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Inventory Control when the Lead-time Changes

Axsäter, Sven LU (2011) In Production and Operations Management 20(1). p.72-80
Abstract
A single-echelon inventory system with continuous review and Poisson demand is considered. There are standard linear holding and backorder costs but no ordering or set-up costs. We study a change in the lead-time, which is rather typical in connection with application of a Just-In-Time philosophy. Our main focus is a lead-time decrease but we also consider a lead-time increase. Due to the lead-time change, the optimal steady state solution will also, in general, change. We consider the transient problem of minimizing the costs when bringing the system from its original steady state to the new steady state.
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
inventory management, stochastic, JIT, transient
in
Production and Operations Management
volume
20
issue
1
pages
72 - 80
publisher
Wiley-Blackwell
external identifiers
  • wos:000285832900006
  • scopus:79951964175
ISSN
1059-1478
DOI
10.1111/j.1937-5956.2010.01125.x
language
English
LU publication?
yes
id
e315b35e-f2b5-4a8d-a657-640b6a8bacaf (old id 1868866)
date added to LUP
2011-04-19 11:14:34
date last changed
2017-04-30 11:06:57
@article{e315b35e-f2b5-4a8d-a657-640b6a8bacaf,
  abstract     = {A single-echelon inventory system with continuous review and Poisson demand is considered. There are standard linear holding and backorder costs but no ordering or set-up costs. We study a change in the lead-time, which is rather typical in connection with application of a Just-In-Time philosophy. Our main focus is a lead-time decrease but we also consider a lead-time increase. Due to the lead-time change, the optimal steady state solution will also, in general, change. We consider the transient problem of minimizing the costs when bringing the system from its original steady state to the new steady state.},
  author       = {Axsäter, Sven},
  issn         = {1059-1478},
  keyword      = {inventory management,stochastic,JIT,transient},
  language     = {eng},
  number       = {1},
  pages        = {72--80},
  publisher    = {Wiley-Blackwell},
  series       = {Production and Operations Management},
  title        = {Inventory Control when the Lead-time Changes},
  url          = {http://dx.doi.org/10.1111/j.1937-5956.2010.01125.x},
  volume       = {20},
  year         = {2011},
}