and V. Taylan Yildiz; Optimal ordering policies with convertible lead times.
A firm receives orders that will be required at an uncertain time given by an Erlang distribution, and over time observes the associated independent ...
May 20, 2024 · Lead time is not static and can change due to various factors. Regularly review lead times and adjust your inventory policies accordingly.
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To be successful, a firm must have both short quoted lead times and a high measure of customer service. Two commonly used measures of the service level are ...
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Oct 22, 2024 · This paper presents a procedure for determining the optimal order policy; i.e., the total order quantity, reorder point and proportion of split ...
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